ICONX Coin Buying Instructions | Paypal, Credit Card & SEPA
Do you like the idea of connecting the world through ICON (ICX) and do you think that the project will drive the introduction of blockchain into companies? Then you probably have two questions: How and where can I buy ICX? In this article, we're going to introduce our two ways to buy ICX and show you how to store it.
Are you late to buy ICON?
ICX first traded on the cryptocurrency exchanges in October 2017 at a price of 44 cents per token. Since then, ICON has been in full swing, hitting an all-time high of $ 2018 in January 12,50. As of this writing, you can buy ICX for just $ 0,22 per token.
Bitcoin News.one Always recommends that you ensure that you are not buying a coin at an all-time high, but instead use discounts such as those offered by ICX to minimize your possible losses. The advantage of buying at low prices is that you give yourself better chances of higher returns. The math says that a 50% decline will require a 100% return to return to break-even point. For this reason, we at Bitcoin-News.one always strive to accumulate cryptocurrencies with the highest possible discounts.
At ICON, don't forget that ICO only took place in September 2017 and has been publicly traded for a little over a year. The ICON ecosystem has to involve a lot more companies in order to make it truly valuable. We assume this will take a while. That means there is still plenty of time to acquire ICX and take advantage of major partnership announcements. There are also many things in that ICX roadmapthat could also have a positive effect on the price.
Given the short time that ICON has been publicly traded, it is still very early for this project. The most important thing with any investment is getting in at a reasonable price.
How high could ICON go?
Nobody can predict the future of a cryptocurrency 100%. What we do know, however, is that ICON can benefit almost every company in the world and possibly be the digital identity manager for everyone involved. There is no doubt that Artificial Intelligence is a future-proof and very popular technology, and many companies are looking at how they can benefit from it. The fact that ICON KI is another feature that ICON can make attractive to companies.
It is extremely difficult to rate ICX at the moment as prices have been and will be determined by speculation. The media regularly report on the interest of large companies in blockchain technology and that ICON could be the solution that enables more acceptance in companies. If the ICX team is successful, then your cryptocurrency connecting the world will definitely get an exceptionally high rating, but only time will tell if the project will succeed.
How to buy ICON (ICX) - Our top 2 options briefly explained
Which of the following two options is best for you is up to you to decide:
- How do I buy ICX with normal currency (e.g. USD, EUR or GBP)? Unfortunately, there is no direct way to buy ICON through a single account. So you need to have an account with Coinbase and a cryptocurrency exchange like Binance.
- Our second way is perfect for those who already own Bitcoin or Ethereum and want to exchange this for ICX.
Buy ICX with USD, EUR or GBP
If you're making your first ever cryptocurrency investment, this method is for you. Be prepared to have an account Coinbase and a cryptocurrency exchange like Binance to create. Does that sound tricky? Don't worry, our comprehensive guide below will show you exactly how to do this.
Buy with crypto
More experienced cryptocurrency investors can skip the Coinbase chapter and read the Binance chapter right away.
Create a Coinbase account
- 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, Litecoin, 0x and more coming.
Would you like to check that you have set up your Coinbase account correctly? Our detailed instructions will support you.
Now the first step is done and we are ready for our first cryptocurrencies. But you may be wondering, where can I find ICX on Coinbase now? ICON Coins themselves are not available directly from Coinbase. To get to ICX you first have to Bitcoin or Ethereum on Coinbase and then send these coins to an exchange to buy coins there with BTC or ETH ICON.
The fastest way to buy BTC or ETH 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: credit card payments or bank transfer. One factor to consider when making a decision is how badly you need your coins. A bank transfer has lower deposit fees, but it takes between 2 and 5 days for your cryptocurrencies to be credited to your Coinbase account.
- Option 2: You can deposit funds 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.
- Once your account is topped up, choose between the listed cryptocurrencies in the "Buy / Sell" section, Ethereum or Bitcoin.
- Enter the amount for which you want to buy bitcoins, for example.
- As the payment method, select the currency wallet you have paid into (in this example we have used EUR).
- Review your order before clicking "Confirm Purchase." Your crypto will then be automatically credited to your Coinbase account.
Do you want to buy cryptocurrencies even cheaper on Coinbase?
Then check out ours 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.
Once you have successfully bought Ethereum or Bitcoin on Coinbase, you are ready for the next step.
How do I get an ICON (ICX) wallet?
Although ICON will have its own blockchain in the future, the ICX token is currently based on Ethereum and is an ERC-20 token. This means that ICON can be stored in an Ethereum wallet. We recommend that you use MyEtherWallet. It's the world's most popular Ethereum wallet and it's completely free.
