Poloniex Beginner's Guide: How to Buy and Sell Cryptocurrencies

If you're new to cryptocurrency trading, Poloniex offers a straightforward platform to buy, sell, and exchange digital assets like Bitcoin, Ethereum, Litecoin, and more. This guide covers essential steps for beginners, from withdrawing funds to trading altcoins.

How to Withdraw Bitcoin from Poloniex to Coins.ph

1. Log in to your Poloniex account.
2. Navigate to Balances > Deposits & Withdrawals.
3. Locate your BTC wallet and click Withdraw (next to "Deposit").

4. Enter:

   • Your Coins.ph BTC wallet address.
   • The Bitcoin amount to withdraw.

5. Click Withdraw, then verify the transaction via:

   • 2FA code (if enabled).
   • Email confirmation link.

Note: For non-Bitcoin cryptocurrencies (e.g., ETH, LTC), first sell them for BTC before withdrawing.

Selling Cryptocurrencies on Poloniex

1. Go to Exchange.
2. In the Market box (right panel), select the coin to sell (e.g., Litecoin).
3. In the order box (lower right), enter the amount to sell.
4. Click Sell.

Buying Cryptocurrencies on Poloniex

1. Navigate to Exchange.
2. In the Market box, choose your desired cryptocurrency (e.g., Ethereum).

3. In the buy order box (lower left):

   • Enter the amount (e.g., 10 ETH).
   • Click Buy.

👉 Poloniex Trading Tips

Managing Your Portfolio

• Track holdings under Balances > Deposits & Withdrawals.
• Withdraw to external wallets or keep funds on Poloniex.

FAQs

1. How long do Poloniex withdrawals take?

• Bitcoin withdrawals typically process within 30 minutes to 2 hours.

2. Is Poloniex safe for beginners?

• Yes, with features like 2FA and email verification, but always enable security settings.

3. Can I trade altcoins directly for fiat on Poloniex?

• No, Poloniex supports crypto-to-crypto trading only. Convert altcoins to BTC first.

4. What’s the minimum trade amount?

• Varies by coin; check the order book for market-specific limits.

👉 Secure Your Poloniex Account

Key Takeaways

• Withdrawals require email/2FA verification.
• Trade altcoins by converting to Bitcoin first.
• Use the Market box to select coins for buying/selling.

For advanced strategies, explore limit orders and margin trading as you gain experience.