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 – Send Your Bitcoin or Ethereum to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Skycoin (SKY) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow these easy steps)

Make sure you have chosen the right coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you are working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow these easy steps).

Step 3 – Locate Skycoin (SKY)

As soon as your deposit has been affirmed, you'll immediately have access to your finances and you can start buying and trading. To buy Skycoin (SKY) on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

To find Skycoin (SKY), you will need to put the cointype (SKY) into the search box, which is marked in the graphic. Be certain of having choosen the right grouping, we have marked this also. Click on “SKY/BTC” to go ahead.

Step 4 – Purchase Skycoin (SKY)

Once you've located Skycoin (SKY), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). Next we're making our own Limit Order.

The field with the “Price” tag will be automatically filled with the most recent tariff Skycoin (SKY) was sold for. This can be changed to your favoured price. The ”Amount” field is the quantity of SKY you wish to buy. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the whole volumen of SKY.

If you are glad, click on “Buy SKY”. Your order will be filled when a Seller sells their SKY for the price you offered.

Step 5 – Withdraw Skycoin (SKY)

Unless you are frequently trading, best advise is not to keep your coins on an Exchange for an extended time period. To take off your Skycoin (SKY), go to the ”Funds” tab and click on “Withdraw”. Skycoin (SKY) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Skycoin (SKY) by using the given drop-down box. Drop in the quantity of Skycoin (SKY) you would like to take off. Take into account the displayed minimus/fees. Also make sure you have filled your right withdraw address.

If you're happy, click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.