So, now that you have verified your identity with AAX and you’ve been given some Bitcoin to trade with, let’s discuss the basics of trading. On AAX, there are over 70 different crypto-to-crypto trading pairs. Bitcoin can be traded against 17 other coins such as Ethereum (ETH), Litecoin (LTC) and Basic Attention Token (BAT).
But you don’t necessarily have to keep Bitcoin as your main currency, because as you trade against other coins to win a profit and increase your Bitcoin funds, the price of Bitcoin may be decreasing in value against the US dollar.
There are different ways to deal with this. One way is to trade on the Futures platform to hedge against risk, but we will get into this later. Another way is to trade all your Bitcoin for a stablecoin such USDT and then trade that coin against other currencies.
Trading Bitcoin can also be done through our OTC platform. This over-the-counter marketplace is where you can sell or buy Bitcoin in exchange for fiat currencies such as US dollar, Hong Kong dollar or Chinese Yuan.