A Step-by-Step-Guide on how to buy sBTC (SBTC)
Step 1 – Signup to Kraken You'll first need to buy one of the major coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below for registration and receive Ethereum or Bitcoin.
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. sBTC (SBTC) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this manual) Make sure you have chosen the precise coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. In the case you are using a decentralized exchange, like Airswap or DDEX could be divergent (Follow our manual).
Step 3 – Find sBTC (SBTC) As soon as your deposit has been verified, you'll immediately have access to your assets and you can initiate purchasing and trading. To invest in sBTC (SBTC) on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to spot sBTC (SBTC), you'll need to put the cointype (SBTC) into the search box, which is marked in the graphic. Be certain of having choosen the right grouping, we have highlighted this too. Click on “SBTC/BTC” to proceed.
Step 4 – Buy sBTC (SBTC) After you've spotted sBTC (SBTC), you will be given a Price Chart (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 automatically filled with the most up-to-date valuation sBTC (SBTC) was traded for. This can be changed to your favoured rate. The ”Amount” field is the quantity of SBTC you like to buy. The field with the “Total” tag is the aggregated price in BTC that you will pay for the complete quantity of SBTC. When you're glad, click on “Buy SBTC”. Your order will be filled as soon as a Seller sells their SBTC for the price you offered.
Step 5 – Withdraw sBTC (SBTC) Unless you're frequently trading, best advise is not to keep your crypto coins on an Crypto Trader for an longer period of time. To withdraw your sBTC (SBTC), go to the tab called “Funds” and click on “Withdraw”. sBTC (SBTC) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find sBTC (SBTC) by using the given drop-down box. Put into the quantity of sBTC (SBTC) you'd like to withdraw. Don't forget the displayed fees/minimums. Also make sure you have entered your correct withdraw address. When you are happy, make a mouse click on “Submit”. You may be asked for verfication via phone/email ahead of a take off.
Congrats! You have successfully bought and stored sBTC (SBTC).That's it! Withdrawals from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). Once you have confirmed your take off with Etherscan.io or Ethplorer.io and the (SBTC) sBTC is stored inside your wallet, you're all done.
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