How easy is it to use an exchange?

[sweetscent]

Hi everyone! Im new to crypto and was wondering if anyone could advise me on what the process on exchanging tokens(say earned from a bounty or bought you might have in wallet) to another crypto currency is like? I havent done it before, so is it complicated? Any info on this would be appreciated Thanks!   ps: Excuse me if this has already been asked, but i havent seen anyone asking this precisely

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[edundayo]

Hi everyone! Im new to crypto and was wondering if anyone could advise me on what the process on exchanging tokens(say earned from a bounty or bought you might have in wallet) to another crypto currency is like? I havent done it before, so is it complicated? Any info on this would be appreciated Thanks!   ps: Excuse me if this has already been asked, but i havent seen anyone asking this precisely

If I understand you correctly, you are referring from the stage at which the token is already in your wallet, in that case that's very easy.

1. Since the coin is already in your wallet and has been listed on an exchange.
2. You simply transfer the token to your wallet on the exchange
3. If the exchange have a support direct exchange to your desire crypto coin, you just do the exchange directly
4. If the exchange doesn't; then you exchange your current token to Bitcoin and exchange Bitcoin to your desired crypto coin.
5. For example explore https://changelly.com to see how easy it can be.
6. For ERC20 token you can browse through https://idex.market, where you can exchange to Ethereum, then exchange the ETH to your desired crypto coin

All the best.

[jd2281]

It depends upon what exchange you are going to use. There are 2 types of exchanges. One is the centralized one, the other is decentralized. I, myself, is also new in trading. I traded once in coinexchange and its super easy and convenient there. Coinexchange is one of the centralized exchange that are highly recommended for those who do not have any experience in trading.

For more information, kindly visit this thread. https://bitcointalk.org/index.php?topic=2906237

[mk4]

The best way to know if it's difficult/complicated is to try it out yourself. You pretty much have nothing to lose anyway. If there are some things that you can't understand on a certain exchange, you can easily consult Google for that, and you most likely can find the answer in the span of a few minutes.

[MintDiceSupport]

Look into shapeshift https://www.shapeshift.io/#/coins. Their UI is beginner-friendly and you can swap up to 50 different altcoins. Otherwise, as mentioned above, Changelly is another "Instant Exchange" platform that is popular.

[WindWu]

you can try exchanging a small sum first to get the hang of things.

[pooya87]

dumping some token on an exchange is not like using an exchange to trade. the first one is the easy part you just sign up on some centralized exchange that has your tokens listed for trading or go to a decentralized exchange and see how selling works for them (sometimes there is an interface sometimes there is a chatbot sometimes a website even) and sell it. so first go to coinmarketcap.com and search the name of the token or the website of that token or its announcement and figure out where you can sell them. then it should be easy from there.

the second one  which is trading is hard because you need to know how to do it, when to buy and when to sell.

Look into shapeshift https://www.shapeshift.io/#/coins. Their UI is beginner-friendly and you can swap up to 50 different altcoins. Otherwise, as mentioned above, Changelly is another "Instant Exchange" platform that is popular.

ShapeShift is a good service but it does not have any tokens

[Gammon714]

I think it depends on the exchange.   My favorite exchange is Binance...but this is because they list the tokens or coins in bitcoin and in U.S.Dollars.   This makes it easier for me to figure out the actual price of something because I do not think in Bitcoin yet and have to use a calculator for each transaction.   So, Binance is the easiest but it only trades in bitcoin, ethereum, binance coin and tether.   But for buying and selling once you have bitcoin in the wallet...it is by far the easiest for a newbie.  Yobit is one place you Can trade with a few different types of tokens or coins.  

So as the previous, writer said, find the exchange that lists your token and open an account.  then use the receive token on the exchange account get the address and then plug that into your wallet's send bar...and the amount...and push send.   to be honest, I have only done this with Ethereum classic on Yobit...but it worked.     One other thing...Crypto can be confusing to those such as me...who are from the dinosaur dark ages...my experience is, find an action that needs to be performed...such as getting a myetherwallet,(easy to do now.)  and walk through the steps,  if you get to a point where you are frustrated, walk away and try again another day...send a small amount from one wallet to another just incase you are unsure of the process, this way if you make a mistake then you won't have lost a lot of money.  

Good luck and remember,  CRYPTO IS FLIPPIN' AWESOME!!!!!!!  

[Dudeperfect]

It's not complicated at all to use exchanges but you will get different user experience on each site due to their layout and overall developed website. However, if you can use Facebook then you can use any exchange site, there is nothing to worry about constantly flashing price updates and scrolling chat box comments. However, it will take little time to understand how it works but you will learn it without any issues.

[neo444]

You can sell tokens by https://etherdelta.com/ and convert them to ethereum then you can exchange the ethereum to any others cryptocurrency and choose any exchange by that site bestchange.com

[cryptowisser]

Using the exchange isn't that difficult in our opinion, it's picking the right exchange that might be challenging. Luckily, we have developed a tool for that purpose that we call the Exchange Finder, available here: https://www.cryptowisser.com/exchanges/

Give it a try!

[KullAxel]

Try and you will learn! but make sure you try with small amounts first because you dont want to do something wrong and end up loosing big amounts of money so make sure you start with small amounts first.

[boyptc]

Hi everyone! Im new to crypto and was wondering if anyone could advise me on what the process on exchanging tokens(say earned from a bounty or bought you might have in wallet) to another crypto currency is like? I havent done it before, so is it complicated? Any info on this would be appreciated Thanks!   ps: Excuse me if this has already been asked, but i havent seen anyone asking this precisely

Try it for yourself so that you can experience.

Don't worry that much as it's not that really hard for someone that wants to trade. Look for an exchange where your bounty tokens are listed because not all of them have the same altcoin listings.

[RougeonMining]

It's very easy to use Cryptocurrency Exchanges ! You can find some tutorials about few exchanges here : http://www.crypto-side.com/2018/01/list-of-tutorials.html
And a list of exchanges as well : http://www.crypto-side.com/2018/01/the-10-best-exchanges-to-buy-bitcoin-or.html

[Kalikanan]

There are a lot of youtube videos that give step by step tutorial on how to conduct simple trades on exchanges and that's how I learned how to use them.

Decentralized exchanges for me are harder to use compared to popular exchanges like HitBtc, Kucoin etc.

Always check Eth Gas station before doing a transaction so you won't waste eth.

One more thing is don't sell immediately in decentralized exchanges like Etherdelta Forkdelta etc. because most of the time, the prices there are so low. Wait for trading in official exchanges to see the real value of the token.

[drumamat]

I wanna advise you to choose well-known cryptoexchanges, which charge a low commission for the transaction: Huobi/Kucoin/Binance and others, depend which coin you want to sell or buy.

[vertigomom]

Depending on the exchange

Usually with well-known exchanges only the verification process is time consuming, using them is relatively simple