Since the release of the foundational blockchain technology by Satoshi Nakamoto, developers worldwide have embraced its potential. Among its many derivatives, digital currencies have gained significant global attention.
Due to their asset-like and monetary properties, tokens—or digital currencies—are increasingly viewed as digital assets. This article will guide newcomers on how to trade digital assets, using a common platform as an example.
Creating Your Account
With the tightening of policies around digital asset trading in some regions, many global trading platforms now require users to access their international sites. To start trading, you’ll first need to register an account.
Most platforms support both mobile number and email registration. Choose the option that works best for you.
Logging In and Securing Your Account
New users are typically required to complete identity verification and security settings before they can fully use the platform. This is a standard procedure to ensure account safety and regulatory compliance.
You can usually find these options by clicking the profile icon in the top-right corner of the screen. Follow the instructions carefully, and make sure to remember the details you provide.
Understanding Trading Products
Modern trading platforms offer a wide range of products, including spot trading, perpetual contracts, margin trading, futures, options, and decentralized exchange (DEX) trading. However, many of these are complex and involve high risk.
For those just starting, it’s best to begin with basic spot trading—also referred to as “coin-to-coin” trading—before exploring other products. 👉 Explore more strategies
Executing Your First Trade
Let’s use the example of a common trading pair, such as BTC/USDT. Familiarize yourself with the trading interface: the price chart, order book, buy/sell zones, and trading pairs list.
It’s also important to understand the difference between the funding account and the trading account. Your funding account holds your assets, while the trading account is used for active trading.
Managing Your Assets
After acquiring assets like USDT—a stablecoin pegged to the US dollar—you can transfer them into your trading account. This is usually done through a “Transfer” function between your funding and trading accounts.
If you wish to cash out, you can transfer USDT back to your funding account and proceed with a withdrawal.
Frequently Asked Questions
What is a stablecoin?
A stablecoin is a type of cryptocurrency designed to maintain a stable value by being pegged to a reserve asset like the US dollar. Examples include USDT and USDC.
How do I keep my account secure?
Enable two-factor authentication (2FA), use a strong and unique password, and never share your login credentials with anyone.
What is the difference between spot and contract trading?
Spot trading involves buying and selling actual assets, while contract trading allows you to speculate on price movements without owning the underlying asset. The latter carries higher risk.
Can I trade on mobile?
Yes, most major trading platforms offer mobile apps for both iOS and Android, allowing you to trade on the go.
What fees are involved?
Trading platforms usually charge fees for transactions, withdrawals, and sometimes deposits. Fee structures vary, so check the platform’s help section for details.
Is digital asset trading legal?
Regulations vary by country. It is your responsibility to understand and comply with local laws regarding digital asset trading.
Final Tips
Trading digital assets involves significant risk. This guide provides a general overview, but the actual process can be more detailed. Newcomers are advised to start with small amounts to familiarize themselves with platform functions before committing more funds.
Always prioritize learning and risk management. 👉 View real-time tools