BCEX is an exchange where different cryptocurrencies are both offered. This platform provides clear instructions in processing transactions from setting up an account to buying your first Litecoin.
The steps below will help you start trading Litecoin on BCEX.
To start, open the BCEX site. Once the website is opened, click on “Sign up” to create an account.
Click on “email registration” and fill out the form. Confirm your agreement with its Terms and Conditions and click on “Next Step.”
Enter your desired password and click on “Next Step.”
Verify your real name by filling out the form accurately and click on “Submit.”
The page will prompt that you have successfully registered your account.
To secure your transactions on BCEX, you must verify your identity and get your account completely verified as well. After logging in, go to “Account Center” and click on “Real-Name Verification” and proceed with Certification Authentication by clicking on “Get verified.”
Real-Name Verification has two stages. The Primary Certification is mainly your personal information and the Certificate Authentication requires you to present an ID.
Follow the instructions on what ID you need to upload and how to exactly upload them.
Continue filling out the form. At the bottom, confirm that the documents you are about to submit are valid and click on “Submit.”
What is 2FA?
Two-factor authentication, also known as 2FA, is an extra layer of security or added protection which we refer to as multi-factor authentication. Not only the username and password are required but also a piece of information that only a user possesses. This process is to confirm a user’s claimed identity.
The 2FA process helps lessen the number of identity theft cases and as well as phishing via email. It would be harder for potential intruders to gain access and steal someone’s identity and personal data without that piece of information that only the account owner knows.
In the case of exchanges, what the user has are his/her login details such as the username and password. The form of 2FA that a user possesses for this instance is a token or code. The code can be received either through SMS on a user’s mobile phone or via applications like Google Authenticator or Authy.
To activate 2FA on BCEX, scroll down to “Account Center” and select on “Set Google Authenticator.”
Scan the barcode, enter the generated code, and click on “Verify and enable.”
The page will then prompt that you have enabled Google authenticator.
It’s time to add money to your newly created and verified BCEX account. You can deposit currencies like Litecoin.
For Litecoin deposit, click on “Account” and type in your desired Litecoin. You can also manually scan the currency list, then click on “Deposit.”
You will be given a wallet address. This is the address that you need to use in processing your Litecoin deposit. You have the option to scan the QR code to generate a new one. Make sure that the correct address is used in processing your transaction to avoid losing your funds.
Go to “Deposit record” to view your transactions.
You can now start trading using the funds that you have deposited on your BCEX account.
Go to “Exchange.”
You’ll be able to view different currencies and markets. Scroll down to the “Buy” section.
After selecting your Litecoin, type in your desired amount. Whenever you’re ready, click on “Buy.”
At the bottom left corner, you have the option to view your latest and all transactions made. At the upper-right hand are your open and previous orders made.
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