Kryptono is a Singapore-based cryptocurrency exchange with a trading market dominated by BTC/USDT, ETH/BTC, and ETH/USDT pairs. It recently listed LoyalCoin as one of the coins you can trade within the exchange platform.
Officially trading in the platform on August 21, 2018 for deposits and August 22, 2018 for trading, LYL is now open for LYL/BTC and LYL/ETH trades.
This article will show you how to buy, sell, and trade tokens such as LYL using the Kryptono Exchange.
Table of Contents.
Step 1: Signing Up to Kryptono Exchange
Go to the official Kryptono Website: https://kryptono.exchange
Click on SIGN UP that you will see on the home page or at the top right corner of the site. You will get directed to the REGISTER page where you will need to complete the necessary details such as e-mail, password, and an optional referral ID then tap on REGISTER once done. Slide the KNOW token to complete.
Step 2: Verification and Google Authenticator
After successfully sliding the KNOW token, you will be asked to verify your email. After you verified, put in your login credentials and make sure to add another security in your account by choosing Google Authenticator. You can download it on the App Store or Play Store. Follow the directions and don’t forget to click on Next Step. After finishing all the necessary steps, you will get directed to your profile.
Step 3: Depositing Funds
You can now proceed to deposit funds in your account. You can do it by clicking on FUNDS then DEPOSITS. You will get into a similar page like the one on the image. For the sake of the article, we will choose the BTC/LYL pair. Since you will need BTC in order to buy LYL in the exchange, click on the drop-down button and choose BTC – Bitcoin. You will see your Deposit Address.
Open your BTC wallet, be it Coins.ph, Bitbit.cash, Abra, or TagCash then send your BTC to your Kryptono BTC address.
Note: How to Send BTC from Coins.ph to Kryptono?
Take note of your BTC address on Kryptono. On Coins.ph, click “send” on your BTC wallet. Click “Enter BTC Address” and paste your Kryptono BTC address there. On mobile, you can also use “Scan QR Code”.
Step 4: Trading
After depositing your BTC funds, we can now go to TRADE. You will see the trade option on the upper left side of the side. For the sake of the article, we will choose Basic. You will get directed on the same page similar to the image above. Since our funds are BTC, make sure you’re choosing the BTC trading pair and since we’re looking for BTC/LYL, type in LYL in the search box.
You will see the LYL chart. Scroll down a bit and you’ll see almost the same view as the image above. Now, you can either buy LYL on its market price shown above (inside the red box) at 67 sats or you can buy from the sell orders inside the yellow box. You can choose your price, click on your chosen price, put the amount and click on BUY.
You have successfully purchased your LYL using the BTC/LYL trading pair. Note that the system needs to match your buy order with someone wanting to sell LYL on the price you designate, so there might be some wait time.
Step 5: Sell
Selling is almost the same as buying but this time we will sell LYL to BTC. You can set the price or use the market price. On the image above 1 LYL = 68 sats, you can make it 67 sats or lower and then put the amount of LYL you’re going to sell and click on SELL.
Step 6: Withdraw
After a successful trade, don’t forget to withdraw your funds. Put it safely inside your chosen cryptocurrency wallet. Since we’re withdrawing LYL, you can store it inside your NEM Wallet.
Take note that in this article we only used BTC/LYL as an example. You can use other trading pairs such as BTC/USDT, ETH/USDT, TRX/BTC, XEM/BTC, among others.