A Step-by-Step-Guide on how to buy Skycoin (SKY)
Step 1 – Join Kraken You will first need to buy units of the top-tier coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click below for registration and receive Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Transmit Your Funds to an Crypto Trader Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Skycoin (SKY) is accessible on Binance, so we're going to use that as an sample. Not sure on how to send Coinbase funds to an Crypto Trader? (Follow this manual) Make sure you've selected the exact coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our guide).
Step 3 – Find Skycoin (SKY) As soon as your deposit has been verified, you'll directly have access to your finances and you can initiate purchasing and trading. To buy Skycoin (SKY) on Binance, you will want to hover over the tab which is called “Exchange” and then mouse click on “Basic”. To find Skycoin (SKY), you will need to insert the cointype (SKY) into the search box, which is highlighted in the graphic. Make sure you have selected the right grouping, we have marked this too. Click on “SKY/BTC” to go on.
Step 4 – Purchase Skycoin (SKY) After you've spotted Skycoin (SKY), you will be presented with a Price Chart (in the Center of the picture) and some Order Books (on the Left of the picture). Next we are creating our own Limit Order. The ”Price” field will be filled automatically with the most up-to-date price Skycoin (SKY) was sold for. You can change this to your favoured rate. The ”Amount” field is the volumen of SKY you wish to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the complete amount of SKY. If you are satisfied, make a mouse click on “Buy SKY”. Your order will be filled when a Vendor sells their SKY for the price you introduced.
Step 5 – Withdraw Skycoin (SKY) Unless you're frequently trading, you should never keepyour coins on an Exchange for an longer time period. To take off your Skycoin (SKY), hover over the tab called “Funds” and click on “Withdraw”. Skycoin (SKY) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Skycoin (SKY) by using the provided drop-down box. Put into the amount of Skycoin (SKY) you would wish to withdraw. Don't forget the presented fees/minimums. Also make sure you have filled your right withdraw address. If you are glad, click “Submit”. You could be requested for verfication via email/phone ahead of a take off.
Congrats! You've successfully purchased and stored Skycoin (SKY).That's it! Take offs from Crypto Exchange can take anywhere from 1 – 30 minutes (depending on network usage). Once you have confirmed your take off with Etherscan.io or Ethplorer.io and the (SKY) Skycoin is safe in your wallet, you are finished.
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