Module 4: Buying and Selling Crypto

Welcome to Module 4! You’ve learned the basics of cryptocurrency (Module 1), how blockchain works (Module 2), and how to secure your assets (Module 3). Now it’s time to tackle one of the most important steps in your crypto journey: buying and selling.

In this module, we’ll delve into long-term investing strategies like Dollar-Cost Averaging (DCA) and explain why liquidity is crucial if you’re trading large volumes, introduce how to approach diversification and guide you through creating and verifying your Wayex account, adding funds, and executing your first trades.

‍

Objective🎯

By the end of this module, you’ll be able to:

✅ Understand why people buy and sell crypto from a long-term perspective (beyond day trading).

✅ Learn about dollar-cost averaging (DCA) and how it can smooth out volatility.

✅ Create and verify your Wayex account in minutes.

✅ Add funds to your account via multiple payment methods.

✅ Buy and sell crypto safely through the Wayex interface.

✅ Recognise how liquidity affects trade execution and why Wayex’s deep liquidity is an advantage.

✅ Explore diversification across various categories of crypto projects.

‍

Why Buy and Sell Crypto for the Long Term?💡

Some traders specialise in short-term profits from daily price swings, but long-term investing has its own appeal:

1. Fundamental Belief 🔗💰
   
   • Bitcoin as “digital gold,” a hedge against inflation.
   • Ethereum and other platforms promising a new era of smart contracts and decentralised apps.
   • Many investors purchase and hold (or “HODL”) for years based on a crypto’s technological or economic potential.
2. Market Timing 📉📈
   
   • Long-term buyers often wait for dips to purchase at lower prices.
   • Selling might occur during a bull run if you believe a coin has outpaced its fundamental value.
3. Dollar-Cost Averaging (DCA) 📊🔄
   
   • Involves buying small amounts of a cryptocurrency at regular intervals, regardless of the price.
   • Example: One wallet has purchased $30 of Bitcoin daily for 8 years, weathering bull and bear markets alike.
4. Portfolio Diversification 🔄📂
   
   • Crypto is no longer just Bitcoin or Ethereum. Projects now span multiple categories:
     
     • RWA (Real World Assets): Tokenizing physical assets like real estate or commodities.
     • Infrastructure: Protocols focusing on scalability, speed, or interoperability (e.g., Polkadot, Cosmos).
     • Gaming Tokens: Powering in-game economies (e.g., Axie Infinity, The Sandbox).
     • Privacy Coins: Offering enhanced anonymity (e.g., Monero, Zcash).
   • A balanced long-term strategy might include multiple segments, mitigating risk if one sector underperforms.
5. Personal Goals 🏡💰
   
   • Some hold crypto as part of retirement planning or future expenses (like buying a house).
   • Others see it as a hedge against traditional financial systems.

How Liquidity Impacts Your Buys and Sells 💧

Liquidity describes how easily you can buy or sell an asset without significantly affecting its price:

• High Liquidity: Large orders can be filled quickly at consistent prices.
• Low Liquidity: Even moderate trades may cause “slippage,” pushing the price higher or lower than expected.

‍

Why Wayex? 🚀

Wayex boasts the deepest liquidity in Australia, meaning:

1. Less Slippage: Your big trades won’t drastically move the market.
2. Faster Execution: More traders and orders on the book.
3. Better for Bigger Buys/Sells: You don’t have to worry about splitting orders or getting unfavourable prices.

‍

How to Create and Verify a Wayex Account (in 5 Minutes) ⏳📲

Sign-Up Process

1. Download the Wayex App 📱

• Access the app or the official website.

2. Create an Account ✍️

• Tap Sign Up, enter your email and a strong password.

3. Verify Your Mobile Number 📲

• This will act as your 2FA (2 Factor Authentication)

‍

KYC Verification Process

1. Log In 🛡️

• Use your new credentials.
• Navigate on the Dashboard
  
  • Tap Verify Your Account.

2. Provide Information 📜

• Full name, date of birth, address.

3. Upload Documents 📸

• Photos of a government-issued ID and a selfie.

4. Approval ✅

• You’ll get an email once approved, usually within minutes.

📌 Summary

• Download the Wayex app and sign up.
• Complete KYC to access full features.
• Start depositing and trading once approved.

‍

Adding Funds to Your Account 💰

Bank Transfer (BSB & Account Number or PayID) 🏦

• BSB & Account Number: Typically processed same day or next business day.
• PayID: Often near-instant, especially if your bank supports fast payments. (Note, the first deposit can take a little while depending on the bank)

‍

Watch the Video Below on How to Deposit AUD on Wayex

‍

‍

Depositing Cryptocurrency 🔗

1. Log In

• Access your verified Wayex account.

