Substratum Buying Guide | Paypal, Credit Card & SEPA

Substratum Logo
Substratum Logo

You have probably heard of the crypto-currency Substratum and want to invest in the project. However, questions may arise. So that you do not make any mistakes in the purchase process, we have summarized the following article for you. You will learn how you can safely buy Subtstratum and then hold it.

Substratum Basics

If you believe in the future of Substratum, you probably want to have your own SUB-Coins, as these are the fuel for the Substratum network. You can read more about this in our comprehensive Substratum guide.

Substratum was first listed on the stock exchanges in September 2017 and traded for rounded up one cent per coin. Since then, the crypto currency has multiplied its value many times over. In January 2018, Substratum reached its current all-time high of around €3. Unbelievable.

The vision of the Substratum project seems to be great, the company is often referred to as "the new Internet". However, as with almost all crypto-currencies, we are still at the very beginning. We will find out in the next few months/years what will ultimately result from which crypto currency.

Substratum is working on many projects such as CryptoPay, which is intended to become an online platform and allow users to send crypto currencies easily.

The special thing about it, CryptoPay is supposed to introduce both the possibility of crypto currencies and Fiat (Euro, Dollar, etc.) for transactions. Thereby, Substratum shall be used as an intermediate currency for the exchange.

Example: Person A pays person B an amount X€ in Bitcoin. The amount X€ is cached as SUB. Depending on which type of payment person B accepts, person B can have the cached SUB paid out again either in Euro or in Bitcoin. Person B receives amount X in € or BTC.

How high is the potential of Substratum?

Growth

Difficult question and the truth is that nobody really knows where a crypto currency will be in the future. The fact is, you have to count on everyone and that is why you should only invest as much money as you are willing to lose.

The market in which Substratum is located is estimated at several billion euros, so the potential for Substratum is definitely very high and if the project has a market share of only 1%, the company will benefit greatly from the money in circulation.

If, for example, Substratum only takes up a fraction of the online hosting market, then we also expect a strong increase in value.

Substratum's product CryptoPay could have the potential to become a kind of PayPal of the crypto-world. The value ultimately depends on the acceptance of the masses.

The BC1 team must honestly say here that anyone who claims to know how much a crypto currency will be worth in the future is not telling the truth. As long as time travel is not possible, nobody will be able to say with absolute certainty where a course will be. What we do know, however, is that if Substratum succeeds in its mission, the SUB-Coins will be very valuable.

How to buy your own SUB-Coins

We will now show you two ways to buy your first SUB-Coins, and after reading the article you should know which option is right for you.

Option 1 shows you how to buy SUB-Coins with a Fiat currency (EUR, USD, etc.) The first step is to create an account at Coinbase and a crypto exchange.

Our second option is for those who already have a crypto currency and want to exchange it for SUB-Coins. For this we show you the best place where it works.

Buy Substratum with Fiat (Euro, Dollar, GBP)

Money

This method is for those who want to take their first crypto currency position. In the first step we buy one of the five most popular crypto currencies. But since you cannot buy many crypto currencies (like Substratum) on Coinbase yet, we have to transfer one of the buyable crypto currencies to a stock exchange and buy Substratum there.

Why not buy directly on the stock exchange? Because on stock exchanges you cannot trade with Euro, but only crypto currencies and we do not have any other crypto currency yet.

This process will take some time, but once everything is done, future purchases will be much easier. It is also still one of the easiest and fastest ways to get substrate.

You already have Kryptos?

Do you already have a Coinbase account or crypto currencies on other platforms? Then simply scroll down the Coinbase section.

Create a free account at Coinbase

Coinbase

Coinbase details:                 

  • 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

Further steps                       

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 SUB-Coins now? SUB itself is not directly available at Coinbase. To get SUB, we first have to buy Bitcoin or Ethereum on Coinbase and then send these coins to a stock exchange to buy SUB with BTC or ETH SUB.

