Beginner's guide
Master Bitget Wallet and Start Trading! Your Gateway to the NewDegen 2023 On-Chain Trading Competition
Beginner
2023-10-19 | 5m
The
NewDegen 2023 On-Chain Trading Competition is now in full swing! Led by Bitget Wallet in collaboration with renowned project partners, media outlets, and influential figures in the crypto space, the NewDegen 2023 On-Chain Trading Competition is a global DeFi extravaganza.
Over the course of 30 days, participants can register on the event page and dive into trading using Bitget Swap. Participants will have the opportunity to secure a significant cash prize of 100,000 USDT, contingent on their performance metrics, including return on investment (ROI), net investment earnings, and cumulative transaction volume, which will all be captured by a snapshot upon the conclusion of the event. As an additional reward, winners will also receive the prestigious SBT Medal of Honor as a mark of distinction.
What are you waiting for? Register
here!
During the course of this exciting competition, expect in-depth guides just like this one to assist you in your search for glory!
In this article, we will be going through the fundamentals from start to finish on how you can set up your Bitget Wallet and start trading right away.
Download Bitget Wallet
To download Bitget Wallet, simply head over to the
official product website, and select your operating system (Android / iOS). Alternatively, you may also search for "Bitget Wallet" in the respective official stores to download the app.
Do be mindful to verify that the version you are downloading is a legitimate Bitget Wallet file.
Setting up your Wallet
Creating a crypto wallet has never been easier. To get your Bitget Wallet up and running, just follow the 3 easy steps below.
Step 1: Launch your newly-downloaded Bitget Wallet app, where you will be prompted to choose between importing an existing wallet, or creating a new one. If you are creating a new wallet, you may choose between securing it using a 12-word or 24-word
mnemonic phrase, depending on your security preferences. 24-word phrases are more secure, but may be more difficult to remember.
Step 2: Hit confirm and wait for your wallet to be created.
Step 3: Choose to enable notifications to keep track of the dynamic trading scene from your Bitget Wallet, and set a nickname for your wallet for easy management and identification. Alternatively, you may also opt to use an existing
DID domain name as your wallet's nickname if you have one.
Adding Tokens and Mainnets to your Home Dashboard
Now that you have successfully downloaded your Bitget Wallet, the next step would be to add token lists and mainnets to your Home dashboard. This will make it easier to receive assets and switch between mainnets during your day-to-day transactions.
To add tokens: simply tap the "+" symbol under your token display page on your home dashboard, then search for the token you wish to see displayed.
To add a mainnet: tap on the mainnet selector at the top right corner of your home dashboard, then enter the name of the mainnet in the search field.
Adding Assets to your Wallet
You may either choose to receive tokens to your Bitget Wallet if you have existing funds elsewhere (e.g other wallets or platforms), or you may choose Bitget Wallet's Quick Buy platform to
purchase crypto using fiat currency.
Receiving Tokens
Step 1: Tap on "Receive" on your home dashboard, then select the mainnet on which your receiving token is from, before selecting the token under the drop-down list. Alternatively, you may also enter the token's name in the search field to add it.
Step 2: Copy the wallet address or scan the QR code to transfer tokens from another platform to your wallet address.
On-Ramp Options
Need to add funds to your Bitget Wallet using fiat payment? Not to worry,
Bitget Wallet Quick Buy has you covered. Currently, Bitget Wallet Quick Buy allows users to purchase over 50 token types using nearly 50 fiat currency types. The platform also integrates six payment channels, including MoonPay, Alchemy Pay, Simplex, FaTPay, Banxa, and Transak, providing convenient and secure ways for users to perform their on-ramp transactions.
Step 1: Tap on "Buy" on your home dashboard, and select "
Buy crypto" to access Bitget Wallet Quick Buy.
Step 2: Proceed with the prompt, which will display one of our secure payment providers, and follow the on-screen instructions to complete your on-ramp purchase.
Bitget Wallet also provides convenient access to Bitget's
P2P crypto purchasing service. To access the service, please follow these simple steps:
Step 1: Tap on the "+" icon on your home dashboard, and select "
P2P trading", which will bring you to Bitget's P2P trading portal.
Step 2: Select your preferred P2P provider and proceed with the on-screen instructions to complete your transaction.
*Please take note that on-ramp options may not be available in certain regions.
Swap with Bitget Swap and Win Big!
Now that your funds are secured in your wallet, its finally time to start trading! Not sure where to start? Not to worry. In this section, we will be going through how you can easily view trending tokens on Bitget Wallet, the basics of performing swaps, as well as highlighting some of the important features of Bitget Swap that you can leverage to your benefit in this trading competition!
Searching for Trending Tokens
If you don't already have an existing trading plan or have any tokens in particular that you wish to start trading, simply head over to Bitget Wallet's swap interface to browse over 255,400 tokens! To assist you in your hunt for new trading opportunities, Bitget Wallet's diverse token lists provide you with just what you're searching for.
