A Step-by-Step-Guide on how to buy Bytecoin (BCN)
Step 1 – Join Kraken In the beginning you'll need to purchase one of the bigger coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for Altcoins. Click below to register and to get BTC (Bitcoin) or ETH (Ethereum).
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Bytecoin (BCN) is accessible on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this how-to) Make sure you've selected the correct coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. If you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).
Step 3 – Locate Bytecoin (BCN) As soon as your deposit has been confirmed, you will immediately have access to your funds and you can initiate purchasing and trading. To buy Bytecoin (BCN) on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”. In order to discover Bytecoin (BCN), you'll need to insert the cointype (BCN) into the search-box, which is marked in the image. Make sure you have selected the correct pairing, we've highlighted this too. Click on “BCN/BTC” to advance.
Step 4 – Purchasing Bytecoin (BCN) Once you've discovered Bytecoin (BCN), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). Next we are going to create our own Limit Order. The field with the “Price” tag will be filled automatically with the most latest valuation Bytecoin (BCN) was traded for. You can change this to your favoured rate. The ”Amount” field is the amount of BCN you want to purchase. The ”Total” field is the whole price in BTC that you will settle for the complete quantity of BCN. When you are glad, make a mouse click on “Buy BCN”. Your order will be filled when a Vendor trades their BCN for the price you submitted.
Step 5 – Withdraw Bytecoin (BCN) Unless you are regularly trading, never keep your crypto on an Crypto Exchange for an extended time frame. To take off your Bytecoin (BCN), hover over the tab called “Funds” and click on “Withdraw”. Bytecoin (BCN) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bytecoin (BCN) by using the provided drop-down box. Enter the volumen of Bytecoin (BCN) you'd wish to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address. When you are glad, click on “Submit”. You may be asked for phone/email verification before a withdrawal.