🔥 Trade with Bybit: partner.bybit.com/b/999btc ($30,800 BONUS 💰)
In this video, I'm going to walk you through how to use the BingX exchange in just 10 minutes.
If you're a beginner, you'll get all the essential information on how to navigate the BingX exchange. You'll learn how to deposit funds via p2p, purchase cryptocurrencies on the spot market, and trade with leverage on futures contracts.
First, let's start with a simple registration on the BingX exchange.
Next, we need to fund our exchange wallet, and there are three ways to do it.
We can go to the "Buy Crypto" section and choose from various convenient methods like quick purchase, p2p, or fiat deposit.
In the p2p section, we find a suitable seller and buy USDT from them using rubles. It's essential to select a seller with a high level of positive transactions.
Once we've deposited funds into BingX, they're available in our general wallet.
Additionally, BingX provides us with a funding account and a trading account.
The trading account is necessary for spot trading, futures trading, and other trading operations.
We navigate to the spot section and initiate a transfer to move our funds from the funding account to the unified trading account.
Now, we can easily purchase any cryptocurrency of interest.
We can buy Bitcoin by clicking the "Buy" button, either at the market price or with a limit order.
Selling Bitcoin is just as straightforward; we can do so by clicking the "Sell" button.
For futures trading, we switch to the trading tab.
Futures trading carries significant risks since we don't own the underlying asset.
Here, we speculate on whether the price will go up or down. We also have margin and leverage options.
Taking too much leverage can lead to significant gains but also increases the risk of losing all our funds.
The higher the leverage, the closer the liquidation price.
I also recommend newcomers to choose isolated margin.
With this knowledge, you'll be equipped to use the BingX exchange effectively.
You'll be able to buy crypto, exchange it for any desired coin, sell it, withdraw your funds, and utilize margin trading.
Keywords: BingX exchange tutorial, Crypto trading for beginners, P2P deposits, Spot market buying, Futures trading with leverage, Margin trading risks, Isolated margin strategy