How to Use Poloniex: A Step by Step Guide
Poloniex is just one of many new exchanges in the cryptocurrency market these days, but is it right for you? The only way to find out is to try it yourself. It seems intimidating at first, but ultimately, the whole process is user-friendly. Here is a step by step guide to help you out.
HOW TO USE POLONIEX: GET A WALLET
To start off, make sure you have a wallet that works with one of the major cryptocurrencies like Bitcoin, Ethereum, or Litecoin. Coinbase is one of the most popular wallets out there, so go ahead and set up an account with them. It's incredibly easy to do so. All it takes is a login and password, and then you need to complete a quick verification process. Once you have your Coinbase wallet, buy some Bitcoin, Litecoin, or Ethereum.
CREATE A POLONIEX ACCOUNT
Now that you have your Bitcoin, Litecoin, or Ethereum stored in your Coinbase wallet, it's time to head over to Poloniex and create your account. Once again, this process is incredibly easy. Simply click "Sign Up," enter a few key details, and you're on your way. Now that you have your fancy account all ready to go, how do you use it? Let's get on to it right now.
This is the real meat of this article. The true reason you started reading in the first place. Anyway, let's get to work. Remember that Coinbase wallet you have with the Bitcoin in it? It's now time to send that Bitcoin from your Coinbase wallet to the exchange through their address. Now, you can convert your Bitcoin to the long list of cryptocurrencies they have. It's simple, easy and, if you have the right attitude, fun.
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