How to Buy UMA (UMA)

A Step-by-Step-Guide on how to buy UMA (UMA)

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the major currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below to register and getting Bitcoin or Ethereum.

Binance Signup
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. UMA (UMA) is accessible on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

Make sure you have selected the exact coin you would like to deposit.

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

Step 3 – Find UMA (UMA)

As soon as your deposit has been affirmed, you'll now have access to your funds and you can begin purchasing and trading. To invest in UMA (UMA) on Binance, you'll want to go to the ”Exchange” tab and after that click on “Basic”.

In order to locate UMA (UMA), you'll need to insert the shortname of the coin (UMA) into the search-box, which is marked in the image. Be certain of having choosen the proper grouping, we have highlighted this also. Click on “UMA/BTC” to proceed.

Binance Hot To Buy UMA (UMA)
Binance How to Buy (UMA) UMA
Step 4 – Buying UMA (UMA)

As soon as you've spotted UMA (UMA), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the image). For now we are going to create our own Limit Order.

The field with the “Price” tag will be filled with the most latest rate UMA (UMA) was sold for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of UMA you wish to purchase. The ”Total” field is the whole price in BTC that you will pay for the whole quantity of UMA.

If you are glad, click on “Buy UMA”. Your order will be filled as soon as a Vendor sells their UMA for the price you introduced.

Step 5 – Withdraw UMA (UMA)

Unless you are frequently trading, best advise is not to keep crypto on an Crypto Exchange for an extended time period. In order to withdraw your UMA (UMA), go to the tab called “Funds” and mouse click on “Withdraw”. UMA (UMA) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find UMA (UMA) by using the provided drop-down box. Put into the amount of UMA (UMA) you would wish to take off. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

If you're glad, click “Submit”. You may be asked for phone/email verification ahead of a withdrawal.

Binance Withdraw

Congratulations! You've successfully purchased and stored UMA (UMA).

That's it!

Withdrawals from Exchange can durate between 1 – 30 minutes (rely on usage of the network). Once you've proved your withdrawal with Etherscan.io or Ethplorer.io and the (UMA) UMA is safe within your wallet, you're done.

Some other Guides on How to buy Coins

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