How to trade FET coin to others? FET coin selling transaction graphic tutorial

To trade FET coins, choose a reputable cryptocurrency exchange, create an account, fund it, place a sell order, set the order details, review and confirm, wait for order execution, and withdraw funds.

Sep 30, 2024 at 10:06 pm

How to Trade FET Coin to Others: A Step-by-Step Guide

FET coin, an ERC-20 token on the Ethereum blockchain, powers the Fetch.ai network. Here's a comprehensive guide on how to trade FET coins:

Step 1: Choose a Cryptocurrency Exchange

Select a reputable cryptocurrency exchange that supports the trading of FET coins, such as Binance, Coinbase, or Kraken.

Step 2: Set Up an Account on the Exchange

Register an account with your chosen exchange by providing personal information and completing identity verification steps.

Step 3: Fund Your Account

You can fund your account using various methods, such as bank transfer, credit/debit card, or cryptocurrency deposit.

Step 4: Place a Sell Order

Navigate to the trade page for FET/desired cryptocurrency pair (e.g., FET/BTC). Choose the "Sell" option and specify the amount of FET you want to sell.

Step 5: Enter Order Details

Select the order type (e.g., market, limit, stop-limit) and set the desired price. Market orders execute instantly at the current market price, while limit orders execute only when the price reaches or exceeds the specified level.

Step 6: Review and Confirm

Carefully review the order details and make sure all information is correct. Once satisfied, click the "Sell" button to place the order.

Step 7: Wait for Order Execution

Depending on market conditions and the order type, your order may execute immediately or take some time. You can monitor the order's status in the "Open Orders" section.

Step 8: Withdraw Funds

Once your order is completed, the proceeds from the FET sale will be credited to your exchange balance. You can then withdraw them to your external cryptocurrency wallet or another exchange.

Additional Tips:

• Research and choose an exchange with low trading fees and high liquidity.
• Consider using limit orders to protect against price fluctuations.
• Monitor market conditions to identify potential trade opportunities.
• Store your FET coins in a secure cryptocurrency wallet.
• Keep track of your trades for tax reporting purposes.