Hello,
Thanks for taking the time to read our articles . I am grateful to have you here today.
In today's post. I am going to make a user - friendly guide on opening an account with Poloniex, aswell as placing your first buy order.
For many users, this is a very helpful tool to exchanging the steem they may have earned into cold hard BITCOINS, which can be swapped for fiat using many different methods.
First, Lets go to the URL. www.poloniex.com .
Here, you will want to click "Create an account".
This will present you with a new page. On this page, you are asked your basic information - but dont worry! This information -DOESNT- need to be valid, if you are security conscience. You simply need an email address.
Dont forget to read and accept the Terms of Use (always know what your signing up for !), and complete the Captcha to continue
Poloniex has a default withdrawal limits of $2,000USD without any verificiation of who you really are. This limit renews every 24 Hour period. However, If your trading large sums of crypto-currency, you will want to send in your ID verification to have these limits raised quickly. The information is kept on an encrypted data-base and is only requested to be in accordance with Anti-Money Laundering Policies.
Thats it! You are officially a member or Poloniex Exchange Platform!
Now , let's get to trading, after-all that is why were here... Isn't it?
From here, you want to hover your mouse (or click) on"Balances" and select "Deposits and Withdrawals".
This brings you to a new page where you can see the remaining limit on your withdrawals available for the day, aswell as displaying the many different crypto-currency assets available for deposit/withdrawal on the market.
For the sake of demonstration, lets find Bitcoin and select it!
When you select Bitcoin (BTC) and hit "deposit", you will be presented with your bitcoin deposit address. If you are using mobile , you can click display QR code to be presented with a barcode which your wallet may scan to send a payment.
Now, you can send your payment through using your deposit address ( or mine i dont mine:P) and wait for the confirmations. You can check the status by scrolling to the bottom and clicking on "deposit and withdrawal history"
Once your payment has processed, go ahead and click "Exchange" at the top
Now, the tricky part, Deciding what coin you want to buy. For the sake of this display , we'll choose Steem, let's up our steem power .
Go to the right side, and you can search STEEM in the filter ticker.
At the time of making this article, Steem was down, so it was a perfect time to pick some up during the wave:)
A tip of trading, it is best to place your buy order on the lower side, this ensures you can snag some additional coins if you wish to wait a few moments:)
As you see above, the current highest buy order to be filled is at .00014751BTC, while the lowest sell is at .000014924BTC.
If you were to place your buy order at .00014924 BTC, purchasing 1 BTC worth would give you only 6700 STEEM. By placing your buy order at .00014751BTC instead, you would receive 6779 STEEM. To some 79 STEEM tokens may not seem like alot, but to others thats a big difference for the sake of waiting possibly 5 minutes for your order to be filled
When you have the aquired coins, your next step would be to go back to the balances page. Click on "balances" at the top, then "deposits & withdrawals". This brings you back to the current page where you can select" withdrawal" on your STEEM.
Paste your steem account deposit address, and VIOLOA! You officially have more steem!
Now all you need to do is convert it to SteemPower and upvote all our posts :D :P <3
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