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.

Step 2 – Send Your Bitcoin or Ethereum to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Steem Dollars (SBD) is obtainable on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

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

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. In the case you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow our manual).

Step 3 – Locate Steem Dollars (SBD)

Once your deposit has been confirmed, you'll directly have access to your funds and you can launch buying and trading. To invest in Steem Dollars (SBD) on Binance, you'll want to hover over the ”Exchange” tab and after that mouse click on “Basic”.

To locate Steem Dollars (SBD), you will need to put the short name of the asset (SBD) into the search box, which is marked in the image. Be certain of having selected the correct grouping, we have highlighted this too. Click on “SBD/BTC” to proceed.

Step 4 – Purchase Steem Dollars (SBD)

After you've spotted Steem Dollars (SBD), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). For now we're going to make our own Limit Order.

The ”Price” field will be filled with the most latest valuation Steem Dollars (SBD) was traded for. You can change this to your preferred rate. The ”Amount” field is the volumen of SBD you wish to buy. The ”Total” field is the whole price in Bitcoin that you will settle for the complete amount of SBD.

When you're happy, click on “Buy SBD”. Your plan will be filled as soon as a Seller trades their SBD for the price you gave.

Step 5 – Withdraw Steem Dollars (SBD)

Unless you are regularly trading, best advise is not to keep your coins on an Crypto Exchange for an extended time period. In order to withdraw your Steem Dollars (SBD), hover over the tab called “Funds” and mouse click on “Withdraw”. Steem Dollars (SBD) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Steem Dollars (SBD) by using the given drop-down box. Drop in the volumen of Steem Dollars (SBD) you would like to withdraw. Take into account the shown fees/minimums. Also make sure you have entered your precise withdraw address.

When you're glad, click “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.