How to buy, sell and trade NEAR coin? Detailed tutorial

To buy NEAR coin, select a reputable cryptocurrency exchange, create and verify an account, deposit funds, and place a buy order at the desired price; for selling and trading, simply place a sell order or set up a trade pair with another cryptocurrency.

Oct 06, 2024 at 08:12 am

How to Buy, Sell, and Trade NEAR Coin: A Step-by-Step Guide

NEAR coin is a decentralized, proof-of-stake cryptocurrency that powers the NEAR Protocol, a scalable and user-friendly blockchain platform. With its fast transaction speeds and low fees, NEAR has gained popularity as an alternative to Ethereum. This guide will provide a comprehensive tutorial on how to buy, sell, and trade NEAR coin.

Step 1: Choose a Cryptocurrency Exchange

The first step is to select a reputable cryptocurrency exchange that supports NEAR coin trading. Some popular options include:

• Binance
• KuCoin
• Huobi
• Coinbase Pro

Each exchange offers different fees and features, so it's important to research and compare before making a decision.

Step 2: Create an Account and Verify Identity

Once you have selected an exchange, create an account and verify your identity by providing the necessary information, such as your name, email address, and phone number. This process safeguards your account and ensures compliance with anti-money laundering regulations.

Step 3: Deposit Funds (Buy NEAR)

To buy NEAR coin, you first need to deposit funds into your exchange account. You can do this via bank transfer, credit/debit card, or another cryptocurrency. Once the funds are deposited, you can place an order to buy NEAR at the current market price or at a specific price.

Step 4: Store NEAR in a Wallet

After purchasing NEAR coin, it's recommended to store it in a secure wallet to prevent theft or loss. There are several types of wallets available, including:

• Software wallets: These are installed on your computer or mobile device and allow you to manage your coins.
• Hardware wallets: These are physical devices that provide an additional layer of security.

Step 5: Sell NEAR (Sell and Trade)

To sell NEAR coin, simply place a sell order on the same exchange you used to buy it. You can choose to sell at the current market price or at a specific price. If you want to trade NEAR for another cryptocurrency, you can do so by setting up a trade pair on the exchange.

Additional Tips:

• Monitor market trends: Keep up-to-date with news and analysis related to NEAR coin to make informed trading decisions.
• Set stop-loss orders: These orders automatically sell your coins at a predetermined price to limit losses in case of a sudden price drop.
• Use limit orders: Limit orders allow you to buy or sell NEAR at a specific price, which can be advantageous in volatile markets.
• Consider trading fees: Exchanges charge various fees for trading, so it's important to factor these into your trading strategy.
• Seek professional advice: If you're a beginner or unsure about any aspect of trading, consider consulting with a financial advisor or cryptocurrency expert.