A Step-by-Step-Guide on how to buy Namecoin (NMC)
Step 1 – Signup to Kraken You'll first need to purchase units of the top-tier currencies. Exchanges normally accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Follow the Link below to register and getting Funds.
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto Exchange Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Namecoin (NMC) is available on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow these easy steps) Make sure you've selected the exact coin you wish to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. If you are using a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our guide).
Step 3 – Locate Namecoin (NMC) Once your deposit has been approved, you will instantly have access to your funds and you can commence purchasing and trading. To invest in Namecoin (NMC) on Binance, you will want to go to the ”Exchange” tab and then mouse click on “Basic”. In order to spot Namecoin (NMC), you will need to put the cointype (NMC) into the search box, which is highlighted in the picture. Be certain of having selected the proper pairing, we've highlighted this too. Click on “NMC/BTC” to go ahead.
Step 4 – Buying Namecoin (NMC) After you have spotted Namecoin (NMC), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). For now we're creating our own Limit Order. The field with the “Price” tag will be filled with the latest valuation Namecoin (NMC) was sold for. You can change this to your preferred price. The ”Amount” field is the quantity of NMC you want to buy. The ”Total” field is the total price in BTC that you will pay for the whole quantity of NMC. When you are satisfied, click on “Buy NMC”. Your order will be filled when a Vendor trades their NMC for the price you submitted.
Step 5 – Withdraw Namecoin (NMC) Unless you are regularly trading, best advise is not to keep coins on an Crypto Exchange for an extended time period. To take off your Namecoin (NMC), go to the ”Funds” tab and click on “Withdraw”. Namecoin (NMC) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Namecoin (NMC) by using the given drop-down box. Put into the quantity of Namecoin (NMC) you'd wish to take off. Don't forget the presented minimus/fees. Also make sure you have entered your right withdraw address. If you are satisfied, make a mouse click on “Submit”. You may be requested for verfication via phone/email before a withdrawal.