How to Trade SCLP on Scallop Exchange

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Last Updated on February 22, 2023 by Bitfinsider

If you have not seen our past articles or heard about Scallop and the SCLP token, you should definitely check it out now. Regardless, here’s a quick summary about the awesome exchange platform and its tokens for you: Scallop is a cryptocurrency that operates on the Ethereum blockchain network and is represented by the SCLP token. It was created to provide a secure and efficient means of payment for goods and services, as well as a way for people to store and transfer value seamlessly.

The SCLP token, a utility token based on the Binance Smart Chain (BSC) network. One of the unique features of Scallop is its focus on creating a fair and equitable distribution system, which aims to prevent large token holders from having undue influence over the network. Scallop also seeks to create a strong community-driven ecosystem, where users are actively engaged in the development and growth of the network. 

If you wish to learn more about Scallop exchange and the SCLP token beyond just two paragraphs, be sure to click the link here for a more in-depth coverage of the aforementioned.

Now that you know what the SCLP token is and it has caught your interest, you might be wondering about how to trade SCLP on the Scallop Exchange, right? Fret not, this article will guide you step-by-step to complete your transaction!

Step-by-Step Guide to Trade SCLP on Scallop Exchange

1) On the home page, click on “Buy Crypto”. 

2) Select your home currency and the cryptocurrency you wish to purchase, and enter the quantity. Afterwards, the system will automatically show you the exchange rate for each provider. 

3) Read and agree to the disclaimer, before clicking on “Confirm Purchase”.

4) Depending on the provider you have selected earlier, you will be brought to the respective payment page of the third-party provider. Please follow the process to complete your crypto purchase.

5) On the main page, a ‘Payment Feedback’ notification will appear as you complete the transaction on the third-party payment platform. Upon successful payment, the purchased cryptocurrency will be directly credited to the Scallop Digital Account. 

6) After you have completed the transaction with the third-party payment platform, return to the main page. Hover over to “Balances”, click on any of the sub-category e.g. Spot Account, P2P account, etc. and finally, click on “Asset Overview” to see your current crypto assets.

7) During your transaction, you might have noticed that each of the third-party providers (Alchemypay, Moonpay and Transak) gives you a different exchange rate for the same amount. These are known as “handling fees”. Please note that the handling fees change from time to time.

8) In essence, we recommend the third-party provider with the lowest handling fee, which is Alchemypay at the time of writing. This means that you will get the most value out of your bucks for the same amount. 

What is Alchemypay?

A hybrid form of payment, Alchemypay accepts both fiat money and cryptocurrencies. Flexible payments provide payment ecosystems the best of both worlds.

Some businesses only accept payments in the currency of the region.

The network of Alchemypay has instant conversion rates. As a result, whether in fiat cash or cryptocurrency, merchants make a profit. The customer base of businesses that accept bitcoin payments grows without having to worry about volatility or delays caused by blockchain networks.

Spot Trading for SCLP/USDT on Scallop Exchange

If you are interested in spot trading, you can do so on Scallop Exchange in three simple steps:

1) On the main page, hover over to “Trade” and click “Classic”.

2) You will see an interface as shown below. Although it looks overwhelming, you are only required to use the search box and the spot trading section that are highlighted in red.

3) On the search box, type “SCLP” and you will see the “SCLP/USDT” option. Simply click on it to change the current spot pair to SCLP/USDT. You may ignore this step if you are already navigating the SCLP/USDT spot pair.

4) On the left side of the spot trading section (to buy SCLP), simply input the amount SCLP you wish to trade and the total amount in USDT will appear. Click on “Buy SCLP’ to continue.

5) If you have sufficient funds, you will be taken to the transaction page and simply follow the steps to complete your purchase, if not you may wish to refer to the step-by-step guide on top to recharge some USDT.

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.