<<>>

The fastest way to purchase BTC or ETH on Coinbase

  • Go to the buy/sell page in your account.
buy/sell
  • Add a payment method to your Coinbase account.
Adding a payment method
  • 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.  
buy/sell
  • 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.
EUR Wallet
  • Complete your order by clicking on "Buy".
Confirm your transaction

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. Now we send the just bought crypto currencies to another exchange and exchange them there for Substratum.

Setting up a Substratum Wallet

Wallet

When it comes to crypto wallets, the choice seems endless. Therefore it is even more important to be careful when choosing a wallet to protect yourself from making a wrong decision. We know that this can be confusing for beginners, but don't worry, we will show you our favourites in this article. Since Substratum is an ERC-20 token based on the Ethereum block chain, we recommend using the most popular Ethereum wallet: MyEtherWallet. This wallet is used by ourselves and many other people. It is completely free and allows you to access the "Private Keys".

Enclosed you will find the two serious sources of information to create and set up your MyEtherWallet.

Once your MyEtherWallet is ready for use, you should know that your crypto currencies can be viewed in the "Information" section. Simply click on "Show all crypto currencies" and you will see your SUB-Coins among other things.

Wallet Info

Simply scroll down this list until you find SUB and then view your balance.

Protect your funds

Keeping crypto currencies in a secure way

MyEtherWallet is a fantastic way to store your ERC-20 crypto currencies. For those looking for an even more secure way to store your funds, you can combine your MyEtherWallet with a hardware wallet.

How is a hardware wallet so secure? Hardware wallets store your private keys on the device itself. This protects your private key from phishing attempts and keyloggers, because your private key is never exposed to the online world. You should always keep in mind that there is a growing number of hackers who try to steal crypto currency, and this could even get worse if the price of crypto currency increases. So investing in additional security is not a bad idea.

As SUB is an ERC-20 token, as mentioned above, it is compatible with the two most popular hardware wallets on the market. The BC1 team itself uses both Trezor and Ledger and can therefore recommend both products to your readers.

Do you need help in choosing the hardware wallet that best suits your needs? No problem, just have a look at our detailed comparison article Ledger vs. Trezor.  

Need help setting up your hardware wallet? Just take a look at our step-by-step instructions.

Trezor display transaction

If you need help setting up the Trezor, you are welcome to read our guide.

Create a Binance account

Before you can trade on Binance, you must first create your account. It is easier and quicker to set up your account than on Coinbase, as your bank details do not need to be checked.

Binance

Details about Binance:

  • Top exchange for Altcoins: High trading volume and a large selection of Altcoins
  • Beginner-friendly: Simple layout and user interface, ideal for crypto novices
  • Wide selection: Provides access to over 100 crypto currencies
  • Mobile app: Binance offers both Android and iOS applications

Do you need more help getting started in Binance? Simply read our Binance setup guide.

Open the Binance website and click on Register. You will be asked for your e-mail address and a password. You will then receive an e-mail from Binance to confirm your e-mail address. You should then click on the link contained in the e-mail to complete the activation of your account.

<<>>

Registration form

Once you have created your account, log in to Binance with the e-mail and password you have entered. You will be asked to read and accept the security instructions. Once you have done so, click on "Next" to continue.

On the next screen you can set up your two-factor authentication, also known as 2FA. This is an additional layer of security that prevents account access by strangers. With 2FA on Binance you can either use the authentication app from Google or use SMS authentication. You can also skip this step, but this option is not recommended.

After you have completed your 2FA, you are ready for the next step. The daily limit on Binance for withdrawals is 2 BTC. However, you can increase this limit by completing the KYC (Know Your Customer) documentation.

Crypto currencies from Coinbase to Binance  

Binance

Now we are ready to transfer the crypto-currencies we just bought to Binance. No matter if you have crypto currencies on Coinbase or in another wallet, the possibility to send your crypto currencies to another wallet should be about the same on each platform.

