How to Deposit and Trade Crypto at WOO X
How to Deposit Cryptocurrency on WOO X
How to Buy Crypto with Credit/Debit Card on WOO X
Buy Crypto via Credit/Debit Card on WOO X (Web)
1. Log in to your WOO X account and click [Buy Crypto].
2. Select a fiat currency and enter the amount that you want to spend. Then select the crypto that you want to get, and the system will automatically display your corresponding crypto amount.
Here, we’re choosing USDT as an example.
3. Next, choose the payment method.
Double-check your transaction information. If everything is correct, read and tick the disclaimer, then click [Continue]. You will be redirected to the official payment webpage to continue with the purchase.
4. You will be redirected to the buying page. Choose [Credit or debit card] as your payment method and click [Continue].
5. Enter your email and review the transaction details carefully. Once confirmed, kindly proceed by clicking [Continue].
6. You will receive a 5-digit verification code in your email. Enter the code to continue the process.
7. Enter your personal information and click [Continue].
8. Select [Credit or debit card] as your payment method. Fill in the relevant information of the debit card or credit card to enter the payment process.
After that, click [Pay...] to finish the payment.
Buy Crypto via Credit/Debit Card on WOO X (App)
1. Log in to your WOO X app and click on [Buy Crypto].
2. Select a fiat currency and enter the amount that you want to spend. Then select the crypto that you want to get, and the system will automatically display your corresponding crypto amount.
Next, choose the payment method and click [Continue].
3. Press [Agree] the disclaimer to continue.
4. Review the transaction details carefully, including the amount of fiat currency you’ve spent and the corresponding digital assets received. Once confirmed, kindly proceed by clicking [Continue].
5. You will receive a 5-digit verification code in your email. Enter the code to continue.
6. Select [Credit or debit card] as your payment method. Fill in the relevant information of the debit card or credit card and enter the payment process.
After that, click [Pay...] to finish the payment.
How to Deposit Crypto on WOO X
Deposit Crypto on WOO X (Web)
1. Log in to your WOO X account and click on [Wallet].
2. Select the cryptocurrency that you want and click [Deposit]. Here, we’re using USDT as an example.
3. Next, choose the deposit network. Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from. If you select the wrong network, you will lose your funds.
Here we’re choosing TRC20 as an example.
4. Click the copy address icon or scan the QR code by click on the QR icon, to obtain the deposit address. Paste this address into the withdrawal address field on the withdrawal platform.
Follow the provided instructions on the withdrawal platform to initiate the withdrawal request.
5. If a memo/tag is required, it will show on the deposit screen. Make sure to enter the correct memo/tag on the withdrawal account/platform. Examples of tokens required a memo/tag: EOS, HBAR, XLM, XRP and TIA.
6. After you successfully deposit your funds to WOO X, you can click on [Account] - [Wallet] - [Deposit History] to find your cryptocurrency deposit record.
Deposit Crypto on WOO X (App)
1. Open the WOO X app and tap on [Deposit].
2. Select the tokens that you want to deposit. You can use the search bar to look for the tokens you want.
Here, we are using USDT as an example.
3. Select your deposit network. Click the copy address icon or scan the QR code to obtain the deposit address. Paste this address into the withdrawal address field on the withdrawal platform.
Follow the provided instructions on the withdrawal platform to initiate the withdrawal request.
4. If a memo/tag is required, it will show on the deposit screen. Make sure to enter the correct memo/tag on the withdrawal account/platform. Examples of tokens required a memo/tag: EOS, HBAR, XLM, XRP and TIA.
5. After you successfully deposit your funds to WOO X, you can go to the first page and tap on the [History] icon to find your cryptocurrency deposit record.
Frequently Asked Questions (FAQ)
What is a tag or memo, and why do I need to enter it when depositing crypto?
A tag or memo is a unique identifier assigned to each account for identifying a deposit and crediting the appropriate account. When depositing certain crypto, such as BNB, XEM, XLM, XRP, KAVA, ATOM, BAND, EOS, etc., you need to enter the respective tag or memo for it to be successfully credited.
Reasons for Unarrived Deposits
1. Multiple factors can affect the arrival of funds, including but not limited to smart contract deposit, abnormal transaction status on blockchain, blockchain congestion, failure to transfer out normally by the withdrawal platform, wrong or missing memo/tag, deposit address or the choice of the wrong chain type, suspension of deposit on target address platform, etc.2. When a withdrawal is marked as “completed” or “success” on the platform from which you’re withdrawing your crypto, it means that the transaction has been successfully broadcast to the blockchain network. However, the transaction may still require time to be fully confirmed and credited to the recipient platform. Please note that the required network confirmations vary with different blockchains. Take BTC deposits as an example:
- Your BTC deposit will be credited to your account after at least 1 network confirmation.
- After being credited, all assets in your account will be temporarily frozen. For security purposes, a minimum of 2 network confirmations are required before your BTC deposit can be unlocked on WOO X.
3. Due to possible network congestion, there might be a significant delay in processing your transaction. You may use the TXID (Transaction ID) to look up the status of the transfer of your assets from a blockchain explorer.
How to Solve This Situation?
