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BITCOIN BREAKS OUT! IS BTC PRICE NEARING A BIG MOVE?

VIDEO TRANSCRIPT

And welcome back to the mangrove everybody My name is Krisha. And well in this video I’m going to show you how to deposit margin into your margin wallet on the Finance exchange. Now. I’m going to go over the series assuming that you know the basics of margin trading guys. OK, basics. And for those of you who do not know how to open your margin account on the Finance exchange I did another video before this I’m going to include a link above basically showing you how to open up your margin account on the Finance exchange. Now once again this is assuming that you at least know the bare-bones basics of margin trading. So let’s get on with it. Now, as soon as you log on to your by Nan’s account you’re going to be presented with your dashboard. And well what’s the action that we want to perform here. We want to deposit margin into our margin trading account. So I immediately intuitively I just kind of just pan on over to my wallet in which I am presented with my balance. Now if you notice there are four options on top of you here. This exchange margin futures and lending now for the sake of this video we’re just going to stick to exchange in March margin what must be noted here guys is that these are two different wallets. The exchange wallet is one wallet. And the margin wallet is another wallet. OK. There are two different wallets and they’re independent of each other. Now if you go onto the exchange wallet which is your main wallet everything in this wallet is what is yours. That’s how you can differentiate between the two. Everything in your exchange wallet is what is yours. OK in all these coins whatever you have a bounce in any of these cryptocurrencies it is yours to keep to do with what you want to do with it. Right. And if you pan on over to your margin in the margin account it’s everything that’s yours plus what you borrowed and what you borrowed. You must payback. Right. So that’s how you differentiate to wallets. OK. We’re dealing with two wallets the exchange everything that’s yours. That’s your main wallet and then your margin wallet which is what is yours and what you borrowed and what you borrowed. You got to give back. All right. So now that we can differentiate between the two wallets what is the next action that we want to perform we want to deposit some margin into our margin wallet. You first essentially have to put it into your main wallet your exchange wallet what is in this wallet is everything that’s yours. And the way you do that is well going on to your exchange wallet and say you want to deposit a bit of BTC. What are the reactions that you have here you have deposit withdraw and trade? We want to deposit. As soon as you hit that you are given your bitcoin address for the finance exchange. You essentially send your bitcoins at this address. Guys this is super basic stuff. So yeah you essentially send your bitcoins at this address. Now when it gets to this address. It does not mean. That it automatically gets into your margin. No. This is all men. These are all manual actions that you will have to perform right if you want to send it in as margin you. Then after getting your bitcoin on this address which is your main wallet you then. So that is the exchange wallet you then have to go into your margin wallet and. Transfer what you received on your exchange wallet to your margin wallet. That is the only way you can deposit. That’s the only way you can use it as margin. That action needs to be there. It is a manual action the two wallets the exchange wallet and the margin wallet are independent of each other. Now what must be noted in case some of you are wondering if you get liquidated on any of your margin trades. It does not affect your main account which is this account right here which is your exchange wallet. It does not affect your exchange wallet. What is in this wallet remains intact. Like I said your exchange wallet is independent of your margin wallet. So the three options are three actions that I can perform on my margin wallet is transfer borrow slash repay and trade. I want to transfer. So the only thing that is presented to me over here is from exchange wallet to Martin wallet and vice versa. If you hit that button in the middle it basically changes it. Right. So that is a way to. So essentially have to think of this intuitively. That is a deposit action and a withdraw action right. So if you just do it default the default selection is from exchange wallet to margin wallet. That is the deposit where we’re depositing into the margin wallet because we need margin. And then if you click that button it is from margin wallet to exchange wallet that is the withdraw action where you’re withdrawing from your margin wallet right now. This is the only way we can do it. This is the only way that by now sort of presented us with this is the only way we can deposit margin into our margin wallet. So for the sake of this example, I want to do it from exchange wallet to margin wallet. That’s the only option I have. So I have bitcoin in my exchange wallet so I have bitcoin selected. This is a drop-down menu so if you hit the drop-down menu you’ll be presented with well a series of cryptocurrencies that by an ounce does exchange as margin if you want to put up another cryptocurrency as collateral you are able to do so right. But as long as it’s within this list as long as it’s within this list. So I have bitcoin I want to put a bit of Bitcoin and yeah I’m going to go ahead and say I’ll put another point 0 0 1 loop. You can firm transfer remember from exchange wallet to margin wallet. This is the only way I can deposit guys this is the only way I can deposit I’m to say confirm the transfer. Now if you notice as soon as I did that my balance has gone from point 0012.002. And that is essentially how you deposit funds into the finance exchange. And yet that’s essentially it. So like I said. From exchange to margin are you depositing for a margin to exchange is you withdrawing the funds from the margin wallet that’s set for depositing and withdrawing funds from the margin account. On the finance exchange. Now if you have any more questions just kind of hit me up on telegram and I will include a link to that in the description below. So yeah that’s it for this video. Like I said I’m going to try and keep these videos short easy to navigate in my next video I’m going to show you how to trade with margin. When I say good to show you how to trade with margin essentially how to put up a trade using the margin that you receive because unlike other exchanges BNP by Nan sorry it’s different. So we’ll walk through it together in the next video with that guys. Charles.

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