Original Post
Writing compelling advertisements on Bitania brings quality trades and establishes your credibility as a trader.
As a maker, your advertisement serves as your storefront; it informs prospective takers of your offering, terms, and reliability.
Deciding Which Digital Asset To Use
The first step is to determine what crypto asset you want to trade with: Monero (XMR), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), or Tether (USDT).
Also, you should look into the trading volume (supply), potential buyer demand, and the versatility of your preferred payment medium.
While you can create advertisements for all of these cryptocurrencies, Monero continues to be very popular on Bitania due to privacy-minded users. Bitcoin and Ethereum tend to attract wider audiences and larger transactions.
Deciding Your Exchange Rate
Your exchange rate allows you to be both competitive and profitable. Research current cryptocurrency exchange rates using price trackers, then build in your desired mark-up.
Consider pricing factors such as the payment method and associated risks (e.g., reversible payments may justify a larger mark-up).
Bitania offers dynamic pricing formulas that adjust to market fluctuations, as well as the option to set a fixed rate.
Competitive pricing attracts more buyers, while a higher mark-up increases profit per trade.
Defining Trade Limits
Determine a minimum and maximum trade amount that reflects your available cryptocurrency, desired trade sizes, and acceptable risk level.
Minimum limits filter out trades that are too small to be worth your time. Maximum limits help you avoid overexposure in a single transaction.
Consider these limits in relation to payment methods, factoring in verification difficulty and the risk of reversal.
Selecting Payment Methods
Pick payment methods where you can receive and verify payments with ease. The most common methods are bank transfers, online payment services, cash deposits, and mobile money.
You can accept multiple payment methods in a single advertisement or create separate ads for each method.
Include exact requirements (e.g., bank name, specific online service, account type) to avoid payments you cannot accept.
Writing Clear Advertisement Terms
The terms section of your advertisement is crucial for setting expectations and protecting yourself.
Clearly state the time limit for payment, the proof of payment you require, any identification needed, and your expected response time.
Define any trading conditions, such as your hours of availability, geographic parameters, or minimum buyer reputation.
Describe your process for receiving and verifying payment, and specify what information you need from the buyer before releasing cryptocurrency.
Establishing Geographic Restrictions
Make your advertisement available only to countries or regions where you can reliably receive and verify payments.
This limits complications from banking system incompatibility, time zone differences, and language barriers.
You can create separate advertisements for different regions, tailoring payment methods and terms to each area.
Writing Your Advertisement Description
Compose a professional, inviting description that explains your trading process, establishes reliability, and encourages quality takers.
Disclose your typical response time and verification duration. Mention any special requirements (e.g., minimum/maximum amounts).
Avoid unnecessary jargon. A well-written description builds trust and attracts traders who read advertisements thoroughly.
Enabling Arbitration Bond Protection
Always enable arbitration bond protection on your advertisements. This is the default on Bitania, but verify it is active.
This feature locks your cryptocurrency in escrow when a trade starts, preventing fraudulent transactions by either party.
It is essential for building trust with takers and upholding the security standards of the Bitania platform.
Managing Your Advertisement
Once published, monitor your advertisement and respond to trade requests promptly.
Communicate clearly with takers and maintain an adequate supply of cryptocurrency to fulfill trades.
Pause your advertisement when unavailable to avoid missed trades or negative feedback.
Update rates, terms, and limits as needed based on market conditions and your trading experience.