Welcome to this post, where we are going to see how you can buy and sell cryptocurrencies using the FTX platform.
For this, we are going to see how to do it using the desktop version, but the operation is very similar if you want to do it through its mobile app. Mention that we will focus on how you can buy and sell only, if you want to know how to deposit funds in FTX to be able to buy and sell, you can find a guide also in our page.
Buy and Convert
To buy and sell, we will be able to see our funds in wallet if we have deposited, either by credit or debit card, bank transfer or by sending cryptocurrencies from another Exchange or wallet.
In balances we will be able to see the cryptocurrencies we have, and usually we will have USD or USDT to buy other cryptocurrencies when depositing. Since they are the form of deposit and the most used to operate in FTX and other exchanges.
Once we have the funds, we will go to markets. Here, we will select in the spot menu. In spot we will look for the cryptocurrency we want to buy, you can also use the search engine at the top of the menu to do so. In various pairs such as BTC, ETH, SOL and many others, you will see pairs with USD and USDT. This means that you will be able to buy the cryptocurrency using USD if you have deposited, or with USDT, if you choose the pair with USDT and you have this cryptocurrency. This allows you to buy directly with the USD you have deposited without the need to transfer them to USDT as happens with other platforms.
Once you have selected the cryptocurrency pair you want to buy with your currency, you will see the buy and sell panel. If you scroll down, you will see the buy and sell option, which comes with buy selected by default. Here, you will be able to indicate different types of orders, such as limit, market, stop, stop limit, trailing stop, take profit and take profit limit. However, the one we are interested in and we are going to use is market. So we select market, which will execute the order at the current market price to exchange our USD or USDT for the cryptocurrency.
Once you have indicated market, indicate the amount in amount. You can indicate the amount in cryptocurrency or in its dollar value if you see it more clearly. With the amount indicated, just click on buy and that’s it.
Now if we go back to wallet and go to balances we will be able to see the amount we have of the cryptocurrency we just bought.
There is also another way to buy in a much simpler way. This way is by going to wallet, and clicking on convert with our USD or USDT.
In from coin we indicate the cryptocurrency we want to use, in this case it will usually be USD or USDT, and in to the one we want to get. For example, etehereum. It only remains to indicate the amount, you can click on max to change it all. Below you will see the cost, the price of the other cryptocurrency and the amount you are going to get in this case, Ethereum. Click on convert, and that’s it. You will already have the cryptocurrency exchanged for another one in a much easier and simpler way.
To sell the cryptocurrency we have just bought, we will have to do the same process but in reverse. This way, we will have USDT or USD to withdraw them to our account, or use them to buy another cryptocurrency we want.
In this case you can go back to markets to search for the pair, and instead of going to buy go to sell. Indicate market or market, the amount and click on sell. Also, you can click on convert and convert directly to USDT or USD, without going to market and in a simpler and easier way.
I hope it has helped you to be able to buy and sell cryptocurrencies using this platform in an easy way. Remember that if you don’t have an account with binance, you can create one just below.