New to Crypto

5 Reasons to buy your first Bitcoin and become a trader with BITPoint Panama

  • Easy to obtain: anyone is able to buy or sell crypto assets and here at BITPoint we further facilitate the process to our customers, as unlike other Exchange you can also change from crypto (BTC) to Fiat (USD).
  • You can make trading or store: Who doesn’t like to be given more for their money? In this market that can be your situation. The best traders implement these practices of buying and storing their active crypto waiting for the best time to make trading or withdraw them in FIAT form once their value increases to gain more profits.
  • Low rates and everyone: Do you really know how much they charge you for every small transaction or process you want to make with your bank? In the world of crypto currencies you will find shipping rates worldwide much cheaper than in a traditional bank. Faster, lower-cost transactions and anyone in the world.   
  • No intermediaries: There is no need for a third person for these processes. You own all the moves made to your account.
  • Safety: Mainly the safety of each active crypto is its Blockchain they are designed to be unwavering. However, Bitpoint Panama uses multiple-signature delivery techniques and an anti-piracy system that detects hackers and avoids real-time insurers. We are also creators of our own digital wallet. Easy to use and with high safety standards
  • Advantages of Blockchain: It has a technology with a great potential that allows financial transactions in a safe and reliable way with data impossible to falsify and the information is never lost.

After understanding the above points, you only have to:

1 * have a bank account in the more than 45 ACH-enabled banks in Panama (http://help.bitpointlatam.com/knowledgebase/aceptados-por-bitpoint-panama/)

2 * deposit funds to The BITPoint account either by ACH or in person directly at the ALL Bank Bank This information can be found in your BITPoint Panama account. (http://help.bitpointlatam.com/knowledgebase/como-puedo-hacer-un-deposito/)

3 * bitpoint Panama in turn, your Bitpoint account is credited.

4 * From this moment you can buy your active crypto.

Now that you have your account loaded in BITPoint do you want to buy crypto? Web Trading is a perfect platform for beginners where we have a complete and friendly panel where you can make your transactions without having to move through different screens or applications. All you want to do is possible on a single platform.

  1. Spot trading and leverage: Clicking on these icons will change you from spot trading to Margin trading or leverage trading in a second. You will notice that the values change as they are synchronized with their respective markets.
  2. Market Information: The function of the box is to display market prices in real time.
  3. Receive: In this area you will be able to see your balance and a prediction of unrealized earnings that will let you know how much you will be winning in the transactions that are open in the market.
  4. Book of orders: From this box you will be able to carry out the transactions has 3 tabs and each one is for each type of order that can be carried out in our platform IE Market, Limit and Stop-loss.
  5. Transaction registration: Here you will be able to corroborate the prices of the market so at the moment of placing your order you have better results. The information deployed is found in real time.
  6. Graphic: Bar chart and lines display market prices.

  1. Spot trading and leverage: Clicking on these icons will change you from spot trading to Margin trading or leverage trading in a second. You will notice that the values change as they are synchronized with their respective markets.
  2. Transaction registration: Here you will be able to corroborate the prices of the market so at the moment of placing your order you have better results. The information deployed is found in real time.
  3. Unrealized balances and earnings display: In this area you will be able to see your balance and a prediction of undone earnings that let you know in realtime how much you will be winning in transactions that are open in the market.
  4. Book of orders: From this box you will be able to carry out the transactions has 3 tabs and each one is for each type of order that can be carried out in our platform IE Market, Limit and Stop-loss.
  5. Order of execution: This small window is appreciated the active orders or by processing.
  6. Summary, Orders and operations: These tabs serve to show how the market goes, the status of orders and transactions made in the day.

Buy a BTC in 3 steps with a market order-transactions are executed instantly and at the exact price on the market.

Step 1: Identify the ordering screen and choose the order type.

Step 2: Specify quantity to Sell/buy and enter my transactional PIN before clicking Buy/Sell.

Step 3: Click Run.

* You can select other Criptodivisas in the icon

 

Purchase a BTC in 3 steps with a limit order-when this type of order is placed, the transaction only runs when the market offer is the same as that of a single order. (If there are strong movements, the order may not run even if it goes through the price)

Step 1: Identify the ordering screen and choose the order type.

Step 2: Specify quantity to Sell/buy and enter my transactional PIN before clicking Buy/Sell.

Step 3: Click Run.

* You can select other Criptodivisas in the icon

 

Purchase a BTC in 3 steps with a Stop loss order is a type of transaction that is placed on the market and runs at the close and the best possible price for at the time of placing the order.

Step 1: Identify the ordering screen and choose the order type.

