How to buy and sell coins on Crypto.com exchange? Detailed steps

To buy or sell coins on Crypto.com, create an account, fund it, find the desired coin, place an order (limit or market), review, confirm, complete, manage the order, and withdraw funds if necessary.

Nov 23, 2024 at 08:04 am

How to Buy and Sell Coins on Crypto.com Exchange: Detailed Steps

Crypto.com is a renowned cryptocurrency exchange that has gained widespread popularity due to its user-friendly platform and diverse selection of digital assets. If you are new to the cryptocurrency market, or simply unfamiliar with Crypto.com, this comprehensive guide will provide you with all the necessary steps to buy and sell coins on the exchange.

Step 1: Create an Account

To initiate your trading journey on Crypto.com, you must first create an account. This process involves providing your personal information, including your name, email address, and a password. Crypto.com also requires users to undergo KYC (Know Your Customer) verification to enhance security and ensure compliance with regulatory requirements.

Step 2: Fund Your Account

Once your account is set up, you will need to fund it before you can start trading. Crypto.com supports multiple payment options, including:

• Bank Transfer: This method allows you to transfer funds directly from your bank account. However, it may take several days for the funds to reflect in your Crypto.com balance.
• Credit/Debit Card: Using a credit or debit card is an instant funding option, but it typically incurs a higher transaction fee compared to other methods.
• Cryptocurrency Transfer: You can also fund your Crypto.com account by transferring your existing cryptocurrencies from an external wallet or another exchange.

Step 3: Find the Coin You Want to Trade

Crypto.com offers a wide range of cryptocurrencies, from popular coins like Bitcoin and Ethereum to lesser-known altcoins. To find the coin you want to trade, simply use the search bar located at the top of the page.

Step 4: Place an Order

Once you have found the coin you wish to buy or sell, you will need to place an order. There are two main types of orders you can place on Crypto.com:

• Limit Order: With a limit order, you specify the exact price at which you want to buy or sell the coin. Your order will only be executed if the market price reaches or exceeds your specified price.
• Market Order: A market order is an instant order that executes at the current market price. This type of order is suitable for traders who want to enter or exit a position quickly.

Step 5: Review and Confirm Order

Before you place your order, carefully review all the details, including the order type, price, and quantity. Once you are satisfied, click the "Buy" or "Sell" button to execute the trade.

Step 6: Complete the Transaction

Depending on the payment method you have chosen, you may need to complete additional steps to finalize the transaction. For example, if you are using a bank transfer, you will need to provide your bank account information.

Step 7: Manage Your Orders

You can manage your open orders and track their progress in the "Orders" section of your Crypto.com account. You can also cancel orders that have not yet been executed.

Step 8: Withdraw Your Funds

Once you have sold your coins, you can withdraw the proceeds to your bank account or external cryptocurrency wallet. The withdrawal process typically takes a few days to complete.

Conclusion

Buying and selling coins on Crypto.com is a straightforward process that can be completed in a few simple steps. By following the detailed instructions provided in this guide, you can navigate the exchange platform with confidence and effectively manage your cryptocurrency trades.