How to buy Bitcoin on Cryptology
We strive to make Cryptology app an easy to use mobile exchange. However we understand that you may have questions during your journey, hence we’ve prepared a guide on how to start trading on Cryptology.
Here is a guide for our iOS and Android app for you. Let’s get started.
Step 1. You’ve installed an application, congratulations! Now you need to choose how you would like to register. We offer you three different methods: sign in with Google, Facebook or by an e-mail which is not linked to any of your accounts. After you’ve chosen a login method, don’t forget to check your e-mail to verify the registration.
Step 2. You’re in the app now. We’ve tried to make an interface minimalistic so that everyone could use it. In the bottom you’ll find 3 tabs: Exchange, Portfolio and Settings. You’ll use Exchange for trading, Portfolio for managing your assets and Settings for verification, contacting support and setting your security password. Let’s move forward.
Step 3. In order to buy cryptocurrency you need to deposit EUR or USD first. To do so, please proceed with the verification. Click Settings -> Verification Status. Here is a short questionnaire to fill in.
First of all, please check if your email has been verified. If not, you can click Resend and confirm it with the link from the email.
Then you need to click Personal data. We don’t require verification for crypto-crypto operations, however if you’d like to use fiat, please carefully submit your document name, date of birth, address and document number.
That’s it! Now you’ve passed the basic level and increased your limits for fiat trading up to 3 000 USD total turnover. It means that you can deposit or withdraw fiat currency limited to 3 000 USD.
Once you reach the limit, you’ll be asked to proceed with Advanced verification. In order not to be interrupted while trading we highly recommend you to do that in advance. Just upload your Photo ID and Selfie in Advanced level field and after being approved you’ll get the limit of 10 000 USD. As for the terms, it usually takes less than 1 business day to complete the verification however it might take longer in some cases.
In case you need the highest level, please upload your proof of residence to the Full verification field. As your proof of residence we support recent bank statements or utility bills not older than 3 months. Your name and address should be clearly visible there.
Step 4. Depositing. Now you’re ready to deposit. You need to go to Portfolio and choose a currency you want to add.
For example, choose EUR from the list above and click Deposit. Then enter an amount you want to deposit and enter card details on the next screen. After you’ve submitted the details you’ll proceed to 3D secure verification from your bank. Once it’s done the amount will be credited to your account.
5. Trading. Now you have EUR on your balance and, let’s say, want to buy Bitcoin.
Then move to Exchange tab.
Above you can find the list of currencies to be traded. As you wish to sell EUR, click on EUR and then choose the cryptocurrency from the list, in this case it’s BTC. So you will trade the BTC/EUR pair.
On this screen you can see the real-time price chart with the current price and its change above. You can adjust the timing by clicking on the upper-right “1D” button to see an enlarged picture.
Below the chart there are BUY and SELL options for you to choose the direction of your trade.
In our case let’s proceed with BUY to exchange EUR for BTC.
Now you need to place an order and we offer two order types for you: market and limit.
If you want to buy at the current market price immediately, you need to place a market order. In this case you should enter an amount of currency you want to buy OR spend on exchange operation. For example, if you want to spend all the deposited euros, enter this amount in the “Spend EUR” field. On the opposite, if you want to purchase the specific amount of Bitcoin, enter it to the left field “Get BTC” and we will calculate how much EUR you need to spend to do it.
However if you want to buy BTC at the specific (lower) rate, there is an option for you to place a limit order. Click “wait for a certain price” and enter a rate you want to buy at.
Congratulations! You’ve just made your first trade on Cryptology.
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