A Step-by-Step-Guide on how to buy Siacoin (SC)
Step 1 – Signup to Kraken You will first need to buy units of the bigger currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and getting Funds.
Step 2 – Transfer Your Ethereum or Bitcoin to an Cryptocurrency Exchange Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Siacoin (SC) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide) Make sure you've selected the right coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. In the case you're dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow these easy steps).
Step 3 – Find Siacoin (SC) As soon as your deposit has been verified, you will instantly have access to your funds and you can commence invest and trading. To purchase Siacoin (SC) on Binance, you will want to go to the ”Exchange” tab and after that click on “Basic”. To find Siacoin (SC), you will need to insert the cointype (SC) into the search-box, which is marked in the image. Make sure you have selected the correct pairing, we've marked this too. Click on “SC/BTC” to continue.
Step 4 – Acquisition of Siacoin (SC) Once you have located Siacoin (SC), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). For now we're creating our own Limit Order. The ”Price” field will be filled with the most recent price Siacoin (SC) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the quantity of SC you wish to purchase. The ”Total” field is the aggregated price in Bitcoin that you'll settle for the complete volumen of SC. If you're satisfied, make a mouse click on “Buy SC”. Your order will be filled as soon as a Vendor sells their SC for the price you submitted.
Step 5 – Withdraw Siacoin (SC) Unless you are frequently trading, best advise is not to keep your coins on an Crypto Trader for an longer period of time. To withdraw your Siacoin (SC), go to the tab called “Funds” and mouse click on “Withdraw”. Siacoin (SC) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Siacoin (SC) by using the given drop-down box. Put into the amount of Siacoin (SC) you'd like to withdraw. Take into account the displayed minimus/fees. Also make sure you have filled your correct withdraw address. When you're glad, make a mouse click on “Submit”. You may be requested for phone/email verification ahead of a take off.