Use our Step by step instructions to set up MyEtherWallet.
As soon as your MyEtherWallet is set up and ready for use, you can get an overview. First, go to the “View Wallet Info” section of MyEtherWallet and log in. Click the "Show All Tokens" button.
Simply scroll through the list of tokens until you see ICX and hit the "Load" button to view your token balance.
How can I store ICX in the safest possible way?
We like MyEtherWallet as a free way to store your ICON coins. However, there are many hackers targeting cryptocurrency right now, and this problem is likely to get worse as cryptocurrency prices increase. That means security should be taken seriously.
The most secure wallet on the market is currently a hardware wallet device. This stores your private keys on the device and protects it from attacks such as keyloggers and fishing attempts. For example, your computer can contain a ton of viruses, but with a hardware wallet, your crypto should be safe. Bitcoin-News.one recommends using hardware wallets, but in the end it is of course your decision whether you want to invest the money.
The good news is that the Ethereum-based ICX is compatible with the two most popular hardware wallets on the market. We currently use both one Trezor as well as a Ledger himself and happily recommend both devices. Do you need help choosing the most suitable hardware wallet for you? Just check out ours Comparison article Ledger vs. Trezor
Do you need help setting up your ledger? Just take a look at our comparison article mentioned above.
Do you need help setting up your Trezor? Just take a look at ours Step-by-step instructions.
If you need help integrating your Trezor or Ledger into MyEtherWallet, just take a few minutes to review our instructions to read.
Create a Binance Account
By now you should have Ethereum or Bitcoin set up on Coinbase and your ICX wallet. Now is the time to set up your cryptocurrency exchange account so that you can trade Bitcoin or Ethereum for ICON coins. The most popular cryptocurrency exchange in the world and for ICX is Binance. We don't believe that you can go wrong with Binance and therefore recommend the exchange to you.
- The largest exchange in the world: Binance has the highest crypto trading volume in the world.
- The one-stop shop: Over 100 different cryptocurrencies are available on the exchange.
- Easy to handle: The swap has received a lot of praise for being simple and straightforward.
- Customer support: Binance has invested in multi-language support.
Do you need help setting up a Binance account? Just check out ours Binance Guide
From Coinbase to Binance Guide
You can start immediately as soon as your Binance account is set up. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you need to send your coins to Binance to trade them for EOS.
- Log into your Binance account.
- Select "Funds" and click "Deposit".
- Make sure you select the cryptocurrency that you bought on Coinbase. If you choose the wrong cryptocurrency, you can lose your money!
- Now you will see your Binance deposit address. This address is your new individual wallet address to which you will send your coins. Copy this address and go back to Coinbase. We used Bitcoin in the example.
- Log into Coinbase and go to the "Accounts" tab.
- Click on “Send” for the cryptocurrency from which you have just copied the wallet address (Binance).
- Paste your Binance deposit address into the recipient address field and enter the amount you wish to send.
- Click "Next" and complete the transaction. Your coins should appear on Binance shortly.
Do you have crypto in another wallet?
- Just send your crypto to your Binance deposit address.
How to trade Bitcoin or Ethereum for ICX on Binance?
- Make sure you are signed in to Binance and go to the homepage. You will then see a list of markets and various cryptocurrencies. First you need to choose the right market. Choose "BTC Markets" for Bitcoin or "ETH Markets" for Ethereum. Then type 'ICX' in the search box.
- The 'Binance Trading' screen appears. Select the “Market” button to buy the ICON-Coin at the current market price. Then enter the number you want to buy. Binance also gives you the option to use a percentage of your balance to buy crypto.
- After clicking the "Buy ICX" button, your purchase will be confirmed and your ICON will appear on your account.
How do I send ICX to my wallet?
If you do not want to continue trading with ICX immediately, we recommend that you keep ICON-Coins in a wallet. Binance is a natural target for hacker attacks and even if the exchange has top-notch security, you shouldn't take any chances.
- Log into your MyEtherWallet and copy your public address.
- Sign in to Binance.
- Navigate to Funds and click the Payouts button.
- Select ICX from the drop-down list, then paste your MyEthereumWallet public address and enter the amount you want to withdraw.
Important: Binance charges a fee for processing withdrawals. The fees change regularly. However, you can see the current withdrawal fee for EOS-Coins here.
There you have our top 2 ways to buy ICON. We from Bitcoin News.one are very excited to see what the ICON project can do for the introduction of blockchain in companies. We are excited that the ICON ecosystem is supporting AI and we believe this technology will play an important role in the future. If the ICX team does indeed network the world as planned, then there is no doubt that investors will receive high rewards for their trust in ICON.