How to Buy Symbol (XYM) | Beginner's Guide
NEM was developed by a vibrant community on Bitcointalk and launched in the spring of 2015 under the banner "New Economy Movement". Symbol is a rebirth of the NEM enterprise blockchain, building on the best of its features and making NEM 2.0. The core token for the Symbol platform is XYM.
For a deep dive into Symbol read our primer What is Symbol?
HOW TO BUY SYMBOLBelow is a quick summary getting the XYM token:
- Get a Coinbase account for Bitcoin
- Choose an exchange
- Transfer Bitcoin to exchange
- Purchase Symbol (XYM) token
- Transfer XYM to wallet for secure storage
STEP 1. Get a Coinbase Account
Sign up at ---> Coinbase (Get $10 in credit with this link)
Once you have Bitcoin in your Coinbase account go to Step 2.
STEP 2. Choose an Exchange
Below are the top exchanges that are currently open for withdrawal and deposit and open for trading on their platform. This list will change, and is not an exhaustive list.
STEP 3. Transfer Bitcoin to Exchange
In this tutorial we will be using Kucoin.
US customers are able to use Kucoin with a 5 BTC/daily withdrawal limit.
We will first need to log into Kucoin.
Next, select asset BTC for deposit. Copy that address and transfer your Coinbase BTC to Kucoin.
STEP 4. Buy Symbol (XYM) token
Now that we have our BTC, go to Spot Trading to exchange BTC for XYM.
(Be sure to move your BTC from your Main account to your Trading Account).
Select XYM/BTC and place an order to buy XYM. Ideally you want to place a limit order at the price you want to buy.
STEP 5. Transfer XYM to Wallet
Now that we have XYM. We need to move it off exchange into the official XYM wallet.
Download and install the latest release of the wallet: Symbol desktop wallet.
(Be sure to checksum SHA256 the file before installing)
We won't go into how to setup the wallet, if you need help go here to setup an account.
Your wallet should look like below.
Click to copy your address so we can paste into Kucoin.
Now back to Kucoin where we go to the withdraw page.
Enter your new Symbol address into the withdrawal page. Click Confirm Withdraw
In just a short time, your XYM will deposit in your Symbol wallet!
You can use the Symbol block explorer to verify your tokens.