Transmission

  • Log in to your Binance account.
  • Select "Balance" and click on "Deposit" for the crypto currency you wish to deposit from Coinbase (or other exchange).
Binance Dashboard
BTC Payout address
  • Make sure that you choose Ethereum, for example, if you have Ethereum on Coinbase. If you send the wrong crypto currency to the wrong wallet, you can lose your money.
  • You will now see your inpayment address for Binance. Copy this address.

Coinbase

  • Now log in to Coinbase and go to the "Accounts" tab.
  • Click the "Send" button for the crypto currency you want to send.
BTC Wallet
  • Enter your Binance inpayment address in the "Recipient" address field and enter the amount you wish to withdraw.
  • Click Next and complete the transaction. Your crypto currency (e.g. Ethereum) should appear in your Binance account shortly.
BTC Wallet

Coinbase Pro

If you store your crypto currencies on Coinbase Pro, you must first copy the wallet address to Binance. Then go to the "Credit" field and select the crypto currency you want to transfer. Make sure that you have copied the address correctly and then visit the Coinbase Pro website to start the transaction.

Now select the "Withdrawal" option on the left side of the screen and once you have done so, a pop-up with a drop-down menu will appear. Select the crypto currency you wish to move to Binance.

Coinbase Dashboard

Here you enter the wallet address and the amount you want to transfer. When you are satisfied with the selected crypto currency and the amount you have entered, click the 'Send' button below and your transaction will begin.

Exchange ethereum, Bitcoin, etc. for substrate

Coins

The setup from just now was a one-time task and is now finally finished. You should now have Bitcoin, Ethereum, etc. in your Binance account. Now it is time to get your SUB-Coins.

  • Navigate to the Binance homepage and select "BTC Markt" if you have Bitcoin on Binance, or "ETH Markt" if you have Ethereum. Now search for SUB in the search bar and click on the SUB/BTC or SUB/ETH market.
Coin market
  • The trading screen may look tricky at first glance, but don't be put off, we'll show you exactly what to do. Simply select the "Market" tab (so you can buy at market price). Enter the amount you wish to invest in Substratum. You can also use the percentage fields to allocate a certain percentage of your balance on Binance.
Trade Diagram
  • Once you have clicked on "Buy", your trade will be settled and your SUB-Coins will appear in your Binance account.

<<>>

Send substrate to the MyEtherWallet

We have our SUB-Coins on Binance and our MyEtherWallet is ready to receive, but we generally recommend that you always move crypto currencies from the online exchange to a private wallet, especially for larger amounts or when you hold them for a longer period of time. The reason for this is that exchanges are tempting targets for hackers and we want to avoid any risk.

Instructions

  • Go to the Ethereum wallet and copy your public address.
  • Register with Binance.
  • Navigate to "Credits" and click on the "Withdrawals" button.
Binance Dashboard
  • Select Substratum from the drop-down list, enter your public Ethereum wallet address and enter the amount you wish to withdraw.
SUB Payout address
  • Click "Send" and your SUB-Coins will be sent to your MyEtherWallet.

Conclusion on buying Substratum

Now you know our preferred way to buy Substratum. It is entirely up to you which method you use. The BC1 team is very excited about the Substratum project, if and how it will influence the cryptomarket. We are also particularly interested in how and if CryptoPay will support the introduction of crypto currencies to merchants.

We hope we were able to help you a little with this guide, best regards from the Bitcoin News team.

Do you want to trade crypto currencies with the best conditions?
eToro logo

Get started on eToro, the test winner crypto broker from Bitcoin-News.one

REGISTER NOW
Your capital is at risk. Not ready yet? Read our Etoro test.

Callie Machalat

Callie Machalat of Bitcoin-News.one understands the information needs of crypto community members, traders, researchers and developers who are looking for reliable information to understand and participate in the crypto revolution.

More articles on this topic:

Buy
🔥 Stellar (XLM) Buy Instructions | Paypal, Credit Card & SEPA

Stellar Lumens (XLM) Buying Guide 2020 🥇 Paypal, Credit Card & SEPA möglich🥇 How and where Stellar Lumens (XLM) Buy and Sell 🥇Kauf in 5 minutes

Learn more...
🔥 Buy Bitcoin with PayPal in 2020: That's how it works!