2. Tap Deposit

• Select Deposit Crypto.

3. Choose Your Coin

• E.g., BTC, ETH, etc.

4. Copy or Scan

• Get the deposit address or QR code. It is important to ensure you are depositing on the right chain. Always double check your deposit address.

5. Transfer

• Initiate from your external wallet.
• Check the Transaction History to confirm.

‍

Watch the Video Below on How to Deposit Crypto on Wayex

‍

‍

Overview of Wayex’s Buying and Selling Process (Wayex Web)

Buying Crypto

1. Log In: Open your Wayex account.

2. Tap Buy: Inside the Trade section. You can select how you buy through Simple or Advanced methods on the top right hand corner of the Trade screen.

3. Select Your Crypto: BTC, ETH, or any supported coin.

4. Enter Amount: In AUD or crypto units.

5. Review Details: See fees and total cost.

6. Confirm: Tap Buy Now and your crypto appears in your wallet.

‍

Watch the Video Below on How to Buy Crypto on Wayex

‍

Selling Crypto

1. Go to Trade or Wallet: You will be able to see your available balances in Wallet.

2. Choose Coin and Tap Sell.: e.g., BTC or ETH.

3. Enter Amount: Number of coins or desired AUD amount.

4. Review Fees: Check how much you’ll have left in your account and how much you will recieve.

5. Confirm: Tap Sell Now; your balance updates automatically.

‍

Watch the Video Below on How to Sell Crypto on Wayex

‍

Understanding Fees and Transaction Costs 💰

1. Trading Fees 💵

• A small percentage of your trade value.
• Displayed before you confirm any transaction.

2. Deposit/Withdrawal Fees 🔄

• May Vary depending on your action.
• Some banks or networks charge their own fees.

3. Network Fees ⛓️

• Blockchain fees (miner/gas fees) fluctuate with network load.
• These are merged with your withdrawal fees on Wayex

💡 Pro Tip: Always check the fee breakdown so you know your exact costs. That way, you can factor in fees when planning bigger buys or sells. And you’ll be happy to know that Wayex has among the lowest fees in Australia!

‍

How to Make Your First Crypto Purchase Safely 🛒

1. Start Small 💸

• If you’re just beginning, test the waters with a modest amount (e.g., $50–$100).

2. Double-Check Details 🔍

• Confirm the coin ticker (e.g., BTC, ETH), fee structure, and total purchase.

3. Use Official Channels 🌐

• Only log in via the official Wayex website or app to avoid phishing.

4. Enable 2FA 🔐

• Heighten security with two-factor authentication.

‍

📌 Key Takeaways

• Long-Term Approach: Buying and selling crypto isn’t just for day traders. Many invest based on fundamentals, DCA, or personal financial goals.
• Diversification: The crypto world encompasses RWA, infrastructure, gaming, privacy coins, and more. Spreading your investments can help manage risk.
• Deep Liquidity Matters: Wayex’s order books ensure minimal slippage, crucial for large trades.
• Simple Setup: Verifying your Wayex account is quick, fund your account and start buying/selling in minutes.
• Stay Secure: Always use official channels, enable 2FA, and be mindful of fees.

‍

Final Thoughts 🤔

Buying and selling crypto for the long haul can offer unique advantages compared to short-term trading. Whether you’re using DCA, timing the market, or diversifying across various crypto categories, like RWA, infrastructure, gaming, and privacy coins, Wayex provides a streamlined, liquid, and secure platform to help you meet your goals. Always stay mindful of fees, maintain robust security, and remember: a clear strategy often beats chasing short-term hype.

Next Step: Ready for more advanced features, like setting limit orders or exploring how to spend crypto in daily life? Keep moving forward to the upcoming modules and unlock even more ways to make the most of your crypto journey!

‍

Quiz – Test Your Knowledge!

Here’s a 10-question multiple-choice quiz based on Wayex Academy – Module 4: Buying & Selling Crypto.

Each question has four answer choices, with the correct answer indicated.

‍

Scoring:

🎯 9-10 Correct: Crypto Pro! 🚀 You’ve mastered the basics and can confidently explain crypto to anyone.

✅ 8-9 Correct: Well Done! You have a solid understanding—keep learning and exploring.

🧐 6-7 Correct: Good Start! You’re getting there, but review some sections again.

❌ Below 5 Correct: Keep Learning! Go back through the module and try again

‍