Welcome to this guide, where we are going to see how you can buy and sell cryptocurrencies in LBank in an easy and simple way.
We will look at what you need to select in order to be able to buy the cryptocurrency you want without making mistakes and cover the most common mistakes when buying and selling.
If you are new to using LBank, you can find guides to help you learn how to do certain things on this platform below.
With that said, let’s get started.
To buy, you must first have deposited funds, which if you don’t know how to do it, you can find a tutorial above. We will assume that you have USDT in your balance of assets, as it is the cryptocurrency that has more pairs with others, and that allows us to buy any other cryptocurrency in LBank.
With USDT in our balance, we will go to trade and spot. Here, we will see the buy and sell panel. The first pair we find and will show you is with LBK/USDT, the platform’s cryptocurrency. To change to the pair you want to trade, we will have to go to the top left, in search or in the magnifying glass.
Here, indicate the ticker of the cryptocurrency you want, for example, ADA and select the pair that appears with USDT. If more than one appears, click on them and see which pair it really is, until you find the pair with USDT. You can see other pairs with USDC, another stablecoin that you can also use.
Usually the first option you see is with USDT. With the pair selected, in the middle you can see the evolution of the price of that pair. We will focus on the bottom part, which is where the cryptocurrencies are bought and sold.
The first thing to select is the order type. Here, I recommend selecting market, as it is the option to execute the order at the moment. Unlike limit, where you indicate a price you want to buy the cryptocurrency, and once it reaches that price, the order will be executed.
With market indicated, the next thing is the amount of USDT you want to use. You can use the bar below to indicate a specific %. Just click on Buy and that’s it. In this example we will already have our ADA (Cardano) in the balance.
To sell, you only have to do the same step, but instead of going to buy or buy, go to sell or sell. This way, you can exchange any cryptocurrency for another one. Keep in mind that when you sell, you will exchange the first cryptocurrency for the second of each pair. For example, with ADA/USDT, when you go to sell, you will sell ADA to get USDT.
The same with, for example, BTC/ETH. Here, by going to sell, we will be selling BTC for ETH. So keep this in mind when you sell, that you have to look at the split. Usually most pairs are with USDT, and you will be able to sell your cryptocurrencies for USDT.
With USDT, you can use it to buy another cryptocurrency, or withdraw the money to your bank account with the steps we discussed in the guide above.
I hope it has helped you to know how to buy and sell within LBank in an easy and simple way. Remember that if you don’t have an account with gate.io, you can create one just below.