Electroneum Buying Guide | Paypal, Credit Card & SEPA
Have you ever heard of the crypto currency Electroneum? Are you convinced that this crypto project has potential for growth? Then you surely want to be invested in this project as well. Now, however, you have to ask yourself two basic questions: Where is the cheapest place to buy ETN coins and how does the purchase work? Don't panic, in this article we show you exactly how this process works and what you have to pay attention to when buying.
The potential of Electroneum
Electroneum started as ICO in October 2017. public trading on stock exchanges started a few weeks later in November 2017. when ETN first appeared on the crypto currency exchanges, the crypto currency was traded for about 9 cents per coin. Since then, the value of the project has increased fivefold.
Electroneum is also involved in the exchange of funds in games, so there is great potential for growth for Electroneum, as there are many large computer games and gaming companies with which Electroneum could partner. If the project will create the right business relationships, we can expect not only Electroneum's share price but also media attention to increase significantly. Nevertheless, it is always important to do your own research when investing, no matter how good the companies' goals and visions sound.
How high is the potential of Electroneum exactly?
Unfortunately, nobody really knows exactly how Electroneum's course will change. Anyone who says the opposite is only making assumptions. Fact is, you have to expect everything. It could happen that the ETN project will be worthless in the near future, but it could also happen that the share price will hit the ceiling and the demand for Electroneum will increase strongly. Electroneum is trying to gain a share of the very lucrative gaming and computer game markets and this makes the project definitely interesting for us, considering that there are billions of Euros in the gaming, computer and video game industry.
Two ways to 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 (e.g. EUR, USD & GBP) you first have to create an account at Coinbase and then send Bitcoins (example) to a stock exchange wallet. At the stock exchange you can then choose between different Altcoins like ETN. Unfortunately, we do not yet know of any possibility to buy Electroneum via a platform.
Second method: For those who already own crypto currencies and want to exchange them for Electroneum, there is a simple and fast way to do this.
Purchase of Electroneum with Fiat currency (Euro)
This method is for those who want to make their first crypto currency investment ever. If you want to enter the crypto market, you can create an account at Coinbase for free. Below we show you exactly how you can do this step by step.
You already have another crypto currency?
For those who already have an account with Coinbase (or another exchange), simply skip the steps about account creation.
Create a free account at Coinbase
- History: Coinbase was founded in 2012 and is the most popular crypto currency exchange worldwide
- Investors: Coinbase has strong investors like the venture capital company IVP, the New York Stock Exchange and other companies
- Simple: Coinbase is known and loved for its easy to use interface
- Minimum deposit: You can already invest with amounts from 6€ in crypto currencies on Coinbase
- Regulated: Coinbase is one of the few crypto currency exchanges that's regulated
- Insurance: Client funds are insured and segregated
- Deposit methods: credit/debit card, bank transfer and PayPal for US customers
- Tradable crypto currency: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin
Now the first step is done and we are ready to buy our crypto currencies. If you have been sniffing around on Coinbase, you might be wondering where to find the ETN-Coins. ETN itself is not available directly from Coinbase. To get ETN, we first have to buy Bitcoin or Ethereum on Coinbase and then send these coins to a stock exchange to buy ETN with BTC or ETH.
The fastest way to get cryptos on Coinbase
- Go to the buy/sell page in your account.
- Add a payment method to your Coinbase account.
- You can now choose between different payment methods, and as a European you can currently choose between two payment methods: credit card payments or bank transfer. One factor that may influence your decision is how much you need your crypto currency. A bank transfer has lower deposit fees, but on average it takes between 2 and 5 days for your crypto currency to be credited to your Coinbase account.
- Option 2: You can deposit money with a credit or debit card, you pay a fee of about 3% but receive your coins directly.
Both methods are easy to use and ensure that your money lands safely on 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 mail from Coinbase Inc. and your account has been charged, you can choose between the listed crypto currencies in the section "Buy/Sell" which one you would like to have most.
- Enter the amount for which you would like to buy Bitcoins, for example.
- Now choose as payment method your Euro-Wallet, into which you have previously deposited money either by bank transfer or credit card payment.
- Complete your order by clicking on "Buy".
