A Step-by-Step-Guide on how to buy Steem Dollars (SBD)
Step 1 – Join CEX.io In the beginning you'll need to purchase one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click below to register and receive your Ethereum (ETH) or Bitcoin (BTC).
Step 2 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. Steem Dollars (SBD) is accessible on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual) Make sure you have selected the right coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our manual).
Step 3 – Locate Steem Dollars (SBD) As soon as your deposit has been verified, you'll now have access to your assets and you can begin purchasing and trading. To invest in Steem Dollars (SBD) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. To spot Steem Dollars (SBD), you'll need to put the short name of the asset (SBD) into the search-box, which is marked in the graphic. Make sure you have choosen the right pairing, we have marked this too. Click on “SBD/BTC” to go on.
Step 4 – Buying Steem Dollars (SBD) Once you've found Steem Dollars (SBD), you will be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). For now we are creating our own Limit Order. The field with the “Price” tag will be filled automatically with the most recent rate Steem Dollars (SBD) was traded for. This can be changed to your desired price. The field with the “Amount” tag is the volumen of SBD you like to buy. The ”Total” field is the whole price in Bitcoin that you'll pay for the whole amount of SBD. If you are happy, click on “Buy SBD”. Your plan will be filled when a Seller trades their SBD for the price you offered.
Step 5 – Withdraw Steem Dollars (SBD) Unless you are frequently trading, never keep your crypto coins on an Crypto Exchange for an longer period of time. To withdraw your Steem Dollars (SBD), hover over the tab called “Funds” and click on “Withdraw”. Steem Dollars (SBD) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Steem Dollars (SBD) by using the given drop-down box. Enter the quantity of Steem Dollars (SBD) you'd like to withdraw. Don't forget the shown fees/minimums. Also make sure you have entered your right withdraw address. When you are happy, make a mouse click on “Submit”. You could be asked for verfication via phone/email before a withdrawal.