How to Buy Steem Dollars (SBD)

A Step-by-Step-Guide on how to buy Steem Dollars (SBD)

Step 1 – Join Kraken

In the beginning you'll need to buy units of the bigger currencies. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click below to register and getting Bitcoin or Ethereum.

Binance Signup
Step 2 – {Transfer} Your {Ethereum (ETH) or Bitcoin (BTC)} to an {Cryptocurrency Exchange}

Your {Ethereum or Bitcoin} {will need} to be sent over to an {Cryptocurrency Exchange} now. {All exchanges have} a deposit form that is {alike}. Steem Dollars (SBD) is {obtainable} on Binance, so {we will} use that as an {example}. {Unsure} on how to send {Coinbase funds} to an {Cryptocurrency Exchange}? ({Just follow} {this guide})

Make sure {you've} {selected} the {correct} coin you {want} to deposit.

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

Step 3 – {Find} Steem Dollars (SBD)

{As soon as} your deposit has been {verified}, {you will} {directly} have access to your {finances} and you can {launch} {buying} and trading. To {purchase} Steem Dollars (SBD) on Binance, {you will} want to {go to} the {”Exchange” tab} and{ then} {mouse click} on “Basic”.

{In order to} {spot} Steem Dollars (SBD), {you'll} need to {put} the {shortname of the coin} (SBD) into the {search box}, which is {highlighted} in the {image}. {Make sure you have} {choosen} the {correct} {grouping}, {we have} {highlighted} this {too}. Click on “SBD/BTC” to {continue}.

Binance Hot To Buy Steem Dollars (SBD)
Binance How to Buy (SBD) Steem Dollars
Step 4 – {Purchasing} Steem Dollars (SBD)

{Once} {you've} {located} Steem Dollars (SBD), {you'll} be {given} a {Price Chart} (in the Center of the {image}) and {some} Order Books ({Leftside} of the {picture}). {For now} {we're} {going to create} our{ own} Limit Order.

The {field with the “Price” tag} will be {filled automatically} with the{ most} {recent} {valuation} Steem Dollars (SBD) was {traded} for. {You can change this} to your {favoured} {rate}. The {field with the “Amount” tag} is the {amount} of SBD you {wish} to {purchase}. The {”Total” field} is the {aggregated} price in {Bitcoin} that {you'll} {pay} for the {complete} {amount} of SBD.

{If} {you're} {satisfied}, {click} on “Buy SBD”. Your {order} will be filled {when} a {Seller} {trades} their SBD for the price you {introduced}.

Step 5 – Withdraw Steem Dollars (SBD)

Unless {you're}{ regularly} trading, {best advise is not to keep} {crypto} on an {Cryptocurrency Exchange} for an {extensive} {time frame}. {In order to} {take off} your Steem Dollars (SBD), {hover over} the {tab called “Funds”} and {mouse click} on “Withdraw”. Steem Dollars (SBD) can be {stored safely} using a Wallet, {for example} MyEtherWallet. (MyEtherWallet Setup Guide)

{Locate} Steem Dollars (SBD) by using the {given} drop-down box. {Enter} the {amount} of Steem Dollars (SBD) {you would} {like} to {withdraw}. {Take into account} the {shown} {minimus/fees}. Also make sure you have {filled} your {right} withdraw address.

{When} {you are} {glad}, {click} “Submit”. You {could} be {asked} for {verfication via phone/email} {before} a {withdrawal}.

Binance Withdraw

{Kudos}! {You have} successfully {purchased} and {safed} Steem Dollars (SBD).

That's it!

{Withdrawals} from {Exchange} can {durate} {between} 1 – 30 minutes ({depending} on {network usage}). {Once} {you've} {proved} your {take off} {using} {Ethplorer.io or Etherscan.io} and the (SBD) Steem Dollars is {safe} {inside} your wallet, {you are} {done}.
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