cryptocurrency market offers great profit opportunities. Digital coins are traded on exchanges. There are quite a few of them. However, the trading rules on all sites are almost identical. Understanding this case is not as difficult as it may seem at first glance. Below we will tell you how to trade on the cryptocurrency exchange.
To start trading on the cryptocurrency exchange, you need to follow a few steps. Let’s present them in the form of a short instruction:
Choose parquet. Sign up so we don’t save it. This process is quite simple. You need to enter a phone number or email number, as well as come up with a password. Verify your personal information. To do this, you need to send to the site scan copies of the passport and photos with the document in hand. Some exchanges may request additional documentation. Reload your bill. Some exchanges allow you to do this with fiat money. However, many trading platforms only accept cryptocurrencies. Start trading. Trading is carried out with the help of a special terminal. Each exchange may have a different exchange. Therefore, we need to understand the work of the trading platform well. Distribution of profits. Some sites charge commissions for this transaction. We recommend that you carefully examine the payment systems available for withdrawal.
To understand how to trade on the cryptocurrency exchange, you need to learn how to properly use different types of orders. Let’s talk about them below.
Cryptocurrency exchanges use the same trading orders as on exchanges, currencies or commodity platforms. They look like this:
Market. Buy at the current price. Limit. Runs after quotation marks reach a specified value. Stop order. It is used to reduce losses. Take a profit. It is used to make profits. Scalable. Creates several limit orders within a specified price range. Oco. It consists of two orders. After one of them is executed, the other is executed. Seal. An order type whose volume is fully filled or deleted. At the same time, it is never partially filled. Gtc. Order before order cancellation. They remain hanging until they are canceled by the user. There are 101,000 more exotic types of trading orders. However, we recommend that you first master the basic options listed above.
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