How to Buy Loom Network (LOOM)

A Step-by-Step-Guide on how to buy Loom Network (LOOM)

Step 1 – Signup to Coinbase and receive 10$ in Bitcoin

In the beginning you'll need to buy units of the top-tier currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below to register and getting Bitcoin or Ethereum.

Binance Signup
Step 2 – Send Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Loom Network (LOOM) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Just follow this guide)

Make sure you have selected the precise coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find Loom Network (LOOM)

Once your deposit has been approved, you will immediately have access to your finances and you can launch invest and trading. To invest in Loom Network (LOOM) on Binance, you'll want to hover over the tab which is called “Exchange” and click on “Basic”.

To locate (LOOM) Loom Network, you will need to insert the short name of the asset (LOOM) into the search-box, which is marked in the picture. Make sure you have selected the correct pairing, we've highlighted this too. Click on “LOOM/BTC” to go on.

How to buy Coin on Binance 1 Loom Network (LOOM)
Step 4 – Buying (LOOM) Loom Network

After you have discovered (LOOM) Loom Network, you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). For now we are creating our Limit Order.

The “Price” field will be automatically filled with the latest valuation (LOOM) Loom Network was sold for. You can change this to your favoured price. The “Amount” field is the amount of LOOM you wish to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the complete amount of LOOM.

If you are happy, make a mouse click on “Buy LOOM”. Your plan will be filled as soon as a Vendor trades their LOOM for the price you gave.

Step 5 – Withdraw (LOOM) Loom Network

Unless you are trading, best advise is not to keep your coins on an Crypto Trader for an longer time frame. To withdraw your Loom Network (LOOM), hover over the “Funds” tab and click on “Withdraw”. Loom Network (LOOM) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Loom Network (LOOM) by using the provided drop-down box. Enter the quantity of Loom Network (LOOM) you'd wish to take off. Take into account the shown minimus/fees. Also make sure you have filled your precise withdraw address.

When you're happy, make a mouse click on “Submit”. You may be requested for email/phone verification before a take off.

Kudos! You've successfully bought and stored Loom Network (LOOM).

That's it!

Withdrawals from Exchange can take anywhere from 1 – 30 minutes (depending on network usage). As soon as you have proved your take off using Etherscan.io or Ethplorer.io and the Loom Network (LOOM) is stored inside your wallet, you are finished.