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 – Transfer Your Ethereum or Bitcoin to an Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Balancer (BAL) is accessible on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this manual) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow these easy steps).
Step 3 – Locate Balancer (BAL) As soon as your deposit has been approved, you'll immediately have access to your finances and you can launch invest and trading. To invest in Balancer (BAL) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. In order to find Balancer (BAL), you will need to put the cointype (BAL) into the search-box, which is highlighted in the picture. Be certain of having selected the right grouping, we have highlighted this also. Click on “BAL/BTC” to progress.
Step 4 – Purchase Balancer (BAL) After you've found Balancer (BAL), you will be presented with a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And now we're making our own Limit Order. The ”Price” field will be filled with the most recent price Balancer (BAL) was traded for. You can change this to your preferred rate. The ”Amount” field is the amount of BAL you want to buy. The field with the “Total” tag is the aggregated price in BTC that you will settle for the whole volumen of BAL. When you're satisfied, make a mouse click on “Buy BAL”. Your order will be filled as soon as a Seller sells their BAL for the price you offered.
Step 5 – Withdraw Balancer (BAL) Unless you're regularly trading, best advise is not to keep your crypto coins on an Exchange for an longer period of time. To take off your Balancer (BAL), hover over the tab called “Funds” and click on “Withdraw”. Balancer (BAL) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Balancer (BAL) by using the given drop-down box. Drop in the amount of Balancer (BAL) you'd like to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address. If you're happy, click on “Submit”. You may be requested for phone/email verification ahead of a take off.