Academy User Guide

FAQ about buying or selling bitcoin-for newbies

April 14, 2021

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FAQ about buying or selling bitcoin-for newbies

1.What kinds of trading can you do on CoinCola?

CoinCola is the cryptocurrency platform where mainly offers 4 kinds of trading businesses.

First, OTC trading refers to buy or sell coins from vendors who post-offer on the platform. You can buy bitcoin with fiat currency(such as NGN, HKD). At the same time, you also can sell bitcoin to exchange fiat currency.

Second, gift card trading is a place where you sell gift cards and receive bitcoin. Here you can sell amazon cards, google play cards, steam cards, and so on. After selling a gift card, you can sell bitcoin on the OTC market.

Third, exchange trading is a digital platform where you can exchange one coin with another, for instance, exchange bitcoin with USDT. It is much like stock trading.

The last, margin trading means that users can borrow through the platform, which will obtain more funds for trading in order to make a larger investment.

2. How to buy bitcoin with fiat currency?

Following 3 steps:

  • Choose trading areas. If you are Nigerian, you need to choose ‘Nigeria’. Lots of trading offers will be shown to you.
  • Choose a vendor to trade with.
  • Transfer cash to the vendor via bank account.

View video for the details of trading:

video-how to sell bitcoin 

3. How much is the OTC trading fee?

OTC trading fee is only for vendors who post an offer to do business. Buying or selling cryptocurrencies from an existing offer is free.

4. How to choose an offer to buy or sell bitcoin?

There are many offers on CoinCola. You could pay attention to their prices, trades, rating and limits, payments, etc. Meanwhile, you can notice his verification and trust evaluation. Compare those offers and choose the best one.

5. What is the minimum amount of bitcoin you can buy?

It depends on how much do you want to buy. From the offer, vendors will describe trading limits, which is the trade amount ranges. Choose the apposite offer and buy as much as you would like.

6. How to pay for an order?

If you want to buy bitcoin, the vendor will send a bank account code for you, after placing the order. On the contrary, you need to send a bank account code to the vendor when you want to sell bitcoin. Payment will be transferred through a bank account. You can get that information from the order chatting.

7. Is it safe to make payment?

No, it is safe. After transferring, remember to click the button “I had Paid”. Coins will be held on CoinCola platform temporarily.

8. How to receive the bitcoin ?

After bitcoin is released, it will be added to your CoinCola OTC wallet.sign up coicola