First of all you need to bring coins to the platform, how can you do that? Simple!
After you have made your account of Poloniex you will go to BALANCES / DEPOSITS & WITHDRAWLS area and you will see a long list. In this list you will find coins such as:
- Bitcoin Cash
- and much other
Once you've found your desired currency, click on DEPOSIT. For storage, you will need 2 addresses, namely Deposit Address or Payment ID (for some Payment ID transfers it is optional).
After you have transferred you have to wait for the amount of money to be transferred, it depends on the currency you transfer, some are faster to transfer others not. For example, 700 BCNs can be transferred in 5 hours, while LISK can be transferred within 1 hour.
Once your coins have reached the platform you can start trading. Click on EXCHANGE, choose the currency you want to transfer.
Depending on your strategy, you can trade. For example, we will trade between ETH and BTC, we have a BTC of $ 4500 and we know it will reach 3800$ (we will know because of the news), then we will change our coin at a fairly high price and we will buy ETH (all of the news we will know that ETH is going to grow). So we will sell when it's up and we'll buy when it's down.
Careful! It's not okay to trade daily, because you can lose money on taxes. Your goal is to earn money!
After you've managed to raise profit, it's time to withdraw your earned money. You go to BALANCES / DEPOSITS & WITHDRAWLS choose the desired currency and click on WITHDRAW and transfer it to your external account. Careful! The withdrawal amount will incur a transaction fee.
Great success in your transactions!