Several regulatory policies have become significant hurdles for investors in certain countries. As a result of these unfavorable policies, the world’s top cryptocurrency exchanges are forced to restrict or disallow users from these countries to register their account on the exchange, or in some cases, block access to an existing account on the exchange.
A more recent example is Singapore, where Binance and Huobi have prohibited Singaporeans from using their exchanges due to strict regulatory policies in the country. To comply with the regulatory concerns of the Monetary Authority of Singapore, Huobi and Binance have restricted services to clients based in Singapore, with users prohibited from purchasing or trading cryptocurrencies on both platforms. Prior to this, China outlawed crypto-transactions, leading to crypto exchanges suspending the creation of new accounts using Chinese-based phone numbers.
A feasible and effective solution to the current regulatory headaches faced by users is BitVPN and Dingtone. Both products are partners of the TOP Network, with BitVPN completing its migration to the TOP chain in November. Dingtone enables users to register international accounts, with users able to link up to 20 phone numbers with a single Dingtone account. This allows users to have phone numbers originating from different countries without registering their ID.
BitVPN is among the first decentralized VPN applications that have been developed entirely on the TOP chain. BitVPN allows its users to go around geo-restrictions and firewalls.
Create An Account and Continue Your Crypto Journey
Creating an International Exchange Account using Dingtone and BitVPN can be done in three simple steps:
Step 1. Download BitVPN
BitVPN is a decentralized VPN that runs on the TOP Network, guaranteeing absolute security and anonymity and security to the user.
Step 2. Get a Phone Number
Using Dingtone, users can get a phone number allotted to them in an instant. Dingtone gives its users access to phone numbers from over 20 countries. All that the user has to do is download the Dingtone App. Once downloaded, the user has to get Dingtone credits to pay for the phone number. Once users have Dingtone credits, they can easily choose a number from a list of available countries.
Step 3. Register The Exchange Account
The following steps will allow you to register an exchange account on Binance.
- Open BitVPN and choose an IP address from an unrestricted country. Simultaneously, open Binance and confirm your location.
- Register using the Dingtone phone number that you have chosen.
- Once you register, you will receive a verification code in the Dingtone app. Enter the code, and your account is registered.
- To increase your transaction limit, you will have to complete KYC authentication.
Why Do You Need Dingtone and BitVPN?
With the growing regulatory hurdles, it becomes Dingtone and BitVPN are practical solutions that you will require on your crypto journey.
- Using Dingtone and BitVPN will allow you to avoid regulatory hurdles and get around geopolitical restrictions.
- Multiple accounts can help you implement different trading strategies.
- You can use multiple accounts for different trading bots.
- You can increase or go past the withdrawal/deposit limit of your account.
- You can run riskier strategies if you have multiple accounts and still protect yourself from liquidations.
A decentralized VPN service based on the blockchain, BitVPN guarantees absolute anonymity and security to its users. It allows its users to browse the internet privately, without any restrictions. The VPN is made specifically for the blockchain space, with all data stored in decentralized databases.
Dingtone allows users to make unlimited calls and voice or text messages. It can also assign a phone number from over 20 countries to its users without registering their IDs.
About TOP Network
TOP Network is a blockchain ecosystem comprising of a 4th-generation public blockchain, decentralized communication services, and dApps. TOP Network is focusing on creating a public blockchain infrastructure for all dApps.