Trading LIT on Bitrue: Step-by-Step Guide
1. Account Setup and Verification
Visit the official Bitrue website and complete the registration process with your email address or phone number. You’ll need to complete KYC verification, which typically requires a government-issued ID, proof of address, and a selfie for identity verification. Ensure all documentation is clear and matches your registration details.
2. Funding Your Bitrue Account
Navigate to the Assets or Wallet section and select your deposit method. For cryptocurrency deposits, generate a deposit address for your chosen asset (e.g., USDT, BTC) and transfer funds from your external wallet. For fiat deposits, follow the instructions for supported payment methods. Always verify the network and address before completing transfers.
3. Navigating to the LIT Trading Pair
Go to the Spot or Trade section and use the search function to locate LIT. Select the trading pair, typically LIT/USDT, to access the trading interface with price charts, order books, and order placement options. Review the token’s information on lighter.xyz before trading.
4. Placing a Trade Order for LIT
Choose your order type:
- Market Order: Executes immediately at the current best available price
- Limit Order: Executes only when your specified price is reached
Enter the amount of LIT you wish to trade, review the order details, and confirm the transaction. Consider starting with smaller positions due to potential volatility in newly listed tokens.
5. Monitoring Your Position and Managing Risk
Track your orders in the Open Orders section. Once filled, your LIT tokens will appear in your spot wallet. Consider implementing risk management tools:
- Stop-Loss Orders: Automatically sell if price drops to a specified level
- Take-Profit Orders: Automatically sell when target profit is reached
Monitor market movements closely, especially during the initial listing period when volatility is typically higher.
Important Considerations
New token listings often experience heightened price volatility and may have limited liquidity, which can result in significant price spreads and slippage. Familiarize yourself with Bitrue’s trading fees, withdrawal charges, and any regional restrictions. Conduct thorough research on the Lighter project, including its technology, use cases, and fundamentals, independent of the exchange listing.
The listing of Lighter (LIT) on Bitrue provides traders with access to this digital asset. Success in cryptocurrency trading requires informed decision-making, strict risk management, and continuous market awareness. Prioritize security, understand associated costs, and only invest what you can afford to lose.
