EgeMoney provides services in many crypto types, including BTC (Bitcoin). In this article, we will explain how to buy bitcoin within the platform.
What is bitcoin?
Bitcoin is a cryptocurrency invented by an unknown person or group named Satoshi Nakamoto. Although it was quite worthless in the years it was first produced, it has been on a great rise in recent years and has started to be used as an important investment tool. The current price of Bitcoin is changing rapidly.
One of the most important features of Bitcoin is that it does not need an intermediary institution or a broker. It is also not dependent on a central authority. It is naturally unaffected by government policies. Thus, it provides a more reliable investment to its buyers.
Buying Bitcoin with EgeMoney
- First of all, you must login to the website. Users who have not completed the KYC steps cannot buy BTC.
- Secondly, click on the “Buy Bitcoin” heading in the menu at the bottom of the site.
Here, you will see a panel where you can see details about Bitcoin. You can see the prices in chronological order in the order book on the right.
The “Market pairs” section in the upper left shows the status of the selected pair in the last 24 hours. So you can see the daily highest and lowest prices. Also available is the percentage change in 24 hours.
You can choose the pair you want from the section under the market pairs section. The information of each pair you choose is transferred as described above.
Market Depth chart is an analysis method that shows the buying and selling volume. The green colored lines are for “Buy” and the red ones are for “Sell”.
Choosing order type
When you scroll down the page, you will see the section to buy bitcoin. First of all, you must choose your order from 4 options:
- Limit: In a limit order, you entry a price and the trade will complete when that price is reached.
- Market: Orders that are entered only by specifying the quantity.
- Stop Limit: In the stop limit order, unlike the limit order, you enter the “Stop” amount and when this amount is lowered, the desired trade will take place automatically.
- OCO: Stop Limit and Limit order are combined in OCO orders. The presence of one cancels out the other.
- After selecting the order you want, enter the amount you want to receive in the second field. In the “Available” line, you will see the amount of FIAT you currently have.
- Finally, after entering all the amounts, click on the “Buy BTC” button.
Additionally, you can buy not only BTC but many different cryptocurrencies on EgeMoney. Don’t forget to follow EgeMoney Blog for more information.