How to Buy Synthetix Network Token (SNX)

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).

Binance Signup
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Synthetix Network Token (SNX) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Exchange? (Just follow this guide)

Make sure you have selected the exact coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow these easy steps).

Step 3 – Locate Synthetix Network Token (SNX)

Once your deposit has been verified, you'll instantly have access to your funds and you can initiate invest and trading. To purchase Synthetix Network Token (SNX) on Binance, you'll want to hover over the ”Exchange” tab and after that mouse click on “Basic”.

To spot Synthetix Network Token (SNX), you will need to insert the short name of the asset (SNX) into the search-box, which is marked in the image. Be certain of having selected the proper grouping, we have highlighted this also. Click on “SNX/BTC” to progress.

Binance Hot To Buy Synthetix Network Token (SNX)
Binance How to Buy (SNX) Synthetix Network Token
Step 4 – Purchase Synthetix Network Token (SNX)

As soon as you've discovered Synthetix Network Token (SNX), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). And now we're going to create our own Limit Order.

The field with the “Price” tag will be filled automatically with the most latest rate Synthetix Network Token (SNX) was traded for. You can change this to your desired rate. The field with the “Amount” tag is the volumen of SNX you wish to purchase. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the complete quantity of SNX.

When you are satisfied, make a mouse click on “Buy SNX”. Your plan will be filled when a Vender trades their SNX for the price you offered.

Step 5 – Withdraw Synthetix Network Token (SNX)

Unless you're frequently trading, best advise is not to keep your crypto on an Crypto Exchange for an longer period of time. To take off your Synthetix Network Token (SNX), hover over the tab called “Funds” and mouse click on “Withdraw”. Synthetix Network Token (SNX) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Synthetix Network Token (SNX) by using the given drop-down box. Drop in the volumen of Synthetix Network Token (SNX) you would wish to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address.

When you're glad, make a mouse click on “Submit”. You could be asked for phone/email verification ahead of a take off.

Binance Withdraw

Congrats! You have successfully bought and stored Synthetix Network Token (SNX).

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (rely on network usage). Once you have proved your take off using Etherscan.io or Ethplorer.io and the (SNX) Synthetix Network Token is safe inside your wallet, you are done.

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