This currently includes a temporary minimum account equity of $10,000 USD. New accounts cannot trade until they reach this amount.
To access deposits and withdrawals from Fiat, users must agree to a verification process that can take up to 6-8 weeks. After checking all the required boxes, you can create an account.
Step 1: Registration
You can create an account by following the signup process and entering your username, email address, and password. You will also need to enter your time zone and a unique captcha text.
Step 2: Deposit
Once this is done, you can start depositing money into your account. To do this, you first need to look for the “Deposit” button in the upper right corner.
Clicking on this button will take you to the deposit page. Here you can select US dollars, tether or a list of cryptocurrencies to make deposits.
You already had to specify a private wallet when making a deposit, however, the website caches all purchased currencies for you.
Step 3: Trade and withdraw
As soon as your account has been funded, you can click on the “Trade” button and select your preferred currency pair. From here, you will be able to determine the quantity, price, and type of order you would like to make.
Of course, you can cash out on your Coins. However, cashing out Coins is not free for all digital currencies. For some cryptocurrencies mine has to pay a predetermined amount.
Alternative: selling assets on Tesla Coin
Selling works the same way as buying. Man sets his currencies and confirms that offer. All open orders and sales are displayed under “Open Orders”.
Tesla Coin Experience: Features & Specialties
Tesla Coin offers its clients a variety of trading options:
- Exchange Trading: deposit, exchange, and withdrawal of a variety of cryptocurrencies is allowed
- Margin Trading: one can trade with a leverage of up to 5x; margin funding and peer-to-peer funding are available
- Over the Counter Market (OTC): Tesla Coin offers a private OTC market for large transactions directly with another investor
- Also, a special feature is that you can design your trading platform the way you like it, customizing it to your preferences.