Before you can trade you need to deposit fiat money to your wallet(s). In this article we're going to explore the options.
Please refer to the documentation of the exchange in question. Typically you can deposit fiat using a Credit Card, bank transfer and more.
Note: There may be some restrictions imposed by the exchange based on the country you are in.
Again it's best to check the FAQ but here are some things to watch out for.
Typically you'd use the withdraw option of the exchange and you're given options to fill out the recipient crypto address (wallet) and possibly the network like Ethereum Network (erc20) or BNB Chain (bep20). It's super important to choose the right network or your money is gone for good!
If you're not experienced we urge you to first try it out with a small sum, like $1.00 and on success repeat for the intended amount.
Keep a very close eye on the fees your transaction is estimated to charge on top of the withdrawal. Ethereum is notorious for charging a large transaction fee for instance.
The save on fees, here is an idea if you're up for a bit of extra trouble.
Convert the asset you want to transfer to another asset that can be used on a cheap(er) network. Namely XRP and NEO are virtually free of fees. After the deposit has arrived you can convert it back to the intended token.
Actually all transfers are very similar as they require a recipient wallet address and a blockchain network. In this case you'd need the address copied from your wallet manager (e.g. MetaMask).
Again, try it out first with a small amount!
There are more options to fund you wallet. You can transfer assets from wallet to wallet across chains using a so-called bridge.
The ‘bridge’ enables the cryptocurrency to cross different networks using several transactions.
Exchanges handle the complexities for you but otherwise you'd need a wallet manager to connect to the website offering the service.