On our home page we explain the exchange of Cryptocurrencies in general. Because sometimes one of the used exchanges is down, we here provide alternative exchanges that can be used instead. Below we will explain the exchange process on Cryptopia. The tree steps to complete are:
- How to create an account on Cryptopia (step 3 on our homepage)
- How to get the deposit address to transfer funds to our Cryptopia account (step 4 on our homepage)
- How to trade Cryptocurrencies on Cryptopia (step 5 on our homepage)
If you want to compare different Cryptocurrency exchanges, head over to our Exchanges page.
Create an account on Cryptopia
This step can be used to replace step 3 on our homepage.
Use the following link to access the Binance website:
You will arrive on the Cryptopia website, directly on the register page, and see the following:
After clicking register, Cryptopia will send you a verification e-mail. Click the link in this e-mail to complete the registration procedure. Let’s get some funds in so we can start trading.
Get a deposit address to transfer funds
This step can be used in combination with step 4 on our homepage.
Before we can start trading on Cryptopia, we need to transfer funds to our account. For this we need the deposit address from our Cryptopia account (Cryptopia wallet) for the Cryptocurrency that we want to deposit.
Let’s start by logging into our Cryptopia account. On the top right corner of the screen, left of your username, is a Bitcoin sign. When you hover over this you have the option to choose Deposit. You will get a list of possible Cryptocurrencies and you can use the search box to find the one you want to deposit. In our example we want to deposit Ethereum (ETH for short).
Click on the green Next button. Cryptopia will now generate an Ethereum wallet for you to deposit you Ethereum in.
ATTENTION: Make sure you are using the correct deposit address (wallet) for the Cryptocurrency you want to deposit. When depositing Ethereum you need an Ethereum deposit address, when depositing Bitcoin, you need one for Bitcoins, etc. All these deposits are linked to your account but differ in which Cryptocurrency they can hold. Send Ethereum to a bitcoin or any other Cryptocurrency deposit address and you will lose it all!
Now that we know our deposit address, we can transfer funds to it.
No idea what this means? Or you have no Cryptocurrency yet? Head over to our homepage and follow our 5-step guide on how to start trading Cryptocurrencies. In step 1 and 2 we explain how to buy your first Cryptocurrency. Because you’ve already read this page, you can skip step 3 and parts of step 4, Nice!
How to trade Cryptocurrencies on Cryptopia
This step can be used to replace step 5 on our homepage.
The final step of this guide/tutorial is to trade our deposited Ethereum for another Cryptocurrency. I will not tell you what are the best options for this. There are enough other sites which can give you advice about which altcoin (bitcoin was the “first” cryptocurrency of its kind. All other Cryptocurrencies that are being created now are alternatives to bitcoin. Or in short, Altcoins) is likely going to make it and which is not.
For our example I will just trade all my Ethereum for MyriadCoin (XMY). I have been following this one for a while and really like the development and community. On the Cryptopia website, go to Exchange. Cryptopia gives you the option to trade 5 major Cryptocurrencies: Bitcoin (BTC), USDT, NZDT, Litecoin (LTC) and DogeCoin (DOGE). As you can see, Ethereum is not in this list. This means I will first have to trade my Ethereum for one of these 5 major Cryptocurrencies before trading it for MyriadCoin.
Lets trade our Ethereum for BTC first. We select BTC as base currency and then search for ETH (marked in red on the below screenshot). By clicking on ETH we see our trading pair ETH/BTC appear in the center screen:
We want to sell ETH to get BTC, so we have to choose the right frame (marked in blue on the above screenshot). We need to give in:
- The amount of ETH we want to sell, here being everything that we own;
- The price we want to sell at. For this I took the last price (marked in green on the screenshot above) and added a few cents;
- The sum, fee and total get automatically calculated en we can press “Sell ETH”.
As we bought above the last market price, it could take some time before our transaction gets matched to someone who wants to buy the ETH at the entered price. To see running orders on Cryptopia, you can scroll down on the current page. For me, the trade was done fast, so I can only show a screenshot of my handled transaction:
Now we can use our Bitcoins to trade for MyriadCoin (XMY):
Marked in red we again have the search for our trading pair (XMY/BTC). In green we can see the last price, and in blue we now have the buying of XMY. Here we give in:
- The price we want to pay for our MyriadCoin. As you can see I went a little below the last price;
- We want to sell all our Bitcoins so I copy my available amount in the Total box;
- Cryptopia will now automatically calculate the amount of XMY that I will receive, so we can now press Buy XMY.
We can again follow up our order by scrolling down. Once the order has completed, we can go to our Balance to see the amount of XMY we bought and it’s current value.
You are now the proud owner of a Cryptocurrency wallet on your favorite exchange, containing your preferred coins. Now it’s up to you to decide how you will continue. Either you start trading on a daily basis, based on the information in the market or some technical analysis. Or you just HODL (Hold On for Dear Life) and hope your coins reach the Moon.
But remember, always do your own research before investing funds, and never risk amounts you cannot afford to lose. Every investor wants to see his favorite Cryptocurrency shoot for the moon. And this can only happen if a lot of people start investing in it. So, of course, they will propagate it as the best coin to have ever existed with a guaranteed huge ROI. That’s why you always need to do your own research!