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 – Transmit Your ETH (Ethereum) or BTC (Bitcoin) to an Crypto 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 identical. NEM (XEM) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow this guide) Make sure you've selected the correct coin you would like to deposit. BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Find NEM (XEM) As soon as your deposit has been verified, you'll instantly have access to your finances and you can commence buying and trading. To buy NEM (XEM) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to locate NEM (XEM), you will need to put the short name of the asset (XEM) into the search-box, which is marked in the picture. Be certain of having selected the correct grouping, we've highlighted this also. Click on “XEM/BTC” to progress.
Step 4 – Acquisition of NEM (XEM) As soon as you've discovered NEM (XEM), you will be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). And now we're creating our own Limit Order. The field with the “Price” tag will be filled with the most up-to-date rate NEM (XEM) was traded for. You can change this to your favoured rate. The ”Amount” field is the amount of XEM you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole volumen of XEM. If you're satisfied, click on “Buy XEM”. Your order will be filled as soon as a Vender sells their XEM for the price you gave.
Step 5 – Withdraw NEM (XEM) Unless you're regularly trading, never keep your coins on an Crypto Exchange for an extended period of time. In order to take off 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. Drop in the quantity of NEM (XEM) you would wish to take off. Take into account the presented fees/minimums. Also make sure you have entered your precise withdraw address. When you are satisfied, click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.