A Step-by-Step-Guide on how to buy NEM (XEM)
Step 1 – Signup to CEX.io You will first need to buy one of the bigger currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below for registration and receive your Bitcoin or Ethereum.
Step 2 – Transmit Your Bitcoin or Ethereum to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. Every exchange has a deposit form that is identical. NEM (XEM) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Follow this guide) Make sure you've chosen the correct coin you would like to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etcetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).
Step 3 – Locate NEM (XEM) Once your deposit has been affirmed, you will immediately have access to your finances and you can initiate purchasing and trading. To buy NEM (XEM) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”. To spot NEM (XEM), you will need to put the cointype (XEM) into the search-box, which is marked in the image. Make sure you have choosen the right grouping, we've marked this also. Click on “XEM/BTC” to proceed.
Step 4 – Acquisition of NEM (XEM) After you have found NEM (XEM), you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we're creating our own Limit Order. The ”Price” field will be filled automatically with the up-to-date tariff NEM (XEM) was traded for. You can change this to your favoured price. The ”Amount” field is the quantity of XEM you want to purchase. The field with the “Total” tag is the whole price in BTC that you'll pay for the complete quantity of XEM. When you're glad, click on “Buy XEM”. Your order will be filled when a Seller sells their XEM for the price you offered.
Step 5 – Withdraw NEM (XEM) Unless you're trading, best advise is not to keep coins on an Cryptocurrency Exchange for an extensive time period. To withdraw your NEM (XEM), go to the ”Funds” tab and mouse click on “Withdraw”. NEM (XEM) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Locate NEM (XEM) by using the given drop-down box. Enter the amount of NEM (XEM) you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your correct withdraw address. If you're happy, click on “Submit”. You could be requested for email/phone verification before a withdrawal.