Buying Electroneum is very easy these days. If you want, you can use cash, card – even PayPal! However, you still need to follow a few steps to do it – that’s why we made this easy tutorial for you! It is separated into parts – just follow the one that matches your purchase method.
- Buy Electroneum with Credit Card or Debit Card
- Keep your Electroneum secure with hardware wallet
- Frequently Asked Questions about Electroneum
How to Buy Electroneum with Credit Card or Debit Card?
No matter what people say, it’s easy to buy Electroneum with a credit card.
Your first step will always be buying Bitcoins or Ethereum with your credit card. They can then be converted to Electroneum.
Follow these steps:
- Buy Bitcoin or Etherium at an exchange you like.
- Transfer Bitcoin or Etherium to an exchange that supports Electroneum currency.
- Finally, exchange Bitcoin or Etherium to Electroneum.
Please follow our step by step guide bellow to buy Electroneum.
1. Create an Account on Coinbase
To buy Ethereum from Coinbase – which you will exchange for Electroneum (ETN) later – you have to create an account at Coinbase. Click this link here to create an account .
Click ‘sign up‘ button and fill out the form. Enter your name (it has to be exactly the same as it’s written on your photo ID), email, password and location.
Coinbase is regulated by the US government and follows strict financial rules. As such, they have to verify your identity. It takes some time and effort, however, this makes Coinbase the reputation of the must trustworthy way to convert regular currency into cryptocurrency.
Verify The Coinbase Account
Since Coinbase needs to verify your account, you have to give them your phone number, upload an image of your photo ID and verify your card (credit or debit) or back account. Only then will you be able to buy cryptocurency.
If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It is cheaper to use bank transfers, but it is slow – it can take up to a week to get your coins.
When your payment details are verified, click ‘buy/sell’ button on the top menu.
Select ‘Ethereum’, and enter how much money you want to spend/how many coins you want to buy in the windows on the bottom of the page.
Once you have done that, click the ‘Buy‘ button.
You will now have to confirm you purchase.
Do this by pressing the ‘Confirm Buy‘ button.
You now own some Ethereum. However, don’t close Coinbase yet – we’re going to use it later!
2. Create A Kucoin Account
To exchange your Ethereum for Electroneum, you will need to set up an account on Kucoin.
Click this link to go to Kucoin. Click ‘Sign Up‘ on the top right of the screen.
You will need to enter your email address and a strong password (don’t forget it!).
The page will tell you that a confirmation email was sent to your address. Find that email in your inbox and click the link in it. Check your spam/junk folder if you can’t find your email.
The link in the email will automatically log you in KuCoin.
3. Setup 2-Step Authentication On Kucoin
You need to set up 2-step authentication on your Kucoin account before you can deposit Ethereum.
On the left hand side menu, click ‘Google 2-Step’ and follow the step to set up Google Authenticator on your smartphone/computer (we recommend the Authy App, though).
Once you have done setting up authentication , click ‘Assets’ on the top menu.
4. Get Kucoin Ethereum Wallet Address
Note: Make sure you selecting Ethereum (ETH) – you will lose your coins if you send them to the wrong wallet.
Note: There’s a minimum withdrawal amount for Electroneum on Kucoin: this means that you might not have enough coins to withdraw to your wallet if you make a small purchase. Those funds would remain stored in the exchange. To find out the minimum, find Electroneum in the list, press ‘Withdraw’ and check the ‘Min withdrawal amount’.
This screen will you show you your wallet address (a long string of numbers and letters); this is where you will deposit your Ethereum.
Copy/write down this address – you’ll need it soon.
5. Transfer Ethereum (ETH) From Coinbase To Kucoin
Return to the Coinbase website.
Click ‘Accounts’ on the top menu bar and find your Ethereum wallet – it should be listed on the left.
Paste the Ethereum wallet address you just copied from Livecoin into the ‘Recepient’ box.
Type in how much Ethereum you wish to transfer in the ‘Amount’ box (use the ‘use max’ option if you want to transfer everything).
Coinbase may then ask you to confirm the order with your password/phone. Follow the instructions until Coinbase confirms that the Ethereum coins have been sent.
