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INTRODUCTION
For this tutorial I am going to give you three examples. Bittrex, Coinex, and Binance.
I have given three examples because each exchange has different ways in which they will
ask you to use them. Some will ask for more details than others, for instance to execute one
trade on Bittrex you need to have given away your full details with identity documentation,
however on Binance you only need to have two factor authentication enabled to execute a
trade.
Hopefully, after reading this through thoroughly you will have a good idea of what’s
expected in the sign up process and the usage of one of these cryptocurrency exchanges.
Let’s start off with Binance since it’s one of my favourites.
Once you’ve clicked on the yellow register button it should take you to a screen that will ask
you to create a free account. You will need to enter your email and create a password.
Please make sure that it is a password that you remember.
Once you’ve created a free account using your email and a password, then Binance will
need to check that you aren’t a bot (a non-human user), it’s an annoying step for us but we
have to abide by their rules if we want to use them.
Using the slider, slide the jigsaw piece into the empty slot. This proves to the Binance
website that you are a real user.
Once you’ve completed the jigsaw puzzle you will be met with a screen asking you to verify
your email. Go into your email account (the one you used to register, and you will see a six
to eight digit number there. Make a note of it. Go back over to your Binance screen and
enter the number you were given in the email and hit next.
Wallah! Binance entry.
As soon as you enter the Binance exchange you will immediately be prompted to secure
your account. I would do this because if you do this then you can trade up to 2 BTC a day
without having to register any of your details. Great, huh? No KYC for minnows.
Binance will ask you whether you would like to secure your account via SMS, or Google
Authenticator.
Via sms: Binance will send a code to your mobile, and you will put that code into the empty
box when prompted – similar to other websites that ask you to do this. Facebook, twitter,
Pinterest, etc.
Via Google Auth: If you aren’t familiar with Google Authenticator yet then you can find it
here for apple: https://apps.apple.com/gb/app/google-authenticator/id388497605, and
here for Android: https://play.google.com/store/apps/details?
id=com.google.android.apps.authenticator2&hl=en_GB, it is probably a more secure way to
lock down your Bittrex website.
The lowest you can buy is $15.00 and the upper limit is $5000, so you can buy anything in
between. Technically any amount between this will buy you at least a little amount of your
favourite crypto to get started.
Once you’ve selected your amount, hit buy BTC
The next screen will take you through to a screen where it will ask you for your bank details.
Put them in and let the website do its stuff.
After this it will ask you (again) for the amount that you want to buy. Hit Buy BTC and then
you should see it in your account. Done.
Next, it will take you to a login page where you will have to enter your email address &
mobile phone number. Enter that and receive a code to your mobile phone. Then when
prompted, enter the code.
This will be the first time you have used them to buy cryptocurrency, so they will require
that you upload some ID to use their services. You should have a passport, a driver’s license
or an identity document available. Follow the on screen instructions.
After you’ve done this wait a while to be verified. Connect your bank account and then
you’re done.
You’ve now successfully made your first deposit!
Trading on Binance
After buying some BTC with my card I now have some crypto to trade with:
This will then take you to a screen that will show you all the cryptocurrencies and markets
available. You can browse through this at your own perusal, but for me I’m going to choose
the Binance ticker. So, in the search box I’m going to enter “BNB” and then click the
corresponding market
In your trade screen you’ll be faced with a lot of numbers. Numbers in red, and numbers in
green. The green orders are the people looking to buy BNB, and those in red are people
looking to sell BNB. Those numbers in red and green are prices in Bitcoin. I obviously want
to buy BNB so I will I buy at the lowest sell point shown below
As you can
see, the red
arrow is
pointing to
0.0020580
(btc) this is
how much
one BNB
coin is
selling for. The 17.26 is how many BNB coins are up for grabs in that sell order, and the
0.03552108 is the total amount that whole order is selling for.
An easy way would be to just hit on the bottom sell order. That way you can always grab the
lowest order quickly.
I only have 0.0133 Bitcoins so I will only need the bottom order. I can fill my order from part
of their order.
As you can see, I’ve entered the details. Clicking on the 100% button makes it easier if you
want to spend all of your btc. And then hit “buy BNB”
Done. If you have done it all successfully then you should see your order filled at the bottom
of the screen here:
Registering with Coinex
Coinex is very similar to Binance in the sign up process. You can sign up with Coinex, use
your Bank card to buy crypto and trade with what you’ve bought.
