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 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Bytecoin (BCN) is obtainable on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Just follow this manual) Make sure you have chosen the correct coin you would like to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. If you are working with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our guide).
Step 3 – Locate Bytecoin (BCN) Once your deposit has been approved, you'll directly have access to your assets and you can commence purchasing and trading. To purchase Bytecoin (BCN) on Binance, you will want to go to the ”Exchange” tab and then click on “Basic”. To locate Bytecoin (BCN), you will need to put the short name of the asset (BCN) into the search box, which is marked in the picture. Make sure you have selected the right grouping, we've marked this also. Click on “BCN/BTC” to continue.
Step 4 – Buying Bytecoin (BCN) As soon as you have found Bytecoin (BCN), you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). Next we are creating our own Limit Order. The ”Price” field will be filled with the most recent tariff Bytecoin (BCN) was sold for. You can change this to your desired rate. The ”Amount” field is the volumen of BCN you want to buy. The field with the “Total” tag is the aggregated price in BTC that you will pay for the complete amount of BCN. When you're satisfied, make a mouse click on “Buy BCN”. Your order will be filled as soon as a Vendor sells their BCN for the price you submitted.
Step 5 – Withdraw Bytecoin (BCN) Unless you're regularly trading, best advise is not to keep crypto coins on an Exchange for an extended period of time. In order to withdraw your Bytecoin (BCN), go to the tab called “Funds” and mouse click on “Withdraw”. Bytecoin (BCN) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Bytecoin (BCN) by using the given drop-down box. Drop in the quantity of Bytecoin (BCN) you would wish to take off. Don't forget the shown minimus/fees. Also make sure you have filled your precise withdraw address. When you are satisfied, click “Submit”. You could be requested for verfication via email/phone ahead of a take off.
Kudos! You've successfully bought and stored Bytecoin (BCN).That's it! Withdrawals from Crypto Exchange can take between 1 – 30 minutes (depending on network usage). Once you have proved your withdrawal using Etherscan.io or Ethplorer.io and the (BCN) Bytecoin is safe within your wallet, you are all done.
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