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 – Transmit Your Ethereum or Bitcoin to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Synthetix Network Token (SNX) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Follow this guide) Make sure you have selected the right coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our guide).
Step 3 – Find Synthetix Network Token (SNX) As soon as your deposit has been confirmed, you will directly have access to your funds and you can initiate buying and trading. To purchase Synthetix Network Token (SNX) on Binance, you will want to go to the ”Exchange” tab and mouse click on “Basic”. In order to locate Synthetix Network Token (SNX), you will need to put the shortname of the coin (SNX) into the search-box, which is highlighted in the graphic. Be certain of having choosen the correct pairing, we've highlighted this also. Click on “SNX/BTC” to progress.
Step 4 – Purchasing Synthetix Network Token (SNX) After you've located Synthetix Network Token (SNX), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we're making our own Limit Order. The ”Price” field will be filled automatically with the most up-to-date rate Synthetix Network Token (SNX) was traded for. This can be changed to your desired price. The field with the “Amount” tag is the amount of SNX you want to purchase. The ”Total” field is the total price in Bitcoin that you will settle for the whole amount of SNX. If you're happy, make a mouse click on “Buy SNX”. Your order will be filled when a Vender trades their SNX for the price you submitted.
Step 5 – Withdraw Synthetix Network Token (SNX) Unless you are regularly trading, never keep your coins on an Crypto Exchange for an longer time frame. To take off your Synthetix Network Token (SNX), go to the tab called “Funds” and click on “Withdraw”. Synthetix Network Token (SNX) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Synthetix Network Token (SNX) by using the provided drop-down box. Enter the quantity of Synthetix Network Token (SNX) you would wish to take off. Don't forget the presented minimus/fees. Also make sure you have filled your correct withdraw address. If you are glad, make a mouse click on “Submit”. You could be asked for email/phone verification ahead of a take off.