How to Buy Loom Network (LOOM)

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

Step 1 – Join Coinbase and get 10$ for free

You will first need to buy units of the major currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click below to register and to get your first 10 Dollar.

Coinbase Free Bitcoin

Binance Signup
Step 2 – Transmit Your Funds to an Cryptocurrency Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Loom Network (LOOM) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to)

Make sure you've selected the exact coin you wish to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you're using a decentralized exchange, like Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Find Loom Network (LOOM)

As soon as your deposit has been verified, you'll instantly have access to your finances and you can start invest and trading. To purchase Loom Network (LOOM) on Binance, you'll want to go to the ”Exchange” tab and then mouse click on “Basic”.

To discover Loom Network (LOOM), you'll need to put the shortname of the coin (LOOM) into the search-box, which is marked in the picture. Be certain of having choosen the correct pairing, we have marked this too. Click on “LOOM/BTC” to go ahead.

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

Once you've spotted (LOOM) Loom Network, you'll be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we are going to create our own Limit Order.

The ”Price” field will be filled automatically with the most up-to-date rate (LOOM) Loom Network was sold for. You can change this to your desired price. The ”Amount” field is the amount of LOOM you want to buy. The ”Total” field is the aggregated price in BTC that you'll settle for the complete amount of LOOM.

When you are happy, click on “Buy LOOM”. Your plan will be filled when a Vendor sells their LOOM for the price you offered.

Step 5 – Withdraw Loom Network (LOOM)

Unless you're trading, best advise is not to keep your crypto coins on an Crypto Exchange for an longer time period. In order to withdraw your Loom Network (LOOM), hover over the tab called “Funds” and mouse 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 given drop-down box. Enter the volumen of Loom Network (LOOM) you'd wish to withdraw. Take into account the shown minimus/fees. Also make sure you have filled your correct withdraw address.

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

Binance Withdraw

Kudos! You have successfully bought and safed (LOOM) Loom Network.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you have confirmed your take off using Etherscan.io or Ethplorer.io and the (LOOM) Loom Network is safe in your wallet, you're all done.