Step 2: Specify quantity to Sell/buy and enter my transactional PIN before clicking Buy/Sell.

Step 3: Click Run.

* You can select other Criptodivisas in the icon 

Glossary

What is mining?

Mining Criptomonedas is not finding, discovering or making new coins. It is a set of processes to validate and process the transactions of a Criptomoneda.  In the case of the Bitcoin, mining consists of validating and recording transactions in the Blockchain. For this, all nodes in the network participate in the successful resolution of the quest for the block, where taking into account a random number and applying a cryptographic function, is as a result a hash that meets a Feature: That has a certain number of zeros left. This work requires effort and computing power, which ensures that it is complex to write new blocks of transactions in the registry and thus prevent an attacker from generating a false block and adding it to the network or modifying an existing block.

How do active crypto work?

They are designed to function as a means of exchange that uses solid cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

How is the market different from the stock market Criptomoneda?

The Criptomonedas operate in a decentralized way and is not controlled by a central entity such as traditional currencies, and where users through use and intervention of Blockchain technology, can send funds to any part of the world, without the Intervention of a bank or government agency.

 What is a Bitcoin?

Bitcoin is one of the many crypto assets available on the market, a form of electronic cash. It is a decentralized digital currency that can be sent from user to user in the Bitcoin network without the need for intermediaries.

What is Ethereum?

Ethereum is a blockchain-based computing platform and an operating system with intelligent contract functionality. It was created in 2015, the transaction is done with and only if the conditions of the smart contract are fulfilled.

What is a Litecoin?

Litecoin is an alternative Criptomoneda based on the Bitcoin model. Litecoin’s intent in the marketplace is to complement the Bitcoin. Suppose Bitcoin represents gold and Litecoin represents silver.

What is Ripple? Ripple is a real-time gross settlement system, created by Ripple Labs INC. Ripple is based on a shared public ledger, mostly managed by banks and corporate companies. It uses a consensus process that allows payments, changes, and remittances in a distributed process.

What is Bitcoin Cash?

It’s a criptomoneda and a pay network. In relation to Bitcoin, it is characterized as a spin-off, a strand, a product of a hard fork, a branch, a clone, a second version or a altcoin.

Are the crypto currencies safe?

One of the most important qualities in the Criptodivisas is the Blockchain. As mentioned above it is supremely difficult to decrypt them so much that it is precisely the security and complexity of this one that gives its value and its demand in the market. Each active crypto has its unique blockchain that characterizes and values the Criptomoneda.

What is an exchange of crypto currencies?

It is an exchange where you can buy and sell crypto currencies.  You can also sell FIAT currency like dollar, weight etc.

What is Blockchain?

In the Blockchain all transactions executed, are registered publicly, so that anyone can see how much of crypto currencies were traded, to and from which direction it was sent, in order to prevent double transactions. The Blockchain does a check to confirm that the transaction that is running has not been executed before. It is a reliable payment system that allows anyone in the world to conduct scrutiny and audit, and there is no fraud in the mechanism itself. He is trustworthy because he is always exposed to the eyes of an indeterminate number of people.

 

How to place a Market Order on BITPoint Advance?

How to place a Limit Order on BITPoint Advance?

How to place a Stop-Loss Order on BITPoint Advance?

How to place a Market Order on the Web Trading tool?

How to place a Limit Order on Web Trading tool?

How to place a Stop-Loss Order on Web Trading tool?

 

BITPoint Panama arrives to Latin America in favor of innovation in this growing market of crypto active exchange. It is known that this market is relatively new for some people because there are still many people who have not yet heard anything from the Crypto world. That is why we decided to implement, design and write an educational base called “Help Center” dedicated to assisting our new users in the crypto-trading topic.

To create your account on our platform is very simple, first of all, we must go to the button “Create individual account” displayed on the home page www.bitpoint.com.pa and proceed to fill the first form where only It requires your name and email and agree to our terms and conditions.

After confirming your account with your email address we proceed to request the opening of Trading account. This is where we detail our personal information for the KYC process and it is located in the tabs indicated in the following images.

 

Here is where we find the first point and it is the first deposit in your BITPoint Panama account. When the client is new, he has not yet bought his first crypto active, therefore it will be necessary for his first deposit to be in FIAT and also where he enters. in the first commission for withdrawals and deposits in Fiat.

Now when the client already has some of the crypto actives that we manage on our platform, he makes a deposit in CRYPTO.

 

 

 

 

 

 

How do I make a deposit in FIAT?

We click on the indicated areas and the bank information of BITPoint Panama will appear with everything you need to make a deposit via the ACH system.

