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 Funds to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Loom Network (LOOM) is accessible on Binance, so we will 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 chosen the precise coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. If you're working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Locate Loom Network (LOOM)

Once your deposit has been confirmed, you'll directly have access to your finances and you can start invest and trading. To purchase Loom Network (LOOM) on Binance, you'll want to hover over the ”Exchange” tab and after that mouse click on “Basic”.

In order to spot Loom Network (LOOM), you will need to insert the shortname of the coin (LOOM) into the search box, which is highlighted in the image. Make sure you have selected the proper pairing, we've highlighted this too. Click on “LOOM/BTC” to continue.

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

Once you've spotted Loom Network (LOOM), you will be given a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). For now we're making our own Limit Order.

The ”Price” field will be filled automatically with the most up-to-date rate Loom Network (LOOM) was traded for. This can be changed to your desired rate. The ”Amount” field is the quantity of LOOM you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will pay for the complete amount of LOOM.

When you're glad, click on “Buy LOOM”. Your order will be filled as soon as a Seller trades their LOOM for the price you offered.

Step 5 – Withdraw Loom Network (LOOM)

Unless you are frequently trading, best advise is not to keep crypto on an Exchange for an extended time period. In order to take off your Loom Network (LOOM), go to the tab called “Funds” and click on “Withdraw”. Loom Network (LOOM) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Loom Network (LOOM) by using the provided drop-down box. Put into the volumen of Loom Network (LOOM) you would like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address.

If you're happy, click on “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.

Binance Withdraw

Congrats! You've successfully bought and safed Loom Network (LOOM).

That's it!

Withdrawals from Crypto Exchange can take between 1 – 30 minutes (depending on network usage). Once you have proved your take off with Ethplorer.io or Etherscan.io and the (LOOM) Loom Network is stored inside your wallet, you are done.

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