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 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Cryptocurrency Exchange Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. Bytecoin (BCN) is available on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow these easy steps) Make sure you have selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you are using a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Locate Bytecoin (BCN) Once your deposit has been approved, you'll directly have access to your funds and you can launch buying and trading. To buy Bytecoin (BCN) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. In order to locate Bytecoin (BCN), you will need to insert the short name of the asset (BCN) into the search-box, which is highlighted in the graphic. Make sure you have selected the correct pairing, we've highlighted this also. Click on “BCN/BTC” to proceed.
Step 4 – Buying Bytecoin (BCN) After you have found Bytecoin (BCN), you will be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). For now we're going to make our own Limit Order. The ”Price” field will be filled automatically with the most latest rate Bytecoin (BCN) was sold for. You can change this to your favoured rate. The ”Amount” field is the quantity of BCN you want to purchase. The ”Total” field is the total price in BTC that you will pay for the whole quantity of BCN. If you are happy, click on “Buy BCN”. Your order will be filled when a Vendor sells their BCN for the price you submitted.
Step 5 – Withdraw Bytecoin (BCN) Unless you're regularly trading, you should never keepyour crypto on an Crypto Exchange for an longer time period. To take off your Bytecoin (BCN), go to the ”Funds” tab and click on “Withdraw”. Bytecoin (BCN) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bytecoin (BCN) by using the given drop-down box. Enter the volumen of Bytecoin (BCN) you'd like to take off. Don't forget the presented minimus/fees. Also make sure you have entered your precise withdraw address. When you are satisfied, make a mouse click on “Submit”. You may be asked for phone/email verification ahead of a withdrawal.