Bits Blockchain is an exchange where cryptocurrencies and Fiat money 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 Bits Blockchain.
To start, open the Bits Blockchain site. Once the website is opened, click on “Register” to create an account.
Access your email and click on “Complete Your Registration” button.
Set up your password.
To secure your transactions on Bits Blockchain, you must verify your identity and get your account completely verified as well. After logging in, go to “Portfolio” and click on “Verify”.
Select your Account Type. I selected “Personal” in this example.
Fill out the form accurately and completely. Click on “Next” to set up 2FA.
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 Bits Blockchain, click on “Add New” under Two-Factor Security.
Scan the barcode and enter the generated number. Click on “Confirm” to complete the action.
It’s time to add money to your newly created and verified Bits Blockchain account. You can deposit currencies like Litecoin or Fiat money.
For Litecoin deposit, go to on “Funds” and click on “Deposit.”
Click on “Deposit Assets.”
Go to “Activities” to check the actions you’ve made.
For Fiat deposit, select on “Fiat Currencies”.
You can now start trading using the funds that you have deposited on your Bits Blockchain account.
Go to “Trade” and select your preferred currency. Click on”Buy” to continue.
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