USING THE POLONIEX EXCHANGE

The following is a simple guide to buy PotCoins on POLONIEX.COM

In order to buy PotCoins on Poloniex.com you must first have some bitcoin. If you already have bitcoin please continue. If you do not have any bitcoin please see our guide to Buying Bitcoin

  • Step -1 Sign up and account creation

    Go to POLONIEX and create a new account if you do not have one.

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    The process is simple and can be completed in less than 1 minute.

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  • Step -2 Depositing Bitcoin

    Deposit some bitcoin into your Poloniex account.

    Click the ‘BALANCES’ tab in the top menu, then click ‘DEPOSITS & WITHDRAWALS’ from the drop down menu

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    This will bring you to your balances page.  Look for BTC or bitcoin and click “DEPOSIT”

    You will be shows a bitcoin address with the option of seeing a QR code.

    This is your deposit address to send bitcoin into your Poloniex Account

  • Step 3 - Buying PotCoins

    To buy PotCoins first click the ‘EXCHANGE’ tab in the top left menu
    screen-shot-2016-12-12-at-3-50-25-pmLook for POT in the markets window on the right hand side
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    Or you can simply type POT in the filter search
    Finally Click POT to bring you to the PotCoin Market
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    You should now be on the Potcoin Exchange Page
    To BUY potcoins you will need to look at the BUY POT window
    screen-shot-2016-12-12-at-3-57-32-pmYou can now enter the amount of PotCoins you wish to buy and the price you are willing to pay.

    In the PIC below the user is looking to buy 8064.5 PotCoin for a price of 0.00004200 BTC each
    The total cost of his purchase is illustrated in the total box which is 0.3387 BTC
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    It is important to note the market price before placing an order if you would like to get the best possible price.

    On the left hand side is the list of SELLERS and on the right hand side is a list of BUYERS.

    Since we are a buyer we will be looking at the sellers to see who is offering the best price.  In the image below the best possible price to buy PotCoins is 0.00001062 BTC – 1062 satoshi.  In the case of our previous order where the user bought potcoins at 4200 satoshi, not to worry the exchange will always give you the best possible price at the time of purchase.  So even though the “buy order” was placed at 4200 satoshi the user would get their PotCoins at a rate of 1062-1065 satoshi.

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    This concludes the basic guide to buying PotCoins on Poloniex.

    Please consult other documentation on how to withdraw you PotCoins to your QT wallet, on STAKING YOUR COINS and more advanced trading options.