You are reading “How To Buy CKB” If you are new to all these, first, what is CKB?
What Is CKB?
The Nervos Network is an open-source public blockchain ecosystem and collection of protocols creating the foundation for a universal internet-like public network. Using Nervos Network means;
Access to any asset, any Blockchain
Choose your interface, choose your crypto and stick with it, but still access the entire space. The frustration of multiple wallets, exchanges, and seed phrases is no more with Nervos.
Operate dApps from any wallet or solution
Feel the power of Universal Apps as you navigate every one of them from your chosen solution. Nervos brings the dApp ecosystem to you, and your wallet.
Code with flexibility, bring dApps from anywhere
Build on Nervos and have the ability to target any Virtual Machine (VM). Port your dApp across with ease and instantly have access to the entire blockchain
The Nervos Network is being built by a team of developers with deep roots in the crypto space. We are a diverse group with backgrounds in engineering, cryptography, token economics, and community building – currently more than 95+ people across the world.
Why Nervos Network?
The Nervos Network is making blockchain applications universal, offering unparalleled user reach and uptake. Nervos is decentralized and sustainable, intent on bringing you to the next step in blockchain evolution.
Secure and Decentralized
Optimized Nakamoto consensus secured with ASIC-backed Proof-of-Work for maximum security and decentralization.
Sustainable Store of Value
Sustainable crypto-economics with a built-in store of value mechanism to solve some of the biggest sustainability challenges for public blockchains.
Layer 1 built for Layer 2
Unlimited flexibility and scalability through built-in, working, Layer 2 solutions on top of the powerful Nervos CKB Blockchain.
How To Buy CKB?
Perhaps you’ve read my CKB Price Prediction and you feel it’s a good token to add to your portfolio. But you might have these questions;
Where To Buy CKB?
How To Buy CKB? Keep reading, you’re on the right track!
Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article, I’m going to walk you through in detail the steps you can use to buy CKB on one of the most commonly-used fiat-to-crypto exchanges, Coinbase. Register on coinbase to proceed to the next step.
Buy BTC with fiat money
After you might have been done with the KYC process. You will be prompted to add a payment method. This is where you can add either a debit or credit card or use a bank transfer. If you choose to use cards, you will be charged higher fees, but it’s also kind of the fastest way because the purchase will be instant. Using bank transfers will be cheaper, but at the same time, slower, compared to using debit/credit cards. However, it depends on your country of residence as some countries offer cash deposits with little fees.
Now you are all set, click the ‘Trade’ button at the top left, choose Bitcoin, and confirm your transaction…and congrats! You’ve just made your first crypto purchase.
Transfer BTC to an Altcoin Exchange
But you’re not done yet in successfully buying CKB, since it’s an altcoin, you need to transfer your bitcoin to an exchange where you can be able to trade it for CKB. In this case, we will be making use of Binance, the largest cryptocurrency exchange platform. Use the link below to register your new account.
Binance is a popular cryptocurrency exchange that was started in China but then moved its headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
After going through a similar process as we’ve done before with Coinbase, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.
Deposit BTC to exchange
Depending on the terms and policies of the exchange you’re using, you might be prompted to go through another KYC Verification process. This shouldn’t take more than 30 minutes, or in some cases, a few days. The process is straightforward and easy to complete, and once you’re done you will have complete access to your exchange wallet.
If this is your first time making a crypto deposit, the screen here may look a bit scary. But don’t worry, it’s basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying ‘BTC address’, this is a unique public address of your BTC wallet at Binance and you can receive BTC by giving this address to the person to send you the funds. Since we are now transferring our previously bought BTC on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard.
Now head back to Coinbase, go to the Portfolio page, and click on BTC on your asset list, then click on ‘Send’ on the right.
Paste the wallet address you copied on Binance and paste it under the recipient field. Make sure you make no mistakes, make sure the wallet address is corresponding. It’s very possible that a computer malware alters the content in your clipboard into a different wallet address entirely, thus leading to you transferring your coins to another person entirely.
Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to Binance!
Go back to Binance, then go to ‘Exchange’. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let’s get our heads around this.
In the right column there is a search bar, now make sure “BTC” is selected as we are trading BTC to altcoin pair. Click on it and type in “CKB”, you should see CKB/BTC, select that pair and you should see a price chart of CKB/BTC in the middle of the page.
Below there is a box with a green button that says “Buy CKB”, inside of the box, choose the “Market” tab here as that is the most straightforward type of buying order. You can either type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click “Buy CKB”. Boom! You have finally bought CKB!
And now, you know How To Buy CKB and also Where To Buy CKB. How much worth are you planning to buy? Do you think it’s a viable investment? Let me know your thoughts!
We recommend using hardware wallet,