CryptoMarket works with: Argentine Pesos, Chilean Pesos, Brazilian Reals and Euros.
CryptoMarket is currently available in Argentina, Chile, Brazil and Spain.
CryptoMarket (CryptoMKT) is a cryptocurrency exchange market available in Chile, Argentina, Brazil and Spain that allows you to perform operations directly in your local currency. In this guide, we’ll show you how to use it.
Initially, CryptoMarket started as an exclusive Ethereum exchange, however, thanks to the quality of their services and the fame they gained, they decided to expand to exchanges with Bitcoin and other cryptocurrencies, positioning themselves as one of the main exchanges in Latin America.
One of the strongest points you can find within CryptoMarket is trading in your local currency. That, in addition to the basic format of buying and sellingoffers you advanced trading charts (allows TradingView), which allows you to order in Chilean pesos, Argentine pesos, Brazilian reals or euros. But, if you don’t want to complicate your life, you will also have a tool for quick buying and selling. We will describe each of them in detail later.
Another very special option you can find on CryptoMarket is “Instant Deposit”. Which immediately allows the amount of deposited cryptocurrency as an available balance. Advantages? Use the price you see immediately, without waiting for confirmation. We will explore this option further when depositing cryptocurrencies.
Cryptocurrencies, payment methods and commissions
Within CryptoMarket you can make exchanges with cryptocurrencies such as:
Each can be exchanged for local currency, as long as the market has the liquidity you need.
Another important detail is that CryptoMarket does not allow exchange between cryptocurrencies, only fiat money and vice versa.
As for the payment methods, they usually differ depending on the country:
- Chile: You can buy through RUT account in state bank and from any bank through bank transactions.
- Argentina: MercadoPago and HomeBanking platforms of national banks for deposits and withdrawals.
- Brazil: You can deposit or withdraw via MercadoPago or TED/DOC bank transactions
- Europe: Bank transactions only.
It must be taken into account that, for withdrawals, the bank account must be linked to CryptoMarket. Therefore, you must be its owner, otherwise it is not possible to make a proper withdrawal.
Commissions on CryptoMarket
Within CryptoMarket, in addition to deposit and withdrawal commissions, there are two types of special commissions called Taker and Maker. The Contractor is the commission charged to the person who creates the order, and the Taker is the commission paid by the person who receives the commissions of the said order and executes it.
You can see the values of the different commissions below relationship.
How to register on CryptoMarket
Registering with CryptoMarket is quite simple, as you just need to enter your email and password from the registration window, without further ado.. This will make you an Observer level account holder which will let you know how the platform is structured.the possibility of entering different sections, but without the possibility of trading.
If you want to start trading, you will need to upgrade your user level to at least basic level. Which will allow you to trade a monthly amount, which varies depending on the country where you register.
For the basic level you will need to provide a platform:
- Personal data such as name, telephone number and residential address.
- Confirm whether you are a politically exposed person.
- A photo of an identity document, whether it is an identity card, passport or DNI.
- Phone number verification. Where a verification code will be sent to you.
Once verification is complete, this process may take up to 72 hours.
The higher your verification level, the more volume you will be able to trade on CryptoMarket. Source: CryptoMarket.
If you want to know more about the different levels of verification, you can visit following link.
How to buy and sell cryptocurrencies on CryptoMarket
At this point, we assume that you have registered and have at least a basic level of verification. If everything is correct, let’s start.
First of all, there are 3 different ways to buy and sell within CryptoMarket: Simple, Basic and Advanced. Each of them offers you different tools depending on your level of knowledge.
- Simple: A simple process where there is no contact with graphics or the order book. The system is one that shows the price (taking the market price) and shows the total amount to pay.
- Basic: While you’ll find some graphics upon entering, it’s super simple. In this mode, you will be able to observe both the market charts and the order book, and when buying, you only have to set the amount to buy or sell, since the order is executed at the market price.
- Advanced: As we have described well, CryptoMarket allows you to trade cryptocurrencies and your local currency, so within this advanced buying and selling option you will find trading tools such as limit, market or stop-limit order type, which will allow you to take better advantage of market fluctuations.
Before we show each of the processes, we will show you what the deposit and withdrawal processes look like in cryptocurrencies and fiat money.
