Vortex Gaming

When you play blockchain games, you often earn or exchange coins. To trade coins, you basically need to use a coin exchange. You need to sign up for domestic and foreign exchanges and transfer coins.

First of all, for domestic exchanges, you usually choose Upbit, Bithumb, or Coinone. Before downloading the coin exchange app, there is something you need to do first. That is 'opening an account with a bank linked to the coin exchange'. In order to trade on a domestic coin exchange under the Act on Reporting and Use of Specific Financial Transaction Information, you must first open an account with a domestic bank affiliated with the coin exchange and then transfer money to the coin exchange through that account.

Each coin exchange has a different affiliated bank. First of all, for Upbit, you must open an account with K-Bank to deposit and withdraw from the exchange through that account. K-Bank basically allows non-face-to-face account opening with just an ID card, and a daily deposit and withdrawal limit of 1 million won is applied when opening for the first time. After that, you can increase the transfer amount through additional authentication.

After opening a K-Bank account, let's start signing up for Upbit in earnest. All you need is an email, ID card, and K-Bank account. Prepare everything and proceed with the registration process in order. First, proceed with mobile phone verification, ID card verification, and account verification, and you will now be able to trade coins on Upbit.

Upbit is the most actively traded exchange in Korea, but many game-related coins are not listed. Marblex, Klaytn, and Neopin are not listed, so if you need to trade those coins often, we recommend signing up for another exchange.

For Bithumb, you need to open an account with NH Nonghyup Bank. If you have used NH Nonghyup Bank before, you can open an account non-face-to-face, but if you have never used NH Nonghyup Bank, you must go to a branch to open an account.

Please note that you must go to a bank affiliated with the National Agricultural Cooperative Federation, not a local Nonghyup. The way to distinguish between the two is that local Nonghyup does not have the word 'Bank' at the end, while the National Agricultural Cooperative Federation has the word 'Bank'.

When you open an account with NH Nonghyup Bank for the first time, there is a daily deposit/withdrawal limit of 1 million won. You can increase the limit by submitting additional authentication or documents required by the bank.

If you have opened an NH Nonghyup Bank account, it is now time to sign up for Bithumb. After completing mobile phone verification, ID card verification, and account verification on Bithumb, you can transfer money from NH Nonghyup Bank and start trading coins.

Bithumb has the most game-related networks and coins listed among domestic exchanges. Since coins such as Klaytn, Bora, Marblex, and Neopin are listed, Bithumb may be the best choice if you mainly enjoy domestic blockchain games.

For Coinone, you need to open a KakaoBank account. KakaoBank allows non-face-to-face account opening with a mobile phone and ID card, and a daily deposit and withdrawal limit of 2 million won is applied when opening for the first time. After that, you can increase the transfer amount through additional authentication.

After opening an account, you will proceed with email verification, which will be used as your ID, and a password. Once you have completed this, your membership registration is complete, and you will then proceed with customer verification. The customer verification process consists of 4 steps: mobile phone, ID card, account verification, and detailed information input. Once you have completed all of these, you can start trading.

Coinone has a similar number of game-related coins listed as Bithumb, and Rush coin is listed instead of Marblex.

The reason why you need to use a foreign coin exchange when playing blockchain games is because of the 'Travel Rule' that was implemented in 2022. The Travel Rule is a system implemented to prevent money laundering, and it means the rule of virtual asset operators verifying the information of senders and receivers when exchanging digital assets.

In other words, it is a rule that coin transfers are not possible unless the exact identity of both parties exchanging coins is verified. For this reason, coin transfers to personal wallets that cannot be identified are not possible on domestic exchanges and must be done through foreign exchanges.

Therefore, in order to transfer coins to a personal wallet, you must go through the process of purchasing coins from a domestic exchange / transferring coins to a foreign exchange / transferring to a personal wallet.

For this reason, you need to sign up for a foreign coin exchange. Representative foreign exchanges include Binance and Bybit. Here, we will learn about how to sign up for Binance.

Binance has a total of 3 registration steps. At first, you can easily sign up with email linking, but coin trading is not possible. In the basic verification process (Verified), you will go through the process of entering your name and address, verifying the front and back of your ID card, and verifying your face, and after completing this, you will go through the approval process, and you will be able to trade $50,000 a day.

If the verification fails during the face verification process because the ID card is old, you must take a video with your ID card and submit it. When shooting a video, you must say the following.

"I, (이름과 성), citizen of Korea, declare this on (생년월일 MM/DD/YY). I confirm that the verification information I provided is accurate. I understand that a person who intentionally makes a false statement in a declaration is guilty of a legal offence"

After submitting the video, the exchange will review it and the verification will be completed within a maximum of 2 days.

Once you have completed the basic verification, you can proceed with the intermediate verification process (Verified Plus). In the intermediate verification process, you must write your address in English and upload utility bills, telecommunication bills, or bank statements that can prove your address. Once you have completed the intermediate verification process, you can trade $200,000 a day.

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