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 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Steem Dollars (SBD) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow these easy steps)

Make sure you've selected the precise coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow these easy steps).

Step 3 – Find Steem Dollars (SBD)

As soon as your deposit has been verified, you'll now have access to your assets and you can launch buying and trading. To invest in Steem Dollars (SBD) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To spot Steem Dollars (SBD), you will need to insert the short name of the asset (SBD) into the search box, which is marked in the image. Be certain of having selected the correct pairing, we've highlighted this too. Click on “SBD/BTC” to advance.

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

As soon as you have discovered Steem Dollars (SBD), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). Next we are going to create our own Limit Order.

The ”Price” field will be filled with the most recent tariff Steem Dollars (SBD) was sold for. You can change this to your desired price. The ”Amount” field is the quantity of SBD you wish to buy. The field with the “Total” tag is the aggregated price in BTC that you will pay for the whole amount of SBD.

When you are glad, click on “Buy SBD”. Your order will be filled when a Seller trades their SBD for the price you offered.

Step 5 – Withdraw Steem Dollars (SBD)

Unless you're regularly trading, you should never keepyour crypto on an Exchange for an extensive time period. In order to withdraw your Steem Dollars (SBD), go to the ”Funds” tab and click on “Withdraw”. Steem Dollars (SBD) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Steem Dollars (SBD) by using the provided drop-down box. Drop in the amount of Steem Dollars (SBD) you'd like to take off. Take into account the presented minimus/fees. Also make sure you have entered your precise withdraw address.

When you are glad, make a mouse click on “Submit”. You may be requested for verfication via phone/email ahead of a take off.

Binance Withdraw

Kudos! You've successfully purchased and safed Steem Dollars (SBD).

That's it!

Withdrawals from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (rely on usage of the network). Once you have confirmed your withdrawal using Ethplorer.io or Etherscan.io and the (SBD) Steem Dollars is stored inside your wallet, you're done.

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