A Step-by-Step-Guide on how to buy NEM (XEM)
Step 1 – Signup to Kraken In the beginning you'll need to purchase one of the bigger coins. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click below to register and to get Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your Funds to an Crypto Trader Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is identical. NEM (XEM) 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 Crypto Exchange? (Follow this how-to) Make sure you've selected the exact coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're using a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our manual).
Step 3 – Find NEM (XEM) Once your deposit has been confirmed, you will directly have access to your assets and you can launch buying and trading. To buy NEM (XEM) on Binance, you will want to go to the ”Exchange” tab and then click on “Basic”. To locate NEM (XEM), you'll need to insert the cointype (XEM) into the search-box, which is marked in the picture. Make sure you have choosen the proper grouping, we have marked this also. Click on “XEM/BTC” to proceed.
Step 4 – Acquisition of NEM (XEM) After you have located NEM (XEM), you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). For now we're creating our own Limit Order. The ”Price” field will be filled automatically with the most recent tariff NEM (XEM) was sold for. This can be changed to your preferred rate. The ”Amount” field is the quantity of XEM you want to buy. The field with the “Total” tag is the total price in Bitcoin that you will settle for the whole amount of XEM. If you are happy, click on “Buy XEM”. Your plan will be filled when a Seller sells their XEM for the price you gave.
Step 5 – Withdraw NEM (XEM) Unless you are frequently trading, best advise is not to keep crypto on an Cryptocurrency Exchange for an extensive time period. To take off your NEM (XEM), hover over the tab called “Funds” and click on “Withdraw”. NEM (XEM) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate NEM (XEM) by using the provided drop-down box. Drop in the quantity of NEM (XEM) you would wish to withdraw. Take into account the displayed fees/minimums. Also make sure you have filled your precise withdraw address. When you are happy, click on “Submit”. You could be asked for verfication via phone/email before a withdrawal.