Interested in hunting for trending tokens that are currently popular amongst your fellow traders? Simply tap on the "HOT" tab. Are you someone who pays special attention to emerging and upcoming projects? Tap on the "New" tab to look up a comprehensive list of the latest and most promising projects that the Bitget Wallet team has specially curated for our users. Useful token lists that you may also opt to browse are mainnet-specific tokens, such as those from Base and Arbitrum,
Meme tokens, GameFi tokens, and many more.
Want to find out more about a specific token? Simply tap on it and enjoy a comprehensive trading display that showcases useful information such as dynamic
candlestick chart display, transaction history, token information (including total supply, 24h trading volume, and more), as well as liquidity pool flow. Utilize this information to make the best trading choices, jump on to the latest trends as quickly as possible, and execute your trades efficiently!
Performing Swaps using Bitget Swap
With Bitget Swap, trading has never been easier. Complete your trades in these 3 easy steps!
Step 1: Tap on "Swap" at the bottom of your home dashboard.
Step 2: Search for the token you wish to swap for in the search field, or browse our comprehensive token listings.
Step 3: Select "Buy" and enter the amount you wish to purchase, and tap "Confirm".
Step 4: Review your swap order, and tap "Confirm" once more to complete your transaction.
Automatic Slippage
At Bitget Wallet, we understand that trading can be challenging at times, especially when dealing with tokens with low liquidity spread and / or transaction tax. The latter is a mechanic commonly set in place by new projects to bring revenue back to the project, and prevent excessive swing trading that can have large price impacts on the project's token.
In order to overcome this,
slippage has to be set at a rate that is high enough to both pay the tax and cover the potential price impact. However, doing the actual calculations to set the ideal slippage value may be tricky for most traders, which is why Bitget Swap's automatic slippage function does it for you.
Bitget Swap automatically detects a token that has a high buy / sell tax rate, and adjusts your slippage accordingly to better ensure that your transaction succeeds at the most favourable price.
After tapping on "Confirm" on your swap transaction, you will be notified on the sell tax on the token, if it has one. You will also be notified on the status of your slippage and if adjustments are necessary. Simply tap on "Continue", and Bitget Swap will automatically adjust your slippage for you.
This key feature allows our users to perform trades more efficiently without having to worry about calculating the ideal slippage for their transaction to succeed, especially when trading tokens with buy / sell taxes.
Low Transaction Fees
Bitget Swap also boasts lower transaction fees than other mobile swap platforms. A clear example can be shown below, when drawing a comparison between Bitget Swap (Left) and Metamask (Right). When purchasing 0.01 ETH worth of $PEPE tokens, the transaction fee on Bitget Swap is set at 0.3%, as opposed to 0.875% on Metamask, almost 3x that of Bitget Swap.
Both Bitget Swap's automatic slippage function and its unique ability to serve as a cheaper avenue for performing swaps as compared to other options on the market makes it an ideal platform to perform high-speed and efficient trades, even for newer traders in the Web3 space.
Bitget Wallet NFT Market
If NFTs are more your cup of tea, you will be excited to know that Bitget Wallet has its very own
NFT marketplace that supports NFT trading across multiple chains including Ethereum, BNB Chain, Polygon, Klaytn, Arbitrum, Optimism, Heco, and Ethereum Classic. As a leading NFT aggregator, Bitget NFT Market facilitates unrestricted NFT listings from third-party platforms, eliminating restrictions and bringing more diversity for users. Bitget NFT Market is also a pioneer in enabling the purchase of NFTs using any
cryptocurrency, further enhancing overall accessibility and user experience.
Bitget NFT Market is set to streamline the overall NFT experience for all users, offering multi-chain NFT management and transactions, seamless NFT purchases, bulk-purchase capabilities, and even free minting services, making it the preferred NFT Marketplace of choice.
To access Bitget Wallet NFT Market, simply tap on "NFT" at the bottom of your home dashboard, then enter the name of the NFT series you are searching for in the search field. Alternatively, you may also browse recommended NFTs, and interact with the various features of the Bitget NFT Market using the sidebar, including viewing your NFT portfolio, selling your NFT, or mint NFTs for free.
Bitget Wallet DApp Browser
Need to take a break from your trading? Why not explore Bitget Wallet's DApp browser! Bitget Wallet's integrated DApp Browser boasts over 20,000 DApps spanning across a multitude of sectors including DeFi, GameFi, NFT, Bridge, Exchange,
Mining, Tools, Social, and Loans.
To access Bitget Wallet's DApp browser, simply tap on "DApp" at the bottom of your home dashboard, and key in the name of the DApp you are searching for in the search field.
Not sure where to start? Our "Hot Searches" spotlight showcases the latest and most trending DApps that you can try your hands on!
Closing
This concludes our comprehensive all-in-one guide on how you can begin your trading journey with Bitget Swap! What are you waiting for? Rev your engines, get set, and achieve victory in the NewDegen 2023 On-Chain Trading Competition! All the best to all participants, and remember that fortune always favours the brave.
Faster Trading, Better Assets. Bitget Wallet, Your Web3 Trading Wallet of the Future.
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