When registering for an exchange, you’ll need to consider how you want to withdraw your profits in the future. If you intend to trade your ETH for USD or other fiat money in the future, then we recommend you register with a regulated exchange.
Regulated exchanges comply with Financial regulations surrounding the use of KYC and AML policies to prevent financial crime. Those exchanges that do not comply with KYC and AML policies will not be able to assist you with withdrawals in fiat currency.
Some unregulated exchanges may allow you to deposit using credit cards, but they will only pay out in crypto. You’ll have to then transfer that to a regulated exchange, like Coinbase, and then exchange your ETH for USD or your preferred fiat.
Therefore, its vital that you consider your exit strategy before purchasing your ETH. If you’re buying crypto to start trading the crypto markets, then make sure you know the difference between regulated and unregulated exchanges.
American passport holders have the biggest restrictions on trading crypto. You’ll have to register with a US-facing exchange, such as Coinbase Pro, Binance US, or Kraken, to get access to the crypto markets, as well as withdrawals to your bank account or external wallet.