If you are getting into crypto trading and investing for the first time, it can be a huge jungle to figure out which assets to invest in, let alone find the suitable exchange that suits you.
BingX is a solid option for beginners who want to invest in their first crypto assets. As a leading crypto exchange with a wide variety of markets, BingX helps new users make the correct choices through its daily-active blog while offering favorable trading fees and all the markets you can dream of.
BingX even offers copy, grid trading, and much more that can help you boost your crypto portfolio. In this article, we will hone in on the basics of crypto trading on BingX. We will walk you through how to get started by making your first crypto trade.
Before you can get into trading crypto on BingX, you will need to register for an account. Signing up is free and only takes a couple of minutes from start to finish.
The first thing you want to do when you hit the BingX landing page is navigate to the top-right corner and hit the blue “register” button.
When you have done that, you’ll see a couple of options. You can sign up via email, phone, or a Google account. If you don’t have a Google account that you want to connect to directly, use email or phone based on what you prefer.
In this example, we will use email. After entering your email and a password of 8 to 20 characters and constrains both numbers and letters, press register and move on to the next step.
Here, you will be asked to solve a quick puzzle before entering the six-figure security code you receive by email (or phone if you sign up that way).
After those simple steps, you are greeted by the welcome message and guided on making your first crypto deposit or buying crypto directly with cash. You can also press the link at the bottom to the BingX Academy, where you’ll find more beginner guides to get you started.
Now that you are signed up on BingX, you can look at making your first trade. First, head to the “markets” tab in the menu bar, which will send you to the overall marketplace.
Here, you will find all sorts of cryptocurrencies to trade. You will see the most common ones at the top, such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and more. These are among the biggest currencies and could be a good place to start.
But don’t worry, if you have another crypto asset in mind, chances are that you can find it on BingX. Simply use the search function to find what you are looking for. You can also hit the star icon to add a market to your favorites, making them available easier for future trades.
At last, you will find three boxes at the top of the markets screen. These will show you a few assets that have stood out in the last 24 hours. It shows the “24h hot,” “24h highest change,” and a new listing.
As for your first trade, it’s advised that you head to the “spot” tab to make a spot order. BingX also allows you to do futures trading, but that will take a bit more experience.
When you have found the market you are looking for, press the blue “trade” icon, and you will be sent to the market’s trading page. This is where it can get confusing for newcomers, but it’s actually very simple.
What you will focus on the most is the graph which shows the latest movements of the respective crypto asset, in this case, BTC/USDT.
The graph automatically shows the changes within the last 15 minutes, but you can filter, showing the timeframe from down to 1 minute and up to 1 month. The graph has many other functions for analysis, but just use it to indicate the current value for now.
Besides the graph itself, you want to look to the right of the screen. This is where you will place your order to either make a purchase or sell off an asset. In this case, we will look at how to buy some BTC/USDT.
First, you choose whether you want to place a market or limit order. In this case, we will place a standard market order, which will be the easiest for beginners. After that, place the amount you want to buy in USDT. Note that 1 USDT = 1 USD. Be aware that you can’t place a higher amount than you have in your USDT account.
After that, you simply hit the green “buy BTC” button and make your first purchase. If you don’t have enough funds in your account or want to get more, you can use the buttons below the buy buttons to help you out. Here, you’ll find a button for easy access to depositing, transferring, and buying crypto.
After you have made your first spot order, you will be ready to follow the development of your newly-purchased asset under the “my assets” tab.
If you are entirely new to BingX, you wouldn’t want to miss your registration bonuses. When signing up as a new user to BingX, you can claim bonuses of up to 5125 USDT.
All you have to do is enter your phone number or email on the front page of BingX. After that, you follow the registration process and set yourself up as described earlier in this article.
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Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.