How to Buy Maker (MKR)

A Step-by-Step-Guide on how to buy Maker (MKR)

Step 1 – Signup to Kraken

You will first need to buy one of the top-tier coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below to register and receive Bitcoin (BTC) or Ethereum (ETH).

Binance Signup
Step 2 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange

Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Maker (MKR) 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? (Just follow this guide)

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

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etcetera. In the case you're using a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Locate Maker (MKR)

Once your deposit has been approved, you'll instantly have access to your assets and you can start purchasing and trading. To purchase Maker (MKR) on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”.

In order to discover Maker (MKR), you'll need to insert the cointype (MKR) into the search-box, which is highlighted in the picture. Make sure you have choosen the proper pairing, we have marked this also. Click on “MKR/BTC” to go on.

Binance Hot To Buy Maker (MKR)
Binance How to Buy (MKR) Maker
Step 4 – Buy Maker (MKR)

As soon as you've found Maker (MKR), you will be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). For now we are going to make our own Limit Order.

The field with the “Price” tag will be automatically filled with the most up-to-date valuation Maker (MKR) was traded for. This can be changed to your desired price. The ”Amount” field is the amount of MKR you wish to buy. The ”Total” field is the total price in BTC that you will settle for the whole volumen of MKR.

When you're glad, make a mouse click on “Buy MKR”. Your plan will be filled as soon as a Vender sells their MKR for the price you gave.

Step 5 – Withdraw Maker (MKR)

Unless you're frequently trading, best advise is not to keep your coins on an Crypto Exchange for an extensive time frame. In order to withdraw your Maker (MKR), go to the ”Funds” tab and click on “Withdraw”. Maker (MKR) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Maker (MKR) by using the provided drop-down box. Enter the quantity of Maker (MKR) you would wish to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address.

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

Binance Withdraw

Congrats! You've successfully bought and stored Maker (MKR).

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you've proved your take off with Etherscan.io or Ethplorer.io and the (MKR) Maker is safe inside your wallet, you are done.

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