How to Buy Loom Network (LOOM)

Step 1 – Join CEX.io

You will first need to buy one of the major currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below for registration and receive your Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Ethereum or Bitcoin has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. Loom Network (LOOM) is available on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Follow this manual)

Make sure you have chosen the right coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).

Step 3 – Locate Loom Network (LOOM)

As soon as your deposit has been verified, you will instantly have access to your assets and you can launch buying and trading. To buy Loom Network (LOOM) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To spot Loom Network (LOOM), you'll need to insert the cointype (LOOM) 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 “LOOM/BTC” to go ahead.

Step 4 – Buy Loom Network (LOOM)

After you have discovered Loom Network (LOOM), you'll be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the picture). And now we're creating our own Limit Order.

The ”Price” field will be filled with the most latest rate Loom Network (LOOM) was sold for. This can be changed to your desired rate. The field with the “Amount” tag is the quantity of LOOM you like to purchase. The field with the “Total” tag is the total price in BTC that you will settle for the complete volumen of LOOM.

If you are satisfied, click on “Buy LOOM”. Your order will be filled when a Vendor trades their LOOM for the price you introduced.

Step 5 – Withdraw Loom Network (LOOM)

Unless you are frequently trading, best advise is not to keep crypto coins on an Crypto Trader for an longer time frame. In order to withdraw your Loom Network (LOOM), hover over the tab called “Funds” and mouse click on “Withdraw”. Loom Network (LOOM) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Loom Network (LOOM) by using the given drop-down box. Drop in the quantity of Loom Network (LOOM) you'd wish to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your right withdraw address.

If you are happy, click “Submit”. You could be requested for verfication via email/phone before a take off.