How to trade VLX (Velas) to others? Graphic tutorial on selling VLX (Velas)

To facilitate seamless trading activities, individuals can follow a comprehensive process involving obtaining a VLX wallet, selecting a trading platform, creating a trading order, receiving payment, releasing the VLX tokens, and confirming the transaction.

Oct 02, 2024 at 02:00 pm

How to Trade VLX (Velas) to Others: A Comprehensive Guide

VLX (Velas) is a native cryptocurrency of the Velas blockchain, used for gas fees, staking, and various blockchain operations. To facilitate trading activities, it is crucial to understand the steps involved in successfully trading VLX to others.

Prerequisites:

1. Obtain a VLX Wallet: Choose a reputable wallet that supports VLX storage, such as Guarda, Coinomi, or the native Velas Wallet.
2. Fund Your Wallet: Transfer VLX tokens from an exchange or another wallet into your chosen VLX wallet.

Trading VLX to Others:

1. Select a Trading Platform: Determine a suitable platform for trading VLX, such as a cryptocurrency exchange or a peer-to-peer (P2P) marketplace like Binance, Kraken, or LocalBitcoins.
2. Create a Trading Order: Log in to your trading account and navigate to the order form. For selling VLX, select "Sell" as the order type, enter the amount of VLX you want to sell, and specify the desired price or limit (optional).
3. Receive Payment: Once the trade is completed, the buyer will send payment to your specified payment account, typically through a bank transfer, PayPal, or other payment gateways.
4. Release the VLX: After receiving the payment, authorize the release of the VLX tokens from your wallet to the buyer's wallet address.
5. Confirm the Transaction: Once the VLX has been transferred, check your wallet balance and the blockchain explorer to verify the transaction's success.

Additional Tips:

• Set a Secure Password: Use a strong and unique password for your VLX wallet to protect your assets.
• Enable Two-Factor Authentication (2FA): Protect your wallet with an additional layer of security by enabling 2FA.
• Research Different Trading Platforms: Compare trading fees, security measures, and available payment options before selecting a trading platform.
• Be Aware of Scams: Exercise caution when dealing with unknown individuals or platforms. Avoid clicking on suspicious links or providing your personal information.
• Monitor the Market: Keep track of VLX's price fluctuations and market trends to make informed trading decisions.