How to Buy Cryptocurrencies like FCT and XRP from Poloniex

Poloniex is a cryptocurrency exchange platform. You can trade one cryptocurrency with another. For example, if you want to invest in Factom, you will not be able to buy them directly. What you will need to do is to buy Bitcoins from Pocketbits or Zebpay. Transfer the Bitcoins to your Poloneix account. If you do not have any Poloneix account, you can sign up now. To buy any other cryptocurrencies, you will have to trade with your Bitcoins.

How to send Bitcoins from Pocketbits/Zebpay to Poloniex account?

Step 1: Login to your Poloniex account

Step 2: Take your cursor to balances

Step 3: Click on Deposit and Withdrawals

Step 4: click on Deposit and Withdrawl History

Step 5: You would see a lot of cryptocurrencies. Find out Bitcoin and Click on DEPOSIT

Step 6: Copy the wallet address.

Step 7: Go to your Pocketbits/Zebpay account and transfer whatever Bitcoins you have in your account to this wallet address.

Step 8: Wait for some time for the process to get completed. It usually takes 30 minutes to reflect on your Poloniex account.

How to trade Bitcoin with other cryptocurrencies in Poloniex?

Once you have transferred the amount to your Poloniex account, it is time to get some new cryptocurrencies in exchange of your Bitcoins. This is super easy actually.

Choose any coin you would like to invest in. Click on it.

It will show you a graph showing how the progress has been for the cryptocurrency.

Just below it, you will have an option to buy.

Enter the amount in BTC, or that of the cryptocurrency and hit BUY. Tada! Done.

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1 comment

  1. shavneet singh 12 June, 2017 at 04:40 Reply

    Hi Sanjib ,

    Lovely Write up.

    I have 2 questions :
    1. I did use poloneix to buy ET using bitcoins , at the lowest ask price , the order was in open state for 30 mins , so i cancelled it , and then took the other route , using coinbase and changelly , that is some what tedious , would you please tell me why it was in open orders ?.. did it not found that exact price ?

    2. i plan to buy NEM from poloneix, where do i save it ?, any Wallet for NEM , as coinbase has no NEM.

    REgards ,

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