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).

Step 2 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Loom Network (LOOM) is accessible on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Crypto Trader? (Follow this how-to)

Make sure you've selected the correct coin you would like to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etc. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Follow these easy steps).

Step 3 – Find Loom Network (LOOM)

Once your deposit has been confirmed, you will now have access to your assets and you can begin invest and trading. To purchase Loom Network (LOOM) on Binance, you'll want to hover over the ”Exchange” tab and then mouse click on “Basic”.

In order to locate Loom Network (LOOM), you will need to insert the shortname of the coin (LOOM) into the search-box, which is marked in the graphic. Be certain of having selected the correct grouping, we've marked this too. Click on “LOOM/BTC” to continue.

Step 4 – Purchasing Loom Network (LOOM)

As soon as 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 going to make our own Limit Order.

The ”Price” field will be filled with the most recent price Loom Network (LOOM) was traded for. This can be changed to your desired rate. The ”Amount” field is the quantity of LOOM you want to buy. The field with the “Total” tag is the total price in BTC that you'll pay for the complete quantity of LOOM.

If you are glad, make a mouse click on “Buy LOOM”. Your plan will be filled when a Seller sells their LOOM for the price you introduced.

Step 5 – Withdraw Loom Network (LOOM)

Unless you're regularly trading, never keep your crypto on an Crypto Trader for an extensive time period. To take off your Loom Network (LOOM), go to the ”Funds” tab and click on “Withdraw”. Loom Network (LOOM) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Loom Network (LOOM) by using the provided drop-down box. Drop in the quantity of Loom Network (LOOM) you would like to withdraw. Take into account the presented fees/minimums. Also make sure you have filled your right withdraw address.

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