The first step should be selecting the exact currency you wish to trade on, and checking the volume of the coin being traded within a given time frame, let’s say 24 hrs
Secondly, you chose your trading pair.
You can choose BTC/ the coin or ETH/the coin or any other combination
Step 3 you go to the trade part of the exchange, and check the official selling cost of the coin and compare it with what those who are about to sale are offering theirs for and you choose the amount that suits you though it’s preferable to choose something close to the official selling price
And you have the option of choosing if you’re going in 25% or 50% or 75% or 100% depends on how much you’re willing to spare and the threshold for trading on the particular exchange you’re using
After you’ve made your bid, the system will automatically credit you with the number or units of coins you’re asking for if it falls within the official trade sum.
And after that has been done, you watch record the cost at which you bought the coins , both the Dollar equivalent and the unit of the coin you used, maybe in satoshi or wei as the case maybe
NB
The best way to know if the market is taking a bearish or bullish turn is by proper reading of the chart which is found on the exchange platform, and it’s easier understood if you set it to the Candlestick pattern so you can know when the market is about to turn up or down.
So after putting down the record of your purchase, you keep a close eye on the market because it can turn bearish or bullish, and the key to having a good trade is patience and timing. Because being too greedy to hodl for too long may turn disastrous due to the volatility of the Cryptocurrency market
