A cryptocurrency exchange is an online platform that allows you to trade or sell your Bitcoin for fiat currency, such as U.S. dollars or other traditional currencies. You create an account on the exchange, deposit your Bitcoin, set up a sell order, and once it's filled, you can withdraw the cash to your bank account. Most wallets will automatically create new public keys each time you want to receive bitcoin. This alleviates the problem of public key or address reuse. If you use the same public key every time you receive bitcoin, it would become trivial for anyone to track your entire payment history. Treating keys as single use tokens greatly improves a user’s privacy. Have information you may need handy. Setting up a cryptocurrency account takes minutes, but you'll need to provide some information, including your Social Security number and the number to your bank account, debit card or credit card to fund your Bitcoin account. Some providers also may require you to have a picture ID. Record and safeguard any new passwords for your crypto account or digital wallet more on those below.
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