For more information on cash deposits visit this link in our Help Center: http://help.bitpointlatam.com/knowledgebase/fiat-deposit-in-the-bank/

What are the fees for Deposits and Withdrawals at BITPoint Panama?

As you can see in the image both clients are presented at a first cost for the use of the platform of 5 USD + ITBMS in withdrawals and deposits less than 1,000.00 in Fiat and .5% for those who make deposits and withdrawals in Crypto. Deposits and withdrawals in Fiat usually take from 1 to 3 business days to see the balance reflected in your BITPoint Panama account, in the case of active crypto is almost instantaneous since that falls on the blockchain of each asset.

Now that we have an approved account with the balance we proceed to do Trading. This is where we find that trading has its process.

 

What are market orders and how are they used?

To be able to make a Trade it is necessary to open an order in the market. In these orders we enter the amount that we want to buy/sell of crypto and the value that we want to pay for it. Once you execute your order, it becomes one more transaction in the transaction book. When the transaction is completed it becomes part of the blockchain of its crypto asset.

 

In BITPoint Panama you will find 3 types of orders or transactions, and these are:

  1. Market – A market order means buying or selling an asset at the market price. The market price is determined as the best available price for the asset at the time of placing the order. You can not impose restrictions on the execution of a market order. Because the prices change, the total and the rate are calculated instead of actual values. Therefore, transactions are only executed at the market price.

With this definition we can understand that when we execute a Market order in the market we can only buy and sell at a price that the market says, this is the easiest to make, so the only thing you have to indicate is how much you want and buy or sell

  1. Limit – When placing this type of order, the transaction is only executed when the market offer is the same as that of a single order. A limit order would be the limit price or higher or lower price that a trader has decided to buy or sell. When you execute a limited order, a quantity of funds is reserved in your account. This does not guarantee that the order will be executed. (If there are strong movements, the order may not be executed even if it passes through the price) The limit orders are shown in the order book.

With this definition, we can understand that when we execute a limit order we can specifically establish the price that we want to buy or deliberately sell from the price that is in the market. In the above example we see a Limit transaction in the first image the transaction is to buy where the Market price is circulated at the moment of creating the order in the market and the price indicated in red is the one that is trying to buy a said asset, all the Transactions remain “good” or active until you cancel it. The idea is always to buy for less and sell for more and thus make profits.

* Note: For you to be able to buy at that price there must be someone who wants to sell at that price and when that happens the transaction is closed or completed.

Stop Loss- It is a type of transaction that is placed on the market and is executed at closing and at the best possible price at the moment of placing the order. This differs from the limit order because once the stop price is reached, a stop order becomes a market order. Stop Loss orders do not reserve funds and do not appear in the order books before they are activated.

 

With this definition, we can understand that when we execute a Stop Loss order we do it with the intention of reducing our losses or another way of saying I do not want to buy at the market price, but I will not pay more than this. Since when we open a stop loss order we are aware of two things already at this point 1 that the market is flexible and changing and 2 that in a drastic move my limit order would not be executed.

It is then where we go to the image above where the first point indicates the purchase price in the market and the second point the price of our order in Stop-Loss that was executed to sell my asset at the price I established or the closest to it , but the market trend changed and the order was executed at the price closest to the one I initially established. The red line shows the losses avoided thanks to this order.

For each Transaction in Spot Trading a commission of 1.7% is charged

Now we are going to talk about how to request the withdrawal of those Crypto assets in FÍAT.

Keep in mind that trading is such as a physical exchange, for example:

I have never bought crypto, therefore, I deposit my USD in BITPoint Panama to enter the trading platform and open an order in the market to exchange the USD for BTC (Bitcoin).

Now I keep them for X amount of time and since the price in USD of the BTC went up I want to withdraw them to collect the USD invested plus my profit. Well, to do that I have to go back to Trade and Sell my BTC to get the USD and thus request the withdrawal in FIAT to be deposited in my bank account.

 

How can I request a FIAT withdrawal?

Click on the indicated areas, you will find 2 boxes one with your banking information and another where you should only:

1- Select if you want to withdraw all the available quantity that shows you or a specific amount.

2- Type the specific amount

3- Enter the verification code that will reach your email address.

All withdrawals and deposits depending on the hours in ACH managed by your bank will be reflected within 1 to 3 business days.

Finally, at this point, we have made the Approval of the trading account opening, Our first Deposit in Fiat, we made trading to buy the desired crypto active and we have also requested a withdrawal in FIAT.

Congratulations you are already a new Trader at BITPoint Panama!

 

Este post también esta disponible en: esEspañol (Spanish)