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QUICK HOTBIT EXCHANGE TUTORIAL: BUYING,  SELLING  CRYPTOS AND WITHDRAWAL  ON HOTBIT EXCHANGE

STAGE 1:

·       Create an account

·       If you are a new user, Click Here to create a free Hotbit account and verification.

·       Already have a Hotbit account, proceed to stage 2.

STAGE 2: – TO TRANSFER MONEY TO HOTBIT EXCHANGE  -  THE EXAMPLES USED IN THIS TUTORIAL ARE BITCOIN AND USDT

It is worth noting the following:

 As at the time of writing up this tutorial, you cannot transfer money directly from your bank account into your HOTBIT exchange / platform account.

You cannot directly buy cryptos from your HOTBIT exchange account with a debit or credit card.

·       Go to HOTBIT Homepage

·       Point you mouse to wallet on the right at the top of the page and click on deposit

·       Click on crypto

·       Click on the arrow to choose your desired crypto, for example Bitcoin.

·       Copy the displayed wallet address, for example:

  1BorPM8VanSsTgd9ggMwRUBJCjKM2qDg7C 

·       At this stage, you must already have a verified account with one of the main crypto exchanges, for example COINBASE.

·       Log into your Coinbase account or your account in other main Crypto Exchanges.

·       Bear in mind that you have already copied the (Bitcoin) deposit address:

  1BorPM8VanSsTgd9ggMwRUBJCjKM2qDg7C  

·       You must ensure that you copy the exact (Bitcoin) deposit address from HOTBIT otherwise your money will go missing on the network.

·       Go to Coinbase portfolio

·       Click on Bitcoin -  you must ensure that you have already purchased the Bitcoin crypto on Coinbase and it is in your portfolio.

·       SEND / RECEIVE option

·       Ensure send is highlighted

·       Enter the amount

·       To – Select your desired option from To Box (Mobile, email or wallet address, for example:

 1BorPM8VanSsTgd9ggMwRUBJCjKM2qDg7C

·       Choose wallet address if you are sending from Coinbase to another platform for example, HOTBIT and enter the recipient’s wallet address, specific to the cryptos being sent. In this case, you will enter the deposit wallet address copied from HOTBIT exchange.

·       Choose mobile or email if you are sending to another Coinbase account and enter the recipient’s mobile number or email.

·       You can enter a little note which is optional

·       Pay with -  Select the cryptos to be sent, in this case, BITCOIN, for example:

 1BorPM8VanSsTgd9ggMwRUBJCjKM2qDg7C

·       Click on continue and follow the wizard to complete sent action

·       It will take between 10 and 30 minutes for your transfer to reflect on the Hotbit Exchange.

·       Please note that network fees is applicable when you transact a transfer.  

·       Log into HOTBIT Exchange

·       Go to homepage

·       Point cursor to wallet at the top of the page on the right.

·       Check on transaction history to see whether your Bitcoin transaction has been completed

·       Check status to see whether it is pending or complete

·       If it is complete, then you are ready to buy the required cryptos.

STAGE 3: – BUYING CRYPTOS ON THE HOTBIT EXCHANGE  

·       Go to HOTBIT Homepage.

·       Click on EXCHANGE at the top of the page

·       Click in the SEARCH BOX to check whether the cryptos you want to buy and its associated pair are available on HOTBIT exchange -  for example BITCOIN.

·       Enter Bitcoin (BTC) in the search box

·       Bitcoin will be displayed along with the associated pair (USDT)

·       It is worth noting that USDT is the associated pair of most cryptos on HOTBIT exchange

·       Click on it

·       Buy / Sell will be displayed

·       Note that HOTBIT only has LIMIT ORDER and does not have market order.

·       The fastest way to purchase cryptos on Hotbit would be as follows:

·       Scroll up to the ORDER BOOK ZONE on the top right of the page

·       Red digits will be displayed in a column.

·       Click to the last row of red digits in the red column.

·       Scroll down to BUY (Green).

·       Put your cursor or mouse on the green bar below VOLUME and slide to the right until you get to the desired amount of BITCOIN that you want to buy.

·       Click on the BUY button to complete your purchase.

·       Next, go to OPEN ORDER to see the status of your order.

STAGE 4:

TO SELL CRYPTO CURRENCIES ON HOTBIT for example, Bitcoin.

·       Go to HOTBIT Homepage

·       Point your mouse on WALLET

·       Click on MY FUND to see all your purchased cryptos. (This is like your portfolio)

·       Go to the desired crypto that you want to sell.

·       Point your mouse on trade at the far right hand and the associated pair will be displayed, for example Bitcoin.

·       Click on the associated pair USDT, to take you to the buy / sell page.  

Scroll up to the ORDER BOOK ZONE on the top right of the page

Green digits will be displayed in a column.

·       The fastest way to sell your cryptos will be to click the first row of green digits in the green column

Go to the sell (RED) area to place a limit order

·       Put your cursor on the RED bar below VOLUME and slide to the right to get the quantity of BITCOIN you want to sell.

·       Click on the SELL (RED) button to complete.

·       Go to OPEN ORDER

·       The status of your order will be displayed.

STAGE 5:

WITHDRAW CRYPTOS FROM HOTBIT EXCHANGE 

Note: Be sure to select the right cryptocurrency. If you send crypto to the wrong address (eg, Bitcoin to a Bitcoin Cash address), your crypto will be lost.  

·       Go to your COINBASE portfolio and choose Bitcoin wallet, for example: 

 16VkR6Cqy46L5ZxD4aQCcXRdmG33aNSFLq  

·       Send / Receive will be displayed

·       Click on RECEIVE

·       The wallet address will be displayed

·       Copy this address. You must ensure that you copy the entire address. For example, Bitcoin - Coinbase receive address:

 16VkR6Cqy46L5ZxD4aQCcXRdmG33aNSFLq  

·       Go to HOTBIT Homepage

·       Point your cursor to wallet and click on WITHDRAWAL: Three buttons will be displayed – Crypto, fiat and internal transfer

Click on CRYPTO - click on the arrow to select the crypto that you want to withdraw or send to your Coinbase account .

·       Select BLOCKCHAIN and click on (TRC20) button to display available amount.

·       Paste the received Bitcoin wallet address you copied from Coinbase in the WITHDRAWAL ADDRESS box. For example, Bitcoin - Coinbase receive address:

 16VkR6Cqy46L5ZxD4aQCcXRdmG33aNSFLq

·       Click on submit.

CRYPTOCURRENCY INVESTMENT RISKS 

All investments has risks and digital currency is no exception.

Some of the risks in digital currency investment are as follows:

·       The exchange / platform / website holding your digital currencies or cryptos could disappear or shut down, resulting in the loss of all your cryptos. An example of such an exchange is MTGOX.

·       You could misplace the private key to your wallet

To avoid this, it is advisable to move your money to a private wallet outside the exchange.

Note: Sending Crypto is irreversible

·       Before you send Bitcoin (BTC) or any CryptoCurrency to recipient, please make sure that:

·       You're sending to the correct wallet address.

Written by Sarah Uwajeh for 247broadstreet.com  

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