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Announcement Bitbegin Bitsense Bitsense For Beginners Crypto Exchange Crypto Guide story

How to Trade with Bitbegin Exchange


We thank you for your interest in Bitbegin exchange and we are truly delighted to have you on board. 

Bitbegin is the first community-owned cryptocurrency exchange that has been designed to cater to the needs of the average investor. Its vision is to bring the benefits of cryptocurrency to the global audience using a simple, intuitive and reliable application. Want to become part of our community? Here is an illustrative guide to get you started. 

Go to the website at https://bitbegin.io/ to register. You can create a new account by clicking the “Sign Up” tab on the homepage. It is free and only takes a minute to register. After you have signed up with the required information, don’t forget to check your email to verify registration.

Signing in with your new account takes you to the exchange tab. We’ve designed our interface to be very minimal as possible and can blend perfectly with your phone, tablet or PC. At the top of the exchange tab, you will find two tabs to the left and three tabs to the right. 

Clicking the Bitbegin logo takes you to the homepage where you can find all the available markets and their trading pairs. Here you will find the price history, 24 hours volume and percentage change in prices of all trading pairs. We have also integrated the BitZamp news platform into the exchange to enable users to discover the latest trend in the cryptocurrency and blockchain space while making their trades. 

Adjacent to the Homepage tab is a drop-down arrow which allows users to easily switch between markets. By clicking the drop-down arrow, users can find the various trading pairs including their latest price and 24 hours volume. 

The “Deposit/Withdrawal” tab takes users to their dashboard or portfolio for managing their assets and also for staking Bitsense tokens to earn BIB coins. The two other tabs to the right include the login/logout and the Bitbegin Block Reward page for managing your stake rewards (See more about Bitbegin Staking here). Let’s move forward.

Deposit

 Users can deposit any of the supported cryptocurrencies or fiat currencies to begin trading. To make a cryptocurrency deposit, you will need to scan the barcode or copy the address specific to the particular asset you are depositing. 

N/B: Depositing to the wrong address can result in the loss of your funds.

Bitbegin has also added support for the Nigerian Naira (NGN) to enable seamless trading for Nigerian users who makes up a large part of the Bitsense community. Support for more global currencies will be rolled out soon. Currently, traders can only make fiat deposits directly from the bank. Credit/Debit card deposit will be enabled as soon as possible.

Trading

As a community-owned exchange, Bitbegin charges a minimal trading fee of 0.1% which can only be paid in BIB coins. Bitbegin will reward users with a specified amount of BIB coins upon their first deposit. Now let say you have Naira in your balance and you want to buy Bitcoin. 

You will go to the trading tab and click on the drop-down arrow to select the “BTC-NGN” pair. On this screen, you will find the real-time price chart with the current price and its change above. You can adjust the timing by clicking on the upper-right “60” button to see the wider picture. It can also be customized to your preference, and you can choose between a candle chart, bar chart, and line chart. 

On the top right corner of the trading tab, you will find the order book for the BTC-NGN pair. This shows the “Ask” and “Bid” price for the BTC/NGN market. The ask price, denoted in red, is the amount sellers are willing to take for Bitcoin while the bid price, denoted in green, is the amount buyers are willing to pay for Bitcoin. You can click on the green or red symbol, as specified by the arrow in the image above, to view all the bid and ask prices respectively. 

Next to the order book is the market trade history. This shows the latest trades for the BTC-NGN pair. To purchase Bitcoin, you can either select the current price from the sell order book or you can create a limit order by specifying the price at which you want to purchase Bitcoin. This can be entered in the “Buy BTC” option below the order book.

For example, if you want to spend all the deposited Naira, enter this amount in the “Total” box with the NGN symbol or simply click the 100% option above the “Total” box to fill this amount automatically. On the opposite, if you want to purchase a specific amount of Bitcoin, enter it to the “Amount” field with the BTC symbol.

As soon as you enter your trade, a pop-up message will appear with the total transaction fee and asking you to confirm the trade. Verify the price and the total amount you are purchasing and then click the Buy BTC option. 

Congratulations! You’ve just made your first trade on Bitbegin.

You can view your trade history on the tab directly below the real-time price chart. Adjacent to it is the Open Order tab where you can manage your trades that are yet to be filled. 

For further inquiries please send an email to support@bitbegin.io. 


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