How to Trade on Coinsbit.io
This guide will walk you through the essential steps needed to start trading on Coinsbit.io. From passing the verification to understanding trading pairs and order types, you'll have a comprehensive understanding by the end of this article.
Let's get started!
1. Passing the KYC Verification:
Before you can start trading, Coinsbit.io requires you to complete the Know Your Customer (KYC) verification process. This is a security measure to prevent illicit activities and ensure the safety of all users.
- Go to the Profile section after logging in.
- Locate the KYC Verification option.
- Provide all the requested documents and details.
- Wait for the platform to review and approve your submission. This may take some time, depending on the volume of requests.
2. Trading the DLTS/USDT Pair:
After your KYC is approved, you can start trading. Let's focus on the DLTS/USDT trading pair as an example:
- Navigate to the Exchange section.
- Use the search bar to find the DLTS/USDT pair.
- Click on it to load the trading interface for this specific pair.
3. Understanding Market vs. Limit Orders:
When you're on the trading interface, you'll notice options for different order types. Let's break down the two most common ones:
3.1. Market Order:
A market order allows you to buy or sell a cryptocurrency instantly at the best available price in the market. It's ideal for those who prioritize speed over price.
- Immediate execution.
- Guarantees that the order will be filled.
- You have no control over the exact price you'll get.
3.2. Limit Order:
A limit order lets you set a specific price at which you wish to buy or sell. The order will only execute when the market price matches your set limit price.
- Allows precision in setting the price you're comfortable with.
- Can help in managing risk and strategy.
- There's no guarantee that the order will be filled, especially if the market price doesn't reach your set limit.
Trading on Coinsbit.io is straightforward once you're familiar with the platform's features and requirements. Whether you choose market or limit orders depends on your trading strategy and preferences. Always ensure you understand the risks associated with trading and invest wisely. Happy trading!