You will have to wait for a few minutes for the Ethereum coins to be moved to Kucoin.
Usually, it takes between 20 and 60 minutes for coins to appear in your Livecoin wallet. This depends on network load and it might take longer during busy times. Don’t panic.
You don’t need to refresh the page as Kucoin will update automatically. You will also receive an email notifying you of the transaction.
Check your Ethereum (ETH) Balance on Kucoin
You will be ready to trade Ethereum for Electroneum once your transferred Ethereum appear in your ‘Available ETH’ balance.
6. Exchange Ethereum (ETH) For Electroneum (ETN) On Kucoin
Click this link to go to the ETN/ETH exchange market on Kucoin.
Don’t be scared; the page might look complex, but we’ll only be using a small part of it.
Find the box marked ‘Buy/Sell’; you will need to enter a 2-step authentication code from your phone/computer to enable it.
Click the number beside ‘Best price’ on the ‘Buy ETN’ side of the box. The lowest price that ETN will now be input. The price of dollar per coin will be shown below.
Click the blue symbol beside ‘Max’ in the ‘Amount’ box: his will show you how much ETN can you buy with your Ethereum at this price.
Type in the amount of ETN you wish to buy in the box or use the slide below to change the percentage of Ethereum that you will spend.
Click ‘Buy’ when you’re happy with the amount.
Your buy order is now placed. Your new Electroneum balance will soon appear in ‘Available ETN’ on the sell side of the Buy/Sell box.
If your order wasn’t completely filled (there wasn’t enough Electroneum on sale for your price), the rest of your order will remain in ‘Active orders’.
You can then either wait to see if the order fills (as more coins at your desired price enter the market), or you can cancel the order and place a new one.
The order book on top right of the page shows how many coins are available and at what price. The red coins are for sale.
You can leave your coins on Kucoin where they will probably be safe. However, exchange hacks happens and people’s coins get stolen. We recommend keeping them in a personal wallet.
Secure Electroneum (ETN) Hardware Wallet:
Cryptocurrency Exchanges are always on hackers radar, so it’s always safer to keep your cryptocurrency in a wallet.
Ledger Nano S
- Supports Multi-Currency
- Built-in Display
- Multi Apps
- Backup & Restoration
Frequently Asked Questions
Can I Buy Electroneum With PayPal?
You cannot directly buy Electroneum with PayPal at this time. If you wish to use PayPal, you will have to buy bitcoin first and then exchange bitcoins for ETN by using a service like Binance.
Can I Buy ETN With Cash?
You cannot directly buy Electroneum with cash. Even if some ATMs support Electroneum, they are less than 1% of all cryptocurrency ATMs.
If you want to buy with cash, you will have to buy bitcoin first and then exchange bitcoins for ETN using a service like Binance.
Can I Buy Electroneum With Bitcoin?
Yes, you can do that easily by using Binance to exchange bitcoins for Electroneum.
Can I Buy ETN With Skrill
Europeans can use BitPanda to buy bitcoins or ethereum with Skrill. Ethereum or BTC can then be converted into Electroneum on Binance.
Can I Buy Electroneum With Ethereum
Yes, you can do that easily by using Binance to exchange Ethereum for Electroneum.
Which is the best payment method to use?
The cheapest way to do it is to buy bitcoins with bank account (or Electroneum directly with bank account) and exchange the BTC for Electroneum.
The fastest way is to buy Electroneum with a credit card, but you will be charged higher fees.
How Can I Protect ETN Once I Purchase It?
You should store your Electroneum in a secure wallet. Leaving Electroneum on an exchange just puts you at risk of losing money if the exchange gets hacked. Your account could also get hacked, which is why it’s important to use 2FA.
How Can I Sell Electroneum (ETN)?
Binance and Changelly are good places to exchange your ETN to any other cryptocurrency. If you want to exchange it to regular currency, trader ETN for bitcoin and exchange BTC into dollars, euro, or other currencies.
Can I Mine Electroneum Instead Of Buying It?
You cannot mine Electroneum as it has a different network structure than Bitcoin. You can only purchase Electroneum from an exchange.