To begin trading, you must first have an approved account at Coinfield. If you didn't create one yet, please click here CoinField Sign UP - Create a new account. Once your e-mail and cell phone number is confirmed and verified, you'll need to complete your profile and also verify your identity by uploading the required documents. If you don't know which are the required documents, please check this link What are the required documents for KYC account verification?
For the profile verification, we've partnered up with third-party companies to make the profile verification process instant and easier for most of our users. In some cases, if we cannot confirm the identity of the user through this method, one of our KYC agents will take over the file and process it manually. As soon as the verification of your account reaches to at minimum level 5, you can start funding and trade¹.
We currently offer 5 Fiat funding² options: E-transfer, EFT (Electronic Funds Transfer), SEPA (Single Euro Payments Area) and Wire Transfer. To know how to fund your account, access the following link How can I fund Fiat currency into my account?
You additionally have the option of funding your wallets with current Cryptos you hold somewhere else. Check here for How to deposit Cryptocurrency into my CoinField account?. We have also different topics explaining how to buy and sell for each crypto we have at the Platform, as well the available Fiat >< Cryptocurrency trading pairs.
After funding your wallet, you can choose between 2 trade options on your Dashboard, Quick Trade and Advanced Trade:
- Advanced trading is usually for clients that would like to buy and sell crypto with a Price Limit instead market³ price, which means that your order will only process and fill in the system whenever there’s another counter proposal from yours to pair. The buy and sell are also known as Bid (when buying) and Ask (when selling). In advanced trading, if you place an order with a price and amount far from the other orders displayed at the moment, it can take longer for your order to be accepted. In this case, you can cancel your order and place another more “realistic” to the current market.
- Inside Advanced Trading, there’s also an option for the Market Order option. Market orders are those in which you don’t need to set up a price limit for your order. You must only inform the crypto and amount you’d like to buy or sell, and then “submit” the request. By using the Market option, you allow the system to buy or sell your order by the best price available on the market.
- Quick trade is the same as the Market order option located inside the Advance trading. It’s also a shortcut and a more accessible tool to buy and sell located in your dashboard. You can use Quick Trade as a faster way instead of going to Advanced trading and choosing the Market option.
Please check here for more information about What are the differences between Quick Trade and Advanced Trading option?
Here is a step by step in how to trade using each option and market type:
- How to trade using Advanced Trade Order Limit Option?
- How to trade using Advanced Trade Market Price Option?
- How to trade using Quick Trade Market Price Option?
¹ In order to withdraw your account must be approved to level 5 (restrictions apply) or level 6 (no restrictions).
² Any third party extra fees charged is not under CoinField responsibility, as we have no control over different Banks and Financial Institutions
³ Be aware that Market orders using either Advanced Trading or Quick Trade don't have cancel option as they follow the best market price available.