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.
Step 2 – Transmit Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Steem Dollars (SBD) is available 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 these easy steps) Make sure you have chosen the precise coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our manual).
Step 3 – Find Steem Dollars (SBD) As soon as your deposit has been confirmed, you will now have access to your assets and you can begin buying and trading. To purchase Steem Dollars (SBD) on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”. To discover Steem Dollars (SBD), you will need to put the cointype (SBD) into the search box, which is marked in the picture. Make sure you have choosen the right pairing, we have marked this too. Click on “SBD/BTC” to proceed.
Step 4 – Buying Steem Dollars (SBD) Once you've discovered Steem Dollars (SBD), you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we are creating our own Limit Order. The ”Price” field will be filled with the recent rate Steem Dollars (SBD) was sold for. You can change this to your favoured rate. The ”Amount” field is the amount of SBD you like to purchase. The ”Total” field is the whole price in BTC that you'll pay for the whole amount of SBD. When you're glad, make a mouse click on “Buy SBD”. Your plan will be filled when a Seller sells their SBD for the price you gave.
Step 5 – Withdraw Steem Dollars (SBD) Unless you are frequently trading, you should never keepyour coins on an Crypto Exchange for an extended time period. To withdraw your Steem Dollars (SBD), go to the ”Funds” tab and click on “Withdraw”. Steem Dollars (SBD) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Steem Dollars (SBD) by using the provided drop-down box. Enter the volumen of Steem Dollars (SBD) you'd wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address. If you are satisfied, click “Submit”. You could be requested for verfication via phone/email before a withdrawal.