If your deposits have not been credited to your account, you can follow these steps to resolve the issue:
1. If the transaction hasn’t been fully confirmed by the blockchain network nodes, or hasn’t reached the minimum amount of network confirmations specified by WOO X, please wait patiently for it to be processed. Once the transaction is confirmed, WOO X will credit the funds to your account.
2. If the transaction is confirmed by the blockchain but not credited to your WOO X account, you can contact WOO X support and provide them with the following information:
- UID
- Email number
- Currency name and chain type (for example: USDT-TRC20)
- Deposit amount and TXID (hash value)
- Our customer service will collect your information and transfer it to the relevant department for further processing.
3. If there is any update or resolution regarding your deposit issue, WOO X will notify you by email as soon as possible.
What Can I Do When I Deposit to A Wrong Address
1. Deposit made to an incorrect receiving/deposit address
WOO X generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, WOO X may, solely at our discretion, assist you in recovering your tokens/coins. WOO X has comprehensive procedures to help our users recover their financial losses. Please note that fully token recovery is not guaranteed. If you have encountered this sort of situation, please remember to provide the following information to us for further assistance:
- Your UID on WOO X
- Token name
- Deposit amount
- The corresponding TxID
- Wrong deposit address
- Detailed problem description
2. Deposit made to an incorrect address that doesn’t belong to WOO X.
If you have sent your tokens to an incorrect address that is not associated with WOO X, we regret to inform you that we are unable to provide any further assistance. You can try to contact the relevant parties for assistance (owner of the address or exchange/platform that the address belongs to).
Note: Please double-check the deposit token, address, amount, MEMO, etc. before making any deposits to prevent any potential loss of assets.
How to Trade Crypto at WOO X
Trade Crypto on WOO X (Web)
A spot trade is a simple transaction between a buyer and a seller to trade at the current market rate, known as the spot price. The trade takes place immediately when the order is fulfilled.Users can prepare spot trades in advance to trigger when a specific (better) spot price is reached, known as a limit order. You can make spot trades on WOO X through our trading page interface.
1. Visit our WOO X website, and log in to your account. Your first page after you log in is the trading page.
2. You will now find yourself on the trading page interface.
1. Market Price Trading volume of trading pair in 24 hours:This refers to the total volume of trading activity that has occurred within the last 24 hours for specific spot pairs (e.g., BTC/USD, ETH/BTC).
2. Candlestick chart and Technical Indicators:
Candlestick charts are graphical representations of price movements over a specific time period. They display opening, closing, and high, and low prices within the chosen timeframe, helping traders analyze price trends and patterns.
3. Asks (Sell orders) book / Bids (Buy orders) book:
The order book displays a list of all open buy and sell orders for a particular cryptocurrency pair. It shows the current market depth and helps traders gauge supply and demand levels.
4. Market Watch List:
Here, you can view and choose the trading crypto that you want.
5. Type of order:
WOO X has 6 Order Types:
- Limit Order: Set your own buying or selling price. The trade will only be executed when the market price reaches the set price. If the market price does not reach the set price, the limit order will continue to wait for execution.
- Market Order: This order type will automatically execute the trade at the current best price available in the market.
- Stop-Limit: Stop-limit orders are a combination of stop orders and limit orders. They are triggered when the market price reaches a certain level, but they are only executed at a specific price or better. This type of order is good for traders who want to have more control over the execution price of their orders.
- Stop-Market: A stop market order is a conditional order type combining both stop and market orders. Stop market orders allow traders to set up an order that will be placed only when the price of an asset reaches a stop price. This price functions as a trigger that will activate the order.
- Trailing Stop: A trailing stop order is a type of stop order that follows the market price as it moves. This means that your stop price will be adjusted automatically to maintain a certain distance from the current market price.
- OCO: OCO Orders allow traders to completely set and forget about a trade. This combination of two instructions is built so that the execution of one, cancels the other. For example, when you place a limit sell order at $40,000, and a stop market order at $23,999 - the stop loss is canceled if the limit sell is filled, and oppositely if the stop market order is triggered.
6. Buy / Sell cryptocurrency:
This is where traders can place orders to buy or sell cryptocurrencies. It typically includes options for market orders (executed immediately at the current market price) and limit orders (executed at a specified price).
7. Portfolio Section:
This section including your token, balance, mark, ... of your order.
8. Order History:
These sections allow traders to manage their orders.
9. Trading Fees and Trading Rules Section:
Here you can manage your Trading Rules and Trading Fees.
For example, we will make a [Limit order] trade to buy BTC
1. Log in to your WOO X account. Choose BTC/USDT from the market watchlist.
2. Go to the Buy/Sell Section. Select the type of order (we will use Limit Order as an example) in the "Limit Order" dropdown menu.
- Limit Order allows you to place an order to buy or sell crypto for a specific price;
- Market Order allows you to buy or sell crypto for the current real-time market price;
- Users can also utilize advanced features such as "Stop Limit", "Stop Market", "OCO" and "Trailing Stop" to make orders. Input the BTC amount you want to buy, and the expenses of USDT will be displayed accordingly.
