How to Buy Loom Network (LOOM)

A Step-by-Step-Guide on how to buy Loom Network (LOOM)

Step 1 – Signup to Kraken

You will first need to buy one of the major coins. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below for registration and receive BTC (Bitcoin) or ETH (Ethereum).

Binance Signup
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Loom Network (LOOM) is available on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow these easy steps)

Make sure you have selected the precise coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Find Loom Network (LOOM)

As soon as your deposit has been verified, you will directly have access to your assets and you can launch purchasing and trading. To buy Loom Network (LOOM) on Binance, you will want to go to the ”Exchange” tab and then mouse click on “Basic”.

In order to spot Loom Network (LOOM), you will need to put the shortname of the coin (LOOM) into the search box, which is marked in the graphic. Be certain of having choosen the proper grouping, we've highlighted this too. Click on “LOOM/BTC” to advance.

Binance Hot To Buy Loom Network (LOOM)
Binance How to Buy (LOOM) Loom Network
Step 4 – Buying Loom Network (LOOM)

After you've located Loom Network (LOOM), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). Next we are creating our own Limit Order.

The ”Price” field will be automatically filled with the most recent tariff Loom Network (LOOM) was sold for. You can change this to your favoured rate. The ”Amount” field is the volumen of LOOM you like to buy. The field with the “Total” tag is the total price in Bitcoin that you will pay for the complete amount of LOOM.

If you are happy, make a mouse click on “Buy LOOM”. Your order will be filled when a Seller trades their LOOM for the price you gave.

Step 5 – Withdraw Loom Network (LOOM)

Unless you are regularly trading, you should never keepyour crypto coins on an Cryptocurrency Exchange for an extensive time period. In order to withdraw your Loom Network (LOOM), go to the tab called “Funds” and mouse click on “Withdraw”. Loom Network (LOOM) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Loom Network (LOOM) by using the given drop-down box. Put into the quantity of Loom Network (LOOM) you'd like to take off. Take into account the presented fees/minimums. Also make sure you have filled your correct withdraw address.

When you are glad, make a mouse click on “Submit”. You may be asked for verfication via phone/email ahead of a withdrawal.

Binance Withdraw

Kudos! You've successfully bought and stored Loom Network (LOOM).

That's it!

Withdrawals from Crypto Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). As soon as you have confirmed your take off using Ethplorer.io or Etherscan.io and the (LOOM) Loom Network is safe within your wallet, you are all done.

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