A Step-by-Step-Guide on how to buy Nimiq (NIM)
Step 1 – Join Kraken In the beginning you'll need to buy one of the bigger coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below for registration and getting Ethereum or Bitcoin.
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange Your Bitcoin or Ethereum will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. Nimiq (NIM) is available on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this manual) Make sure you have chosen the precise coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etc. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our manual).
Step 3 – Find Nimiq (NIM) Once your deposit has been affirmed, you will instantly have access to your funds and you can start buying and trading. To invest in Nimiq (NIM) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to locate Nimiq (NIM), you will need to put the cointype (NIM) into the search-box, which is marked in the image. Make sure you have choosen the correct grouping, we've marked this also. Click on “NIM/BTC” to proceed.
Step 4 – Buy Nimiq (NIM) After you've spotted Nimiq (NIM), you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). Next we're going to make our own Limit Order. The field with the “Price” tag will be filled automatically with the most up-to-date price Nimiq (NIM) was traded for. You can change this to your preferred rate. The ”Amount” field is the amount of NIM you wish to purchase. The ”Total” field is the whole price in Bitcoin that you will pay for the whole amount of NIM. When you are glad, click on “Buy NIM”. Your order will be filled as soon as a Vender trades their NIM for the price you offered.
Step 5 – Withdraw Nimiq (NIM) Unless you are frequently trading, you should never keepyour crypto coins on an Crypto Trader for an extensive time period. In order to take off your Nimiq (NIM), hover over the tab called “Funds” and mouse click on “Withdraw”. Nimiq (NIM) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Nimiq (NIM) by using the given drop-down box. Enter the quantity of Nimiq (NIM) you'd like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your right withdraw address. If you're satisfied, make a mouse click on “Submit”. You may be asked for verfication via email/phone ahead of a withdrawal.
Kudos! You have successfully purchased and stored Nimiq (NIM).That's it! Withdrawals from Exchange can take between 1 – 30 minutes (rely on usage of the network). As soon as you've confirmed your withdrawal using Etherscan.io or Ethplorer.io and the (NIM) Nimiq is stored in your wallet, you are all done.
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