Getting started at Sparrow — Part 2: Topping up your account
For those who have successfully registered an account and passed user verification, congratulations! You’re just a few steps away from making your first trade. Let’s start with topping up your account.
What you need to trade Sparrow Options
To buy options
- Get SP$ from ConvertNOW facility to buy options and pay for transaction fees
To sell options
- Sparrow Options are fully covered. Deposit digital assets to pledge them as collateral
- Sell call: Pledge the asset you are trading — Bitcoin or Ethereum
- Sell put: Pledge SP$
You can top up your account according to your trading needs. Here’s how.
Topping up your digital assets
After logging in to Sparrow, click on “Funds”, then click on “Deposit” in the drop down menu
Click on the “Deposit” navigation at the top left corner to choose the assets you would like to deposit
Click “Generate Address” to get your deposit address to deposit your tokens in
- Tokens will be deposited after 3 network confirmations — progress can be tracked at the “Pending deposit” section at the bottom of the page
Converting your digital assets
To start converting tokens, click on “ConvertNOW” tab
Choose your preferred assets to convert at the left side of ConvertNOW Facility
- Convert your assets to SP$ to buy options, sell put options and pay for transaction fees
- Convert your assets to SPO to enjoy a 50% discount on transaction fees
Input the amount you would like to convert and click “Go” to get a real time quotation
- Note: quotation will expire in 4 seconds, click “ConvertNow” to confirm your order. If you wish to cancel the order, click “Cancel”
Why choose ConvertNOW Facility (CNF)?
CNF offer the most competitive prices where you can trade BTC or ETH with stablecoins instantly at the best rates, with no hidden fees. Large sizes are no issue. The larger your trade, the better the price. CNF currently supports over 25 trading pairs.
You are now ready to make your first trade! Stay tuned for our next article for a step-by-step guide on making your first trade.