❓How to trade on idax

HOW TO TRADE ON idax

In order to trade on idax , there are several steps that you have to go through:

1. Open Your Account

2. Fund Your Account

3. Start Trading

Read on to learn about each of these steps.

1. Open Your Account

As mentioned, you need to open an account if you want to trade with idax . Go to the main page of the idax platform and click on Register. Then, you will be sent to the proper registration page, where you will first have to give an email address and set up a password. The email address must be a valid one that you use regularly. As for the password, you should set up a secure one, like a combination of numbers, letters, and symbols.

Rates and Terms

Next, you will have to review the Terms of Conditions from idax and agree to them, after which you can click on Register.

Captcha

An email will be sent to your inbox. Click on “Verify Email” and your registration is complete. You have an account on idax and can start trading. But there is one more thing you should do before actually trading, respectively ensuring your account is secure.

That means you should set up a 2FA. This adds an extra layer of security to your account by ensuring nobody else will get to access your funds and spend them for their personal fulfillment.

2. Fund Your Account

Now that your account is opened and is secured, you can fund it. Let’s use Ethereum as an example for the funding process.

Log In

Log into your account and click on Accounts. Then, choose the option Send on ETF Wallet. Enter a Recipient after that, as it will be the individual getting the Ethereum amount. You must have an Ethereum address on your idax account since you send the amount to idax.

Deposit Funds

Then, log into your idax account and click on Funds, then Deposits. Enter the cryptocurrency you need the address for. If Ethereum is the option you choose, idax will make sure an address is generated in order to transfer the amount. Your Ethereum funds will then be sent to the ETH Deposit Address. This means that it should be copied and pasted into the recipient box of the Coinbase account in order to make the money deposit possible.

Next, select the amount you want to send to your account in idax, after which you can click on Send. As soon as the Ethereum network is done processing the funds, they will appear in your idax account.

3. Start Trading

Now it’s time to actually start trading. Move the cursor over Trade and then click on Basic or Advanced. This will show you all the current market details. In order to sell BNB for BTC at the present Bitcoin price, you have to pick BTC in the right panel.

Then, click BNB/BTC and you will see the corresponding trading page. Keep scrolling down until you see a Buy BNB and Sell BNB option. You use the Sell Coin option to sell BNB. Enter the amount you want to sell. Click the “Sell BNB” bar afterward. You will see a “Limit Sell Order Created” pop-up immediately.

Scroll down to the Open Orders section afterward to see the limit sell order. Wait for the open order to complete, and once it happens, your trade will be completed.