- 1 Steps to buy IOTA, Ripple, NEO, Verge, or any other Altcoins on Binance
- 1.1 *NOTE* If you are looking to buy bitcoin with a credit card quickly, you can checkout CoinMama. This way, you can bypass the extremely long wait times of using Coinbase and GDAX.
- 1.2 1) Create an account on Coinbase
- 1.3 2) Transfer money into your USD Wallet from your bank account to Coinbase.
- 1.4 3) Transfer USD from Coinbase to GDAX.
- 1.5 4) Buy BTC or ETH on GDAX
- 1.6 5) Transfer BTC or ETH to Binance from GDAX
- 1.7 6) Go back to GDAX because that’s where your BTC/ETH resides.
- 1.8 7) Now you can buy IOTA, Ripple, NEO, etc from Binance
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The main question that repeatedly comes up, “Where to buy IOTA? or “How do I buy the Ripple coin?”. Coinbase only sells BTC, ETH, LTC, and BCH. There are many coin exchanges on the market but many of them do not allow US citizens to participate. One such exchange, bitfinex, recently closed their exchanges to US citizens. This was due to a few reasons, one being they did not want to accept risk from the US market. Another problem is that most exchanges don’t have a wide variety of crypto coins listed on their exchanges.
The exchange we will be using is binance. They have the biggest selection of cryptocurrencies and is one of the only exchanges with the IOTA cryptocurrency. This will require some work on your part, as there is currently no simple protocol for buying other coins.
I also recommend using a computer or tablet to do this. Not very easy to do on a phone.
Steps to buy IOTA, Ripple, NEO, Verge, or any other Altcoins on Binance
*NOTE* If you are looking to buy bitcoin with a credit card quickly, you can checkout CoinMama. This way, you can bypass the extremely long wait times of using Coinbase and GDAX.
1) Create an account on Coinbase
For US citizens, this is the most convenient way to buy BTC, ETH, LTC, and BCH.
2) Transfer money into your USD Wallet from your bank account to Coinbase.
3) Transfer USD from Coinbase to GDAX.
We purchase our coins on GDAX because the wait times are much shorter than purchasing on Coinbase.
NOTE: Both Coinbase and GDAX are part of the same overarching team. You can log into GDAX using coinbase credentials.
4) Buy BTC or ETH on GDAX
Note: If you buy Bitcoin, know that the network could potentially be congested which will result in a wait time of around 30 min to 3 hours for your funds to hit your wallet.
5) Transfer BTC or ETH to Binance from GDAX
You are going to need to create an account on Binance. You should enable 2-factor authentication using google authenticator for added security.
Go to Funds-> Deposits Withdrawals
Select the currency you want to deposit from GDAX, click Deposit, and copy the wallet address. Make sure you pay attention to the note.
6) Go back to GDAX because that’s where your BTC/ETH resides.
Go to BTC or ETH product drop-down (whichever currency you bought in step 4)
Click Withdraw and go to BTC Address or ETH Address (whatever you see based on your currency).
Enter your amounts and two factor code. Your money is successfully transferred to Binance.
7) Now you can buy IOTA, Ripple, NEO, etc from Binance
Go back to Binance, and verify your BTC or ETH should be available under Funds-> Deposits Withdrawals.
Tip: Click ‘Hide 0 balance’ to filter quickly.
Go to Exchange -> Basic at top
Search for your Altcoin currency (e.g. IOTA, NEO, XRP etc.) in the right most panel.
Make sure you select BTC or ETH at top.
Click on the pair name. (e.g. IOTA/BTC – First currency is the one you are buying, and second is the one you are trading in exchange for)
Finally, buy your Altcoin in the middle of the page. Enter your Price and Amount for the limit order, and click buy IOTA (or any
Your order will show up in the Open Orders window at the bottom until they are fulfilled.
Once fulfilled, you can see them in ‘My 24h Order History’ or under ‘Funds’->’Deposits & Withdrawals’ tab.
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There you have it. If anyone has any questions, feel free to leave a comment below. Chances are, you will not be the only one with the question. Thanks for reading. Please share if this has helped you!