How to buy and sell coins on the bitFlyer exchange? Detailed steps

Using bitFlyer's platform, users can buy and sell a variety of cryptocurrencies, leveraging different order types to execute their trades while adhering to the established transaction fees and acknowledging the inherent risks associated with cryptocurrency investments.

Oct 05, 2024 at 07:59 pm

How to Buy and Sell Coins on the bitFlyer Exchange: A Step-by-Step Guide

1. Create an Account

• Visit the bitFlyer website (https://bitflyer.com) and click "Sign Up."
• Enter your email address, create a password, and choose a language.
• Verify your email address by clicking the link sent to your inbox.

2. Complete Identity Verification

• Go to "Settings" > "Verification" and provide your personal information.
• Upload a copy of your valid ID and a selfie.
• Follow the on-screen instructions to complete the verification process.

3. Deposit Funds

• Go to "Wallet" and click "Deposit."
• Choose a deposit method (bank transfer, credit card, etc.) and follow the instructions.
• Once your funds are deposited, they will appear in your fiat balance.

4. Buy Coins

• Go to "Trade" and select the currency pair you want to trade (e.g., BTC/USD).
• Enter the amount of the currency you want to buy.
• Click "Buy" at the desired price or create a limit or stop order.
• Confirm the transaction and the coins will be added to your balance.

5. Sell Coins

• Follow steps 4, but select the "Sell" option.
• Enter the amount of the currency you want to sell.
• Click "Sell" at the desired price or create a limit or stop order.
• Confirm the transaction and the funds will be added to your fiat balance.

6. Withdraw Funds

• Go to "Wallet" and click "Withdraw."
• Choose a withdrawal method (bank transfer, etc.) and follow the instructions.
• Once your withdrawal is processed, the funds will be sent to your specified recipient.

Additional Notes:

• bitFlyer allows you to buy and sell a wide range of cryptocurrencies, including Bitcoin, Ethereum, Ripple, and Litecoin.
• The exchange offers various order types, such as market orders, limit orders, and stop orders.
• Transaction fees vary depending on the currency pair and order type.
• It is important to note that cryptocurrencies are subject to market volatility and risk.