Buying Siacoin 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 Siacoin with Credit Card or Debit Card
- Keep your Siacoin secure with hardware wallet
- Frequently Asked Questions about Siacoin
How to Buy Siacoin with Credit Card or Debit Card?
No matter what people say, it’s easy to buy Siacoin with a credit card.
Your first step will always be buying Bitcoins or Ethereum with your credit card. They can then be converted to Siacoin.
Follow these steps:
- Buy Bitcoin or Etherium at an exchange you like.
- Transfer Bitcoin or Etherium to an exchange that supports Siacoin currency.
- Finally, exchange Bitcoin or Etherium to Siacoin.
Please follow our step by step guide bellow to buy Siacoin.
1. Create an Account on Coinbase
To buy Ethereum from Coinbase – which you will exchange for Siacoin (SC) 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. Open An Account In An Exchamge That Accepts Siacoin (SC)
Now that you have some Ethereum, you to find a place to exchanged it for SC.
Here is a list of online exchanges where SC is traded:
Exchanges are listed in the descending order of trade volume (that is, how much trading happens on those sides).
3. Transfer Ethereum from Coinbase to Exchange
After you have opened an account at one of the exchanges from the above list, you should find your ETH wallet address.
The details of finding the address can be different depending on the website, but it’s usually easy and simple.
Make sure that you get your “deposit” or “receiver” address.
Copy/write down your ETH wallet address for the next step. (The adress (Your own unique address of course, not the address above!)
4. Transfer Ethereum To Your New Wallet
Transfer Ethereum from your Coinbase account or any other account/wallet where you keep your ETH to the receiver/deposite ETH address from the step #3.
5. Exchange Ethereum for SC
When Ethereum appear in your new exchange account (it may take a few minutes), you are read to trade it for SC in the new the exchange.
The process of trading depend on the exchange, but it’s largely similar across the platforms.
Generally, you will want to find the SC/ETH trading pair and “place an order” to buy SC with your ETH funds.
The order can work immediately – any delay is usually because the exchange is trying to find enough “sell” orders to fulfill your “buy” order.
Congratulations! You are now the proud owner of some amount of SC!
Secure Siacoin (SC) 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 Siacoin With PayPal?
You cannot directly buy Siacoin with PayPal at this time. If you wish to use PayPal, you will have to buy bitcoin first and then exchange bitcoins for SC by using a service like Binance.
Can I Buy SC With Cash?
You cannot directly buy Siacoin with cash. Even if some ATMs support Siacoin, 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 SC using a service like Binance.
Can I Buy Siacoin With Bitcoin?
Yes, you can do that easily by using Binance to exchange bitcoins for Siacoin.
Can I Buy SC With Skrill
Europeans can use BitPanda to buy bitcoins or ethereum with Skrill. Ethereum or BTC can then be converted into Siacoin on Binance.
Can I Buy Siacoin With Ethereum
Yes, you can do that easily by using Binance to exchange Ethereum for Siacoin.
Which is the best payment method to use?
The cheapest way to do it is to buy bitcoins with bank account (or Siacoin directly with bank account) and exchange the BTC for Siacoin.
The fastest way is to buy Siacoin with a credit card, but you will be charged higher fees.
How Can I Protect SC Once I Purchase It?
You should store your Siacoin in a secure wallet. Leaving Siacoin 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 Siacoin (SC)?
Binance and Changelly are good places to exchange your SC to any other cryptocurrency. If you want to exchange it to regular currency, trader SC for bitcoin and exchange BTC into dollars, euro, or other currencies.
Can I Mine Siacoin Instead Of Buying It?
You cannot mine Siacoin as it has a different network structure than Bitcoin. You can only purchase Siacoin from an exchange.