How to buy, sell and trade VLX (Velas)? Detailed tutorial

To buy Velas (VLX), create an account on a cryptocurrency exchange (e.g., Binance, KuCoin), deposit funds, find the VLX trading pair, and place a buy order.

Oct 14, 2024 at 02:17 pm

How to Buy, Sell, and Trade Velas (VLX): A Step-by-Step Guide

1. Choose a Cryptocurrency Exchange

• Binance
• KuCoin
• Gate.io
• Uniswap (decentralized exchange)

2. Create an Account and Verify Identity

• Visit the exchange's website and create an account.
• Provide personal information and complete the necessary identity verification steps (varies by exchange).

3. Deposit Funds

• Transfer cryptocurrencies from an external wallet or exchange to your exchange account.
• Alternatively, use a debit/credit card or bank transfer to purchase cryptocurrencies directly from the exchange.

4. Find VLX Trading Pair

• In the exchange's trading interface, search for the VLX trading pair (e.g., VLX/BTC, VLX/USDT).

5. Place a Buy Order

• Select "Buy" and enter the amount of VLX you wish to purchase.
• Choose an order type (e.g., market order, limit order) and confirm the transaction details.

6. Monitor Order Execution

• Your order will be added to the order book and executed based on market availability.
• Track the progress of your order in the trading interface.

7. Store VLX Safely

• Once your VLX purchase is complete, withdraw it from the exchange to a secure wallet.
• Consider using a hardware wallet (e.g., Ledger, Trezor) for optimal security.

To Sell or Trade VLX:

1. Find VLX Trading Pair

• Repeat step 4 of the "Buy VLX" section.

2. Place a Sell or Trade Order

• Select "Sell" or "Trade" and enter the amount of VLX you wish to sell or trade.
• Choose a suitable order type and confirm the transaction details.

3. Monitor Order Execution

• Similar to the purchase process, your order will be executed based on market conditions.
• Keep track of order execution in the trading interface.

4. Withdraw Funds or Trade to Other Cryptocurrencies

• Once your VLX is sold or traded, you can withdraw the funds to your wallet or trade them for other cryptocurrencies.