mirror of
https://github.com/LBRYFoundation/lbry.com.git
synced 2025-08-23 17:47:26 +00:00
Create how-to-purchase-lbc-from-bittrex.md (#1235)
Co-authored-by: Thomas Zarebczan <tzarebczan@users.noreply.github.com>
This commit is contained in:
Clement
GitHub
parent
429506ac77
commit
9baf149051
1 changed files with 113 additions and 0 deletions
113
content/faq/buy-sell-bittrex.md
Normal file
113
content/faq/buy-sell-bittrex.md
Normal file
|
|
@ -0,0 +1,113 @@
|
|||
---
|
||||
title: How to buy and sell LBC on an exchange
|
||||
category: getstarted
|
||||
---
|
||||
This guide is meant for informational purposes only and is not financial advice.
|
||||
|
||||
Currently, in order to exchange LBC for traditional currencies (and vice versa), you'll need to use [cryptocurrency exchanges](/faq/exchanges). LBRY is actively working on ways to make this easier right inside our applications, but we don't have an ETA on when this would be available.
|
||||
|
||||
Some exchanges have a US Dollar (USD/USDT) market, where-as others only trade LBC against Bitcoin (BTC). This means you'd need to go through BTC first before being able to obtain traditional currencies like USD. These steps below are an example of how to buy and sell LBC on Bittrex, but the mechanism of using order books will be similar on other exchanges.
|
||||
|
||||
If you are acquiring LBC, you'll need to have BTC deposited into your account, link a bank account to deposit USD, or use a credit card (not available in all locations). If you are selling LBC, you'll need to [deposit the LBC to your Bittrex account first](#Withdrawing-LBC-to-Bittrex).
|
||||
|
||||
## Login or create a Bittrex account
|
||||
1. Login / create a [Bittrex account](https://bittrex.com) (you may need to complete KYC)
|
||||
|
||||
## Depositing funds
|
||||
### Depositing USD {#Depositing-USD}
|
||||
**Please note: This is only available to some customers depending on location**
|
||||
1. [Follow this process to enable USD](https://bittrex.zendesk.com/hc/en-us/articles/360021914672-How-do-I-deposit-USD-into-Bittrex-)
|
||||
1. Click on `Holdings` from the upper right corner.
|
||||
|
||||
1. Once the holdings page loads up, click on **Deposit by bank/wire**
|
||||
1. Click on Wire Transfer and clik Get Started.
|
||||
|
||||
1. Finish the process and deposit USD into your account.
|
||||
|
||||
### Purchasing with a debit card from Bittrex
|
||||
**Please note: This is only available to some customers depending on location**
|
||||
1. Click on `Holdings` from the upper right corner.
|
||||
|
||||
1. Once the holdings page loads up, click on **Deposit by credit/debit card**.
|
||||
|
||||
1. Enter the amount you'd like to purchase in dollars and click on enter card info next.
|
||||
|
||||
1. Enter your card details and any other information and click on pay.
|
||||
1. Once the payment is successful, you should see fiat balance in BTC equivalence
|
||||
|
||||
### Depositing BTC
|
||||
1. Click on `Holdings` from the upper right corner.
|
||||
|
||||
1. Once the holdings page loads up, finnd BTC and click the deposit button.
|
||||
1. Deposit BTC to your account by sending funds to this address.
|
||||
|
||||
## Buying
|
||||
|
||||
### Purchasing BTC with the USD
|
||||
**This step is required if your account has a USD balance since LBC does not trade against USD on Bittrex**
|
||||
1. From the Bittrex home page: under USD market, click on USD-BTC
|
||||
|
||||
1. Click on the market price you'd like to buy BTC (usually the first in the sell order book and indicated as red).
|
||||
|
||||
1. Enter how much BTC you want to purchase in dollars or simply click on the percentage to select the amount you'd like to purchase BTC for example 50% of your total holdings or 100% of your total holding in USD.
|
||||
|
||||
1. Click on place order, and once the order is executed, you'll now see your BTC holdings instead of USD. You can check this right below the place order button or the holdings page from the upper right screen.