Head over to Coinex: https://www.coinex.com/
First, we’re going to have to sign up to get an account. So, click the sign up button on the
top right hand corner that tells you to sign up.
Next, you’ll be taken to a screen that looks a little like the screenshot on the other page. You
will be asked to enter an email and password. Although this one is a little different than
Binance. You will be asked to enter an email code before registering. So, enter your details
first, and then press “get code.”
You will receive an email to the address that you entered. In that email you will receive a
code. Copy the code and enter it in the part where it says, “Email verification code.”
Once you’ve done that then you’ll be in. (see screenshot on other page)
From here it is advised for you to secure your account via either SMS codes or google
authenticator. Please refer to the Binance tutorial for this.
Securing your account protects it from malicious attempts to steal your crypto, and also it
will enable you to trade in much higher amounts.
You’re in!
Next, you’ll need to grab some crypto.
Buying Crypto with your Card from Coinex.
Ok. The first thing you should do is hit “buy Crypto” on the top left of your screen. This will
take you to a screen where you can choose the amount of crypto you wish to buy to get you
started.
Bear in mind that the lowest you can buy is about $50, but the upper limit is $20,000 – so
anything between these amounts will get you a nice amount of your favourite crypto.
Once you hit buy, you’ll be taken to a screen which looks similar to this on the next page:
Please take a moment to review everything, and then hit – go to payment.
You will then be asked your card details, address, and country. Enter all of that, and within
ten to thirty minutes you should have your bitcoin sitting in your wallet.
Wallah!
Now it’s time to trade
Trading on Coinex
Now obviously you are going to want to trade those newly-acquired bitcoins. So, what you
need to do next is to hit “exchange”
And this will take you to the Coinex exchange where you will be able to trade your coins.
Most exchanges will take you to a standard USDT / BTC pairing, or something as popular at
first, and Coinex is no different. After hitting on the exchange button you’ll be taken to a
window with a pairing of USDT & BTC. Ignore this and look at the left side of your screen
where all the cryptocurrency pairs are.
You can do two things here. You can search for your favourite crypto or you can just click on
a popular crypto at the top. I want to hit ETH this time, because again ETH is considerably
low, and I want to get in before the halvening.
Ok, so now I have the ETH / BTC pair open and just like on Binance when I bought the BTC /
BNB pair, I’d like to buy some ETH.
If you look in my screenshot above, you will see the bottom two are ripe for picking. The
lowest ask for 1 ETH is 0.02283. So, I’m going to buy that. I’m going to buy 1 Eth.
Check the amounts and click buy. Remember and use your mouse clicker to click on the
prices to make buying and selling easier. If you do it right, then you won’t need to put in
anything manually.
Next you will be asked if you are an individual or a business, and I am assuming those using
this eBook are individuals, so keep that clicked. Enter your email address and password.
Make sure you remember your password, and then click create an account. You will be sent
a code to your email. Collect the code from your email and put it in the box.
Once you have created an account you will be prompted to enter your full name, address,
date of birth & resident country. You will have to enter all of that.
Next Bittrex will ask you to submit some documentation to prove that you are who you say
you are. Follow the on screen instructions and do as they say. If you have your passport to
hand then that is always the best one to sign up with.
I can’t screen shot the KYC process because I’ve already been through this process. Also, I’d
really not like to show you my private details. But the process is fairly straight forward.
Once that is all done the KYC process is really quick. You should be able to get that all
finished in under an hour or so.
Once your holdings page appears, then look to the far right of your screen and you should
see “Deposit by credit/debit card” Hit this.
On the next screen you should see the option to select an amount. I’m going to choose 100
because that’s a nice round number, and then I’m going to enter my card info as shown in
the screenshot.
Enter your card details and address and hit pay. You’re done. You’ve now successfully
made your first deposit to Bittrex. Yay!
Now, I fancy a bit of Hive coin. Hive cryptocurrency has made a nosedive over the last week
and I want to snap some up before other people have the same idea as me. So, we’ll scroll
down to the BTC markets, and search for Hive. Then, once we have it in our sights, we’re
going to click on it.
You’ll see green buy amounts, and red sell amounts again. This time instead of at the side,
they are at the bottom of your screen. Technically I find this easier to read this way. But
that’s just me, you may be different.
As you can see on the graph above, I’m going to buy hive at 0.00001807 btc. Make sure you
click on the lowest amount to make sure you’re always on top of what you wish to buy.
Looks like I want to buy myself 700 Hive. Hit place buy order, and BAM. You’re done!
EXODUS
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