Skip to content Skip to footer

How to Buy Loom Network (LOOM)

A Step-by-Step-Guide on how to buy Loom Network (LOOM)

Step 1 – Signup to Coinbase – Get Free $10

You will first need to buy one of the top-tier currencies. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below to register and receive your first $10.

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

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

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

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so forth. If you're working with a decentralized exchange, like Airswap or DDEX could be different (Follow our how-to).

Step 3 – Find (LOOM) Loom Network

Once your deposit has been affirmed, you'll directly have access to your assets and you can launch invest and trading. To purchase (LOOM) Loom Network on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”.

To spot (LOOM) Loom Network, you'll need to insert the cointype (LOOM) into the search-box, which is highlighted in the graphic. Make sure you have selected the right pairing, we have highlighted this also. Click on “LOOM/BTC” to go on.

{How to buy Coin on Binance 1|Binance How To Buy 1} Loom Network (LOOM)
Step 4 – Purchasing Loom Network (LOOM)

After you have spotted Loom Network (LOOM), you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). And now we are making our Limit Order.

The ”Price” field will be filled with the most recent price Loom Network (LOOM) was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of LOOM you want to purchase. The field with the “Total” tag is the whole price in BTC that you'll pay for the whole quantity of LOOM.

When you're happy, click on “Buy LOOM”. Your order will be filled when a Vender sells their LOOM for the price you introduced.

Step 5 – Withdraw Loom Network (LOOM)

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

Find Loom Network (LOOM) by using the provided drop-down box. Drop in the amount of Loom Network (LOOM) you'd like to take off. Take into account the demonstrated fees/minimums. Also make sure you have entered your right withdraw address.

If you are glad, click on “Submit”. You could be asked for verfication via phone/email before a withdrawal.

Kudos! You've successfully purchased and stored (LOOM) Loom Network.

That's it!

Withdrawals from Crypto Trader can take between 1 – 30 minutes (rely on usage of the network). Once you've proved your withdrawal with Ethplorer.io or Etherscan.io and the (LOOM) Loom Network is safe inside your wallet, you're done.