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 – Transfer Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Synthetix Network Token (SNX) is obtainable on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow these easy steps) Make sure you've selected the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you're using a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our guide).
Step 3 – Locate Synthetix Network Token (SNX) As soon as your deposit has been affirmed, you will directly have access to your finances and you can start purchasing and trading. To buy Synthetix Network Token (SNX) on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”. In order to discover Synthetix Network Token (SNX), you will need to insert the shortname of the coin (SNX) into the search box, which is highlighted in the image. Make sure you have choosen the correct pairing, we have marked this too. Click on “SNX/BTC” to continue.
Step 4 – Purchasing Synthetix Network Token (SNX) After you've discovered Synthetix Network Token (SNX), you will be presented with a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the image). For now we're going to create our own Limit Order. The ”Price” field will be filled with the most latest rate Synthetix Network Token (SNX) was sold for. You can change this to your favoured price. The ”Amount” field is the quantity of SNX you wish to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the whole volumen of SNX. If you are happy, click on “Buy SNX”. Your plan will be filled when a Seller trades their SNX for the price you gave.
Step 5 – Withdraw Synthetix Network Token (SNX) Unless you are frequently trading, you should never keepyour coins on an Exchange for an extended time frame. In order to take off your Synthetix Network Token (SNX), hover over the tab called “Funds” and click on “Withdraw”. Synthetix Network Token (SNX) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Synthetix Network Token (SNX) by using the provided drop-down box. Enter the volumen of Synthetix Network Token (SNX) you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have entered your right withdraw address. When you are satisfied, make a mouse click on “Submit”. You may be requested for verfication via email/phone before a take off.