Detailed tutorial on buying, selling and trading SNX coin (with pictures and text)

To purchase Synthetix Network (SNX) coins, create an account on a reputable cryptocurrency exchange that supports trading pairs such as SNX/BTC or SNX/USDT.

Oct 12, 2024 at 07:42 pm

Step-by-Step Tutorial on Buying, Selling, and Trading SNX Coins

Step 1: Create an Account on a Cryptocurrency Exchange

To trade SNX coins, you'll need an account on a cryptocurrency exchange that supports Synthetix Network. Some popular exchanges that list SNX include:

• Binance
• Coinbase Pro
• FTX
• Uniswap
• 1inch

Step 2: Deposit Funds into Your Exchange Account

Once you have an account, you'll need to deposit funds into it to purchase SNX. You can do this by transferring cryptocurrencies from another wallet or using a credit/debit card. The specific methods available for depositing funds will vary depending on the exchange you choose.

Step 3: Find the SNX Trading Pair

Navigate to the exchange's trading page and search for the SNX trading pair against the cryptocurrency you wish to use to purchase it (e.g., SNX/BTC, SNX/USDT).

Step 4: Place a Buy Order

Select the type of order you wish to place. For a simple purchase, use a "Market Order." Enter the amount of SNX you want to buy or specify the fiat currency value you want to spend.

Step 5: Confirm Your Order

Review the order details carefully before confirming. Once confirmed, the exchange will execute your order based on the current market price.

Step 6: Securely Store Your SNX

Once you've purchased your SNX coins, it's important to store them securely. You can withdraw them from the exchange to a hardware or software wallet that supports SNX.

Selling SNX Coins

To sell SNX coins, follow these steps:

1. Return to the trading page on the cryptocurrency exchange.
2. Find the SNX trading pair.
3. Place a "Sell" order.
4. You can select "Market Order" to sell it at the current market price or use a "Limit Order" to specify your desired selling price.
5. Confirm your order details and execute the sale.

Trading SNX Coins

To trade SNX coins, you can follow the same steps as buying or selling, but you'll be exchanging SNX for another cryptocurrency. For example, you could trade SNX for ETH by placing a "Sell SNX/Buy ETH" order.

Additional Tips

• Research different exchanges and their features before choosing one.
• Consider the trading fees associated with each exchange.
• Use stop-loss or take-profit orders to manage your risk.
• Store your SNX coins in a secure location.