How to Buy USD Coin (USDC) in Somalia

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

Step 1 – Signup to Kraken

In the beginning you'll need to buy one of the major coins. Exchanges normally accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click below for registration and getting your first BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Exchange now. All exchanges have a deposit form that is similar. USD Coin (USDC) is accessible on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Trader? (Just follow this how-to)

Make sure you've selected the precise coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. If you're dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our guide).

Step 3 – Locate USD Coin (USDC)

Once your deposit has been approved, you will now have access to your finances and you can begin purchasing and trading. To invest in (USDC) USD Coin on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

In order to locate USD Coin (USDC), you will need to put the cointype (USDC) into the search-box, which is highlighted in the picture. Make sure you have selected the proper grouping, we have highlighted this too. Click on “USDC/BTC” to go ahead.

Step 4 – Acquisition of (USDC) USD Coin

As soon as you've discovered (USDC) USD Coin, you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). For now we're making our own Limit Order.

The “Price” field will be automatically filled with the recent price USD Coin (USDC) was traded for. You can change this to your preferred price. The “Amount” field is the quantity of USDC you want to purchase. The “Total” field is the total price in BTC that you will settle for the whole amount of USDC.

When you're happy, click on “Buy USDC”. Your plan will be filled as soon as a Seller trades their USDC for the price you gave.

Step 5 – Withdraw USD Coin (USDC)

Unless you are frequently trading, you should never keepyour crypto on an Crypto Exchange for an extended period of time. To take off your USD Coin (USDC), go to the tab called “Funds” and mouse click on “Withdraw”. (USDC) USD Coin can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find USD Coin (USDC) by using the given drop-down box. Enter the amount of USD Coin (USDC) you'd wish to take off. Don't forget the demonstrated fees/minimums. Also make sure you have entered your precise withdraw address.

When you're satisfied, click on “Submit”. You may be asked for phone/email verification before a withdrawal.

Kudos! You've successfully bought and safed (USDC) USD Coin in Somalia.

That's it!

Withdrawals from Exchange can take anywhere from 1 – 30 minutes (rely on network usage). As soon as you've proved your withdrawal using Etherscan.io or Ethplorer.io and the (USDC) USD Coin is safe within your wallet, you're done.