How to Buy USD Coin (USDC) in Faroe Islands

A Step-by-Step-Guide on how to buy USD Coin (USDC) in Faroe Islands

Step 1 – Join CEX.io

In the beginning you'll need to purchase one of the major coins. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your welcome Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Transmit Your Ethereum or Bitcoin to an Crypto Trader

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. USD Coin (USDC) is accessible on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to)

Make sure you have selected the precise coin you wish to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. In the case you're using a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).

Step 3 – Find (USDC) USD Coin

As soon as your deposit has been verified, you'll now have access to your finances and you can commence purchasing and trading. To invest in (USDC) USD Coin on Binance, you'll want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

To spot USD Coin (USDC), you will need to put the short name of the asset (USDC) into the search box, which is highlighted in the graphic. Be certain of having choosen the right pairing, we've marked this also. Click on “USDC/BTC” to continue.

Step 4 – Acquisition of (USDC) USD Coin

As soon as you've found (USDC) USD Coin, you'll be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). For now we're going to make our Limit Order.

The field with the “Price” tag will be automatically filled with the recent tariff USD Coin (USDC) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the quantity of USDC you like to buy. The “Total” field is the total price in Bitcoin that you will pay for the whole quantity of USDC.

When you are glad, click on “Buy USDC”. Your plan will be filled when a Seller sells their USDC for the price you gave.

Step 5 – Withdraw USD Coin (USDC)

Unless you're frequently trading, best advise is not to keep coins on an Exchange for an longer time period. To withdraw your (USDC) USD Coin, go to the tab called “Funds” and click on “Withdraw”. (USDC) USD Coin can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (USDC) USD Coin by using the provided drop-down box. Enter the amount of (USDC) USD Coin you would like to withdraw. Don't forget the displayed minimus/fees. Also make sure you have filled your correct withdraw address.

If you're happy, make a mouse click on “Submit”. You could be requested for verfication via email/phone ahead of a withdrawal.

Congrats! You've successfully bought and stored (USDC) USD Coin in Faroe Islands.

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you have confirmed your withdrawal using Ethplorer.io or Etherscan.io and the USD Coin (USDC) is safe within your wallet, you are all done.