Categoria More: EXCHANGE GARI

Binance

Binance currently stands as the largest cryptocurrency exchange in the world in terms of trading volumes despite having been in operation for just over a year. Binance was launched in July of last year and from the time of its inception has managed to grow into the leading trading platform in the crypto sector.

Within its first year of operations, Binance has managed to get to the top of the pile by getting to over $10 billion in daily trading volumes. It also boasts of more than three hundred and seventy trading pairs as well as a listing of over a hundred and forty-three tokens and coins on its platform. It has maintained an appearance among the top five largest crypto exchanges in the world in terms of trading volumes.

It is important to note that Binance only facilitates crypto trading and does not support fiat deposits. Therefore to begin trading on this platform you need to already own fiat currency which you can buy on other crypto exchanges that support fiat trading.

Opening an Account in Binance

In order to begin trading on Binance you have to:

• Register for an account – To register you will go to the Binance homepage and click on the ‘register icon that is at the top right corner of the page. This will redirect you to another page where you will register using your email address.

• Verification of account – After registering the account, you will be sent a prompt to verify your email after which you will be able to log in to the platform as a user.

• Two-factor authentication security feature – after verifying the account the platform will prompt you to set up a 2FA which is an extra security feature i.e. a second code apart from the password that ensures you are the only one with access to your account.

Making a Deposit in Binance

To deposit funds into your Binance account follow the following steps:

➢ Click on the ‘deposits’ tab which is found under ‘Funds’ on the taskbar.
➢ This will redirect you to a deposit page where you can choose any coin listed on the platform to make the deposit in
➢ Once you have selected the coin, an address will appear where you are to send the deposits. Make sure to confirm that you are sending the right coin to the right wallet as sending the wrong coin could cost you funds.
➢ After this, you can check on the progress bar on the right end of your screen whether the deposit has been completed after which you can commence trading.

Trading on Binance

Placing an order – click on the ‘Exchange’ icon on the taskbar and select ‘Basic’. This will open the exchange platform which has various different crypto pairs to trade in e.g. if you select BTC/USDT, you will be choosing to purchase/sell BTC with/for USDT.

After this, you will select the quantity you want to buy or sell, depending on the various order options available. Confirm your values by going through them then click on the ‘buy’ or ‘sell’ to make it happen.

Making withdrawals – this step follows a similar procedure in that you will click on the ‘Funds’ icon on the taskbar then select ‘withdrawal’. This will direct you to the withdrawal page where you will input the type of coin and amount you wish to withdraw as well as the address of the wallet you wish to withdraw into. The final step is to click submit.

HitBTC

HitBTC is a crypto exchange that started back in 2013 and has over a hundred and fifty digital assets listed on its trading platform, which include cryptocurrencies, ICOs (initial coin offerings) and tokens.

From the time of its inception, HitBTC has added on to the features of its platform, cryptocurrencies listed on the platform as well as the intuitiveness of its user interface. The platform has now become that much easier to trade on, even for new traders. The ease of use has however not sacrificed the toolset that satisfies the needs of more experienced traders.

HitBTC is among the few crypto exchanges that allow for direct fiat/crypto trading. However, to take advantage of this feature one goes through a very strict process of verifications, for security reasons.

Fees And Charges Applied

HitBTC does not apply any charges or fees for the registration of a general account, this is free. In addition to this HitBTC also does not levy any fees in order to deposit cryptocurrencies, uses are, however, charged a fee for depositing fiat currencies. The fees charged are mainly dependent on the amount deposited, as well as the fiat currency in which the deposit is made in.

As for executing trades, HitBTC applies relatively low fees. For immediate transactions, users incur a 0.1 percent charge to execute the transactions while transactions which are not immediate get a 0.01 percent rebate.

For withdrawals, apart from the network fees applied depending on the cryptocurrency, withdrawing crypto is free on HitBTC. For withdrawing fiat currencies, a fee is applied with respect to the type of fiat currency being withdrawn and the amount.

Buying Bitcoin on HitBTC

If you want to purchase Bitcoin on the HitBTC platform by using fiat currency, you will be required to go through a verification process.