Deposit in national currency on CryptoMarket
In order to buy cryptocurrencies, obviously in addition to your local currency supported on CryptoMarket (namely: Chilean peso, Argentine peso, Brazilian real or Euro) you will need to make a deposit within the platform.
If you’re coming from a buy-sell platform like LocalBitcoins, you might be a little confused by the payment thing, since you’re not paying a deposit directly to the seller. But don’t worry, the process is not complicated at all and it also offers you an extra level of security to trade with as we mentioned above.
Although you can deposit from different countries, the account from which you deposit must be personal and in your name.
To get started, the first step is to go to the Wallet section and select the national currency in which to deposit.
CryptoMarket accepts Chilean pesos, Argentine pesos, and even Brazilian reals. Source: CryptoMarket.
Within the selected currency, You will see the Deposit/Withdrawal section where you will find the appropriate deposit account numbersas seen in the previous figure for the case of the deposit from Chile.
Before you make any deposit, keep two things in mind: The first is that you must only deposit from a personal account in your name. Second, you need to consider the amount available for work, which you can see directly from the Available for Work box.
With the deposit made, you will now need to notify him. To do this, also in the Wallet section, locate the Notify option under Deposit. As you can see at the bottom of the image above. There you will need to provide some information regarding the deposit, which may vary by country. It remains only to wait for them to be assigned to the account.
Funding process It usually takes 6 hours on average.
Deposit cryptocurrencies at CryptoMarket
In order to deposit cryptocurrencies, you need to get a suitable wallet address, which can be found in the Wallet section of the receiving tab when you select the appropriate cryptocurrency.
In the case of cryptocurrencies such as EOS or Stellar, you will also have MEMO, necessary to perform transactions. Source: CryptoMarket.
At the time of deposit, as we explained at the beginning, we will have a characteristic instant depositwhich instantly allows the deposited amount, without even getting a confirmation, in any of the available cryptocurrencies.
This allows users to start trading immediately, with a wait of only 30 seconds before you see available funds. Of course, until the deposit receives the necessary confirmations, you will not be able to perform other actions within the platform.
If you want to know more about the instant deposit feature, you can visit the following relationship
CryptoMarket Fiat Currency Withdrawal
Before you want to make a payment, first of all, you need to consider the payment methods offered by CryptoMarket, which differ from country to country, i.e. withdrawal by bank deposit enabled for all countries where CryptoMarket is available.
Also, you must register your bank account before withdrawing. To do this, you will need to go to the Account option and select the Bank Information option, where you will need to select Add Account.
You can only add bank accounts that you own. Source: CryptoMarket.
You will now need to fill out a small form with your account information. Please note that the details must match those you provided at the time of verification, as only the registration of personal accounts owned by you is accepted.
Continuing, now with an added account, you can go to the Wallet option and select the currency in which to make the withdrawal.
Users will be able to link only those bank accounts they own. Source: CryptoMarket.
Here you will need to select the Make Withdrawal option, which will open a small form where you will enter the amount in the national currency to withdraw and select the destination account. Once you have done this, you confirm and confirm that everything is correct and proceed with your withdrawal. Payouts can take an average 6 working hours depending on the time of payment.
If you want to know more about how to make payments on CryptoMarket, you can visit the following relationship.
Withdrawal of cryptocurrencies from CryptoMarket
When you want to make a withdrawal in cryptocurrencies, you need to go to the Wallet section and select the currency to withdraw.
Lumens (XLM) wallet example. Source: CryptoMarket.
Once there, you’ll need to provide your shipping address, MEMO (only for Stellar and EOS), and the amount to send. Always remember to check that the address you are shipping to, since cryptocurrency transactions are irreversible.
Once everything is checked, now all that’s left is to choose to make the transaction and that’s it. You can also view the transaction history on the Movements tab.
How to Buy or Sell Cryptocurrencies on CryptoMarket with Simple
Simple It is the most basic system that CryptoMarket offers to its users. “Simple” is basically the fact that you won’t need to see or interact with any kind of chart or markethere you’ll just have to enter the amount and that’s it, you’ll see why.
Shop with Simple
To buy through this medium, the first thing you need to do is go to the Dashboard and select the buy option that you will see at the top, next to the Sell option.
