How to Buy Siacoin SC in 3 Simple Steps

You’ll have the chance to specify how many Siacoins you’d like to buy and see the current transaction fees in the next steps. If you’d like, you can also click the button to use SiaSetup’s wallet address if you’d like to donate to SiaSetup. As a result, you will likely need to create an account and verify your identity with each service you utilize in this guide. The services in this guide may not be available to you if you live in certain countries.

Now  you know the main pros and cons of buying Siacoin on Binance, as well as how to buy Siacoin using fiat. However, buying Siacoin with fiat is not the only option – you can also use other crypto assets to do that. Siacoin is the native token of the cryptocurrency project called Sia that aims to challenge the cloud storage industry by using blockchain technology. The developers behind Siacoin are Luke Champine and David Vick. Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions.

What are the main differences between Bitcoin and altcoins?

Lastly, specify the amount of crypto you want to buy and fill in your Siacoin wallet address. For one, there is a wallet developed by the Sia project specifically for holding Siacoin crypto assets (Sia-UI). However, if you want to keep your Siacoins extremely coinmc safe, as well as easily integrate them into a variety of dApps, Ledger Nano X hardware wallet is definitely worth your attention. As it is a cold storage wallet that is not constantly connected to the internet, it keeps your crypto assets almost hack-proof.

• In the example above, we set our buy price low for demonstration purposes so that our order wouldn’t actually go through.
• Sometimes Shapeshift will be “out of stock” of Siacoins as well.
• However, it moved its headquarters elsewhere due to regulations China imposed on cryptocurrencies (the location of Binance headquarters is unknown).
• To use any of the payment methods, it’s necessary is to register an account on Binance.
• You will be asked to increase your account security by enabling 2FA (two factor authentication).

There are over 21 crypto exchanges where you can buy Siacoin, and the top 3 ones are Upbit, Binance, and Huobi. If you’re a seasoned professional and want to invest heavily in crypto, choose advanced KYC and if you’re a newbie and want to get started with trading, choose primary KYC. Once you’re done, you will need to go through some verification process, and finally, you’ll get your coins in the Binance wallet. The platform will require you to add a new card so that they can process the transactions. The table below shows all exchanges where you can buy Siacoin (SC) crypto, such as Upbit, Binance, Huobi, etc. For some exchanges there is a depth percent that shows how much liquidity is available, live bids two percent up or down from the current price.

How to Buy Siacoin (SC) in 3 Simple Steps

In the box marked ‘amount’ fill in how many SC you’d like to buy. It may be easier to use the percentage buttons below the input box- for example, press 50% if you’d like to exchange 50% of your Bitcoin for SC. Then enter the amount of Siacoin (SC) you want to buy in ‘amount’. Once the details have been entered you will be given a summary of your purchase. You will then be given the option to either take a photo of the identification and your face using your webcam or upload files of the same. If you’re on a mobile phone, you can click the supplied link to continue verification on your phone.

If you want to be fully immersed in the crypto world, buying Siacoin (SC) is not enough. Luckily, here you’ll be able to find all the expert-gathered information needed for your successful crypto journey, everything in one place. If you bought your Siacoin & now you think that the time has come to cash out, there are multiple ways to do that. One of the most popular ways of selling your crypto is exchanging it for gift cards & discounts of various vendors.

Low-fee SEPA Bank Transfers

All you need to do is download it on your computer (Windows, macOS, or Linux) and create a new wallet, if you don’t have one already. Trading fees on Poloniex depend on whether you are a maker or a taker and how big your trading volume is. The market maker is the person who provides the exchange with liquidity, and the market taker is the person who takes the current market price. Okay, now you know all the ins and outs of buying Siacoin on Binance. Well, firstly, Binance allows you to trade hundreds of different cryptocurrencies. This includes popular coins such as Bitcoin and Ethereum, as well as less-known ones like Siacoin!

Account creation is essentially the same for every crypto-related finance website which gathers KYC data. We won’t walk you through Bittrex in detail, as the process is self-explanatory if you can follow directions. See the tabs for using Coinbase and Shapeshift if you want to know what to expect. If you want to try converting Bitcoins to Siacoins using a somewhat simpler conversion service instead, see Converting to Siacoins on Shapeshift.

How long does it take for Siacoin to show up in my wallet?

While it is legal to buy Siacoin anonymously on unregulated platforms as well as from regulated brokers, the safety levels differ. Unregulated platforms are unsafe as the risk of loss and delays plague transactions in that realm. Siacoin uses an algorithm that is similar to the Bitcoin design, giving it 8 decimal places in its smallest unit. You can buy small amounts of Siacoin like $10 worth on most platforms that have no transaction minimums. You can buy Siacoin without limit and with some brokers, you can buy as high as $5 million worth if you have passed the verification level for that transaction amount. Higher transaction levels on some platforms are confirmed only by customer support tickets.

Alternately, you can click here to go to the BTC-SC market on Bittrex. Use your Siacoin wallet to get a receiving address for Shapeshift. In the Sia-UI, click on the Wallet tab, then the Receive tab along the top of the transaction list. Click on Generate New Address, and a new address will appear just below.

How and Where to Buy Siacoin (SC): Step by Step Guide

Find an exchange to buy, sell and trade SC by comparing deposit methods, supported fiat currencies and fees. Launched in 2018, WazirX is India’s biggest cryptocurrency exchange with over 6,o00,000 users, and is expanding rapidly. It is one of the most reputable exchanges to currently offer Siacoin (SC) trading opportunities and currently accept clients from all over the world. This exchange is part of the Binance Group, which ensures a high standard of quality. Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. Having once accounted for half of the world’s digital asset transactions, Huobi now serves more than 5 million users in over 130 countries around the globe.

Even if you do this, though, you need to take additional steps to keep yourself safe. Below, you’ll discover what you can do to mitigate your risk of getting hacked or scammed. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money. There are important considerations to note as you look at buying Siacoin.