A Step-by-Step-Guide on how to buy USD Coin (USDC) in South Africa
Step 1 – Join Kraken You'll first need to buy units of the bigger currencies. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click below to register and getting your first ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. USD Coin (USDC) is available on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow these easy steps) Make sure you have selected the right coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).
Step 3 – Find USD Coin (USDC) As soon as your deposit has been verified, you'll directly have access to your funds and you can launch purchasing and trading. To purchase USD Coin (USDC) on Binance, you will want to hover over the “Exchange” tab and then mouse click on “Basic”. To find (USDC) USD Coin, you'll need to insert the cointype (USDC) into the search-box, which is marked in the picture. Be certain of having choosen the proper pairing, we have marked this also. Click on “USDC/BTC” to go ahead.
Step 4 – Purchase USD Coin (USDC) Once you've located USD Coin (USDC), you will be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). For now we are making our own Limit Order. The field with the “Price” tag will be automatically filled with the up-to-date valuation USD Coin (USDC) was traded for. This can be changed to your desired rate. The “Amount” field is the volumen of USDC you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole amount of USDC. When you are happy, make a mouse click on “Buy USDC”. Your plan will be filled when a Seller sells their USDC for the price you offered.
Step 5 – Withdraw USD Coin (USDC) Unless you are regularly trading, best advise is not to keep your crypto on an Exchange for an extensive time frame. To take off your (USDC) USD Coin, hover over the tab called “Funds” and 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. Drop in the quantity of (USDC) USD Coin you'd like to withdraw. Take into account the presented minimus/fees. Also make sure you have entered your correct withdraw address. When you're glad, click “Submit”. You could be asked for verfication via phone/email before a withdrawal.