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 BTC (Bitcoin) or ETH (Ethereum) to an Exchange Your Ethereum or Bitcoin has to be sent over to an Exchange now. Every exchange has a deposit form that is similar. 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 Crypto Trader? (Follow this how-to) Make sure you've selected the correct coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. In the case you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Find Synthetix Network Token (SNX) As soon as your deposit has been affirmed, you will instantly have access to your funds and you can commence purchasing and trading. To invest in Synthetix Network Token (SNX) on Binance, you will want to hover over the ”Exchange” tab and then mouse click on “Basic”. In order to locate Synthetix Network Token (SNX), you'll need to put the short name of the asset (SNX) into the search-box, which is marked in the image. Make sure you have choosen the correct grouping, we've marked this also. Click on “SNX/BTC” to go ahead.
Step 4 – Buying Synthetix Network Token (SNX) As soon as you've spotted Synthetix Network Token (SNX), you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And now we're going to make our own Limit Order. The field with the “Price” tag will be automatically filled with the most latest tariff Synthetix Network Token (SNX) was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of SNX you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete quantity of SNX. If you are happy, make a mouse click on “Buy SNX”. Your order will be filled when a Seller trades their SNX for the price you introduced.
Step 5 – Withdraw Synthetix Network Token (SNX) Unless you're regularly trading, best advise is not to keep your coins on an Crypto Trader for an longer time period. 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. Drop in the amount of Synthetix Network Token (SNX) you'd like to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your right withdraw address. When you are glad, click on “Submit”. You could be requested for verfication via email/phone before a take off.