How to buy ByteCoin: What you need to know?
Are you wondering how to buy ByteCoin? If so, then this guide will surely help you. ByteCoin is actually the first cryptocurrency that is untraceable. What’s more, it is the first-ever crypto that utilized crypnote technology.
What is ByteCoin?
ByteCoin is known as one of the oldest cryptocurrencies in the marketplace. However, according to Wikipedia, the developers of this coin faked its discovery in 2014, as well as the dated signatures on whitepapers, were fake also. With this news, the initial release date of ByteCoin was 2014.
In the company of its discovery, 80 percent of ByteCoin’s max supply was pre-mined by its developers already. As a matter of fact, this resulted in privacy token supporters to shift to another token that’s its more famous fork, Monero.
Even though covered disputing, this coin claims that it is capable of making unlimited international payments instantly. When it comes to their network, it works as speedy as the Internet. What’s more, the coin is secure even the transactions are unidentified.
There are several options on how to but this coin using fiat currency. In fact, you can buy it using UAH, EUR, RUB, and USD. In regard to the payment methods, you can safely use any of the following:
- Debit Card
- Credit Card
- Bank Transfer
Keep on reading and get to know more about buying ByteCoin.
Where to Buy ByteCoin?
If you want to buy this coin you need to make use of a traditional cryptocurrency exchange mainly with Bitcoin or thru an online cryptocurrency broker. Nevertheless, the following are the cryptocurrency exchanges where you can buy ByteCoin.
- CoinSpot – buy using AUD to buy Bytecoin in Australia
- Changelly – buy using USD (with credit card payment method)
- CoinDeal – buy ByteCoin using BTC
How to Buy ByteCoin?
Buying ByteCoin is pretty easy. Since you can’t buy ByteCoin cheap for fiat currencies we have to buy Bitcon first and then trade it for ByteCoin on an exchange that supports BCN. And guess what? we are going to buy Bitcoin on the world famous crypto exchange coinbase. So let’s get it started.
Step 2: Enter required details
The next thing you need to do is to enter the required details asked in the form. This includes your personal information such as your name, email address, and password. Make sure to choose a strong password comprising a combination of letters and digits for security purposes.
Step 3: Verify your account
After successfully submitting, you will receive an email from Coinbase containing a link verification. You have to click on it and also make sure to verify your account. More so, make it sure to provide a working number when asked for 2FA verification. Coinbase will utilize this information to send you a verification code in which you will have to submit to them further.
Once successful, your newly created Coinbase account is ready to use. If you don’t have any bitcoins yet you may choose to buy on the platform. Coinbase supports debit card, credit card, as well as bank transfer for purchasing digital currencies. For selling, they allow PayPal and bank transfer options. If you want to utilize debit or credit card, proceed to the following steps:
Step 4: Choose a payment method
Go to “Account” settings then select “Payment Methods” tab. Three payment options will appear so proceed and choose the “Credit/Debit” card option.
Step 5: Enter the requierd payment details
You will land into a page that requires you to submit your card information. This includes card number, card name, expiry date, zip code, and CVC number. After receiving a confirmation, proceed buying your bitcoin.
Note: For photo ID verification, upload a photo of you holding the credit card. This payment option will only allow you to buy a daily maximum of $250 worth of bitcoins.
Step 6: Buy bitcoins on coinbase
Clicking the “Buy Bitcoin” tab will allow you to land in a page where you have to enter the quantity of bitcoin you wish to buy, which wallet to save it (select My Wallet), and your payment option. Hit “Buy Bitcoin Instantly” to finish the transaction. You will instantly see your bitcoins in your wallet. Isn’t it easy?
Coinbase wallet works as an exchange and transfer USD and other fiat currencies to Bitcoin as well as other digital currency efficiently. Nowadays, you can speedily transfer your bitcoin to any marketplace, exchange or wallet using particular private keys. In this case we will send the bitcoins to coindeal to buy ByteCoin with the bitcoins we just bought.
