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 – Transmit Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Steem Dollars (SBD) is accessible on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this guide)

Make sure you've selected the right coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. If you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find Steem Dollars (SBD)

Once your deposit has been verified, you'll immediately have access to your finances and you can start purchasing and trading. To purchase Steem Dollars (SBD) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.

To find Steem Dollars (SBD), you will need to insert the cointype (SBD) into the search box, which is marked in the image. Be certain of having choosen the proper grouping, we have marked this also. Click on “SBD/BTC” to continue.

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

After you have discovered Steem Dollars (SBD), you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). And now we're going to create our own Limit Order.

The field with the “Price” tag will be automatically filled with the most up-to-date valuation Steem Dollars (SBD) was traded for. This can be changed to your desired price. The field with the “Amount” tag is the volumen of SBD you wish to buy. The field with the “Total” tag is the total price in BTC that you'll pay for the complete volumen of SBD.

When you're satisfied, click on “Buy SBD”. Your order will be filled when a Vendor sells their SBD for the price you submitted.

Step 5 – Withdraw Steem Dollars (SBD)

Unless you're frequently trading, best advise is not to keep your crypto on an Crypto Trader for an longer time frame. In order to take off your Steem Dollars (SBD), hover over the tab called “Funds” and click on “Withdraw”. Steem Dollars (SBD) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Steem Dollars (SBD) by using the provided drop-down box. Put into the quantity of Steem Dollars (SBD) you'd wish to take off. Don't forget the shown minimus/fees. Also make sure you have entered your correct withdraw address.

If you are satisfied, click “Submit”. You could be asked for email/phone verification before a withdrawal.

Binance Withdraw

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

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on network usage). Once you have proved your take off with Etherscan.io or Ethplorer.io and the (SBD) Steem Dollars is safe in your wallet, you are finished.

Some other Guides on How to buy Coins

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How to Buy Coins
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