Navigating a cryptocurrency exchange for the first time can be a challenge. This guide provides a clear, step-by-step walkthrough for new users on how to operate a popular digital asset trading platform, covering everything from registration to executing your first trades.
Getting Started with Account Registration
Creating your account is the first step. The platform uses advanced security measures to keep your assets safe.
- Visit the official website and locate the "Register" button, typically found in the top-right corner.
- Enter your mobile phone number and create a strong password to complete the registration.
Note: If you lose access to your registered phone number, you can recover your account by contacting support via email with the required identification documents for verification.
How to Deposit Crypto (Coin Deposit)
Depositing allows you to transfer your digital assets from an external wallet or another exchange into your new account.
- Go to "Asset Management" and select "Deposit."
- Choose the cryptocurrency you wish to deposit (e.g., BTC).
- Select the destination account for the funds (e.g., Funding Account).
- A unique deposit address will be generated. Use this address to initiate a withdrawal from your external platform or wallet.
Important: For certain tokens like XRP, a mandatory "Tag" or "Memo" must be included with the address. Failure to provide this will result in a loss of funds.
Purchasing Crypto with Fiat Currency
For beginners, the Quick Buy feature offers a straightforward way to acquire crypto using local currency.
- Click "Buy Crypto" and select "Quick Buy."
- Choose the asset you want to purchase (e.g., USDT).
- Enter the amount you wish to spend or the quantity of crypto you want to buy.
- Select your preferred payment method (e.g., bank card, Alipay, WeChat Pay) and confirm the purchase.
- After placing the order, you will receive the seller's payment details. Make the offline payment as instructed.
- Once the transfer is complete, click "I have transferred" to notify the system.
The newly purchased crypto will be available in your Funding Account.
Key Considerations:
- Do not include any notes related to cryptocurrency (like "Bitcoin" or "OKX") in your bank transfer. This can lead to payment rejection or card freezing.
- Large wire transfers (over a certain value) made outside of standard banking hours may experience delays.
- Frequent order cancellations or consistent failure to pay can negatively impact your account standing.
Internal Fund Transfers
Before you can trade, you often need to move your assets between different internal accounts. The platform features various account types, such as Funding and Trading accounts, each serving a specific purpose.
- Navigate to "Asset Management" and select "Fund Transfer."
- Choose the currency (e.g., USDT).
- Select the source account (e.g., Funding Account) and the destination account (e.g., Spot Trading Account).
- Enter the amount and confirm the transfer.
This process is essential for preparing your funds for different trading activities. 👉 Explore more strategies for managing your portfolio
Engaging in Spot Trading
Spot trading involves the direct exchange of one cryptocurrency for another without fiat currency. The exchange offers multiple trading pairs across different markets.
- Click on "Trade" and select "Spot Trading."
- Choose a trading pair from the available markets (e.g., LTC/BTC in the CRYPTO market).
- To buy LTC, enter the amount you wish to spend or the quantity you want to purchase.
- Select an order type (e.g., market order for immediate execution at current prices) and click "Buy LTC."
The trading interface provides valuable tools:
- Price Chart: View real-time and historical price data for technical analysis.
- Order Book: See the current buy (bids) and sell (asks) orders, represented in green and red respectively.
- Order History: Monitor your open and completed orders under "Current Orders" and "Order History."
Selling Crypto for Fiat Currency
When you wish to cash out your profits, the Quick Sell function simplifies the process of converting crypto back into local currency.
- Go to "Buy Crypto" and select "Quick Sell."
- Choose the cryptocurrency you want to sell (e.g., USDT).
- Enter the amount you wish to sell and select your preferred payment method for receiving funds.
- Click "Sell" to place your order.
- Once a buyer is matched, they will send you payment. Verify that the funds have arrived in your bank or支付宝 account.
- After confirming receipt, release the crypto from the trade escrow to the buyer.
Important Safeguards:
- Release the coins promptly after confirming payment receipt. Delays can automatically trigger a release after a set period.
- If you have not received payment from the buyer, use the "Appeal" button to alert customer support and freeze the transaction.
- Always verify that funds are in your account before releasing coins. Do not rely solely on the platform's notification.
Frequently Asked Questions
What is the difference between a Funding Account and a Trading Account?
A Funding Account is primarily for the storage and deposit/withdrawal of assets. A Trading Account (like a Spot Account) is specifically used to hold funds that are actively engaged in buying and selling on the exchange. You must transfer assets from your Funding Account to a Trading Account to begin trading.
Is it safe to leave my assets on the exchange?
While the platform employs robust security measures, including cold storage for the majority of funds, the safest practice for large, long-term holdings is to transfer them to your own private wallet, where you control the private keys.
What should I do if I send crypto to the wrong address?
Transactions on blockchain networks are irreversible. If you send assets to an incorrect deposit address, they are likely lost permanently. Always double-check the address and memo (if required) before confirming any transaction.
Why is my bank card payment being declined?
Banks sometimes block transactions they flag as suspicious, often those related to cryptocurrency. Contact your bank's support to authorize the transaction. Avoid including crypto-related text in the transfer notes.
How are trading fees calculated?
The exchange typically uses a maker-taker fee model. Fees are often deducted from the asset you are using to pay for a trade. You can often reduce your fee rate by holding the platform's native token or based on your 30-day trading volume.
What is a unified trading account?
A Unified Trading Account (UTA) is a sophisticated account structure that allows traders to use their capital efficiently across different products (like spots, futures, and options) without manually transferring collateral between separate accounts. It provides a holistic view of your equity and margin.