Bitcoin buying with PayPal in 2020 🥇 Our experience: Buy Bitcoin via PayPal 🥇 Step by step guide 🥇

Learn more...
🔥 Dent Buying Instructions | Paypal, Credit Card & SEPA

Dent (DENT) Buy Guide 2020 🥇 Paypal, Credit Card & SEPA möglich🥇 How and where Dent (DENT) Buy and Sell 🥇Kauf in 5 minutes

Learn more...
WAX Coin Buying Guide | Paypal, Credit Card & SEPA

WAX Coin (WAXP) Buy Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where WAX Coin (WAXP) cheap Buy and sell ✓ In 5 minutes

Learn more...
Cindicator Buying Guide | Paypal, Credit Card & SEPA

Cindicator Coin (CND) Buy Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where Cindicator Coin (CND) Buy and Sell ✓ In 5 minutes

Learn more...
0x (ZRX Coin) Purchase Instructions | Paypal, Credit Card & SEPA

0x (ZRX Coin) Buy Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where 0x (ZRX Coin) cheap Buy and sell ✓ In 5 minutes

Learn more...
ICONX Coin Buying Guide | Paypal, Credit Card & SEPA

ICON (ICX Coin) Buy Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where ICON (ICX Coin) cheap Buy and sell ✓ In 5 minutes

Learn more...
Cardano (ADA) Buying instructions | Paypal, Credit Card & SEPA

Cardano (ADA Coin) Buy Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where Cardano (ADA Coin) cheap Buy and sell ✓ In 5 minutes

Learn more...
Steem Coin Buying Guide | Paypal, Credit Card & SEPA

Steem Coin Buying Guide 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where Steem Coin (STEEM) cheap buying and selling ✓ In 5 minutes

Learn more...
Altcoins Buying Guide | Paypal, Credit Card & SEPA

Altcoins Buying Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where to buy Altcoins cheap Buy and sell ✓ In 5 minutes

Learn more...
NEO Coin Buying Guide | Paypal, Credit Card & SEPA

NEO Buying Guide 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where crypto currency NEO cheap Buy and sell ✓ In 5 minutes

Learn more...
Substratum Buying Guide | Paypal, Credit Card & SEPA

Buy Substratum Instructions 2020 ✓ Paypal, credit card & SEPA possible ✓ How and where to buy Substratum (SUB) cheap Buy and sell ✓ In 5 minutes

Learn more...
IOTA (MIOTA) Buying instructions | Paypal, Credit Card & SEPA

IOTA (MIOTA) Buying Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where IOTA (MIOTA) cheap buying and selling ✓ In 5 minutes

Learn more...
Binance Coin Buying Guide | Paypal, Credit Card & SEPA

Binance Coin (NBB) Buying instructions 2020 ✓ Paypal, credit card & SEPA possible ✓ How and where Binance Coin (NBB) cheap Buy and sell ✓ In 5 minutes

Learn more...
EOS Coin Buying Guide | Paypal, Credit Card & SEPA

EOS Coin Buying Guide 2020 ✓ Paypal, credit card & SEPA possible ✓ How and where EOS crypto currency cheap Buy and sell ✓ In 5 minutes

Learn more...
Electroneum Buying Guide | Paypal, Credit Card & SEPA

Electroneum (ETN) Buying Instructions 2020 ✓ Paypal, Credit Card & SEPA possible ✓ How and where Electroneum (ETN) cheap buying and selling ✓ In 5 minutes

Learn more...
Ripple (XRP) Buy Instructions | Paypal, Credit Card & SEPA

Ripple (XRP) Buy Instructions 2020 ✓ Paypal, credit card & SEPA possible ✓ How and where Ripple (XRP) crypto currency cheap Buy and sell ✓ In 5 minutes

Learn more...