A Step-by-Step-Guide on how to buy Skycoin (SKY)
Step 1 – Signup to CEX.io You will first need to purchase units of the bigger currencies. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below for registration and getting your Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transmit Your Ethereum or Bitcoin to an Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Skycoin (SKY) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this how-to) Make sure you have chosen the precise coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you're using a decentralized exchange, like Airswap or DDEX could be different (Just follow these easy steps).
Step 3 – Locate Skycoin (SKY) Once your deposit has been affirmed, you will directly have access to your finances and you can begin buying and trading. To invest in Skycoin (SKY) on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”. In order to locate Skycoin (SKY), you will need to insert the cointype (SKY) into the search box, which is marked in the graphic. Make sure you have selected the correct pairing, we have marked this also. Click on “SKY/BTC” to go on.
Step 4 – Buying Skycoin (SKY) As soon as you have located Skycoin (SKY), you'll be presented with a Price Chart (in the Center of the image) and some 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 automatically filled with the most latest valuation Skycoin (SKY) was sold for. This can be changed to your favoured rate. The ”Amount” field is the amount of SKY you want to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the whole amount of SKY. If you are glad, make a mouse click on “Buy SKY”. Your order will be filled as soon as a Vender sells their SKY for the price you submitted.
Step 5 – Withdraw Skycoin (SKY) Unless you're frequently trading, best advise is not to keep coins on an Exchange for an extended time frame. In order to withdraw your Skycoin (SKY), go to the tab called “Funds” and mouse click on “Withdraw”. Skycoin (SKY) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Skycoin (SKY) by using the provided drop-down box. Put into the volumen of Skycoin (SKY) you would wish to withdraw. Don't forget the displayed fees/minimums. Also make sure you have entered your correct withdraw address. If you're glad, make a mouse click on “Submit”. You may be requested for email/phone verification ahead of a take off.