Getting Started with WEEX
Introduction to WEEX
In this tutorial I’m going to show you how to open a trade on weeks where you can actually trade cryptocurrencies like Bitcoin ethereum Dogecoin and a thousand other cryptocurrencies with up to 200x leverage with zero kyc meaning that you can trade on weeks literally from any country in the whole world.
About WEEX
Let me first give you a brief little intro what is weeks. So weeks exchange officially branded as week’s International Exchange LTD is a leading digital currency platform uh launched actually already in 2018 so it’s actually a very old exchange which is a good thing because that gives us very High trust right the new exchanges less but the the old ones that’s what I usually go to. They had a $100 million investment from a prominent blockchain investment firm in Singapore. Weeks has a big USP and this is the fact that it’s available in every single country. I know that some people live in the land of the not so free and other countries where basically you’re restricted from the cryptocurrency market with 100 to 200x leverage.
Well on weeks every single person in the world can actually now trade Bitcoin with leverage. That’s the biggest USP here that anyone can do that. Another thing that weeks is known for is the fact that it’s very user friendly and also very liquid. You can go and make very big trades there personally I’m doing multi-million dollar trades and the liquidity is perfectly fine on weeks. You can trade up to 200x leverage and also weeks has a token called the wxt and you can buy the token here over on weeks. Personally I have bought a bunch of this token because I’m personally very very bullish on Exchange tokens just look at B&B binance token it has performed astronomically well and I believe that the weeks token will also do very well in the next few years so yeah go and check it out if you want to personally I bought some.
Creating a WEEX Account
Now if you want to sign up you then you click sign up in the top right corner it will take you to this page. Enter your email address create the strong password. Confirm your email address by clicking the link that they sent to your email and you can also sign up with your phone number.
Making a Deposit
And how to make a deposit well you click on deposit now tab on on the main page. Click here and choose the token you want to deposit. Next you click here and choose the network. After this you click on gets deposit address and weeks will generate a deposit address for you. You can use this address on your withdrawal platform. You can check your deposit history right here. Once you receive the deposit you can find it in your wallet click here on asset overview or you can check your balance under your profile tab.
Trading & Security on WEEX
Opening a Trade
All right so how can we now open up a trade and access this 200x leverage. Obviously 200x is very very high risk and I do not recommend using 200x. I think up to 20x is usually the recommended range. Basically you click here on Futures and it will take you to this page you can start Futures Trading and you can choose up to 200x of course if you want. Here you can see a very basic interface with coin selection on the left order options like limit Market trigger with tpls and post only on the right and a charge with upto-date info on selected coins in the center and details and options of already open orders on the bottom. Here you can see the current value of the trading pair 24-hour change percentage mark price 24-hour high price and low price 24-hour volume funding rate and countdown. Now let’s say you want to open up a Bitcoin position you can use here a limit order for example that’s the recommended way to get into the market because with the limit order you control the entry price.
So you can use the limit order to set the minimum price for a sell order or the maximum price for a buy order and basically it helps you take charge of your trades by setting the specific price limits. A limit order remains active until it’s either executed or until you cancel it. To place a limit order you click on limit click here and choose between cross margin and isolated margin. Click here to choose the leverage and you can choose up to 200x leverage. I’m going to explain cross margin and isolated margin in just a couple of minutes. Click here and enter your order price or you can use the percentage bar to add a takeprofit or stop-loss. Take this box choose between long and short add your takeprofit price and stop-loss price and you can see the return rate percentage here. Confirm your order details and click on open long and open short. Once your order is filled you can view its details under the positions tab.
Read our full tutorial – WEEX Exchange Tutorial
Placing Market/Trigger/Post-Only Orders
If you want to open a market order you can do that as well and that’s a great way to go fast into the market when you don’t have time to wait for a entry. You pay higher fees but you have a quicker entry and sometimes paying a higher fee can actually make you more money. I’ve many times seen this myself when you have a breakout well either you miss the breakout or you do a market order so it’s your choice. Usually I use Market order in breakout trading. To place a market order click on Market click here and choose between cross margin and isolated margin. Click to choose the leverage click here to enter the amount. Add the take profit or stop-loss which you should always do of course. Confirm your order details and click on open long or open short.
Once your order is filled you will see it down here in the positions tab. If you want to do a trigger order this will only be placed when the market price reaches the trigger price according to the specified price that you set based on the price the quantity and the buy sell Direction. The price used to trigger the order can be the last filled price or the Mark Price. To place a trigger order you click here on trigger click here on you choose between Cross or isolated margin. You choose the leverage you click here to enter the trigger price. Enter the amount of your order here take profit stop loss of course. Confirm your details and you press open short or open long and then you can see the position in your positions tab. If you want to do a post only order this ensures that your order will only be placed on the order book if it can act as a maker order meaning it would not execute immediately against existing orders and will only fill when someone places an order that matches your price effectively allowing you to avoid paying taker fees and contribute to Market liquidity by adding depth to the order book. If your limit order price would result in an immediate execution the post only feature will reject the order entirely. So post only is a very good feature and I’m very happy to see that weeks uses that.
Spot Trading & Copy Trading
If you want to trade spot you can also do so it’s very similar you have a limit order as you can see right here. You can trade a huge amount of cryptocurrencies here. You can use a limit order you can use the GTC post only ioc or F. The good till canceled these orders will remain active until they are filled or cancelled. Post only orders are added to your order book and will not match a market order ensuring that the user remains as the maker so you don’t pay those taker fees. The immediate or cancel the ioc orders cannot be filled at the specified price the unfilled portion will be cancelled. The fill or kill orders will be canceled immediately if they are not filled in their entirety.
Here you can see the current traded price of Bitcoin click here and enter the amount click either buy or sell Bitcoin easy. The market order is very easy you open up a market order it takes the best price possible and that’s a quick way to get into the market even on spot. Here something very cool on weeks is that you can also use the copy trade Pro option which not only allows you to share your strategy but also to use other Trader strategies explore the ranking of the best Traders and more. It’s we launch feature offers separate exclusive weekly airdrop features for wxt holders with the same exclusive favorable conditions. The rewards hub on weeks is the section where you can learn more about their types of terms and claim them such as your welcome bonus for example.
Security Features
In addition to Legal safety weeks strives to provide Technical and Financial Security. In particular it does have a proof of Reserve namely 1,000 Bitcoin as user fund reserves among other assets while its wxt token has been audited by blockchain security firm bosen. Also very important is to set up two Factor authentication on your account you can do that over here you click here and then you just set up your two- Factor authentication it’s very important to increase the security of your account.
Outro
Now if you don’t want to trade on weeks I do have some very good Alternatives. If you go below this video you will find coin flare it’s a fantastic exchange one of the most loved and fastest growing exchanges right now. The most trusted and highest liquid leverage trading Exchange in crypto is actually buybit.
So yeah Now please leave a thumbs up down below would be great if we can reach 1,000 likes on this tutorial and I will make more tutorials in the future for sure. Thank you so much. If you haven’t seen this video which is popping up right here go check it out right now it’s so important to watch it and I’ll see you there bye-bye.Check out Youtube video:https://www.youtube.com/watch?v=tVvuHQ1Xgyk