First off you have to open a general account, which you can do by registering on the site with your email address. The site will then prompt you to verify the email address before your account is activated. A general account allows you to deposit, withdraw and trade in crypto without going through any more steps.

As for furnishing your account with fiat currency, there are a number of steps you’ll have to follow in order for your account to be verified. These are:

• Log into your general account and click on the settings icon

• Select the ‘account verification’ tab

• Here you will be given a series of steps to follow, and documentation required which you are to send through email

• Among the information and documentation required are:

➢ Personal information such as name, address, bank information

➢ Copies of supportive documents such as identification document, proof of residence, proof of ownership of the bank account all in coloured copies.

• Once you have all the required documents, you will then follow the guidelines set on how to submit them and the sizes and formats they should be in

• The entire process of verification takes anywhere between three to five days. It is, however, important to note that requests are queued according to when they are received meaning that verification may take longer than the stipulated days.

Trading on HitBTC

With HitBTC, users can start trading immediately as soon as they create an account. Users do not need to go through a verification process in order to trade in any cryptocurrency listed on the HitBTC platform.

Deposit – you can make a deposit in Bitcoin or any other supported crypto by simply clicking the ‘deposit’ icon on the platform and thus depositing them in the appropriate wallet.

Exchange – once the funds have been transferred into your account, you then click on the exchange tab to commence trading. Here you will be able to not only trade in crypto but also view charts and orders as well as talk to other traders through the ‘trollbox’.

Order types – HitBTC facilitates various order types for users who want to make use of the stop and limit options while trading.

Bittrex

Bittrex is one of the largest exchanges by daily trading volume. Customers on this exchange enjoy various benefits such as fast transactions, reliable customer service, and security among others. Unlike most exchanges that support direct trading using fiat currencies, the US-based exchange is “Crypto-only.” Here is a guide on how to use this exchange.

1. Creating an Account

Bittrex allows users to open two types of accounts:

i. Basic account – This account is ideal for small traders as it allows a maximum withdrawal of 3 BTC/day.

ii. Advanced Account – This account is ideal for institutions or big traders as it has a maximum withdrawal of 100 BTC/day.

Opening an account is the first step when using Bittrex. Go to the exchange’s homepage and click on “sign up” to create an account. You only need to provide your email and type your preferred password. Agree to the terms and conditions. Check your email click on the verification code to activate your account.

You cannot use the account until you have checked on the KYC (Know Your Customer) verification. At this stage, you will be required to provide your ID documents. If you are opening an advance account, you will need to use your phone to set up a two -factor authentication.

2. Sending Funds to Your Account

You can only transfer funds to your Bittrex account in only 3 base Cryptos namely Tether (USDT), Ethereum (ETH), and Bitcoin (BTC). Most people prefer topping up their accounts with ETH as its transactions are processed fast.

You need to load your other exchange/wallet with USDT, ETH, or BTC and the send then transfer them to your Bittrex account. Create a Bittrex-specific address by clicking on the “Wallets” sections on your account. Click on the “+” next to the coin you want to add to get an address.

Be careful not to send your Cryptos to the wrong address. It may take from a few seconds to hours before the amount you send reflects on your Bittrex account.

3. Trading on Bittrex

When your Bittrex account has some funds, you can buy and sell different Cryptocurrencies on the home screen. The various trading pairs on the platform are based on the three main Coins. The three markets on this exchange are USDT, Ethereum, and Bitcoin markets. You select your market depending on the coin that you deposited.

For instance, let’s assume you have ETH in your Bittrex account and you want to buy LTC. You’ll go to “Ethereum Markets” and then choose ETH-LTC pair. Go to “Trading”, provide the required information, and give your quantity and/or price.

Bittrex is one of the cheapest exchanges to trade on as they charge a standard fee of 0.25 percent per transaction.

4. How to Withdraw Funds from Your Account

After trading on Bittrex, you may wish to withdraw that profit. Go to the upper right side and click Wallets to go to the wallet you want to Withdraw from. Use the Search box to search for the wallet. Click next to the Cryptocurrency name to get the Withdraw screen where you will provide the Address and Quantity of coins you are withdrawing. Click Withdraw. You may be required to enter your 6 digit code when two-factor is enabled. If you not, you need to login to your email account to verify the transaction.