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 – Send Your Ethereum or Bitcoin to an Crypto Exchange Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Siacoin (SC) is accessible on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this manual) Make sure you've chosen the exact coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're using a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).
Step 3 – Locate Siacoin (SC) As soon as your deposit has been confirmed, you will now have access to your finances and you can commence buying and trading. To buy Siacoin (SC) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. In order to locate Siacoin (SC), you will need to insert the short name of the asset (SC) into the search box, which is marked in the picture. Make sure you have choosen the correct grouping, we've highlighted this also. Click on “SC/BTC” to proceed.
Step 4 – Buy Siacoin (SC) As soon as you've discovered Siacoin (SC), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). Next we are creating our own Limit Order. The ”Price” field will be filled automatically with the most recent price Siacoin (SC) was sold for. You can change this to your preferred rate. The field with the “Amount” tag is the amount of SC you wish to purchase. The ”Total” field is the whole price in BTC that you'll settle for the whole amount of SC. When you are happy, click on “Buy SC”. Your order will be filled when a Vendor sells their SC for the price you offered.
Step 5 – Withdraw Siacoin (SC) Unless you are regularly trading, best advise is not to keep your coins on an Crypto Trader for an longer time period. In order to withdraw your Siacoin (SC), hover over the tab called “Funds” and click on “Withdraw”. Siacoin (SC) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Siacoin (SC) by using the given drop-down box. Drop in the quantity of Siacoin (SC) you would wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your right withdraw address. If you are happy, click “Submit”. You may be asked for verfication via email/phone ahead of a withdrawal.
Congrats! You have successfully bought and safed Siacoin (SC).That's it! Take offs from Crypto Trader can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you've proved your withdrawal using Ethplorer.io or Etherscan.io and the (SC) Siacoin is stored inside your wallet, you are done.
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