A Step-by-Step-Guide on how to buy Bitfex (BFX)
Step 1 – Join Coinbase and get 10$ for free You'll first need to buy one of the top-tier coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for Altcoins. Click below to register and getting your first 10 Dollar.
Step 2 – Transmit Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Bitfex (BFX) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow these easy steps) Make sure you've chosen the correct coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etcetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our how-to).
Step 3 – Find (BFX) Bitfex As soon as your deposit has been verified, you'll now have access to your assets and you can commence purchasing and trading. To invest in (BFX) Bitfex on Binance, you'll want to go to the tab which is called “Exchange” and mouse click on “Basic”. To find (BFX) Bitfex, you'll need to insert the cointype (BFX) into the search box, which is highlighted in the image. Make sure you have choosen the correct pairing, we have highlighted this also. Click on “BFX/BTC” to go ahead.
Step 4 – Purchasing Bitfex (BFX) Once you have spotted Bitfex (BFX), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). And now we are going to create our Limit Order. The ”Price” field will be filled with the latest price Bitfex (BFX) was sold for. You can change this to your desired price. The field with the “Amount” tag is the amount of BFX you like to buy. The ”Total” field is the whole price in BTC that you will pay for the whole amount of BFX. When you are happy, make a mouse click on “Buy BFX”. Your order will be filled as soon as a Seller sells their BFX for the price you gave.
Step 5 – Withdraw (BFX) Bitfex Unless you're frequently trading, you should never keepyour crypto coins on an Exchange for an extended time frame. To withdraw your (BFX) Bitfex, go to the tab called “Funds” and mouse click on “Withdraw”. (BFX) Bitfex can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate (BFX) Bitfex by using the provided drop-down box. Enter the quantity of (BFX) Bitfex you'd like to withdraw. Take into account the presented fees/minimums. Also make sure you have entered your right withdraw address. If you're glad, click “Submit”. You could be requested for verfication via phone/email ahead of a withdrawal.