How to withdraw money from your trading account into your bank account

Before you can withdraw money you need to confirm your banking account and personal details this could take one day, mine took 2 hours to verify.

Step 1

On the main page click on My Account, next click on Verification 

Step 2

Complete the form with all your personal details, make sure that your Residential Address and Bank Account is correct as you will have to supply them with the correct documents as proof. You do not need to enter the Nigerian part, next you can click on Submit.

Step 3

You will now receive a mail asking for the supporting documents to confirm your details.

Step 4

Once your account has been verified (could take 1 day) you can now click Withdraw on the ZAR row. Note in our example below the verification button is still red once verified the red will go away.

Step 5

Enter the amount that you would like to withdraw from your trading account and click Submit.

Step 6

Click on the Send link below, this will send you an email with a key number.

 

In the email that you received click on the Confirm Withdrawal link this will take you back to the website;

Step 7

You will now see that the Hash field is automatically filled in with your secret key code, click Confirm. This can take up to 3 days to reflect into personal bank account.

 

 

 For more help go to Help Ice3x

 

 

How to buy and sell Bitcoin, Litecoin and Ethereum

After you have deposited money into your trading account (How to make a deposit into your trading account) and it reflects in your "My balances" you can now start to trade.

Step 1

Always make sure that you are on the correct currency that you want to trade with (BTC, LTC or EPH). 

  • 1. Specify the amount of currency in our example Bitcoin that you want to buy.
  • 2. Specify the amount you want to buy the currency for. The default amount will be the biggest sell offer indicated in the image below, you can change this to the amount you are willing to pay.
  • As you type in the amounts you will see the fee and what you will get out will change depending on the amount you specify. The fees are located on the main page, most of the time it is 1%.
  • Once you are satisfied click on the Buy button, this will create a buy order where a seller can sell you their currency.

Step 2

Exactly the same process is followed when selling;

  • 1. Type in the amount of currency you want to sell
  • 2. Type in the amount you want to sell your currency for, the default amount will be the largest buy order but you can change this to the amount you are willing to sell for.
  • Once you are satisfied you can click the sell button.

 

 

 

 Next step how to withdraw money into your bank account

 

 

 For more help go to Help Ice3x

 

 

 

 

 

 

 

What is Crypto Currency?

A Crypto Currency is a digital asset designed to work as a medium of exchange that uses cryptography to secure it's transactions, to control the creation of additional units and to verify the transfer of assets. Crypto Currencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.  

 

Why should I trade Crypto Currency (Bitcoin, Litecoin and Ethereum)?

It is a volatile market but with high risk comes a high reward just like any other stock that you can buy. My example; I invested R30 000 in Litecoin when the price was low, 3 days later I sold it for R38 500 leaving me with R8 500 profit. Yes I know that R30 000 is a lot of money but you can start with R250 if you buy at a low price and sell at a higher price you can make a profit, and for me the amount of profit I made is more than any bank can give me in the same amount of time. 

In this tutorial we only work with Bitcoin, Litecoin and Ethereum.

Step 1 How to register a Trading Account on Ice Cube                                 

Step 2 How to make a deposit into your trading account to start trading

Step 3 How do I buy and sell my currency?

Step 4 How do I withdraw money from my trading account?

 

 

How to make a deposit into your trading account

After you registered Registration Process you can now start trading.

Before you trade we first need to make a deposit (EFT) from your private bank account into your trading account:

Step 1

After you have logged into your account the main trading screen will appear;

  • 1. If you can see the My Account button then you are Logged in and your registration process was successful
  • 2. On the left hand side you will see Markets, note you can only trade ZAR Markets, Which is BTC(Bitcoin), LTC(Litecoin) and ETH(Ethereum). Depending on which currency you select on this grid, it will load the specific currency data that you want to work with / trade
  • 3. Displays trading data where you can view and pick up trends and get an understanding of the price changes  

Step 2

On the main screen underneath the Trade fees, you will find My balances which displays your current balances in your trading account. To deposit Rand (ZAR) into your trading account, click on the Deposit/Withdraw button.

Step 3

On the ZAR row, click on Deposit to make a deposit into your trading account.

Step 4

First enter the amount you want to deposit into your account and press Confirm. 

Next you need to select the bank you wish to use to make a deposit to, click on the required Bank.

 Step 5

And now you will need to make an EFT deposit to the following account as displayed on your screen

  • The screen below is just an example of the layout that you can expect to see. Please use your screen details to make a payment.
  • The Beneficiary Reference is very important as they use it to link your EFT payment to credit your trading account.
  • Once you have made the EFT payment, your trading account will get credited in the next 2 - 72 hours depending which bank you use ( I was Standard bank and it took 24 hours to reflect), also note there are no fees when making a deposit. 

 Step 6

You can check your My Balances on the main page to see if your account has been credited yet, it will display in My Balances at ZAR as well as in the buy section depending in which currency you are.

 

 

 Next step How to buy and sell currency

 

 

 For more help go to Help Ice3x