A Step-by-Step-Guide on how to buy Synthetix Network Token (SNX)
Step 1 – Signup to Kraken In the beginning you'll need to purchase units of the bigger currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click the button below for registration and getting ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Send Your Bitcoin or Ethereum to an Exchange Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is identical. Synthetix Network Token (SNX) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this how-to) Make sure you have selected the exact coin you would like to deposit. BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).
Step 3 – Find Synthetix Network Token (SNX) Once your deposit has been confirmed, you'll instantly have access to your funds and you can start purchasing and trading. To buy Synthetix Network Token (SNX) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”. To discover Synthetix Network Token (SNX), you'll need to insert the short name of the asset (SNX) into the search box, which is marked in the graphic. Make sure you have choosen the right grouping, we have marked this too. Click on “SNX/BTC” to progress.
Step 4 – Acquisition of Synthetix Network Token (SNX) As soon as you have spotted Synthetix Network Token (SNX), you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). And now we are making our own Limit Order. The field with the “Price” tag will be filled with the most up-to-date rate Synthetix Network Token (SNX) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the amount of SNX you wish to buy. The field with the “Total” tag is the whole price in BTC that you will pay for the complete amount of SNX. If you're happy, click on “Buy SNX”. Your order will be filled as soon as a Vender trades their SNX for the price you introduced.
Step 5 – Withdraw Synthetix Network Token (SNX) Unless you're regularly trading, you should never keepyour crypto on an Crypto Trader for an longer time frame. In order to withdraw your Synthetix Network Token (SNX), go to the tab called “Funds” and mouse click on “Withdraw”. Synthetix Network Token (SNX) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Synthetix Network Token (SNX) by using the provided drop-down box. Put into the quantity of Synthetix Network Token (SNX) you would wish to take off. Don't forget the shown minimus/fees. Also make sure you have entered your correct withdraw address. If you are glad, make a mouse click on “Submit”. You may be requested for verfication via phone/email ahead of a withdrawal.
Congratulations! You have successfully bought and stored Synthetix Network Token (SNX).That's it! Withdrawals from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you've proved your withdrawal with Etherscan.io or Ethplorer.io and the (SNX) Synthetix Network Token is safe inside your wallet, you are done.
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