Step-by-Step Tutorial for Beginners: Crypto.com Exchange – 2024 Edition – Learn How to Buy/Sell Cryptocurrencies

Welcome to the Channel: A Beginner’s Guide to Using the Crypto.com Spot Exchange

Introduction

In this comprehensive beginner tutorial, we will walk you through step-by-step on how to use the Crypto.com spot exchange. We will cover everything from transferring assets from the app or external wallet, understanding pairings and the user interface, buying and selling using limit orders and market orders, setting stop losses, and providing tips and tricks along the way. If you’re new to the exchange, we have provided a link in the description and pin comment for you to sign up and receive a 25% bonus if you choose to stake some CRO tokens. Let’s get started!

Signing Up and Setting Up Two-Factor Authentication

To sign up for the Crypto.com spot exchange, you will need to go through a Know Your Customer (KYC) process. This involves submitting a photo or scan of your identification, such as a driver’s license or passport. If you’re already a Crypto.com app user, you can sign up by continuing as an app user. Setting up two-factor authentication is crucial for added security and enables other features on the platform. To set up two-factor authentication, go to your profile icon, click on “Security,” toggle on the two-factor authentication button, and follow the instructions to set it up using Google Authenticator or a similar app.

Transferring Assets from the Crypto.com App

If you’re already a Crypto.com app user, you can easily transfer your assets from the app to the exchange. Open the app, go to the “Accounts” tab, select “Crypto Wallet,” choose the asset you want to transfer, tap on “Transfer,” and then “Withdraw.” Select “Crypto.com Exchange” as the destination, enter the amount you want to transfer, and confirm the transaction. Once completed, you can find your transferred assets in the spot account on the exchange.

Depositing Crypto from Another Wallet or Exchange

If you want to deposit crypto from another wallet or exchange, go to the spot account on the exchange, click on the “Deposit” button for the desired crypto, and copy the deposit address or scan the QR code. Make sure the network matches on both sides of the transaction to avoid losing your coins. Paste the address or scan the QR code in your wallet or exchange, confirm the transaction, and wait for the deposit to be processed. Once completed, your crypto will be available in your spot account.

Understanding Pairings and the User Interface

On the Crypto.com spot exchange, each asset has its own pairings, which are quoted in tether (USDT) or other cryptocurrencies. The most popular pairings are the tether pairings. You can access the spot market by clicking on “Spot” at the top left of the screen. The price action chart shows an asset’s performance over a selected time frame, and you can customize the time frame using the options provided. The order book displays where market participants are interested in buying and selling, and the trading history shows executed trades in real time.

Placing Market Orders

Market orders are simple to place but have a few considerations. They execute immediately at the best available price from the order book, making you a market taker. This means you pay a higher fee compared to limit orders. Slippage is also a factor to consider, especially during volatile market conditions. To place a market order, toggle to the market order tab, choose whether you want to buy or sell, allocate a percentage of your available funds or enter a custom amount, and click on the corresponding button.

Placing Limit Orders

Limit orders allow you to be more strategic by choosing a specific price point to buy or sell an asset. These orders will not execute until the price reaches your specified level. Limit orders have lower fees compared to market orders and provide an opportunity for better entries and value. To place a limit order, toggle to the limit order tab, choose whether you want to buy or sell, enter the desired price and quantity, and click on the corresponding button.

Setting Stop Loss Orders

Stop loss orders are used to limit potential losses by automatically selling an asset if the price reaches a certain level. Crypto.com offers two types of stop loss orders: stop loss limit orders and stop loss market orders. Stop loss limit orders place a limit order to sell your coins at a specific price if the trigger price is reached. Stop loss market orders sell your coins immediately at the market price if the trigger price is reached. To set a stop loss order, toggle to the stop loss order tab, enter the trigger price and quantity, and click on the corresponding button.

Understanding Fees and Limits

Crypto.com offers different fee structures depending on whether you are placing maker orders (limit orders) or taker orders (market orders). At the time of recording, there are zero fees for placing maker orders and a 12% discount on taker fees. The fees can vary during different market conditions or promotions, so it’s essential to check the current fees and limits on the platform.

Conclusion

Congratulations! You now have a comprehensive understanding of how to use the Crypto.com spot exchange. We covered signing up, setting up two-factor authentication, transferring assets from the app or external wallets, understanding pairings and the user interface, placing market and limit orders, setting stop losses, and fees and limits. Remember to always do your own research and technical analysis before making any trading decisions. If you found this tutorial helpful, don’t forget to like and subscribe for more Crypto.com tutorials on our YouTube channel.

FAQs

1. How do I sign up for the Crypto.com spot exchange?
2. What is two-factor authentication, and how do I set it up?
3. How do I transfer assets from the Crypto.com app to the exchange?
4. Can I deposit crypto from another wallet or exchange?
5. What are pairings, and how do they work on the Crypto.com spot exchange?
6. How do I place market orders on the exchange?
7. What are the considerations when using market orders?
8. How do I place limit orders on the exchange?
9. What are the benefits of using limit orders?
10. How do I set stop loss orders on the exchange?
11. What is the difference between stop loss limit orders and stop loss market orders?
12. How do fees work on the Crypto.com spot exchange?
13. Where can I find the current fees and limits on the platform?