Two: Make Your First Purchase Of Bitcoin Or Ethereum At Coinbase
Now you should be ready to make your first purchase of Bitcoin or Ethereum that you will then use to buy BEAM .
As I mentioned at the beginning of this guide, Coinbase makes it very easy to start investing in cryptocurrency. All you need to do is head over to your BUYS pages and select the currency you wish to purchase.
Since I’m not a licensed professional and the cryptocurrency market is so volatile, deciding between which one to invest in based upon value will be up to you. What I can tell you is that the majority of exchanges that offer investing in BEAM will allow you to purchase using Bitcoin .
Next select your funding source .
And click BUY.
NOTE: When you make your purchase of BTC or ETH you will notice that Coinbase has a small fee . The nice thing is that they alert you before you make your purchase of the total purchase price.
CONGRATS! You are now an investor in cryptocurrency.
Why Is Kriptomat The Best Place To Buy Beam
We work diligently to provide the lowest fees possible, and your entire transaction is completely transparent meaning no surprise charges.
Kriptomat is 100% compliant with all government regulations and is fully licensed under EU legislation. Rest easy knowing youre in good hands.
Want a lot of crypto? SEPA bank transfers offer a cost-effective way to fund your account for large crypto purchases
Cant wait to buy? Purchase crypto instantly at any time with a credit or debit card.
Kriptomat is designed to provide the most comprehensive yet easy-to-use trading experience on the planet. We accomplish this by actively listening to our customers and working to deliver exactly what they want.
Everybody deserves crypto. Our entire platform including the website, mobile app, documentation, and support are all available in more than 20 different languages.
Three: Use Your Bitcoin Or Ethereum Investment To Purchase Beam
Now it’s time to purchase BEAM using your investment from Coinbase.
Since Coinbase only allows for the purchase of Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, you will need to transfer your BTC or ETH investment to another cryptocurrency exchange. I know this sounds painful, but it really isn’t.
Right now you can buy BEAM at a good number of cryptocurrency exchanges including Binance.
Once you have your specific currency’s wallet ID, head back over to your Coinbase account. Since I don’t want to miss any steps in this important process, .
Now you play a short waiting game as your transfer has to go through the cryptocurrency ecosystem and be confirmed multiple times. There is nothing on your end to do except wait for this to happen. Depending on the day this could take 5 minutes or even up to a few hours.
The good news is that in your Coinbase account they give you a link to track the transfer.
Once your transfer has been confirmed it should show in your exchange’s account and will be immediately ready to be used to buying BEAM .
If you purchased Ethereum at Coinbase, you are going to want to look for the BEAM/ETH investment.
For Bitcoin look for BEAM/BTC.
If BEAM doesn’t have an investment option using the currency you purchased as Coinbase, don’t worry. All you need to do is trade into the specific currency.
Let me reiterate, I am not a licensed professional so I can’t give you any investment advice on how to handle the next step.
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Choosing The Best Cryptocurrency Exchange For Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with Beam:
allows users in 49 states within the US
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
- Trading Pairs: 1118+
IMPORTANT! Once you are registered to any of the above, find the BTC/BEAM or ETH/BEAM trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.
What Does It Mean For You
- Deposits You can deposit BEAM from Binance wallet to WazirX.
- Trading You can buy, sell, trade BEAM in our USDT market. When you buy BEAM, it will appear in your Funds.
- Withdrawals You will be able to withdraw BEAM in a few days after the listing.
Dont worry, youll be able to deposit/withdraw BEAM from other wallets very soon. Read more about the Rapid Listing Initiative here.
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Start To Trade Beam On Binance
Since you have funded your Binance account, its time to buy your first Beam .
To go to the trading page, click on the Binance logo on the upper-left side of the website.
In this example, we will purchase BNB with BTC. Choose BTC Market and input BNB in the search box.
You will be routed to the display of the transaction of Binance. Scroll down and to Buy.
Refer to the Beam price on the left. Choose a right sale price of BNB and enter the number, then click the Buy BNB button.
Congratulations! You have bought your first Beam on Binance.
By Step Guide On How To Buy Beam Cryptocurrency
To purchase BEAM on the majority of the cryptocurrency exchanges, you will already need to have Bitcoin or Ethereum to trade with. The good news is that you can easily purchase either cryptocurrency at Coinbase using your Credit Card or even Bank Account.
NOTE: There are other places to purchase BTC and ETH online, but I’m going to focus this guide using Coinbase as it’s the easiest to use for new investors in cryptocurrency.
Recommended Reading: How To Get Crypto Airdrops
Question: Why Is Beam Using Equihash Mining
Answer: Equihash PoW mining algorithm is well adopted by miners globally. Equihash is based
on solving a Generalized Birthday Problem. It is IO bound, meaning that it requires quite a large
amount of memory as opposed to Bitcoin’s SHA256 that requires a lot of processing power.
Equihash is built in a way that does not allow easy tradeoff between processing power and
memory thus making it difficult to use with ASIC miners that existed at the time of its creation.
Today there are dedicated ASIC miners that can mine Equihash ten times more efficiently than
Question: How does compact blockchain work? Is data actually deleted from the blockchain?
Answer: No data is ever deleted from the blockchain, since a blockchain is append only by
definition. What a compact blockchain means is that information needed to validate the entire
blockchain is much smaller than the complete list of transactions. The user wallet, a new node
connected to the system, or an existing one that does not want to store all the information can
only download block headers and current state to verify the entire blockchain.
