A Beginner's Guide
Xena has developed powerful tools that simplify profit from extraction from the cryptocurrency markets and make trading convenient and frictionless.
Currently, Xena offers spot trading between different cryptocurrencies. In the future, the platform has plans to launch derivatives trading with leverage of up to 100x, as well as between crypto and fiat currencies.
To begin trading on Xena, follow these easy steps.
1. Sign up to Xena Exchange
Go to the registration page and enter your email. After completing the email verification process, you will be asked to provide your basic personal information, including your name and country of residence, after which time your account will be active.
Verify your account
The verification of your account is not mandatory but is recommended. Verified accounts have much higher withdrawal limits and more security features, such as resetting two-factor authentication. The verification of an individual account requires only two documents (ID and proof of residence), is automated, and usually takes a couple of minutes to complete.
Make your account secure
We strongly recommend you enable two-factor authentication for your account. Refer to this dedicated article for instructions.
2. Open an account
There are two types of accounts you can open on Xena Exchange:
- Spot account that can be used to trade and exchange cryptocurrencies with other clients. A spot account can be used to keep and trade any cryptocurrency from those supported by Xena Exchange
- Margin account that is required for trading Xena Listed Perpetuals — innovative cryptocurrency-settled derivatives allowing leveraged trading. Margin accounts are nominated in BTC, and you can deposit and withdraw only BTC to them
Spot account is opened for you automatically after you sign up. You can open a margin account from the Account page:
You can open up to 5 margin accounts that will be tracked independently. Use multiple accounts if you engage different trading strategies and do not want to them to interfere each other.
2. Deposit funds
To start trading, you need to deposit funds into your account. Here is an article detailing the deposit process.
3. Start trading
There are three different ways to execute trades on your account:
- Our powerful web-based trading terminal with rich charting and custom-trading signals is best suited for professional traders. Planned future upgrades include a desktop terminal with a strategy tester, synthetic instruments, and more. The user manual for the terminal is located
- The investments page is a highly simple yet powerful way to see where market is going and to execute your trades with one click. Learn more about using the investments page
- Market data, trading, and transfer APIs help automate your trading strategies.
Multiple order types, including stop-loss and take-profit orders, are supported.
Xena Exchange offers low trading commissions and maker rebates.
4. Track your performance
See your current floating profits and losses calculated in real time for each cryptocurrency held in your account. Keep track of your long-term trading results using the yield chart.
Learn more about positions and yields.
5. Withdraw funds
You can withdraw funds from your account at any moment. Withdrawals are generally automated and take just a few minutes before being published to the blockchain. Check out this article if you need any help with withdrawals.