We are having so many people coming into crypto trading these days,but most of them dont know how to buy cryptocurrency on these exchange sites.
Today i will explain how you can buy and sell cryptocurrency on exchange site.I will be using bittrex for illustration.
Learning the home page interface
On bittrex we are having bitcoin market, ethereum market and Tether market.
Bitcoin market are market where you bitcoin is the medium of exchange
Ethereum market are market where ether is the medium of exchange
Tether market also follow the same path.
The image below will explain better.
Here is bitcoin market.NoTe: Cryptos are represented by their symbol. e.g BTC,ETH,DGB et.c
I will be using this image for illustration here.
From the first column BTC-DGB
means you can only trade BTC with DGB and vice versa
VOLUME means the total supply of money in circulation within that market of that pairs.what i mean by pair is BTC-DGB,BTC-ETH
%Change means an increase or decrease in the price of the crypto that we are trading within that market e.g
BTC-DGB -16% means there is a decrease in the price of DGB
BTC-ETH 14.2 means there is an increase in the price of ETH
LAST PRICE means the last price of that crypto that is pairs with market currency express in the unit of that market currency.from the image above we have bitcoin market,which shows that bitcoin is used as a medium of exchange. E.g Last price of DGB is 0.00001884BTC which implies that the price of 1DGB =0.00001884BTC
Now what next is how to buy
Click on the crypto you want to buy,like in the image below i clicked BTC-DGB means i want to buy DGB and i will be using
DGB to explain as we go
After i clicked, here is what the new page look like in the image below
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