BTC-Alpha: how to use
This trading platform was registered in 2016 in the UK and is managed by Russian entrepreneur Vitaly Bondar.
BTC-Alpha offers more than 90 cryptocurrencies for trading and is included in the TOP 100 exchanges in terms of trading volume per day.
Since BTC-Alpha supports the Russian language and has a simple interface, it is chosen by many Russian-speaking users.
The main feature of the exchange is the ability to enter fiat – the state currency (so far only USD – the dollar).
Home page overview
Consider the main page of the exchange and determine its capabilities:
Exchange – bidding page (it is also the main page of the site)
Commissions – information about commissions
Commissions for depositing funds (deposit) are only for fiat, cryptocurrency on BTC-Alpha can be entered free of charge.
The standard trading commission is 0.2%, but if you trade in large amounts every 30 days, the commission is reduced.
The commission for withdrawing funds is small (especially for fiat) – they are individual for each currency.
You can view detailed information about commissions in the corresponding section of the exchange.
News – current market news
Support – links to social networks of the exchange, as well as a form for sending a message / question to user support
Listing – the ability to add your token / cryptocurrency to the exchange.
On the left side are links to social networks, and on the right – the main sections of the exchange are duplicated.
We fill in the opened form:
Enter Email – We recommend using mail from Google, as it is considered the most protected from hacking
We come up with a password – it must be complex, that is, contain lowercase and uppercase letters, numbers, signs and be longer than 8 characters (best about 20)
We tick off that you are familiar with and agree to the rules for using the exchange
After that, you will be transferred to the login page for the exchange – enter your login (Email) and password and go to your account.
As soon as you go to the exchange, you are warned that the email is not verified – we advise you to fix it.
We go to the specified mailbox and look for the letter from BTC-Alpha – we follow the link specified in the letter.
The system sent us to the account settings section. Here you can choose a login if you want to chat with other users.
Profile Security Setting
We strongly recommend that you configure your account security before entering funds on the exchange.
The fact is that the BTC-Alpha exchange was hacked several times and the only protection against hackers could be a complex password and two-factor authentication from Google.
Verification (verification of identity) on the exchange is not needed.
After you have created a profile on the exchange, you must enter funds on it to start trading.
In order to enter a deposit on BTC-Alpha, you need to go to the ‘Finance’ section in your profile.
To enter cryptocurrency, click on “Deposit” of the selected currency – the following form opens.
Here we copy the wallet address generated by the system (you can also read the QR code) – you need to paste it into the “Recipient address” column where you want to transfer funds to the exchange.
As soon as you send funds to this wallet, it remains to wait for their transfer and you can trade.
As for the entry on the fiat exchange, at the moment only the entry of the US dollar is available. Opposite him, also click on ‘Deposit’.
Next, select a convenient payment system and follow the instructions:
- Perfect money
- Adv cash
Please note that there is no commission for entering cryptocurrency on BTC-Alpha, and commission for US dollars is dependent on the payment system.
To withdraw funds from the exchange in the same section, opposite the selected currency, click on ‘Withdraw funds’.
Next, select a convenient payment system, where possible, and follow the instructions.
Possible withdrawal options:
- Alpha code (fiat, crypt)
- Cryptocurrency Standard Output
- Payment system: Perfect Money, Adv Cash, NixMoney (fiat).
Specify the number of coins to withdraw
Specify the wallet address to which the coins will be transferred
Click ‘Funds for withdrawal’
Done! It remains to wait for the withdrawal of funds to the specified wallet.
The BTC-Alpha cryptocurrency exchange is good in that you can trade US dollars on it, and it also supports the Russian language.
The rest of the indicators are pretty standard and BTC-Alpha is no different.
A few hacks ensured the exchange’s not very good reputation, but this can be avoided by immediately setting up account security (a complex password and 2fa).
You can also ensure the safety of your funds if you store them in a cold wallet, and not on the exchange.
Please note that BTC-Alpha, like many other trading platforms, often closes wallets of various cryptocurrencies and service tokens. In this case, you will not be able to do anything with your assets stored in a closed wallet until it is opened.
How to deal with this? Very simple: it is enough to store coins in cold wallets and have registration on several exchanges at once.
With cold wallets, everything is clear, but why register on different exchanges if you trade on one? The fact is that if a Bitcoin wallet for servicing is closed on your favorite exchange, and you need to urgently make a transaction with it, then you can do it on another exchange where the BTC wallet is open.
For example, on the BTC-Alpha exchange. To do this, register on it right now: https://btc-alpha.com, because exchanges like to temporarily close the registration of new users.