Hello to all crypto holders, today is another step-by-step tutorial on trading on the WhiteBIT cryptocurrency exchange!More even a tutorial on buying MWC cryptocurrency,because this is the project I am interested in now!
MWC is an in-progress implementation of the MimbleWimble protocol. Many characteristics are still undefined but the following constitutes the first set of choices:
- Clean and minimal implementation, and aiming to stay as such.
- Follows the Mimblewimble protocol, which provides hidden amounts and scaling advantages.
- Cuckoo Cycle proof of work in two variants named Cuckaroo (ASIC-resistant) and Cuckatoo (ASIC-targeted).
- Relatively fast block time: one minute.
- Fixed block reward over time with a decreasing dilution.
- Transaction fees are based on the number of Outputs created/destroyed and total transaction size.
- Smooth curve for difficulty adjustments.
There are a lot of useful innovative solutions — comparing the project with ZeCash and Monero, I chose MWC!
Let’s start buying-the first side of the coin is preparation-I chose to buy on WhiteBIT, because I have been trading here for a long time and the exchange suits me according to all the main criteria !In General, to start registering-everything is quite simple-you can find out more in my previous article about WhiteBIT!
Step 2: be Sure to pass the KYC procedure!
Step 3: make a Deposit in BTC or other cryptocurrency and then buy BTC on WhiteBIT!
Step 3.2: Cryptocurrency on WhiteBIT can also be purchased for Fiat funds:To do this, go to the “Fiat” tab and click Deposit:
1.Select the currency to be deposited
2.Enter the amount of currency for the Deposit!
3.Choosing the payment method!After payment, your funds are instantly credited to your wallet,go to the next step!
Step 4: Go to the “Live trading” tab(1) and write mwc in the search(2) for markets, then click on the MWC/BTC pair(3)!
Make some coffee(4)-optionally
We see a significant difference in the buy and sell price in the order book(5),so we use a limit order to buy MWC(6)!We set the price one point higher than the available purchase price in the order book(7),so that if there are sales on the market, the MWC token will immediately go to us!
Click on the buy tab and wait for the order to be executed!In the meantime, you can have a Cup of coffee,it’s already a little hot)
I hope this article was useful to you!Below I will leave links to the resources of the MVC project,if you are not familiar with it yet, welcome, don’t forget to thank me with claps, see you again!
for miners- https://www.mwc.mw/miners
Whitebit trade pair: https://whitebit.com/trade/MWC_BTC
Gui wallet: https://www.mwc.mw/downloads
My tg username: @Petrson3