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 Bitcoin (BTC) or Ethereum (ETH) to an Crypto Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. Nimiq (NIM) is accessible on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide) Make sure you've chosen the precise coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our manual).
Step 3 – Locate Nimiq (NIM) As soon as your deposit has been verified, you'll instantly have access to your finances and you can begin invest and trading. To purchase Nimiq (NIM) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. To locate Nimiq (NIM), you will need to insert the shortname of the coin (NIM) into the search box, which is marked in the graphic. Make sure you have choosen the right grouping, we have marked this also. Click on “NIM/BTC” to progress.
Step 4 – Purchasing Nimiq (NIM) As soon as you've located Nimiq (NIM), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). Next we're creating our own Limit Order. The field with the “Price” tag will be filled automatically with the most latest rate Nimiq (NIM) was traded for. You can change this to your desired rate. The ”Amount” field is the volumen of NIM you like to buy. The ”Total” field is the total price in Bitcoin that you will pay for the whole quantity of NIM. If you are happy, make a mouse click on “Buy NIM”. Your plan will be filled as soon as a Vendor trades their NIM for the price you submitted.
Step 5 – Withdraw Nimiq (NIM) Unless you're regularly trading, best advise is not to keep coins on an Crypto Trader for an extended time period. To take off your Nimiq (NIM), go to the ”Funds” tab 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 provided drop-down box. Drop in the quantity of Nimiq (NIM) you would like to withdraw. Take into account the displayed fees/minimums. Also make sure you have entered your correct withdraw address. If you're happy, click on “Submit”. You could be requested for verfication via phone/email ahead of a take off.
Congratulations! You've successfully bought and stored Nimiq (NIM).That's it! Withdrawals from Exchange can durate between 1 – 30 minutes (rely on network usage). As soon as you have confirmed your take off using Ethplorer.io or Etherscan.io and the (NIM) Nimiq is stored inside your wallet, you're done.
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