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 – Transfer Your Bitcoin or Ethereum to an Crypto Exchange Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. NEM (XEM) is available on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Exchange? (Follow this how-to) Make sure you've selected the exact coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. If you are working with a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).
Step 3 – Locate NEM (XEM) As soon as your deposit has been verified, you will instantly have access to your assets and you can begin purchasing and trading. To buy NEM (XEM) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. In order to spot NEM (XEM), you will need to put the shortname of the coin (XEM) into the search-box, which is highlighted in the image. Be certain of having choosen the correct pairing, we've highlighted this also. Click on “XEM/BTC” to continue.
Step 4 – Acquisition of NEM (XEM) Once you've spotted NEM (XEM), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). Next we are making our own Limit Order. The field with the “Price” tag will be filled automatically with the most up-to-date price NEM (XEM) was sold for. This can be changed to your desired rate. The field with the “Amount” tag is the volumen of XEM you want to buy. The ”Total” field is the total price in Bitcoin that you'll pay for the complete quantity of XEM. If you are glad, make a mouse click on “Buy XEM”. Your order will be filled as soon as a Vender trades their XEM for the price you gave.
Step 5 – Withdraw NEM (XEM) Unless you are frequently trading, best advise is not to keep your crypto coins on an Crypto Exchange for an longer time period. In order to withdraw your NEM (XEM), go to the ”Funds” tab and mouse click on “Withdraw”. NEM (XEM) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find NEM (XEM) by using the given drop-down box. Enter the amount of NEM (XEM) you'd like to withdraw. Take into account the shown minimus/fees. Also make sure you have filled your correct withdraw address. When you're happy, make a mouse click on “Submit”. You may be asked for phone/email verification before a take off.