How to Buy Bitfex (BFX) in Azerbaijan

A Step-by-Step-Guide on how to buy Bitfex (BFX) in Azerbaijan

Step 1 – Signup to Coinbase – Get Free $10

In the beginning you'll need to buy units of the major coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and getting your welcome 10 Dollar.

Binance Signup
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Bitfex (BFX) is accessible on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this guide)

Make sure you've chosen the correct coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our guide).

Step 3 – Locate {Bitfex (BFX)|(BFX) Bitfex}

As soon as your deposit has been approved, you will instantly have access to your funds and you can launch invest and trading. To invest in {Bitfex (BFX)|(BFX) Bitfex} on Binance, you will want to hover over the tab which is called “Exchange” and mouse click on “Basic”.

To discover {Bitfex (BFX)|(BFX) Bitfex}, you will need to insert the short name of the asset (BFX) into the search box, which is highlighted in the graphic. Make sure you have selected the correct grouping, we've highlighted this too. Click on “BFX/BTC” to go ahead.

{How to buy Coin on Binance 1|Binance How To Buy 1} Bitfex (BFX)
Step 4 – Purchasing {Bitfex (BFX)|(BFX) Bitfex}

As soon as you've spotted {Bitfex (BFX)|(BFX) Bitfex}, you will be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). For now we are going to create our Limit Order.

The field with the “Price” tag will be filled with the recent valuation {Bitfex (BFX)|(BFX) Bitfex} was sold for. You can change this to your preferred rate. The ”Amount” field is the amount of BFX you wish to buy. The field with the “Total” tag is the total price in BTC that you'll pay for the whole amount of BFX.

When you're glad, click on “Buy BFX”. Your order will be filled when a Vendor sells their BFX for the price you introduced.

Step 5 – Withdraw {Bitfex (BFX)|(BFX) Bitfex}

Unless you're frequently trading, best advise is not to keep your crypto on an Exchange for an extensive time period. To withdraw your {Bitfex (BFX)|(BFX) Bitfex}, go to the tab called “Funds” and mouse click on “Withdraw”. {Bitfex (BFX)|(BFX) Bitfex} can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find {Bitfex (BFX)|(BFX) Bitfex} by using the given drop-down box. Drop in the quantity of {Bitfex (BFX)|(BFX) Bitfex} you would wish to withdraw. Take into account the presented fees/minimums. Also make sure you have entered your precise withdraw address.

When you're glad, click “Submit”. You could be requested for phone/email verification ahead of a take off.

Congratulations! You've successfully bought and stored Bitfex (BFX) in Azerbaijan.

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on usage of the network). Once you have confirmed your withdrawal using Etherscan.io or Ethplorer.io and the {Bitfex (BFX)|(BFX) Bitfex} is safe in your wallet, you are finished.

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