Over the years, there has been a new craze on the internet for trading in cryptocurrencies. More and more people are turning to this trade owing to its attractive nature and the promise of making great returns. Currently, there are over 1,100 cryptocurrencies that people are now trading in. Knowledge on how to trade in these currencies is very important if you are to make any return on your investment. There are people who have made a fortune from trading in cryptocurrencies while still there are those that have lost all that they owned from the same trade. It is therefore important to take some time and understand how these markets operate.
One of the cryptocurrencies that have been gained recognition over time is Safex. Safe Exchange has become an interesting investment. This is due to the structure of the Safex organization. Unlike with many other decentralized cryptocurrencies, safe exchange coin is not only valued as a cryptocurrency, but it also holds a unique voting right in the decisions made by the organization. They have a proprietary chain known as Chillie Blockchain. Safex holders will get dividends from the marketplace that is traded on this platform. This is concept one of its kind in the cryptocurrency world.
If this interests you, and may want to trade in Safex, below is the procedure on how to do so:
Get a coinbase account
The first thing to do is to have a coinbase account. This is the one that will enable you on how to buy coins or any other currency that you may want. There are several ways through which you may load money into the account including debit and credit cards or through a bank account.
Create a Bitrex account
Bitrex is the marketplace where you will trade in Safex. The Bitrex dashboard may be too much to grasp at first instance, and for this reason, it is important to take some time and understand how it operates. Go through all the tabs so that you are sure what they are all for. It is important to do some research on the many altcoins that you find on the site. With time, you will understand how it works.
Purchase Bitcoins on coinbase
There are several other sites you can use to buy Bitcoins, but coinbase is one of the best due to its easy-to-use interface. You may use other sites that you may already have. The most important thing is to have some Bitcoins. To purchase Bitcoins any of the payment methods mentioned above will work. Credit cards are however the best as the Bitcoins will reflect immediately.
Transfer Bitcoins to bitrex
1. First, find your wallets tab on bitrex. Search for bitcoin on the list. Click on it to generate a bitcoin wallet address. Copy that address.
2. Head back to coinbase go over to the send or request tab. Paste the address you copied in the address input space ensuring that it is correct as there are no second chances here.
3. It takes about an hour for the transfer to be complete so, be patient.
Bid on Safex
Set the amount of Safex that you want to buy on the Safex marketplace. There are different ways that you may want to consider when buying Safex. These include; …Continue reading »