Do you want to buy crypto currencies on Coinbase even cheaper?
Then take a look at our Coinbase Guide. 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 money with every single purchase, trade or sending of Coins.
Once your chosen crypto currency is in your Coinbase wallet, we can move on to the next step.
Setting up your ETN Wallet
Electroneum has its own block chain, which means that this crypto currency is not compatible with a wallet such as MyEtherWallet. The Electroneum wallet is a good and secure option here. However, if you are not very technically gifted, we recommend that you either take some time to set it up or get help from an expert. Even our tech pros at Bitcoin-News had to admit that this was a complicated setup when they created the wallet.
However, if you insist on doing the adjustment alone, we recommend the following video tutorial:
For those who are looking for an easy-to-use Electroneum wallet, we have prepared a separate article that describes how to 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 ready to receive ETN. One of the largest exchanges for trading ETN is Kucoin.
KuCoin key data:
- Tradable crypto currency: KuCoin offers you the possibility to choose between 150 Altcoins. On KuCoin you will often find crypto currencies that have just completed their ICO's
- Simple: We think that KuCoin is one of the most user-friendly exchanges out there that we have ever used. This is probably one of the main reasons for the explosive growth of KuCoin
- Multilingual: KuCoin offers several translated versions of your website
- Customer support: Bitcoin-News has had a great experience with KuCoin e-mail support so far
Transfer crypto currencies from Coinbase to KuCoin
Regardless of whether you keep your Bitcoins, Ethereum or Litecoins on Coinbase or in another wallet, you must send your cryptos to KuCoin to exchange them for ETN.
- In the first step you should log in to your KuCoin account.
- Move the mouse pointer over the money symbol and click on the "Deposit" button from the drop-down list.
- Here KuCoin itself selects some investment opportunities in advance. Simply click on the drop-down list to select the crypto currency as a deposit option, which you have purchased on Coinbase.
- Once you have selected the correct crypto currency, you will be asked if you are sure you want to deposit in the selected crypto currency and when you click Confirm, you will be shown your unique deposit address for the selected crypto currency. You should now copy this and continue on Coinbase.
Back to Coinbase
- Log in to Coinbase and go to the "Accounts" tab.
- Click the Send button for the crypto currency from which you just copied the wallet address.
- Insert your KuCoin deposit address in the "Recipient" address field and enter the amount you wish 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 search for the option "Payout" and insert the copied KuCoin wallet address into the recipient field.
Buy Electroneum: That's the way to go!
Now it is 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 crypto currency you have already deposited and now wish to trade against ETN. Simply enter "ETN" in the search field. Once you see the right trading pair, click on it to get to the trading screen.
- When you are redirected to the trading screen, you will probably need to enter your 2-factor authentication code to start trading. If you do not have access to your 2FA, you can get help from support.
- Once you have successfully completed the 2FA, you should now see the full trading screen. At first glance, this may look a bit complicated, but don't let this put you off. Simply enter the amount of ETN coins you wish to buy and click "Buy". You can also click on "Max" to spend your entire KuCoin credit on ETN. In this case, however, we recommend that you carry out your own research before you invest large sums of money.
- 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 in your KuCoin account. But now what? 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 is one of the main reasons in the crypto area.
This is especially recommended if you trade with large sums of money. Similarly, online exchanges are also 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.
Kryptos / Send money to the wallet
- First log in to your Electroneum wallet and copy your public address.
- Then register with KuCoin.
- Click on the "Credit" button at the top of the KuCoin website. Then search for ETN and click on the "Payout" button.
- Now enter your private Electroneum address and the amount you wish to withdraw. You will also be asked a security question and you will have to enter the 2FA code, then you can confirm the withdrawal. Once completed, your Electroneum will be transferred from KuCoin to your own private wallet.
Note: KuCoin will always show you the fee, so you always have full transparency on the platform regarding additional costs. So always make sure that you agree with the fees before you click on the "Confirm" button.
These were our easiest ways to invest in Electroneum. The BC1 team has great hope for the Electroneum project. We are especially looking forward to future cooperations in the video game sector. With Electroneum, there is potentially great innovation in the computer games 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, the project could really be the one that brings crypto currencies 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 more articles on our site.