How to buy and sell coins on AscendEX exchange? Detailed steps

To buy a coin on AscendEX, locate it using the search bar, select a trading pair, and place a limit or market order specifying the price and amount you desire to trade.

Nov 27, 2024 at 04:38 pm

How to Buy and Sell Coins on AscendEX Exchange: Detailed Steps

Introduction

AscendEX, formerly known as BitMax, is a renowned cryptocurrency exchange that offers a comprehensive platform for trading various digital assets. It caters to both novice and experienced traders, providing a user-friendly interface and advanced trading tools. This guide will provide a step-by-step walkthrough for buying and selling coins on the AscendEX exchange, ensuring a seamless trading experience.

Step 1: Create an AscendEX Account

• Visit the AscendEX website (https://ascendex.com/) and click on "Register."
• Enter your email address and create a strong password.
• Complete the KYC verification process by submitting your personal information and documents for identity confirmation.
• Once your account is verified, you can proceed to fund it with fiat or cryptocurrencies.

Step 2: Deposit Funds

• Navigate to the "Deposit" page in your AscendEX account.
• Select the desired fiat currency or cryptocurrency you want to deposit.
• Choose the preferred deposit method (e.g., bank transfer, credit/debit card).
• Follow the provided instructions to complete the deposit process.

Step 3: Find the Coin You Want to Buy/Sell

• Open the "Trading" page in your AscendEX account.
• Utilize the search bar to locate the coin you wish to trade.
• Click on the corresponding trading pair to view the market depth and order book.

Step 4: Place an Order to Buy/Sell

• Limit Order:

  • Specify the desired price for buying or selling the coin.
  • Enter the amount of the coin you want to trade.
  • Click "Buy Limit" or "Sell Limit" to place your order.

• Market Order:

  • Executes immediately at the prevailing market price.
  • Enter the amount of the coin you want to trade.
  • Click "Buy Market" or "Sell Market" to place your order.

Step 5: Manage Your Orders

• After placing an order, you can monitor its status in the "Open Orders" section.
• You can adjust or cancel pending orders by adjusting the price or amount, or by clicking on "Cancel Order."
• Completed orders will be displayed in the "Order History" section.

Step 6: Withdraw Your Funds

• Once you have sold your coins, you can withdraw the proceeds to your bank account or cryptocurrency wallet.
• Navigate to the "Withdrawal" page in your AscendEX account.
• Select the cryptocurrency or fiat currency you want to withdraw.
• Enter the withdrawal address and the amount you wish to withdraw.
• Follow the provided instructions to complete the withdrawal process.

Tips for Trading on AscendEX

• Familiarize yourself with the platform's interface and trading tools before placing any orders.
• Utilize limit orders to set a specific price point for buying or selling, ensuring greater control over your trades.
• Monitor market trends and consult with technical analysis tools to make informed trading decisions.
• Set stop-loss orders to limit potential losses during adverse market conditions.
• Utilize take-profit orders to lock in profits when the price of a coin reaches a desired level.
• Fund your account with a variety of cryptocurrencies or fiats for increased trading flexibility.
• Take advantage of AscendEX's mobile application for convenient trading on the go.