3. Enter the price in USDT that you want to buy BTC at and the amount of BTC you want to buy. Then click [Buy/Long] to continue the process.
4. Review your order, then click [Confirm] and wait for the trade to be processed.
5. Once the market price of BTC reaches the price you set, the limit order will be completed. Check your completed transaction by scrolling down and clicking [Order History].
Trade Crypto on WOO X (App)
1. On your WOO X App, tap [Trade] on the bottom to head to the spot trading interface.
2. Here is the trading page interface.
1. Market and Trading pairs:
Spot pairs are trading pairs where transactions are settled "on the spot," meaning they are executed immediately at the current market price.
2. Real-time market candlestick chart, supported trading pairs of the cryptocurrency, “Buy Crypto” section:
Candlestick charts visually represent the price movement of a financial instrument, such as a cryptocurrency, over a specific period of time. Each candlestick typically shows the open, high, low, and close prices for that time frame, allowing traders to analyze price trends and patterns.
3. Sell/Buy Order Book:
The order book is a real-time list of buy and sell orders for a particular trading pair. It displays the quantity and price of each order, allowing traders to gauge market sentiment and liquidity.
4. Buy/Sell Cryptocurrency:
This section provides traders with the interface to place market orders, where orders are executed immediately at the current market price, or limit orders, where traders specify the price at which they want their order to be executed.
5. Porfortlio and Order Information:
This section displays the trader’s recent trading activity, including executed trades and open orders that have not yet been filled or canceled. It typically shows details such as order type, quantity, price, and time of execution.
For example, we will make a [Limit order] trade to buy BTC.
1. Log in to your WOO X app and tap on [Trade].
2. Click the [lines] menu button to show available trading pairs and choose BTC/USDT from the market watchlist.
3. Go to the Buy/Sell Section. Select the type of order (we will use Limit Order as an example) in the "Limit Order" dropdown menu.
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Limit Order allows you to place an order to buy or sell crypto for a specific price;
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Market Order allows you to buy or sell crypto for the current real-time market price;
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Users can also utilize advanced features such as "Stop Limit", "Stop Market", "OCO" and "Trailing Stop" to make orders. Input the BTC amount you want to buy, and the expenses of USDT will be displayed accordingly.
4. Review your order, then click [Confirm] and wait for the trade to be processed.
5. Once the market price of BTC reaches the price you set, the limit order will be completed. Check your completed transaction by scrolling down and clicking [Order History].
Frequently Asked Questions (FAQ)
Different Order Types in Spot Trading
1. Limit Order
A limit order refers to a user-defined order in which they specify the quantity and maximum bid or minimum ask price. The order will only be executed when the market price falls within the designated price range:
• The buy limit price must not exceed 110% of the last price.
• The sell limit price must not be 90% less than the last price.
2. Market Order
A market order refers to a user executing buy or sell orders instantly at the prevailing best market price in the current market, aiming for a swift and fast transaction.
3. Stop-Limit Order
Stop-Limit orders involve the user pre-setting the trigger price, order price, and quantity of orders. When the market price reaches the trigger price, the system will automatically execute orders based on the pre-determined order price and quantity, assisting the user in preserving profits or minimizing losses.
• The buy stop-limit price must not exceed 110% of the trigger price.
• The sell stop-limit price must not be less than 90% of the trigger price.
4. Trailing Stop Order
In the case of a significant market callback, a Trailing Stop Order will be activated and sent to the market at the current market price once the last filled price hits the specified trigger price and the required callback ratio is satisfied.
To put it simply, when executing a buy order, the last filled price must be less than or equal to the trigger price, and the callback range must be higher than or equal to the callback ratio. In this case, the buy order will be made at the market price. For a sell order, the last filled price must be higher than or equal to the trigger price, and the callback range must be higher than or equal to the callback ratio. The sell order will then be executed at the market price.
To prevent users from inadvertently placing orders that could result in avoidable losses, WOO X has implemented the following restrictions on Trailing Stop order placement:
- For a buy order, the trigger price cannot be higher than or equal to the last filled price.
- For a sell order, the trigger price cannot be less than or equal to the last filled price.
- The callback ratio limitation: it can be set within a range of 0.01% to 10%.
What Is the Difference Between Spot Trading and Traditional Fiat Trading?
In traditional fiat trading, digital assets are exchanged for fiat currencies like the RMB (CNY). For example, if you buy Bitcoin with RMB and its value increases, you can exchange it back for more RMB, and vice versa. For instance, if 1 BTC equals 30,000 RMB, you could purchase 1 BTC and sell it later when its value rises to 40,000 RMB, thus converting 1 BTC into 40,000 RMB.
However, in WOO X spot trading, BTC serves as the base currency instead of fiat currency. For instance, if 1 ETH is equivalent to 0.1 BTC, you can buy 1 ETH with 0.1 BTC. Then, if the value of ETH increases to 0.2 BTC, you can sell 1 ETH for 0.2 BTC, effectively exchanging 1 ETH for 0.2 BTC.
How to View my Spot Trading Activity
You can view your spot trading activities from the Orders and Positions panel at the bottom of the trading interface. Simply switch between the tabs to check your open order status and previously executed orders.
