🔄Trading

Crypto trading involves buying and selling cryptocurrencies on a platform like KoinBay. Traders aim to buy low and sell high or trade one cryptocurrency for another.

Steps to Start Trading on KoinBay

1. Complete Identity Verification:

   • Access 'Personal Verification' from your profile icon.

   • Complete the KYC process, starting with Tier 1.

   • Once verified, you're ready to deposit funds.

2. Deposit Cryptocurrency:

   • Go to 'Balances'.

   • Choose a cryptocurrency, select a network and click 'Deposit'.

   • Send the amount to the provided Deposit Address.

   • Alternatively, buy crypto with fiat money; it will be deposited into your spot wallet after the transaction.

3. Start Trading:

   • Navigate to 'Trade' and select either 'Classic' or 'Advanced' trading.

   • Choose the pair you want to trade (e.g., BNB/BTC).

   • Go to e.g. 'Buy BNB' and 'Sell BNB' for trading.

   • Enter the amount and confirm your trade.

   • Monitor your trade under 'Open Orders'. Once it is completed, the trade is finalized.