How to Buy SilkChain (SILK)

A Step-by-Step-Guide on how to buy SilkChain (SILK)

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

You'll first need to buy one of the bigger coins. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and to get Ethereum or Bitcoin.

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

Your Bitcoin or Ethereum will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. SilkChain (SILK) is available on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this manual)

Make sure you've chosen the exact coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. If you are working with a decentralized exchange, such as Airswap or DDEX could be opposed (Just follow our manual).

Step 3 – Locate SilkChain (SILK)

As soon as your deposit has been affirmed, you will directly have access to your finances and you can commence invest and trading. To purchase (SILK) SilkChain on Binance, you will want to go to the “Exchange” tab and mouse click on “Basic”.

In order to find SilkChain (SILK), you will need to insert the short name of the asset (SILK) into the search-box, which is highlighted in the graphic. Be certain of having selected the proper grouping, we've highlighted this also. Click on “SILK/BTC” to progress.

Binance How To Buy 1 SilkChain (SILK)
Step 4 – Purchasing (SILK) SilkChain

As soon as you've found SilkChain (SILK), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). For now we're making our Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date price SilkChain (SILK) was sold for. You can change this to your desired price. The “Amount” field is the amount of SILK you like to purchase. The field with the “Total” tag is the whole price in BTC that you'll settle for the complete quantity of SILK.

When you're happy, make a mouse click on “Buy SILK”. Your plan will be filled as soon as a Seller trades their SILK for the price you offered.

Step 5 – Withdraw (SILK) SilkChain

Unless you're regularly trading, best advise is not to keep your crypto on an Crypto Exchange for an extensive period of time. To take off your (SILK) SilkChain, go to the “Funds” tab and click on “Withdraw”. SilkChain (SILK) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find (SILK) SilkChain by using the provided drop-down box. Put into the volumen of SilkChain (SILK) you would like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address.

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

Congrats! You have successfully purchased and stored SilkChain (SILK).

That's it!

Take offs from Crypto Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you've proved your withdrawal with or and the SilkChain (SILK) is stored inside your wallet, you're all done.