A Step-by-Step-Guide on how to buy Honey (HNY)
Step 1 – Signup to Coinbase and get 10$ for free In the beginning you'll need to buy one of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Follow the Link below for registration and receive your welcome $10.
Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. Honey (HNY) is obtainable on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this how-to) Make sure you have chosen the correct coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Locate Honey (HNY) As soon as your deposit has been affirmed, you'll instantly have access to your finances and you can commence invest and trading. To invest in Honey (HNY) on Binance, you'll want to hover over the ”Exchange” tab and after that click on “Basic”. To discover Honey (HNY), you'll need to put the short name of the asset (HNY) into the search box, which is marked in the picture. Make sure you have choosen the right grouping, we've marked this too. Click on “HNY/BTC” to progress.
Step 4 – Buying (HNY) Honey After you've spotted (HNY) Honey, you will be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). For now we're going to make our Limit Order. The ”Price” field will be filled automatically with the most up-to-date rate (HNY) Honey was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the amount of HNY you wish to purchase. The ”Total” field is the total price in Bitcoin that you'll pay for the whole amount of HNY. When you are happy, make a mouse click on “Buy HNY”. Your order will be filled as soon as a Vendor trades their HNY for the price you submitted.
Step 5 – Withdraw Honey (HNY) Unless you are regularly trading, best advise is not to keep your coins on an Exchange for an longer time frame. In order to withdraw your Honey (HNY), hover over the ”Funds” tab and mouse click on “Withdraw”. Honey (HNY) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate Honey (HNY) by using the provided drop-down box. Enter the amount of Honey (HNY) you'd like to withdraw. Take into account the presented minimus/fees. Also make sure you have filled your correct withdraw address. If you are satisfied, click “Submit”. You may be asked for verfication via email/phone ahead of a take off.