How to register on the FTX Crypto Exchange?

Initial registration on a crypto exchange FTX is possible by e-mail and through Google and Apple accounts, but in this case the account has the status of “Unconfirmed”, which gives only the right to explore the functionality of the platform ftx.com. Trading, deposit and withdrawal and any other transactions will only be possible after confirming the phone number, passing the verification of the identity card corresponding to the country in which it was issued. Registration is complicated by the fact that crypto exchange partially translated from English. During the initial registration an email address is specified twice, and a complex password is created, then it is necessary to read the Terms of Service and, if the terms of service are suitable, check the box, confirming agreement with them and click on the button “Open an account”.

The next page specifies whether the new account will be personal or corporate. If the user has chosen a personal account, you must enter the full name or first and last names, if the document contains only them, specify the date of birth. Next, enter the phone number, which is confirmed by a code via SMS. Instead of confirming the phone number, you can upload the documents confirming the residence address, a scan or a photo. But the exchange warns that their verification may take about a week, so it is better to be limited to the phone number.

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After confirming the number, you specify the address: street, region, city, zip code. The country where the new user is registered from is determined by the system itself by IP. The code sent by SMS quickly becomes obsolete. When the page with the address is filled out, you will need to send an SMS message again. On the next page, the user selects the country or region. At this stage, if the phone number does not match the country the new user selects here, there may be problems with completing the registration. Next, select a document type from the FTX list.

You can either take a picture of your ID with a webcam, or go to a smartphone with a validated number and continue registering in it. The system prompts you which pages of documents to show. The document must correspond to the exchange’s request, and for the picture to be of high quality, it should be taken in good light, all the data should be visible clearly and distinctly. If everything meets the requirements, the client clicks the “Confirm” button.

The next step is to go through the face scan. On the verification page, the user clicks “Start” and an oval face scan frame is loaded in the center of the page. While the image quality is being evaluated, the verification service cannot be closed. When this process is complete, the document is sent for verification, a notification will arrive by email. If the ID meets the FTX requirements, the verification takes a few minutes, notification will also be sent by email. By completing this step, you will receive a Level 1 which gives you access to all of the platform’s markets, but you will not be able to withdraw money for up to $2,000 every day. To expand the limits, you will need to pass the third step.

Organization

An organization account is much more complicated to register. The first stage of registering a corporate account is the same as for a personal one: email and password. Then the type of account is marked.

Next, select the country, if it does not match the country calculated by IP. The client also specifies the Full legal entity name and the main place of trading activity on the FTX platform (specifying the markets where you plan to operate).

In the “Proof address of the UBO/director” section, the director or owner of the company must upload a scan of a document proving his or her residential address. This includes a government document proving the address of residence, rental agreement, utility bill, bank statement. A taxpayer identification number or employer identification number must also be provided.

Then the user should describe the commercial activities of the organization: products, services offered by the company, types of clients served, company licenses. The sources of assets of the legal entity are also indicated. Next, scans of the founding documents are uploaded, e.g. registration certificate, memorandum of association, certificate of company establishment, memorandum of association, operating agreement, proof of source of funds.

When registering an organization account, a list of all officers, directors, a list of all legal entities and individuals who own or control 10% or more shares of the company, both directly and indirectly. Scans of passports of all officers, directors, beneficiaries of the company will also need to be uploaded for verification, as well as the company’s bank account statements. There is no time limit for verification of corporate documents, the stock exchange may also require additional information.