How do you register and trade on Indodax? It’s easy! Come on!
Steps to register and trade on Indodax
To create your account, the first thing you have to do is open indodax.com on your cellphone/laptop. Then ‘click’ list, after this just enter the required data. Here there is the main cellphone number and there is your alternative, the alternative number is the number that Indodax will call if the main cellphone number cannot be reached. Username is the name of the user you want to register. Then fill in the password. Then don’t forget to read the terms and conditions and trade risks, after reading click agree and register.
You must verify your account via the registered email and mobile number. After clicking register, you will get a verification via email and phone number. Now, verification of this cellphone number is sometimes also needed to enter your Indodax account. So don’t forget it!
There is one last step of account verification again for financial transactions. This is very important for you to verify first so you can top up your balance. Remember, this must match your identity and this is needed to maximize protection! Everything needed will be explained on this page clearly. After you submit the verification form. Indodax will verify your account no later than 24 hours after we receive the application.
After verification, you can login to Indodax with the username and password that you registered earlier. Then, you can see the various digital assets available on Indodax along with their latest prices. In indodax, there are about 45 digital assets that you can trade! If you see here there is also a google authenticator to add account protection. The next step is to fill in the balance to your account.
The way to top up your balance is to click Balance at the top, then click Depo or WD.
Just enter the amount of money you want to fill, the source of the funds, the transfer method and your account number. If you want to withdraw your balance, just go to the rupiah withdrawal page. There, just enter the amount you want to withdraw, you will get an SMS pin when making a withdrawal. All transactions that you have made will be recorded on the history page for you to see. After going through all the processes above, you can start buying and selling digital assets that you want.
Now to buy here, there are 3 types of orders that you can use
This is a feature to buy or sell digital assets at a certain price and amount. To buy bitcoin, you just enter the amount of rupiah you want to use to buy bitcoin and at what price. Once entered, the order will be processed and will appear in the order book below here. In the orderbook, there will be a price queue list for buying/selling the digital asset.
For this situation, you can play the role of a market maker or market taker. A market maker is if you make the price to buy/sell a digital asset whose price has not been registered in the order book. when placing a sell order, the price made will be more expensive than the latest transaction price in the order book. Meanwhile, market takers are those of you who buy or sell digital assets at prices that are already in the order book.
Market or instant order
If you look here there is an option where you can sell or buy bitcoins directly. As the name suggests market/instant, this is specifically for traders who want to be fast. If you want to buy it, just fill in the amount of rupiah you want to use to buy bitcoin. Then this amount of rupiah will be automatically exchanged for bitcoin after clicking estimate. Likewise, if you want to sell bitcoin, just enter how many bitcoins you want to sell. Immediately, there will be an automatic amount of rupiah that we will receive. But for this method you will be charged 0.3% because you act as a market taker.
Especially for Stop orders, this feature is where you can make transactions without having to worry about price fluctuations on the digital asset you choose. But this feature can only be used for some digital assets. This feature can be used for digital asset transactions when the last price reaches the stop price. This stop price is the price that you have set from the start. I’ll give you an example so you can understand better! For example, if you want to buy bitcoin, just enter the amount of rupiah you want to buy bitcoin and also the stop price or the price at which you want to buy bitcoin. If the price has reached the stop price that has been installed. Then there will be a transaction to buy the bitcoin. Likewise if you want to sell bitcoin!
After the order has been successful, your bitcoin balance will automatically appear in your account balance. In the wallet menu with an asset named “bitcoin”. Now, it’s enough to learn how to register and trade on Indodax.