Crypto.com Exchange Tutorial: Beginners Guide on How to use Trade on Crypto.com

in this video i'm going to take you through the crypto.com exchange and this is going to be a beginner's guide so we're going to take a look at the platform how to deposit trade and withdraw as well as looking into the fees and the safety of the platform i'll also pop a timeline in the summary below so that you can look at specific parts if you want and for the latest information on crypto.com please check out everybodyhelps.com uk now the crypto.com exchange is part of a family of products and services offered by crypto.com so first up a little bit of information about them founded in 2016 with headquarters in hong kong crypto.com is a one-stop shop for crypto and has a well-developed ecosystem with over 5 million users using the platform worldwide crypto.com is constantly adding new features and offers to its products letting you buy earn and spend crypto all in one place first up is the crypto.com app which is your gateway to the entire crypto.com ecosystem then there's the exchange which is what we're going to be concentrating on today for crypto to crypto trading and pretty low trading fees they also have a decentralized wallet where you have control of your private keys and their own visa cards allowing you to spend crypto on the go while earning crypto as cash back as you spend and there's constantly more features being added to the never-ending list with the likes of earn credit and pay to but back to the exchange and the exchange was launched in 2019 and has its own feature sets too you can get discounted crypto with the syndicate where you can get 50 off featured assets for more advanced users crypto.com also cover margin trading plus you can stake cro on the exchange then there's supercharger which i've covered as well and this enables you to deposit cro and earn rewards based on your liquidity score there's also new signup offers and promotions can be found under the training arena the exchange is powered by their native token crypto.com cro meaning that cro holders will enjoy privileges from crypto.com by staking their token or using them for paying for the likes of trading fees the exchange itself is centralized meaning that customers assets are held by the company themselves just like traditional banks and all processes are performed centrally on software and computers owned and managed by krypto.com and this means that you're going to need to go through an element of kyc when you're signing up for an account now just in terms of security the exchange states that 100 of cryptocurrencies are stored offline in cold storage plus they've also secured a 360 million insurance policy to protect users against security breaches so let's jump in and take a look at how we can start using the exchange and you're going to need to sign up for account if you don't already have one and i'll pop a link to a sign up offer below similar to other crypto trading platforms crypto.com has a referral program to entice new traders by signing up to crypto.com using my link you'll receive fifty dollars of cro as a sign up bonus as long as you stake at least five thousand cro now for those not wanting to stake that amount anything below that will receive ten dollars of cro as a sign up bonus now i personally have two factor authentication set up in my account and this is something that i definitely recommend getting set up as it will just give you an extra level of security and you can also set that up under your settings and the first screen that we're going to enter is the dashboard this gives you access to your account balance access to your trading fees which we're going to go through in a moment plus some quick links to areas within the site but let's take a look at the markets tab at the very top here then in here you'll find information with regards to all the different trading pairs and markets available for trading essentially there's three different markets which are bitcoin us dollar tether and cro now trading in the crypto.com exchange is crypto to crypto meaning you'll need to have crypto to get started and you can't actually deposit via bank transfer and buy bitcoin with gbp for example however if you don't already have an equipment to get started with there is a way around this as you can actually deposit and buy crypto over on the crypto.com app using a bank transfer debit or credit card and easily move the crypto across over to the exchange and there's quite a few different pairs you can trade between here so let's take a look at how we can start to deposit our funds into the crypto.com exchange so we can start trading so if we head across to balances on the right-hand side here we then enter what's called our exchange spot wallet now because this is my demo account i do have some balances here however i can also hide any small balances and that'll just save me scrolling down now in this example i'm going to say that i want to deposit some eth and in here you're going to be presented with your address that you can copy and then you can send your crypto across to that address or you can use the qr code just make sure though that when you are sending ethereum that you only send ethereum to that address if for example you send bitcoin by mistake you're likely to lose your funds and all their deposits with crypto.com exchange are free too then once your funds are deposited you can click onto the trade button on the right hand side here and it will show you a list of available trading pairs or you can head up to markets and you can choose the market that you want and the trading pair too now in this example if you have some eth and you want to trade that for cro you need to head across to the cro market tab and click on to trade and now we're presented with the trading screen this will show me graphs and charts over time