How to Trade - Reading time: about 3 minutes
Curious to know what it entails to trade crypto assets on an exchange? This piece gives you a bird’s eye view of what the trading process looks like on the ProBit Global exchange. It is a step-by-step guide on what you should know and do—-even as a newbie—-to complete a successful trade.
In This Article |
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How to Trade
Cryptocurrency trading entails buying and selling a digital asset via an exchange.
1) For a simple crypto trading experience, you will need to log in to your ProBit Global account (or create an account if you don’t have one already).
Basic information like your email address, password, and referral code would be required of you at this stage to complete the registration.
Afterward, you will need to fund your account to buy your desired asset. There are several options available to you on ProBit Global to fund your account.
You can make a deposit of the quote currency that would enable you to buy the preferred asset
You can buy crypto with a credit card to complete your order.
You can now also buy crypto with a bank transfer if you are eligible.
2) With ProBit Global’s simple user interface and a variety of altcoins to choose from, select Exchange to identify the token that you wish to trade.
Prepare to use either of the two types of buying and selling that ProBit Global offers: market orders and limit orders. In the search bar, type in the name or symbol of the token that you wish to trade. The current price will be displayed as ‘’Last Traded Price’’.
TIPS:
- Market orders
You will only insert the amount that you wish to buy or sell for the order to be executed. It will be filled immediately based on the currently displayed price of the asset. It is a simple, basic, and instant form of order execution on an exchange. This order type only applies to a select range of trading pairs on ProBit Global.
- Limit orders
A limit order is a conditional trade based on set prices determined by the trader. Someone has to agree to the order before it could be completed. There are four types of limit orders on ProBit Global:
GTC - Good Till Cancelled order gets executed only at a specified price point regardless of the timeframe it takes to reach the point.
GTCPO - Good Till Cancelled Post Order is completed only when it can’t be executed immediately.
IOC - Immediate or Cancel Order executes a buy or sell immediately, in full or partially, canceling any unfilled portion.
FOK - Fill Or Kill order requires the transaction to be executed immediately and to its full amount or not at all.
3) You are almost set to make your trade. In the Buy or Sell sections under Limit, enter your desired buying or selling quantity.
TIPS:
Clicking on one of the prices in the order book (a separate list of buy (bids) and sell (asks) open orders for a specific trading pair) on either the buy or sell sides will automatically apply that particular price.
Clicking on the % bar will automatically apply X% of your holdings towards a trade e.g. clicking 25% (or 50%, 75%, 100%) above the Buy button would purchase BTC equal to 25% (or corresponding amount) of your total USDT holdings).
4) Once the desired price is set, press Buy or Sell.
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Trading Bots
ProBit Global has integrated bots that can help you find the most preferable trading strategy. Though using the trading bots has an advanced level of complexity, you can try out automated trading bots like BitUniverse, Hummingbot, Margin, and Deltabadger on ProBit Global to get a choice asset without missing the perfect timing to buy and sell.
