Electroneum Buy Instructions | Paypal, Credit Card & SEPA
Have you ever heard of the Electroneum cryptocurrency? Are you convinced that this crypto project has potential to grow? Then you certainly want to be invested in this project too. Now you have to ask yourself two basic questions: Where can you buy the ETN-Coins the cheapest and how does the purchase work? Don't panic, in this article we will show you exactly how this process works and what to look out for when buying.
The potential of Electroneum
Electroneum started as an ICO in October 2017. Public trading on stock exchanges began a few weeks later in November 2017. As an ETN for the first time on the Cryptocurrency exchanges occurred, the crypto currency was traded for around 9 cents per coin. Since then, the project has even quintupled in value.
Among other things, Electroneum deals with the issue of exchanging money in games. Thus there is great potential for growth for Electroneum, as there are very many large computer game and gaming companies with which Electroneum could enter a partnership. If the project will create the right business relationships, then we can assume that not only Electroneum's course but also media attention will increase significantly. Nevertheless, it is always important to do your own research when investing, no matter how good the goals and visions of the companies sound.
How high is the potential of Electroneum exactly?
Unfortunately, no one really knows exactly how Electroneum's course will change. Anyone who claims otherwise is just guessing. The fact is, you have to expect everything. It could happen that the ETN project will soon be worthless, but it could also happen that the price hits through the roof and the demand for Electroneum increases sharply. Electroneum is trying to gain a share of the very lucrative gambling and computer game markets and this definitely makes the project interesting for us when you consider that there are billions of euros in the gambling, computer and video game industries.
Two ways you can buy Electroneum (ETN)
We will now show you two ways in which you can buy Electroneum.
First method: How to buy ETN with normal currency To buy ETN-Coins with a "normal" currency (eg EUR, USD & GBP) you first have to have an account with Coinbase Create and then send Bitcoins (example) to an exchange wallet. On the stock exchange you can then choose between different altcoins such as ETN. Unfortunately, we are currently not aware of any possibility of buying Electroneum via a platform.
Second method: For those who already own cryptocurrencies and want to exchange them for Electroneum, there is a quick and easy way to do so.
Buying Electroneum with Fiat currency (Euro)
This method is for those looking to make their first ever cryptocurrency investment. If you want to enter the crypto market, you can create an account with Coinbase create. Below we are going to show you exactly how to do this step by step.
Do you already have another cryptocurrency?
For those who already have an account with Coinbase (or any other exchange), just skip the steps on creating an account.
Create a free account with Coinbase
- History: Coinbase was founded in 2012 and is the world's most popular cryptocurrency exchange
- investors: Coinbase has strong investors such as venture capital company IVP, the New York Stock Exchange, and more
- Easy: Coinbase is known and loved for its easy to use user interface
- Minimum deposit: You can already invest in cryptocurrencies on Coinbase with amounts from € 6
- Regulated: Coinbase is one of the few cryptocurrency exchanges that is regulated
- Insurance: Client funds are insured and segregated
- Deposit methods: Credit / Debit Card, Wire Transfer and PayPal for US customers
- Tradable cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin
Now the first step is done and we are ready to buy our cryptocurrencies. If you've sniffed something on Coinbase, you might be wondering where can I find the ETN coins? ETN itself is not available directly from Coinbase. To get ETN, we first need Bitcoin or Ethereum on Coinbase and then send these coins to an exchange to buy them with BTC or ETH ETN.
The fastest way to buy cryptos on Coinbase
- Go to the Buy / Sell page on your account.
- Add a payment method to your Coinbase account.
- You can now choose between different payment methods. As a European, you can currently choose between two payment methods: credit card payments or bank transfer. One factor that can be decisive in making a decision is how badly you need your cryptocurrency. A bank transfer has lower deposit fees, but on average it takes between 2 and 5 days for your cryptocurrencies to be credited to your Coinbase account.
- Option 2: You can deposit money with a credit or debit card. You pay a fee of around 3% but receive your coins directly.
Both methods are easy to perform and ensure that your money lands safely in your Coinbase account. After the deposit you will receive an email informing you when your deposit was successful.
- As soon as you have received the confirmation email from Coinbase Inc. and your account has been topped up, you can choose from the listed cryptocurrencies in the "Buy / Sell" section the one that you want most.
- Enter the amount for which you want to buy bitcoins, for example.
- Now select your euro wallet as the payment method, into which you have previously deposited money either by bank transfer or credit card.
- Complete your order by clicking "Buy".
Do you want to buy cryptocurrencies even cheaper on Coinbase?
Then take a look our Coinbase Guide at. Here we show you how you can send your funds to the subsidiary Coinbase Pro with a little more effort. On Coinbase Pro you can save fees on every single purchase, trade or sending of coins.
As soon as your selected cryptocurrency is in your Coinbase wallet, we can move on to the next step.
