How to trade on Koinex? How to get started on Koinex?:-
Koinex is first place in India which provides the facility of buying Bitcoins and other coins in INR. There are selected and few exchanges in India, which facilitate the service of buying more than one cryptocurrency or Bitcoins. It began in August 2017 and allows the exchange of five cryptocurrencies, Bitcoin being one of them. The others are Etherum, Ripple, Latecoin and Bitcoin Cash. Follow these steps to start trading using Koinex.
One needs to have KYC verification or registration to get started with Koinex. The site will ask you the simple details which one has to fill to get an account created on Koinex. The front and back scan copy of Aadhar Card is mandatory along with Pan Card, Bank Details (the account which one would wish to link with Koinex for transactions).
Step-2) Buying First Coin on Koinex:-
By clicking on the ‘Balances’, one would get several options for depositing money in Koinex.
- a) Choose payment gateway option.
- b) Or use an online transfer with the help of adding a unique account number to make an online transfer.
Credit will be done, which will be needed to buy a coin.
Step-3) Buying selected coin:-
After you get the balance deposited in Koinex, select the drop-down present at the top your screen and select the coin you wish to purchase. Bedore doing this, make sure INR/BTC value is entered and have a keen look at the lowest sell order and your own balance. Then go to the ‘BTC Volume ’ box and add your coin amount and the present rate of INR in the ‘Price per BTC’ box. To confirm the order, push ‘buy’.
Step-4) Selling coins on Koinex:-
After you have earned some gain and you have the capability to sell some of those gains, click on the drop-down with the coin name of which you have bought earlier, say Bitcoin and then simply enter the number of coins you wish to sell. After this, you have to add the rate in the box of ‘Per Price BTC’. The moment any other user gets the buyer amount which matches with yours, then this amount will start reflecting in your Koinex account.
Step-5) Withdrawing Money:-
This is pretty simple. You just need to click on the ‘Balance’ tab which will be present at the top of your screen while you will be working on Koinex site. As soon as you click it, you will see a link to ‘New INR Withdrawal Request’ and using this link you have to enter the amount you want to withdraw. Then that amount will get reflected in the bank account you have linked with Koinex.
These were the indispensable things a rookie needs to know to initiate working in Koinex. Hope this article helped.