A Step-by-Step-Guide on how to buy renBTC (RENBTC)
Step 1 – Signup to Kraken In the beginning you'll need to purchase units of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below for registration and receive Bitcoin or Ethereum.
Step 2 – Transmit Your Bitcoin or Ethereum to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. renBTC (RENBTC) is available on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this guide) Make sure you've chosen the precise coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our manual).
Step 3 – Find renBTC (RENBTC) Once your deposit has been verified, you'll directly have access to your assets and you can initiate buying and trading. To purchase renBTC (RENBTC) on Binance, you'll want to hover over the tab which is called “Exchange” and mouse click on “Basic”. To spot renBTC (RENBTC), you'll need to insert the short name of the asset (RENBTC) into the search-box, which is marked in the graphic. Make sure you have choosen the proper grouping, we have marked this too. Click on “RENBTC/BTC” to continue.
Step 4 – Purchasing renBTC (RENBTC) As soon as you've spotted renBTC (RENBTC), you'll be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). For now we are going to create our own Limit Order. The field with the “Price” tag will be filled with the recent rate renBTC (RENBTC) was traded for. This can be changed to your preferred rate. The field with the “Amount” tag is the amount of RENBTC you like to purchase. The field with the “Total” tag is the aggregated price in BTC that you will settle for the complete amount of RENBTC. If you are satisfied, make a mouse click on “Buy RENBTC”. Your plan will be filled when a Vender sells their RENBTC for the price you gave.
Step 5 – Withdraw renBTC (RENBTC) Unless you're regularly trading, best advise is not to keep crypto on an Exchange for an longer period of time. In order to take off your renBTC (RENBTC), go to the tab called “Funds” and mouse click on “Withdraw”. renBTC (RENBTC) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find renBTC (RENBTC) by using the given drop-down box. Enter the amount of renBTC (RENBTC) you'd wish to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address. If you're happy, click “Submit”. You could be asked for email/phone verification before a take off.