This is a step-by-step simple beginner's tutorial on how to enter the cryptocurrency world and how to become an official crypto- trader / investor.
1. If you are from the EU and want to buy your first Bitcoin or Ethereum without fees, you might want to download the Lykke Exchange app for iOS and Android. Simply register and transfer the desired amount in Euro, Pound or your favoured currency. This transfer and registration might take 3-5 days.
2. The transferred amount in now visible in your Lykke portfolio. Choose which currency you desire to purchase by clicking on "Spot" and selecting the pair EUR-BTC as an example.
3. Enter the amount of EUR that you would like to convert into Bitcoin and confirm. The purchase is instant so that you now see the Bitcoin amount that you obtained and the rest of your EUR, in case you have just converted a part.
4. Congratulations, you know own Bitcoin!
5. Time to actually start trading Bitcoin for other cryptocurrencies. Open the website www.bittrex.com.
6. Click on "Log in" and then on "Sign up".
7. Enter your email and create a password. Keep this data stored safely at all times!
8. Go to the "wallets" tab on the top right corner and you will see a list with different cryptocurrencies.
9. Now click on the + next to Bitcoin for depositing your Bitcoin from Lykke to Bittrex.
10. A window appears, click on generate address an copy this address.
11. Open the Lykke app again, click on Bitcoin and then on withdraw. Now paste the previously copied address and choose the amount of Bitcoin you would like to transfer to Bittrex.
12. Confirm and wait for the Bitcoin to arrive in your Bittrex wallet. Once arrived, you can start purchasing plenty of different cryptocurrencies in Bittrex.
13. For this, click on "markets" in the top left corner and choose or search for the desired cryptocurrency.
14. You now see a graph and the "order book" displaying bids and asks. In the "trading" section above, you shall enter the amount of Bitcoin to be sold and the price of the desired coin to be bought. It is recommended to click on the highest positioned sell order in the "ask" table so that your purchase is fulfilled instantly. Note: the amount you want to buy must be covered by the "ask" amounts so you might need to select the third of fourth highest positioned "ask" if the first one only sells 2 coins but you'd like to buy 450.
15. Your Order is placed and should be filled which is signalled by a green box appearing.
16. Going back to the "wallets" section, you can now see your purchased new cryptocurrency.
17. Repeat this procedure with other desired cryptocurrencies to build a diversified investment portfolio.
- #CCIC