A Step-by-Step-Guide on how to buy Tezos (XTZ) in Faroe Islands
Step 1 – Signup to Kraken In the beginning you'll need to buy units of the top-tier coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Follow the Link below for registration and to get your welcome Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is identical. Tezos (XTZ) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this guide) Make sure you've selected the right coin you would like to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).
Step 3 – Locate Tezos (XTZ) Once your deposit has been approved, you'll instantly have access to your finances and you can initiate purchasing and trading. To buy Tezos (XTZ) on Binance, you'll want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”. In order to locate (XTZ) Tezos, you will need to insert the cointype (XTZ) into the search box, which is highlighted in the graphic. Make sure you have selected the proper pairing, we've highlighted this also. Click on “XTZ/BTC” to continue.
Step 4 – Purchase (XTZ) Tezos After you've located (XTZ) Tezos, you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). And now we are making our own Limit Order. The field with the “Price” tag will be automatically filled with the recent tariff Tezos (XTZ) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the quantity of XTZ you like to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole amount of XTZ. When you're satisfied, click on “Buy XTZ”. Your order will be filled as soon as a Vendor sells their XTZ for the price you gave.
Step 5 – Withdraw Tezos (XTZ) Unless you're frequently trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an longer period of time. To withdraw your Tezos (XTZ), hover over the tab called “Funds” and click on “Withdraw”. Tezos (XTZ) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Tezos (XTZ) by using the provided drop-down box. Put into the volumen of Tezos (XTZ) you would wish to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address. If you're satisfied, make a mouse click on “Submit”. You may be asked for verfication via email/phone before a withdrawal.