A Step-by-Step-Guide on how to buy Balancer (BAL)
Step 1 – Signup to Kraken You'll first need to buy one of the major coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for Altcoins. Click below to register and to get Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your Ethereum or Bitcoin to an Exchange Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Balancer (BAL) is available on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Just follow this manual) Make sure you've chosen the right coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. If you are working with a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).
Step 3 – Locate Balancer (BAL) Once your deposit has been approved, you will directly have access to your assets and you can launch purchasing and trading. To invest in Balancer (BAL) on Binance, you will want to hover over the ”Exchange” tab and then mouse click on “Basic”. To locate Balancer (BAL), you will need to insert the cointype (BAL) into the search-box, which is highlighted in the image. Be certain of having selected the correct grouping, we have marked this too. Click on “BAL/BTC” to proceed.
Step 4 – Purchasing Balancer (BAL) As soon as you have located Balancer (BAL), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). And now we are going to create our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest tariff Balancer (BAL) was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of BAL you like to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete volumen of BAL. When you are satisfied, make a mouse click on “Buy BAL”. Your order will be filled when a Seller sells their BAL for the price you gave.
Step 5 – Withdraw Balancer (BAL) Unless you are frequently trading, you should never keepyour crypto coins on an Crypto Exchange for an extensive time frame. In order to take off your Balancer (BAL), go to the tab called “Funds” and click on “Withdraw”. Balancer (BAL) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Balancer (BAL) by using the given drop-down box. Enter the volumen of Balancer (BAL) you'd like to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your correct withdraw address. If you're happy, click on “Submit”. You could be requested for verfication via phone/email ahead of a take off.