Hi everyone,
As the title suggests, this is a guide, NOT a money making method. Here i would like to just put some obvious information for those who are still unaware of the basics of Crypto trading . I myself have started trading in Crypto a few weeks ago therefore i won't be giving you any "expert" opinion regarding which currency to buy, hold and sell. That would be your own choice.
Okay, let's begin. I will be covering Bittrex Exchange only and how one can trade on it as it has a lot of coins as compared to other Exchanges.
Step 1: Go to https://bittrex.com and create an account.
Step 2: After you've created your account, go to settings and complete the basic verification process which won't take much time .
Step 3: Now you've to fund you account in order to start trading, and here we will be funding our account with Bitcoins, Therefore go to Wallets, you'll see all coins are listed there, Click on + (plus sign) Next to Bitcoin and it will open a new window, now here it will generate a Bitcoin address for you on which you can receive funds, so here you can send you money from any BTC exchange and get started.
Step 4: Buy Bitcoins from Coinbase, Coinmama or any other website and have them transferred to Bittrex, in order to do that you'll provide them the BTC Wallet Address which we earlier generated after we clicked on the + Sign.
Now once they sent you BTC, it will take some time to arrive in your account (after it's confirmed then ti will become available in your account)
Step 5: Now here we will buy a crypto currency . Obviously at this point you've done your research and you're going to buy a coin that you think will make you money, Ok, So go to BTC Markets on the homepage, click on any currency you wanna buy, a new page will open. Now at left side, where it's written Buy (Currency Name), put the number of units / coins you wanna buy, click on Price and select Bid price and click Buy (Currency Name) . Now the order will be posted and after sometime it will filled (we will come to this later).
Step 6: Now if you wanna sell, In order to sell any crypto currency, go to the curreency that you have from the Main page or your wallet and in Right side of the page in Sell (Crypto Currency name) put the number of units you wanna sell, in Price select Ask price and click Sell. Order will be posted and after sometime it will be filled .
We're done :)
Now coming to the pricing. You can go and search on Google what Bid and ask price means, but in short Bid is the market price for buyers at they wanna buy a currency and sell is the price for seller at which they wanna sell and now below it,i do not know much technicals about this as well so it's better you head to google uncle.
Note: Sometimes your orders will not be filled, so in order to counter that you can alternatively buy at ASK price (this is the price at which most people sell) and SELL at bid price (This is the price at which most people buy), if you do this then your order will be immediately filled as you're paying a little above the market in case of buying selling a little below the market price in case of Sell.
Good luck!