Setting up your ETN wallet
Electroneum has its own blockchain, which means that this cryptocurrency does not with a wallet such as MyEtherWallet is compatible. The Electroneum wallet is a good and safe option here. However, if you are not very tech-savvy, we recommend that you either take some time to set it up or get help from an expert. Even our tech professionals from Bitcoin news had to admit when creating the wallet that it was a complicated setup.
However, if you insist on doing the setting yourself, we recommend the following video tutorial:
For those looking for an easy-to-use Electroneum wallet, we have prepared a separate article that describes how you can set up an online wallet to store your ETN Coins.
Create a free account with KuCoin
You are almost there: Now you should have a certain amount of Bitcoin, Ethereum or Litecoin in your Coinbase account and a separate wallet to receive ETN. One of the largest exchanges for trading ETN is Kucoin.
KuCoin key data:
- Tradable cryptocurrencies: KuCoin offers you the possibility to choose between 150 altcoins. On KuCoin you will often find crypto currencies that have just completed their ICOs
- Easy: We think KuCoin is one of the most user-friendly exchanges out there that we have ever used. This is likely one of the main reasons for KuCoin’s explosive growth
- Multilingual: KuCoin offers multiple translated versions of your website
- Customer support: Bitcoin News has had a great experience with KuCoin email support so far
Transferring cryptocurrencies from Coinbase to KuCoin
Regardless of whether you keep your Bitcoins, Ethereum or Litecoins on Coinbase or in another wallet, you have to send your cryptos to KuCoin to exchange them for ETN.
- In the first step you should log into your KuCoin account.
- Hover over the money icon and click the "Deposit" button from the drop-down list.
- Here KuCoin itself selects some investment opportunities beforehand. Just click the drop-down list to select the cryptocurrency as a deposit option that you bought on Coinbase.
- Once you have selected the correct cryptocurrency, you will be asked if you are sure you want to deposit the selected cryptocurrency. If you click on Confirm, you will then be shown your individual deposit address for the selected cryptocurrency. You should now copy this and continue on Coinbase.
Back to Coinbase
- Log into Coinbase and go to the "Accounts" tab.
- Click the Submit button for the cryptocurrency you just copied the wallet address from.
- Paste your KuCoin deposit address into the address field "Recipient" and enter the amount you want to withdraw.
Click Next and complete the transaction. The amount will appear on your KuCoin account shortly.
Do you have cryptos in another wallet?
- In general, the process is always very similar. You log into your wallet or exchange and look for the "Payout" option and paste the copied KuCoin wallet address into the recipient field.
Buy Electroneum: Here's how!
Now it's finally time to buy our Electroneum coins.
After you have logged into your account, navigate to the KuCoin homepage and select "Markets". Make sure that you have selected the cryptocurrency that you have already deposited and now want to trade against ETN. Simply enter "ETN" in the search field. Once you see the correct trading pair, click on it to go to the trading screen.
- When you are taken to the trading screen, you will likely need yours 2-factor authentication code enter to start trading. If you don't have access to your 2FA, you can get help from support.
- If you have successfully completed the 2FA you should now see the full trading screen. At first glance, this might look a bit complicated, but don't let that put you off. Simply enter the amount of ETN Coins you want to buy and click "Buy". You can also click "Max" to spend your entire KuCoin balance on ETN. However, we recommend that you do your own research before investing large sums.
- As soon as you have clicked on "Buy", your trade will be processed and your Electroneum coins will appear in your KuCoin account.
How do I withdraw my ETN coins from KuCoin?
You did it. Your ETN coins are on your KuCoin account. But what now? Either you leave your ETN coins on KuCoin, which we do not recommend. Don't get us wrong here, we are convinced of the seriousness of KuCoin, but who doesn't prefer to have full control over their finances? That's one of the main reasons in the crypto area.
We recommend this especially when you are trading large sums of money. Likewise, online exchanges are about a lot of customer money, which makes them big targets for hackers. For this reason, you can send your coins to your own Electroneum wallet.
Send cryptos / money to the wallet
- First, log into your Electroneum wallet and copy your public address.
- Then log in to KuCoin.
- Click the "Funds" button at the top of the KuCoin website. Then search for ETN and click the "Withdraw" button.
- Now enter your private Electroneum address and the amount you want to withdraw. You will also be asked a security question and have to enter the 2FA code, after which you can confirm the payout. Upon completion, your Electroneum will be transferred from KuCoin to your own private wallet.
Notice: KuCoin will always show you the fee, so you always have full transparency on the platform with regard to additional costs. So always make sure that you agree to the fees before you click the "Confirm" button.
These were our easiest ways to invest in Electroneum. The BC1 team has great hopes for the Electroneum project. We are particularly looking forward to future collaborations in the video game sector. With Electroneum there are exponentially great innovations in the computer game industry.
The success of the ETN project depends on the right commercial partnerships. But if the Electroneum team continues to work with discipline and creativity, then the project could really be the one that brings cryptocurrencies to the masses. We at Bitcoin News will certainly follow this project closely in the coming months. We hope that we have been able to help you with this article. You are welcome to read further articles on our website.