|
||||
|
||||
### Purchasing LBC with BTC.
|
||||
1. From the Bittrex home page: scroll down, under the BTC market, search for LBC and once it comes up, click on BTC-LBC.
|
||||
|
||||
1. Click on the market price you'd like to buy LBC (usually the first in the sell order book indicated as red.)
|
||||
|
||||
1. Enter how much LBC you want to purchase or simply click on the percentage to select the amount you'd like to purchase, for example, 50% of your total holdings or 100% of your total holding in BTC.
|
||||
1. Click on place order, and once the order is executed, you'll now see your LBC holdings. You can check this right below the place order button or the holdings page from the upper right screen.
|
||||
|
||||
## Selling
|
||||
|
||||
### Selling LBC for BTC
|
||||
To sell LBC for BTC, you will have to deposit your LBC to the Bittrex LBC wallet. [See depositing LBC to Bittrex](#Withdrawing-LBC-to-Bittrex)
|
||||
1. Go to the Bittrex home page, scroll down, under the BTC market, search for LBC and once it comes up, click on BTC-LBC.
|
||||
|
||||
1. Click on Sell
|
||||
|
||||
1. Click on the market price you'd like to sell LBC (usually the first in the buy order book indicated as green.)
|
||||
|
||||
1. Enter how much LBC you want to sell or simply click on the percentage to select the amount you'd like to see, for example, 50% of your total holdings or 100% of your total holding in LBC.
|
||||
1. Click on place sell order, and once the order is executed, you'll now see your BTC holdings. You can check this right below the place order button or the holdings page from the upper right screen.
|
||||
|
||||
### Selling BTC for USD
|
||||
To sell BTC for USD, you may have to submit a Fiat Trading request to Bittrex [See Depositing USD](#Depositing-USD)
|
||||
1. From the Bittrex home page: under USD market, click on USD-BTC.
|
||||
|
||||
1. Click on the market price you'd like to sell BTC (usually the first in the buy order book and indicated as green.)
|
||||
|
||||
1. Enter how much BTC you want to sell or simply click on the percentage to select the amount you'd like to sell BTC, for example 50% of your total holdings or 100% of your total holding.
|
||||
|
||||
1. Click on place sell order, and once the order is executed, you'll now see your USD holdings instead of BTC. You can check this right below the place order button or the holdings page from the upper right screen.
|
||||
|
||||
## Managing and withdrawing funds
|
||||
|
||||
### Checking Holdings and withdrawing LBC to your LBRY account.
|
||||
1. Click on the holdings on the upper right corner of the Bittrex page.
|
||||
|
||||
1. Toggle the **Show Zero Balances** option to show only wallets with balance or you can use the **find** option to search for LBC.
|
||||
|
||||
1. Click on withdraw.
|
||||
|
||||
1. Go to your LBRY app/ LBRY tv page, click on the balance on the top right and click on `your address` to bring up your LBRY address.
|
||||
|
||||
1. Copy the address you get from your LBRY account to the address field on the Bittrex withdrawal page.
|
||||
1. Click on **available balance** or enter the total amount of LBC you want to withdraw and click on withdraw.
|
||||
1. Type in your 2FA if any and you are done, you should see your balance withdrawn from Bittrex to your LBRY account in minutes.
|
||||
|
||||
### Withdrawing LBC to Bittrex {#Withdrawing-LBC-to-Bittrex}
|
||||
1. Click on the holdings on the upper right corner of the Bittrex page.
|
||||
1. Search for LBC using the **find** option on the Bittrex holdings page.
|
||||
1. Click on the option for deposit.
|
||||
1. Copy your LBC wallet address.
|
||||
1. Open the wallet page on your LBRY app/ LBRY tv by clicking on the balance option/wallet page.
|
||||
1. Click the option for send credits.
|
||||
|
||||
1. Paste the address you copied from Bittrex and enter the amount you want to transfer and click send.
|
||||
1. To check the status of your withdrawal, go to the holdings page on Bittrex and click on deposits. This will show pending deposit status.
|
||||
|
||||
* Please note that it may take up to 10 minutes for the status to reflect under the deposit status. Bittrex requires 30 confirmations which can take anywhere between 60-90 minutes.
|
||||
Loading…
Add table
Reference in a new issue