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How to buy Grin Coin
How to buy Grin Coin
Crypto

How to buy Grin Coin

By Marco Cavicchioli - 20 Jan 2019

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How to buy Grin Coin?

Grin Coin has just been launched and is already available for purchase on some exchanges. Among these, one of the first to list this new cryptocurrency was the Nexex platform, where Grin Coin can be purchased with bitcoin (BTC).

Although it has just been launched, there are already several trades that have been made on Nexex in exchange for BTC and it is already possible to see the first price fluctuations on the chart.

To buy Grin Coin on Nexex it is necessary to place a purchase order with bitcoin.

In the help center of the exchange there is a detailed explanation of how to proceed, which we will summarize with a few key steps.

The identity verification process on Nexex is mandatory in order to start trading. In addition, there are three levels of verification, with different thresholds of operability.

Since the available trading pair is Grin/BTC, in order to proceed with the purchase you must make a BTC deposit on the wallet of the exchange.

how to buy grin coin

[wallet.png]

Alternatively, you can buy BTC directly on the exchange, using euro, Ethereum, or other cryptocurrencies listed, like for example, Eidoo.

Obviously, if you want to buy BTC on Nexex, you will first need to deposit the necessary funds on the wallet of the exchange. If you want to pay euro you must proceed with a SEPA transfer.

Once you have BTC on the wallet of the exchange, you can place a purchase order of Grin with BTC, using one of the two functions situated at the bottom left under the graph: Limit or Market.

how to buy grin coin

[limit-market.png]

Using the Limit function, you can indicate the maximum bitcoin price you are willing to spend when buying Grin Coin whereas, using the Market function, the price will be defined by the market at the time of the trade.

You can get a lower purchase price with the Limit function, but there’s no certainty that the purchase will take place: in fact, if the price set is too low, it may also be impossible to find sellers willing to sell their Grin Coin at that price.

After having compiled all the fields in the Limit/Market form, it is sufficient to click on “Buy Grin Coin” to proceed with the purchase order.

As mentioned before, if the order is a market order it will be executed immediately, otherwise, in the case of a Limit order, it all depends on the availability of sellers on the platform.  

After sending the order, it will be visible in the section just to the right of the one in which the order was placed, that is the section of the orders in execution and those already executed.

[Orders.png]

Once the order has been executed, totally or partially, the purchased Grin Coins will be visible in your wallet inside the exchange, and the transactions will be visible in the Transactions History page.

[transactions.png]

At that point it will be possible to keep the Grin Coins on the exchange wallet or to withdraw and store them on an external wallet.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 25 thousand subscribers.

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