How to Trade Crypto in 4 Simple Steps

It’s 2022, the world is engulfed in crypto-mania. The cryptocurrency market is overflowing with promising assets, behind which there are unique concepts and pure faith in a safe and free future of the global financial system.

It’s such a big and complex science, right? But you want to buy crypto, predict something, or maybe sell it immediately to taste trading yourself. But how? We offer you this simple 4-step guide.

Set up an account on WhiteBIT

For buying and selling assets, you must first sign up on a centralized or decentralized crypto exchange. A crypto exchange is nothing more than an auxiliary tool for trading Bitcoin and other cryptocurrencies. Let’s dive into a broader analysis of how to buy and sell cryptocurrency.

For clarity, we offer you an example of registration on the WhiteBIT crypto exchange:

  • Click Sign Up in the top right corner of the website;
  • enter your e-mail address and create a strong password in the correspondent fields;
  • check the boxes agreeing to the WhiteBIT User Agreement, and Privacy Policy and confirm that you are neither a citizen nor a resident of prohibited countries and territories;
  • сomplete CAPTCHA;
  • сonfirm your e-mail by entering the verification code sent to your e-mail address;
  • use your credentials to log in to your account.

Phew, it took a couple of actions, but now you are closer than ever to trading crypto.

Fund your account 

For starters, well done! The first step is over. But in order to exchange, sell, and buy currencies, you need to deposit funds.

You are to deposit each asset separately on the “Total” or “Main” balance page. In the line with the currency ticker, you can find the corresponding “Deposit” and “Withdraw” buttons. Next, do the following couple of moves:

  • click Balances in the main menu at the top and select “Total” or “Main”;
  • find the currency you need by the ticker and click the “Deposit” button; 
  • choose the network in which you will make the deposit and follow the instructions;
  • if you want to deposit national currencies, you need to make sure you’ve passed identity verification. 

Pay attention to the minimum deposit amount and fee. Also, remember that methods and deposit fees are different on each exchange.

Make a purchase

Here we are! You are finally ready to place your first trade order. For this, you need to:

  • make sure you have funds on the Trade balance;
  • go to the Basic trade page and choose the desired trading pair in the Market window;
  • select a necessary order among the suggested forms for buying and selling cryptocurrency below the graph;
  • enter the required data: price, amount of coins or tokens;
  • press the Buy and Sell button.

You are fantastic! It wasn’t that hard, was it?

Be in it for the long term

You must have heard something about the volatility of cryptocurrencies. Roughly speaking, these are fluctuations in asset market prices up and down. Yes, there are stablecoins, but basically, the prices of crypto go up and down every day. These ups and downs can sometimes be predicted, or you can simply wait for the best moment to trade. So, you should consider trading cryptocurrencies in the long term, as it promises you much more profit.

Choose the best for your first crypto experience

These are all the steps of our short guide for a beginner in the crypto world. For successful asset trading, you still have a lot of information to learn, but this is enough to start. To hone your trading skills, make sure to choose a reliable platform.