Digital exchanges are a good place to buy and sell digital currencies. But the number of digital currency exchanges that provide these services is not small and which of them is suitable for trading. In answer to this question, it should be said that you should choose an exchange that has a low transaction fee and a good user interface. Kocoin exchange is one of these exchanges that is easy to trade and has low fees. In this article, we are trying to introduce you to trading training in Kocoin and explain its various parts to you dear ones.
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Kocoin exchange is one of the digital currency buying and selling platforms that was established in 2017. This exchange was founded by two people named Michael Gan and Eric Don, whose main office is in the island of Seychelles. Kocoin exchange is available on 3 platforms: Windows, Android and IOS, and you can install its application on your phone and also enter this exchange using your browsers. This exchange has not had any problems so far and has performed well until today and has never experienced system overload. This exchange, like other exchanges, has its own token, which you can use in your transactions to pay less fees in this exchange.
Buying a digital currency training course is suitable for those who intend to earn money from the digital currency market. People who intend to earn from this market should watch digital currency training courses and use them in trading.
Training to trade in Kokoin
Kocoin exchange, like other foreign exchanges, has 3 markets: futures, spot and margin. In the continuation of the Kocoin trading training article, we intend to introduce you to these sections so that you can trade better in this exchange.
Spot transactions are ordinary transactions that are done at the moment. This type of transactions has a simple function compared to futures and margin transactions, and without using any transaction enhancer, traders are engaged in buying and selling digital currency. Your assets are placed in this section after buying and selling, which you can transfer to your wallet by learning how to transfer digital currency. To enter this section, log in to your account and click on the word Trade at the top of the page and from there click on Spot as shown in the image below.
After entering this section, you must enter your Trading Password in the required field. After entering this password, which you can find in the Security Setting section, the spot trading menu will appear as shown in the image below. We are dealing with the Spot section in this part of the Bitcoin trading tutorial, so click on it. Spot trading has 3 sections: stop limit, limit and market.
Limit, market and stop limit orders
- Limit orders: In this section, you put a price for your chosen digital currency, if it reaches this price, your transaction will be done. For example, if you want to buy Bitcoin digital currency in the amount of 25 thousand dollars. You must enter the number 1 in the first box (Price) and in the second box (Amount) and when Bitcoin reaches the price of 25 thousand dollars, your order will be completed. The selling part of this part is exactly the opposite of the buying mode.
- Market Orders: Select this section to trade your digital currencies instantly. This part of trading training in Kocoin exchange is designed in such a way that you can buy or sell your desired digital currency with the best offer.
- Stop-limit orders: This part of trading training in Kocoin exchange is the same as the limit part, except that you can control losses. In this case, you consider an amount to buy or sell that digital currency, and when you get close to that price, you realize that now is the best time to buy or sell. For example, you want to buy bitcoins worth 30 thousand dollars, enter the value of 30 thousand dollars in the first box (Stop Price) and enter the value of 32 thousand dollars in the section (Price). By doing this, you will realize that now is the best time to buy bitcoins and you will buy more bitcoins. To sell, the price you enter in the (Price) box must be lower than the Stop Price.
In this part of the Kocoin trading tutorial, we are going to introduce you to the Margin trading section. Margin trading is suitable for those who want to give more power to their employers. In Kocoin exchange, you can use 5x margin trading and increase your profit or loss by 5 times. Margin transactions have two sections, Isolated and Cross, which have differences from each other. By choosing Isolated Margin, you choose a digital asset and give that trade 5x power. By using Cross Margin you put this leverage on all your trades and give them all 5x power.
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Futures trade training in Kocoin is as you enter the Trade section and spot trades. After entering this section, click on the Futures option, which is at the bottom right, as in the image below. Then you enter a new page where you set a price range for your transaction in the Limit section.
In the Stop section, you also put an amount that, if the price of your digital currency reaches it, your transaction will be stopped and you will be prevented from losing. The Stop section is the same as the Stop limit section in spot transactions and they have a completely similar process. At the end of each section, as in the image below, you can choose your trading leverage; By using leverage, you increase your profit and loss.
For example, if you use 100X leverage and make a profit of $100 on your trade, your profit will be multiplied by the leverage used and your final profit will be 10,000. Note that this mode is also true for losing money, so be very careful in using this section. Take learning to trade futures in COCOIN and any other exchange seriously and if you learn this part well, you will earn a good profit.