A Step-by-Step-Guide on how to buy YFI Product Token (YFIP)
Step 1 – Join Coinbase and receive 10$ in Bitcoin You'll first need to buy one of the top-tier coins. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click below for registration and getting Ethereum or Bitcoin.
Step 2 – Transmit Your Ethereum or Bitcoin to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. YFI Product Token (YFIP) is accessible on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to) Make sure you have chosen the correct coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).
Step 3 – Find (YFIP) YFI Product Token Once your deposit has been approved, you will now have access to your finances and you can initiate invest and trading. To buy YFI Product Token (YFIP) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”. To locate (YFIP) YFI Product Token, you will need to put the shortname of the coin (YFIP) into the search-box, which is highlighted in the picture. Make sure you have selected the proper pairing, we've highlighted this too. Click on “YFIP/BTC” to continue.
Step 4 – Purchase (YFIP) YFI Product Token After you've spotted YFI Product Token (YFIP), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). And now we're making our own Limit Order. The “Price” field will be automatically filled with the up-to-date tariff (YFIP) YFI Product Token was sold for. You can change this to your favoured price. The “Amount” field is the amount of YFIP you wish to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll pay for the whole quantity of YFIP. If you're happy, click on “Buy YFIP”. Your plan will be filled as soon as a Vender trades their YFIP for the price you introduced.
Step 5 – Withdraw YFI Product Token (YFIP) Unless you're frequently trading, best advise is not to keep crypto on an Exchange for an extensive time frame. To withdraw your YFI Product Token (YFIP), go to the tab called “Funds” and click on “Withdraw”. YFI Product Token (YFIP) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find YFI Product Token (YFIP) by using the given drop-down box. Put into the amount of (YFIP) YFI Product Token you would wish to take off. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address. If you're satisfied, click “Submit”. You may be asked for phone/email verification before a take off.