Since this is a quick purchase, CryptoMarket determines the price based on the volume of your purchase. Because, in short, you are actually buying on the internal stock market, but with the help of a platform. Source: CryptoMarket.
Now, from here the next steps are: Enter the purchase amount, confirm the purchase, click buy and that’s it. Cryptocurrency allocation is instant and you will be able to see it in your account.
The price you will receive will depend on the market price and the size of the order.
Sell with Simple
Selling is no different in its simplicity, because just like buying, the first thing you need to do is go to the Dashboard and select the Selling option.
Window sales through a simple process. Source: CryptoMarket.
Now the only thing you will need to indicate, after choosing a cryptocurrency, is the amount to sell as long as it is in line with the available amount that you will see at the top. Also, at the bottom you will see the total sales amount expressed in your local currency. Please note that the price is determined according to the internal exchange rate and the size of your order.
After that, you simply have to click on Sell, where it will be necessary to check and confirm the said purchase and that’s it. You will now be able to see your balance displayed on your dashboard.
Buy and sell on the underlying market
This type of exchange can be said to be designed for users who understand what the order book and market charts are. However, it should be noted that it is not at all complicated.nor is it far from a simple method of buying and selling in terms of simplicity.
To access this option, you need to click on Market, from the side menu, where several options will be displayed from which you will have to select Basic.
Basic market screen for buying and selling. Source: CryptoMarket.
In this market you will find a chart related to an exchange pair, for example, Bitcoin/Argentine Peso, which you can change by changing the country from the flag in the top menu. In this way, the first thing that is displayed in this method is the book of buy and sell orders, as well as the most recent transactions made in the market.
In order to make a purchase or sale, without major complications, you need to choose the option of an open market order. In it you have to set either the amount in the national currency or the cryptocurrencies you want to buy or sell.
As for the price, it will be placed under a market order, where it is immediately executed at the market price and you will see the funds reflected in your portfolio.
Note that if your order size is very large, it will occupy multiple orders within the order book, causing the final price to vary. So check the final price before confirming.
Advanced buying and selling on CryptoMarket
This mod is intended for advanced users, not because of the level of complexity that may be required to use, but because of the tools that allow you to take better advantage of the ups and downs that the stock market can have against certain national currencies.
To access this trading tool, you will need to go to the Market option and select the Advanced option.
Advanced market screen for trading. Source: CryptoMarket.
Within this market you will basically have the tools that any advanced exchange can offer you. As well as charts provided by TradingView, and on the right a book of buy and sell orders.
If you want to do some kind of technical analysis, since the charts are directly provided by TradingView, you can apply the various indicators it has available.
In terms of trading tools, you will have 3 different types of orders:
- Limit Order: This type of order sets the price at which you want to buy, and it will be executed when the market price reaches the set price.
- Current order: It is an order in which you will place only the amount to buy, because it will be executed and will consume as many orders as it covers the total size of your position. Also known as a Market Order.
- Stop-Limit Order: This is usually an order widely used by professional traders, and here you will set 3 variables. Stop, which is a warning at which the order will go to the market, Limit price is the price with which the order will exit after exceeding the Stop price and finally the amount to be exchanged.
You can use each of these orders with the 4 fiat currencies available so far.
Now, to buy or sell, the first thing to do is to choose a pair to trade. Remember that you can change the national currency from the flag in the top menu. Then you have to choose the appropriate order and set the various variables. Once all that is ready, you just need to check the buy or sell and the order will be placed in the Active Orders section. Once launched, you will be able to view your cryptocurrency or fiat money balance directly from the Dashboard in the main menu.
Something that stands out about CryptoMarket and differentiates it from its competitors This is the fact that it is exchanged in pairs directly with the national currency of 3 Latin American countries many different ones. Something that is completely new for operators, as they are usually used to doing operations with international currencies such as the dollar, the euro – which is also available – or the yuan. Likewise, the ability to trade without waiting for confirmations on Bitcoin networks or other currencies adds another novelty for users to take advantage of.
In short, we are dealing with a powerful exchange house that has established itself as the main exchange alternative in the countries where it is currently available, and we hope that it will continue its expansion path to many more Spanish-speaking countries.