A Step-by-Step-Guide on how to buy Nimiq (NIM)
Step 1 – Join CEX.io You will first need to purchase units of the bigger currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below for registration and receive Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. Nimiq (NIM) is available on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Exchange? (Just follow this guide) Make sure you have selected the correct coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Locate Nimiq (NIM) Once your deposit has been verified, you'll instantly have access to your finances and you can initiate buying and trading. To invest in Nimiq (NIM) on Binance, you'll want to go to the ”Exchange” tab and click on “Basic”. To spot Nimiq (NIM), you'll need to insert the short name of the asset (NIM) into the search box, which is marked in the image. Make sure you have selected the right pairing, we have marked this too. Click on “NIM/BTC” to progress.
Step 4 – Acquisition of (NIM) Nimiq Once you've located (NIM) Nimiq, you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). And now we are going to create our Limit Order. The ”Price” field will be filled with the most recent rate (NIM) Nimiq was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the quantity of NIM you like to buy. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the whole quantity of NIM. When you are glad, click on “Buy NIM”. Your order will be filled as soon as a Seller trades their NIM for the price you introduced.
Step 5 – Withdraw Nimiq (NIM) Unless you are trading, you should never keepyour coins on an Cryptocurrency Exchange for an longer period of time. To take off your Nimiq (NIM), hover over the ”Funds” tab and mouse click on “Withdraw”. Nimiq (NIM) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Nimiq (NIM) by using the given drop-down box. Drop in the amount of Nimiq (NIM) you'd like to take off. Take into account the demonstrated fees/minimums. Also make sure you have entered your right withdraw address. If you are glad, click “Submit”. You could be requested for verfication via email/phone before a withdrawal.