HOW TO TRADE ZUGACOIN
HOW TO TRADE ZUGACOIN; Zugacoin is a relatively new cryptocurrency that was created to solve the financial inclusion problem in Africa. It is an innovative solution to the challenges faced by traditional banking systems and is becoming increasingly popular in the crypto world. Zugacoin is primarily adopted by users in Nigeria, as it was created by a Nigerian businessman to address some of the economic challenges faced in the country. However, Zugacoin has been gaining popularity worldwide, with its listing on several international exchanges making it accessible to a global audience.
How to trade Zugacoin
Step 1: Choose a Zugacoin Exchange
The first step to trading Zugacoin is to choose a reliable and reputable exchange that supports Zugacoin trading. Some of the exchanges that currently support Zugacoin include Bitfxt, Bithumb Global, and Latoken. It is important to conduct thorough research on the exchange you choose before depositing funds to ensure that it is safe and secure.
- Bitfxt: Bitfxt is a Nigerian cryptocurrency exchange that supports the trading of Zugacoin. To trade Zugacoin on Bitfxt, you first need to create an account and complete the KYC verification process.
Once your account is verified, you can deposit Nigerian Naira (NGN) into your account and then use the NGN to buy Zugacoin. The platform allows you to place market or limit orders to buy Zugacoin at the current market price or a specific price respectively. You can also sell your Zugacoin on the platform for NGN.
- Bithumb Global: Bithumb Global is a global cryptocurrency exchange that supports the trading of Zugacoin. To trade Zugacoin on Bithumb Global, you first need to create an account and complete the KYC verification process.
Once your account is verified, you can deposit USDT, BTC, or ETH into your account and then use these cryptocurrencies to buy Zugacoin. The platform allows you to place market or limit orders to buy Zugacoin at the current market price or a specific price respectively. You can also sell your Zugacoin on the platform for USDT, BTC, or ETH.
- Latoken: Latoken is a global cryptocurrency exchange that supports the trading of Zugacoin. To trade Zugacoin on Latoken, you first need to create an account and complete the KYC verification process.
Once your account is verified, you can deposit USDT, BTC, ETH, or other cryptocurrencies into your account and then use these cryptocurrencies to buy Zugacoin. The platform allows you to place market or limit orders to buy Zugacoin at the current market price or a specific price respectively. You can also sell your Zugacoin on the platform for USDT, BTC, ETH, or other cryptocurrencies.
It’s important to note that each platform has its own fees and trading rules, so make sure you read the platform’s documentation before you start trading Zugacoin. Additionally, always remember to keep your Zugacoin in a secure wallet to ensure the safety of your funds.
Step 2: Create an Account
Once you have chosen an exchange, the next step is to create an account. This involves providing your personal details and proof of identity. You will be required to provide your full name, email address, phone number, and a government-issued ID such as a passport or driver’s license.
Step 3: Fund Your Account
After creating an account, you will need to fund it with cryptocurrency or fiat currency, depending on the exchange. Zugacoin can be purchased with Bitcoin or Ethereum, so you will need to first purchase one of these cryptocurrencies before you can trade Zugacoin. Some exchanges also allow for fiat deposits via bank transfer or credit card, but this will depend on the exchange’s policies.
Step 4: Place an Order
With your account funded, you are now ready to place an order to buy or sell Zugacoin. The exchange will have a trading platform that allows you to place an order at a specific price or choose a market order. A market order means you will buy or sell at the current market price, while a limit order means you set a price at which you want to buy or sell.
Step 5: Withdraw Your Funds
After successfully buying or selling Zugacoin, you may want to withdraw your funds back to your wallet or bank account. Most exchanges will have withdrawal limits and fees, so it is important to check these before making a withdrawal request.
Tips for Trading Zugacoin
- Do Your Own Research: It is important to conduct thorough research on Zugacoin and the exchange you plan to use before investing. You can do this by visiting the official website of Zugacoin. This will provide you with basic information about the project, its features, and its potential. The website will also give you information on how to buy Zugacoin, where it is traded, and the latest news and updates about the project. You can also read the whitepaper, which is a detailed document that explains the technology and the purpose of the project. It also includes the team behind the project, the timeline, and the roadmap for the project. This document will help you to understand the project and its potential for growth. Check the market to see how Zugacoin is performing in terms of price, market capitalization, trading volume, and other metrics. This will give you an idea of the potential of the coin and how it is being perceived by investors and traders. Join a community also if there’s one.
- Keep Your Private Keys Safe: Make sure to keep your Zugacoin private keys safe and secure. You may want to consider using a hardware wallet to store your Zugacoin. It is important to note that the private keys to these wallets mentioned above are controlled by the platform, and not the user. To keep your Zugacoin safe, it is advisable to move them to a secure wallet that you control the private keys to. This is because exchanges and platforms are prone to hacking and security breaches that could lead to loss of funds. By moving your Zugacoin to a secure wallet that you control, you eliminate the risk of losing your funds due to security breaches on the platforms. You can also exchange your profits for stable coins like USDT, USDC, or BUSD, and if you need to exchange them for fiat whenever, you can easily make use of DartAfrica for that.
- Don’t Invest More Than You Can Afford to Lose: As with any investment, it is important to only invest what you can afford to lose. Do not invest your life savings into Zugacoin or any other cryptocurrency.
- Stay Up-to-Date with News and Updates: Keep up-to-date with the latest news and updates on Zugacoin and the crypto market to make informed trading decisions.
Speaking of DartAfrica in item 2 above, it is is a relatively new crypto exchange platform that aims to provide an easy and accessible way for users in Ghana and Nigeria to buy, sell, and withdraw cryptocurrencies. By offering support for popular cryptocurrencies such as USDT, USDC, ETH, and BTC, DartAfrica is likely looking to cater to a wide range of users with varying preferences. One (of many) potential benefits of using DartAfrica is that it offers zero transaction fees compared to other exchange platforms or traditional financial institutions. Additionally, the platform offers fast and secure transactions, as well as a user-friendly interface that is easy to navigate. To efficiently use DartAfrica:
- Head over to their website to register in very few quick and easy steps.
- Next, log in to your account and click “Security” to create a transaction pin for authorizing withdrawals.
- Click on “Account Details” to set up your local bank account.
- Click on “Sell Coins”, and select the coin you wish to deposit. Enter the USD amount (min $20).
- Click “Sell Now” and a barcode (and wallet address) is provided for you to deposit the equivalent amount you wish to sell. Once the deposit is complete, you can monitor your transaction in the “Trades” section and after 2 block confirmations, the equivalent fiat is deposited in your account. This can be viewed on your “Dashboard”.
- Click “Withdraw funds” and enter the amount you wish to withdraw to the already set up account in step 3. Your local bank is credited instantly with no hidden charges.
In terms of trading volume, Zugacoin is primarily traded on African-based exchanges, such as Bitfxt and Quidax. However, it has also been listed on international exchanges such as Bithumb Global and Latoken, which increases its exposure to a broader range of traders and investors. By following the steps mentioned above, you can conduct thorough research on Zugacoin and make informed decisions when it comes to buying and trading the coin. Trading Zugacoin is a relatively straightforward process that requires you to choose a reliable exchange, create an account, fund your account, place an order, and withdraw your funds. It is important to do your own research and stay informed to make the most of your Zugacoin trading experience.