in relation to buy and sell orders you have the order book over here with the buys in green and the cells in red plus there's trade history showing you completed buy and sell orders then at the bottom here is this section where you can buy and sell your crypto so i have some eth and i want to trade it for cro so that i can use it for staking on the platform or to get reduced trading fees or simply just to hold the token so essentially i'm going to be selling my eth for cro so i need to be over on the sell side however if i wanted to buy ethereum with cro i'd go across to the buy section of the screen instead as in this way i'm going to be buying ethereum with cro and as you can see at the top here there's different types of orders too and these are limit it and there's some advanced order types in here too but first up let's discuss the fees that you're going to be paying when you're trading as these are dependent on the order types that you choose for your trade the fees that you pay with the exchange will all depend on a maker and taker fee now i'm not personally a day trader i hold my crypto for the long term and therefore my trading volume is less than 250 000 which puts me into vip tier 1. now if i place an order at the current market value and it's therefore completed immediately i'm deemed as a taker of the market as i'm taking the current market price and my fee is therefore 0.16 percent however if i become a maker of the market and define a new price that's not immediately matched by an order on the order book then i pay less and 0.10 so a taker is a market order and a maker is a limit order and you can also get discounted fees by staking their cro token which is what i'm actually trading for now and there's varying percentage discounts depending the amount that you stake but let's head back to our trading screen now and take a look at market and limit orders so first up let's take a look at the market order as this is essentially the simplest order type it completes immediately at the current market price but it does obviously incur a slightly higher fee for this convenience and as i said i need to be on the sell tab as i'm going to be selling ethereum for the cro token and in here you can enter in the amount that you'd like to buy or you can select 25 50 75 or 100 of your balance from your spot wallet then to go ahead with your order all you need to do is click onto the sell ease button and your order is going to complete immediately you'll then see your newly acquired cro tokens appearing under your balances alternatively you can create a limit order where you can define the price that you're going to pay and then just wait for the market to reach the price that you've defined so back over on my cell section as i'm going to be selling eth for cro it automatically pre-fills the last price in here for me but maybe you want to get more cro well in this case you can actually edit the price in here then you can enter in the amount of each that you're going to be selling and again you can use these percentages from your spot wallet balance and at the bottom here it'll then show you the amount of cro that you're going to be receiving then when you're happy click on to sell eth then you'll just need to wait for the market to reach the price that you've defined and whilst an order is open you can also cancel these so that if the market moves drastically in the wrong direction since you submitted your order you can cancel it and try again and the exact same processes will apply if you're on the buy side instead and buying east in this case with cro there's also some advanced order types available such as stop loss and take profit market orders but these are a discussion that are slightly out of topic for this beginner's guide and i'll cover them in a separate tutorial and once your order's complete it'll state that it's filled under your order history and the cro will then appear in your spot wallet so now that your crypto is in your spot wallet i personally recommend not keeping it on in exchange and instead it's better to transfer it to the safety of a wallet with access to your private keys one of the safest ways to do this is by storing it over on a hardware wallet like a ledger or a trezor where your crypto is kept offline and away from any potential hackers so to withdraw your crypto from your wallet choose withdraw and you then have the option to withdraw from an external wallet or to your crypto.com app now i have a separate tutorial for the crypto.com app if you do want to find out more information about that but if you're sending across to an external wallet and again in here you're going to need to make sure that you use the correct type of address and that the wallet actually supports that type of coin you'll need to enter your receive address into here then select it from the list and enter in the amount that you'd like to withdraw and it'll show you the total balance available balance and any that are in order at the moment and it'll also show you the transaction fee that you're going to be paying for withdrawing and the fee that you pay to withdraw will all depend on the type of crypto you're withdrawing and there's some minimum withdrawal amounts in here too and as i said you can withdraw that across from an exchange to an external wallet like a hardware wallet or even over to the crypto.com wallet and that completes how you can start trading with crypto.coms exchange and i hope you enjoyed this video today and if you did then please give me a like hit the subscribe button and please do head over to my website at everybodyhelps.com for more tips reviews and step-by-step guides thanks and i'll see you soon you

Channel: Every Bit Helps

Views: 182,374

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Id: HQ9d7sxrm4A

Length: 13min 4sec (784 seconds)

Published: Sun Dec 06 2020