VLX (Velas) detailed buying and selling and trading tutorial (illustration)

To purchase Velas (VLX) on a cryptocurrency exchange, users create an account, fund it, search for the VLX trading pair, and place a buy order specifying the amount and price.

Oct 04, 2024 at 02:12 pm

VLX (Velas) Detailed Buying, Selling, and Trading Tutorial (with Illustrations)

Step 1: Create a Cryptocurrency Exchange Account

Choose a reputable cryptocurrency exchange that supports VLX trading, such as Binance or BitMart. Create an account by providing your personal information and verifying your identity.

Step 2: Fund Your Account

Transfer funds (e.g., fiat currency, Bitcoin, Ethereum) from your bank account or an existing cryptocurrency wallet to your exchange account. You can use a variety of payment methods, including wire transfers, credit/debit card purchases, and third-party services.

Step 3: Search for VLX

Navigate to the "Markets" or "Trading" section of the exchange. Search for the VLX trading pair you want to trade (e.g., VLX/USDT, VLX/ BTC).

Step 4: Place a Buy Order

To purchase VLX, click on the "Buy" button and specify the amount and price at which you want to buy. You can choose between limit orders (executing at a specific price) and market orders (executing at the current market price).

Step 5: Place a Sell Order

To sell VLX, click on the "Sell" button and specify the amount and price at which you want to sell. You can also choose limit and market orders for selling.

Step 6: Confirm the Transaction

Review the details of your order, including the quantity, price, and total amount. Click on the "Confirm" button to execute the trade.

Step 7: Monitor Your Transaction

Depending on the liquidity of the VLX market, your order may be executed immediately or take some time to fill. You can monitor the status of your trade in the "My Orders" section of the exchange.

Step 8: Withdraw Your VLX (Optional)

If you wish to store your VLX securely, you can withdraw it from the exchange to a hardware wallet or a third-party cryptocurrency wallet that supports VLX. Navigate to the "Withdraw" section of the exchange and provide the destination address for your VLX.