Cryptocurrency has come a long way since the initiation of Bitcoin in 2009. In the Middle East region, the United Arab Emirates (UAE) has been the leader in taking action and assuring the development and growth of new blockchain technologies in the financial sectors.
Today’s market allows investors to buy and sell different types of cryptocurrencies like Bitcoin, Ethereum, Ribble, etc. Most of these trades are done through an online cryptocurrency exchange website. Which is open for all 7 days and 24 hours. Who has enough knowledge about the market and trading can gain more revenue pay off.
Now, this blog going to explain how to buy and sell bitcoin or other cryptocurrencies for USD/EUR in IMM Exchange.
Before going to the, just remember how to buy and sell cryptocurrency with fiat.
Buying and Selling Cryptocurrency With Fiat
Bitcoin is a long-term investment in these radical economic states that returns a greater value over time of purchases, but we need fiat-currencies like USD, EURO, INR, etc to purchase digital assets. The world still runs on fiat currency, so being able to exchange bitcoin for these currencies is the easiest way for everyone.
Once you have your bitcoin wallet, you can use a traditional currency to buy or sell the digital coins through payment methods such as a credit card, bank transfer (ACH), or debit card on a cryptocurrency exchange platform.
After, the transaction bitcoin will translate securely through the wallet.
All major exchanges give the fiat to crypto or crypto to fiat pay or buy cryptos through their own conventional money. Bitcoin is now a widely accepted payment value. You think trading for fiat is the only option, as there are many gateways and alternative payments available.
Users are becoming more comfortable with investments across the money whether it’s stocks, bitcoin, or bonds. The Crypto trading market offering quick, easy access and safe transactions systems grow more fiat currency users in the crypto world.
Now moved out, how to buy/sell Bitcoin and other cryptocurrencies using USD / EUR.
IMM Exchange is one of the best cryptocurrency exchange platforms in the middle east countries, allowing you to trade in 13+ crypto coins with the highest liquidity. It has a simple and convenient user interface that supports limitless trading on the IMM Exchange platform.
It is especially beneficial for fiat users as they can use trade USD/ BTC or ETH/EUR on the platform.
How to buy/sell cryptocurrencies using USD / Eur?
Step 1: The new user can register / login into the account on the IMM Exchange website.
Step 2: If you are a beginner trader click the exchange option on the top right corner and select the basic option.
Step 3: If you are the expert trader same go to the above-mentioned option select the pro option.
Step 4: IMM exchange offers 13 types of cryptocurrency to their traders they can choose the different multi-currency pairs.
Step 5: If you need a cryptocurrency like bitcoin or another crypto through fiat currency you can choose BTC/ USD trade option, ETH / USD option, and BTC/EURO, etc.
Step 6: Once you select the worthy crypto and fiat currency put on buy or sell order in IMM Exchange.
Step 7: Once the order is placed, the match engine algorithm matches the exact buy or sell order in the trading page of IMM Exchange.
Step 8: In IMM Exchange, the is an order cancel option when you know the cryptocurrency price fluctuates.
Step 9: Once the trade is completed, the seller will receive money through the buyer choosing payment modes.
Step 10: Buyers can get the crypto or fiat currency in their encrypted e-wallet.
IMM Exchange Guides you to Protect your Bitcoins and Avoid Scams
If you are new to cryptocurrency, some fraud users may try to take advantage of you, here are some of the most common mistakes to avoid.
1. Identified the fraud account
If you are new to the cryptocurrency in any exchange website. The buyer can pay you with the other's account before you release the crypto. Some may send their payment account information through chat messages and ask you to transfer the money to that account. After you transfer the money, they will block you or report your scam.
The best way to avoid this situation is to verify the user's identity and select your partner through verifying identity details, feedback.
2. Reversible payment
In such cases, a buyer transfers the money to the seller's bank account to make you release the crypto. Within 72 hours, the buyer calls the bank which made the payment and tells them that he has not made the purchase, so the bank will cancel the payment, refund the amount to the buyer's bank account.
An easy way to protect yourself from this type of scam is to send the proof of transaction receipt to the seller chat.
If you find this is useful for your trading journey don't miss out on our latest blogs.
Refer to this blog: How to Buy Bitcoin in the UAE: A Step-By-Step Guide | IMM Exchange
Such an IMM Exchange fascinates a website for digital asset trading with basic features. But, the exchange will come with attractive UI/UX and advanced trading features, and smartphones handle the IMM Exchange trading app soon.
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