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 Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. Steem Dollars (SBD) is accessible on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this how-to) Make sure you've chosen the correct coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. If you're using a decentralized exchange, like Airswap or DDEX could be divergent (Follow these easy steps).
Step 3 – Find Steem Dollars (SBD) Once your deposit has been affirmed, you'll now have access to your assets and you can initiate purchasing and trading. To invest in Steem Dollars (SBD) on Binance, you'll want to hover over the ”Exchange” tab and then mouse click on “Basic”. In order to find Steem Dollars (SBD), you'll need to put the cointype (SBD) into the search-box, which is marked in the picture. Make sure you have choosen the correct grouping, we've marked this too. Click on “SBD/BTC” to go on.
Step 4 – Buying Steem Dollars (SBD) After you've located Steem Dollars (SBD), you will be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). For now we're making our own Limit Order. The ”Price” field will be filled automatically with the most recent valuation Steem Dollars (SBD) was traded for. You can change this to your favoured rate. The ”Amount” field is the volumen of SBD you wish to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the whole quantity of SBD. If you are glad, click on “Buy SBD”. Your plan will be filled when a Vender sells their SBD for the price you introduced.
Step 5 – Withdraw Steem Dollars (SBD) Unless you are regularly trading, best advise is not to keep crypto on an Crypto Exchange for an extensive period of time. In order to take off your Steem Dollars (SBD), hover over the ”Funds” tab and mouse click on “Withdraw”. Steem Dollars (SBD) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Steem Dollars (SBD) by using the provided drop-down box. Drop in the quantity of Steem Dollars (SBD) you'd wish to take off. Don't forget the displayed minimus/fees. Also make sure you have entered your right withdraw address. If you're glad, click on “Submit”. You could be asked for phone/email verification ahead of a take off.