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 or Ethereum to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency 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 Coinbase funds to an Crypto Exchange? (Just follow this how-to) Make sure you've selected the exact coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you are using a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).
Step 3 – Find Nimiq (NIM) Once your deposit has been verified, you'll now have access to your funds and you can start invest and trading. To invest in Nimiq (NIM) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”. In order to spot Nimiq (NIM), you will need to insert the short name of the asset (NIM) into the search box, which is marked in the image. Be certain of having choosen the correct pairing, we have highlighted this too. Click on “NIM/BTC” to progress.
Step 4 – Purchase Nimiq (NIM) Once you have spotted Nimiq (NIM), you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). And now we are going to make our own Limit Order. The field with the “Price” tag will be filled automatically with the most latest tariff Nimiq (NIM) was sold for. This can be changed to your preferred rate. The ”Amount” field is the amount of NIM you wish to buy. The ”Total” field is the total price in BTC that you'll pay for the complete quantity of NIM. When you're happy, click on “Buy NIM”. Your plan will be filled when a Seller trades their NIM for the price you introduced.
Step 5 – Withdraw Nimiq (NIM) Unless you are regularly trading, never keep your coins on an Crypto Exchange for an extended period of time. To take off your Nimiq (NIM), go to the tab called “Funds” and mouse click on “Withdraw”. Nimiq (NIM) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Nimiq (NIM) by using the provided drop-down box. Enter the quantity of Nimiq (NIM) you'd like to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address. When you're satisfied, make a mouse click on “Submit”. You could be asked for email/phone verification ahead of a withdrawal.