ETC coin detailed buying and selling and trading tutorial (illustration)

To buy Ethereum Classic (ETC), choose an exchange, create an account, fund it, select an ETC trading pair, and execute a market or limit order.

Oct 02, 2024 at 10:24 pm

ETC Coin: A Comprehensive Buying, Selling, and Trading Tutorial with Illustrations

Ethereum Classic (ETC) is a cryptocurrency that emerged from the Ethereum blockchain in 2016. This article provides a step-by-step tutorial on how to buy, sell, and trade ETC using illustrations for clarity.

1. Choosing an Exchange

The first step is to select a reputable cryptocurrency exchange that supports ETC trading. Consider factors such as trading fees, security measures, and availability in your jurisdiction. Some popular exchanges for ETC trading include:

• Binance
• Coinbase
• Kraken
• Gemini
• Crypto.com

2. Creating an Account and Verifying Identity

Once you have selected an exchange, create an account by providing basic personal information and email address. To comply with regulatory requirements, most exchanges require identity verification. This typically involves uploading a photo of your government-issued ID and a selfie.

3. Funding Your Account

To purchase ETC using fiat currency (e.g., USD, EUR), you can connect your bank account or use a debit/credit card to fund your exchange account. Some exchanges also support other payment methods, such as wire transfers or third-party payment processors (e.g., PayPal).

4. Buying ETC

Once your account is funded, navigate to the ETC trading page on the exchange. Enter the amount of ETC you wish to purchase and select the desired trading pair (e.g., ETC/USD). Choose a market or limit order type, depending on your preference.

Market Order: Executes immediately at the current market price.

Limit Order: Waits until the market price reaches a specific target before executing.

5. Selling ETC

To sell ETC, follow a similar process. Enter the amount of ETC you wish to sell and select the desired trading pair. Choose a market or limit order type, ensuring that you receive a satisfactory price.

6. Trading ETC (Optional)

If you wish to actively trade ETC and potentially profit from price fluctuations, consider learning about technical analysis and trading strategies. Exchanges often provide advanced trading tools and charting features to empower traders.

7. Storing ETC

Once you have purchased ETC, it is recommended to withdraw it from the exchange and store it in a secure wallet. Software wallets, hardware wallets, and exchanges themselves all offer different storage options with varying levels of security and usability.

Conclusion

Buying, selling, and trading ETC can be a straightforward process with the right tools and knowledge. By following these steps and choosing a reputable exchange, you can effortlessly navigate the world of Ethereum Classic trading. Remember to always research and understand the risks associated with cryptocurrency investing before making any decisions.