OPEN ACCOUNT ON COINBASE NOW
Buy ByteCoin on Coindeal.com with Bitcoin
Step 1: Sign up for Coindeal
The first thing that you need to is to create an account in any of the above-mentioned cryptocurrency exchanges. But in this guide will show how to buy this coin at Coindeal.com. To do this just click the image above or click simply here. You will get directed to the Coindeail.com signup form where you can enter your details. When signing up in this exchange make sure to use a real email address because the instructions will be sent in this address.
Register on Coindeal
Step 2: Verify your address
In this step we gonna enter our contact details and credit card informations to verify our address and credit card data.
Step 3: Deposit Bitcoin from Coinbase to Coindeal
In point of fact, the majority of cryptocurrency exchanges do not accept fiat deposits. That is why you will have to exchange your deposits in either Ethereum or Bitcoin. But if you don’t have any ethereum or bitcoin tokens, there are lots of information that can be found on the Internet talking about how you can buy them. If you already have bitcoin or ethereum, sign in to your account. Then click the button that is labeled with “Deposits”, “Balance”, or “Fund” depending on the cryptocurrency exchange you utilize. After which, search for ETH or BTC and click the deposit button. From here, the exchange will be able to generate deposits address for you. Nevertheless, you can make use of CoinSpot, most especially, if you do want to experience the hassle of purchasing ethereum as well as bitcoin. At CoinSpot you will be able to deposit AUD after verifying your account. But if you want to purchase ByteCoin directly using a credit card then opt for Changelly.
Step 4: Trade your Ethereum for Bytecoin
The moment you already have ETH or BTC in your account, immediately, click on either “Markets” or “Exchange” button and search for BCN in provided search bar. However, at HitBTC, you need to click on the “Exchange’ button and look for the tab that says “Instruments”. Then type BCN on the search bar or simply scroll the list. From here, you will see a “buy BCN” tab in which you can pick Scaled Order, Market, or Limit. If you want to avail this coin at market cost, then you need to click “market” and enter the tokens that you want to purchase. When you’re ready, click on “Buy Market”. Even so, if you are utilizing CoinSpot, click the button labeled with Buy/Sell and enter BCN in the search bar. In fact, you can purchase either by typing the amount of AUD or number of tokens you want to spend. Then, click on the buy button if you are ready.
OPEN ACCOUNT ON COINDEAL NOW
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Exchanges you shouldnt miss when you want to trade crypto
Why Buy ByteCoin?
Similar to other coins, there are lots of reasons why should you buy ByteCoin. First and foremost, this coin focuses on user privacy, in fact, all the transactions made remain anonymous as what we mentioned a while ago. In addition to that, it utilized cryptnote technology. ByteCoin, on the other hand, makes use of the egalitarian algorithm. Meaning to say, ByteCoin doesn’t offer importance to specific mining hardware, however, it allows people who use an average PC to mine the coin.
How to Sell ByteCoin?
Selling ByteCoin is not as difficult as you think. As a matter of fact, you can sell these coins on the same cryptocurrency exchange in which you purchase them. The only difference is that you’ll have to type the number of ByteCoin that you’re considering to sell in the tab labeled with “Sell BCN”.
Trading ByteCoin is a way more easy then buying it. As soon as you got it on your Exchange account you can trade it for a wide variety of crypto assets. Propably you got to exchange it first in Bitcoin or Ethereum.
Which Wallet Can I Use For ByteCoin?
ByteCoin has various wallets, like web wallets that you can use in any device and access 24/7, desktop wallets that are accessible on personal computers, and mobile wallets that can get on the go.
Without a doubt, purchasing ByteCoin is a very easy and simple process. As a matter of fact, it will continue to get simpler because the team behind this coin keep on developing new applications as well as connections. Nevertheless, if you’re planning to buy ByteCoin, then don’t think twice or else you will regret that you did not obtain it when it’s still low.