Graphical tutorial on buying coins for beginners on Poloniex exchange app

Poloniex, a popular cryptocurrency exchange, offers a user-friendly app for beginners to navigate the crypto market, enabling them to easily purchase coins such as ETH, BTC, and USDT, with minimum deposit and withdrawal amounts to cater to various needs.

Nov 25, 2024 at 05:56 pm

Graphical Tutorial on Buying Coins for Beginners on Poloniex Exchange App

Introduction

Poloniex is a popular cryptocurrency exchange that offers a wide variety of coins and trading pairs. It is a great option for beginners who are looking to buy their first cryptocurrency. This tutorial will walk you through the steps on how to buy coins on Poloniex using the exchange app.

Step 1: Create an Account

The first step is to create an account on Poloniex. To do this, visit the Poloniex website and click on the "Sign Up" button. You will need to provide your email address, create a password, and agree to the terms of service. Once you have created your account, you will need to verify your email address.

Step 2: Fund Your Account

Once you have verified your email address, you will need to fund your account. You can do this by depositing cryptocurrency from another wallet or by purchasing cryptocurrency with a credit or debit card. With Poloniex the minimum deposit and withdraw amount is:

• 0.0005 BTC
• 0.01 ETH
• 10 USDT
• Poloniex accepts deposits from 26 coins.

To deposit cryptocurrency, click on the "Deposit" button on the Poloniex website. You will then need to select the cryptocurrency that you want to deposit and provide the address of your wallet.

To purchase cryptocurrency with a credit or debit card, click on the "Buy Crypto" button on the Poloniex website. You will then need to select the cryptocurrency that you want to purchase and enter the amount that you want to buy. You will then need to provide your credit or debit card information.

Step 3: Find the Coin You Want to Buy

Poloniex offers a wide variety of coins. To find the coin that you want to buy, click on the "Markets" tab on the Poloniex website. You can then search for the coin by name or by symbol.

Step 4: Place an Order

Once you have found the coin that you want to buy, you need to place an order. To do this, click on the "Buy" button on the coin's page. You will then need to enter the amount of the coin that you want to buy and the price that you are willing to pay. You can also choose to place a market order or a limit order.

A market order is an order to buy or sell a coin at the current market price. A limit order is an order to buy or sell a coin at a specific price. With Poloniex the minimum order price is 0.00000001 BTC.

Step 5: Confirm Your Order

Once you have entered all of the information, click on the "Buy" button to confirm your order. Your order will then be placed on the Poloniex order book.

Step 6: Wait for Your Order to Fill

Once your order has been placed, you will need to wait for it to fill. This can take a few seconds or a few minutes, depending on the market conditions.

Step 7: Withdraw Your Coins

Once your order has been filled, you can withdraw your coins to your wallet. To do this, click on the "Withdraw" button on the Poloniex website. You will then need to select the cryptocurrency that you want to withdraw and provide the address of your wallet.

With Poloniex the minimum withdraw is 0.0005 BTC, 0.01 ETH, 10 USDT. You can withdraw to 25 coins.