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How To Use CoinList: The One Stop Shop For Early Crypto Users

How To Use CoinList
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CoinList has a mission: to accelerate the adoption of cryptocurrencies. To this end, the crypto platform has developed a comprehensive offer for users, including everything from trading tools to loans.
Users can buy, trade, bet, and lend the most attractive new crypto assets with the multi-service platform.

Here’s how to get started with its range of features.

What is CoinList?

The CoinList cryptocurrency platform has become famous for providing quick access to crypto assets before being listed on other top-rated exchanges.

As a world leader in issuing new tokens, CoinList has helped blue-chip projects like FilecoinSolana, Celo, Algorand, Dapper, Blockstack, Mina, and Casper connect with hundreds of thousands of new token holders. And they now support the entire cryptocurrency lifecycle, from token sales to token distribution, trading, lending, and staking.

Previous increases in CoinList
Image: CoinList

What is available on CoinList?

CoinList strictly monitors the projects, so the selection on their platform is carefully selected. There are currently around 40 cryptocurrencies available to buy or trade, including many emerging assets that have yet to hit the mainstream market.

Getting started with CoinList

Signing up for CoinList takes just a couple of seconds. Go to the registration page and fill in some basic details. CoinList will send a verification link to your email, and the moment you click it, you’re in!

This is what the board looks like:

Coin List Screen

To use many of the services offered by CoinList, you will need to verify your identity, a simple legal process known as KYC (Know Your Customer). This step will require your name, address, selfie, and government-issued ID. For most people, this should take less than 5 minutes.

Once your account has been verified, you’re good to go!

How to trade on CoinList

Before you can start buying, selling, and trading cryptocurrencies on CoinList, you must first fund your wallet. Once logged in, click on “Wallet” in the left sidebar. By default, this will be the first item on the list, the US dollar (USD). To add funds to your wallet, click on “deposit.” You will now need to link a bank account (using the Tartan button service) or send a bank transfer using the details provided (when sending a bank transfer, it is very important to include the Memo field precisely as written).

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After loading your account with some USD, you can start buying cryptocurrencies. Use the left sidebar to access the “Buy and Sell” page and use the dropdown menu to select your favorite cryptocurrency. Enter the quantity you wish to purchase and click on “Preview Order.” If you are satisfied with the transaction, click “Confirm Order,” and the cryptocurrency should arrive in your wallet.

You can also deposit cryptocurrencies to your wallet from another location by navigating to the “Wallet” page and selecting your preferred cryptocurrency. Click on the “deposit” button and follow the instructions on the page; You will need to copy the CoinList wallet address on the page and follow the usual steps to send crypto from your wallet or exchange of choice.

In addition to buying and holding cryptocurrencies on CoinList, you can also actively trade cryptocurrencies within the platform. Go to the “Buy and Sell” page, select the two assets you want to trade, and enter the amount you wish to trade. Then click “Preview Order” to check your order details.

If you’re satisfied, click “Confirm Order,” and your assets will be exchanged almost instantly, and your wallet will be updated to reflect the new token balances. You can only trade between selected types of assets.

More advanced users can also navigate to CoinList Pro, which offers a broader range of trading tools, including stop and limit orders.

CoinList Pro offers a wider range of tools for advanced traders. Image: CoinList

How to bet on CoinList

While cryptocurrencies like Bitcoin or Dogecoin are collateralized by mine ( proof of work ), many newer cryptocurrencies use an alternative consensus mechanism known as proof of stake (PoS). PoS replaces mining and the expensive hardware required with another economic resource: available funds.

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Stakeholders commit their crypto assets to the network to help the blockchain validate transactions and are rewarded with a portion of the network rewards.

Gambling can be a technically complicated and involved process with high financial requirements. CoinList abstracts away this complexity, making staking a simple method for users. It is an opt-out process, so your assets held on CoinList will automatically be staked for you unless you choose otherwise.

There are no requirements to stake on CoinList other than the relevant assets.

Coin List currently allows users to stake FLOW, MINA, CSPR, NU, CELO, and ALGO (US users are limited to NU, CELO, and ALGO staking).

To place an asset on CoinList, you must first purchase it or deposit the investment into your CoinList wallet. To do this, see the ‘how to trade’ section above. The game begins once your cryptocurrency is in the CoinList wallet!

CoinList does not charge users for staking but does take a commission on staking rewards paid to users, like all intermediary validators out there.

Rewards vary by asset and fluctuate based on blockchain network conditions. The more people bet, the less rewarding it becomes for many assets.

If you don’t like the idea of ​​gambling for whatever reason, you can opt out.

How to lend on CoinList

CoinList allows users to lend cryptocurrencies and earn a fixed interest rate on certain assets (currently, lending is limited to Filecoin).

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Loaning on CoinList only takes a few clicks.

On your dashboard, click on “loan,” which will display a list of currently available programs. The programs include key information such as minimum encryption requirements and duration; Before participating in a loan program, you will need to meet these requirements, including providing photo identification and (for US users) your Social Security number.

Once you find a program you like and meet the minimum requirements, click on it and enter the amount you want to lend. The initial capital plus the interest generated will be returned at the end of the loan term. Remember, lending means you can’t touch your funds while they are being lent.

These are time-limited programs, so keep an eye out for when CoinList starts accepting the next batch for the good you want to lend.

What is the future of CoinList?

In September 2021, CoinList launched Karma, a system that rewards users for contributing to token rewards on CoinList. The higher your contribution through value-added activities, the higher your Karma. The activities can be passive, like staking your coins on CoinList, or more active, like participating in the CoinList hackathon or mining programs.

Karma is a form of a badge, and users with high Karma levels gain access to the Priority Queue, allowing them to access token sales faster than the usual route. In the last 3 sales, CoinList has invited over 1,000 users with Karma to the priority queue.

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