Question: What is the performance of BEAM in terms of number of transactions per second?
Answer: We do not have exact numbers yet. However it is safe to say that it will be slightly
better than bitcoin and existing privacy coins. Having said that it is important to emphasize that
the performance will not be high enough for BEAM to be used as means of exchange. Which
Buying Your First Bitcoin
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didnt allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Beam .
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
Also Check: Where To Buy Bitcoin Miner
Depositing Btc To Exchange
If you have already created your trading account setup at one of the exchanges that trades Beam , you will have to transfer your BTC from Binance to that specific exchange.
You will have to use your wallet system. mxc assets, just move your mouse over to Assets on the top right and click My Assets. Find BTC from Token section and copy the given Deposit Address
This part may be little bit difficult but dont worry, it is easier than a bank transfer. After you have copied your unique BTC wallet address go back to Binance. Then move your cursor to Wallet on the right hand side of the topbar and once the popup shows up, click on Fiat and Look for . Then find BTC in the list and click on Withdraw on your right. Then, paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Next, type the amount that you want to withdraw .
Also, click on the Submit button start the withdrawal process. To continue with the withdrawal, Binance may request you for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
Thats all you need to do, then wait shortly so that the blockchain to confirm your transaction.
Take Your Finances Into Your Own Hands
Many people who choose to buy BEAM with credit card instantly are going to keep the altcoin in their usually-hardware wallet. This way, the asset belongs to them, and them alone – since the altcoins arent being kept in some bank or other centralized institution, theres no risk of them being lost due to a sudden bankruptcy or a financial crisis.
Also Check: How To Keep Track Of Your Crypto Portfolio
Beam Price Performance Over Time
Historical prices compared with the price of US$0.612299.
You can cash out your BEAM with the same exchange you bought it through:
Perks Of Buying Beam With Fiat
If you want to buy Beam, one of the best ways to do so is with fiat money, meaning with a credit or debit card. When you buy cryptocurrency with fiat money, the process is going to be much faster and – more importantly – simpler than doing so with another cryptocurrency. You don’t need to already own crypto, the buying process is very easy, it usually requires no account creation & minimal KYC verification. By buying your Beam with a credit card, you will receive instant confirmation & lightning fast payouts.
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Using A Vpn While Signing Up To And Using Binance International
Unfortunately Binance has barred US citizens from using their international exchange. Instead Binance has built a US based exchange- but it does not allow the purchase of Beam.
Fortunately there is a workaround.
You can use a VPN that makes you appear to be accessing the internet from a different country.
It is strongly advised you use a secure paid-for VPN: you are dealing with money afterall. But if you really don’t want to you can find the best free VPN software at Techradar.
It’s very important to note that you must use a VPN EVERY time you access Binance international, otherwise it may be detected that you’re in the US and your account will be locked. If your account is locked you may not be able to withdraw any cryptocurrency you have stored in it.
Once your VPN is set up, follow this guide to buy Beam on Binance.
Transferring Your Cryptos To An Altcoin Exchange Mxc
Now let us see how to purchase Beam using your investment from Binance.
However, know that not every crypto can be traded in Binance we need to transfer our coins to an exchange that Beam can be traded. Therefore, I will guide you to MXC which is a perfect exchange to trade altcoins. We will use the link below to register your new account.
Once you have completed similar processes as weve done before with Binance you are now ready to transfer our Bitcoins.
Read Also: Should I Sell My Crypto
Trade Bitcoin For Beam Using The Binance Exchange
The exchange page can look overwhelming at first but don’t worry, you’re only going to use a small part of it.
There are two ways of buying Beam- a limit order and a market buy :
A ‘Limit’ order
A limit order lets you manually set the price at which you want to buy Beam .
In the ‘exchange’ section of the page select ‘limit’.
Enter the price you want to pay for Beam in the ‘price’ box.
Then enter the amount of Beam you want to buy in ‘amount’.
You will be told the total amount of Bitcoin the order will cost. Press ‘buy BEAM’.
Note: your order will only fill if the price of Beam reaches the price you set.
A ‘Market’ buy
A market buy fills your order automatically at the best price available.
In the ‘exchange’ section of the page select ‘market’.
In the box marked ‘amount’ fill in how many BEAM you’d like to buy. It may be easier to use the percentage buttons below the input box- for example, press 50% if you’d like to exchange 50% of your Bitcoin for BEAM.
Once you’re happy with the amount press the green button marked ‘buy BEAM’.
Your order will be filled immediately.
Congratulations- you now own some Beam!
In the future if you decide to sell your Beam you can do so easily by using the same ‘limit’ or ‘market’ method, but using the ‘sell’ option instead.
Where To Buy Sell And Trade Beam Aka Beam
You can basically use debit card, credit card, or even PayPal to buy the Beam . However, the transaction wont be direct. Its not like you pay with cash and you get the Beam as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Beam. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
Read Also: How To Buy Bitcoin Using Bitcoin Atm
What Can You Do With Your Beam
Whether youre an experienced trader or this is your first purchase, Kriptomat makes the buying process simple with a choice of payment methods.
Or, if you prefer, HODL . BEAM is a powerful speculative investment tool, so many customers buy and hold in the hopes of gaining massive profits.
Selling your BEAM on Kriptomat is easy, and we provide all the tools you need to optimize your exit strategy. Withdraw your funds/profits to your bank at any time.
Want another crypto? You can easily exchange any portion of your BEAM balance for another cryptocurrency of your choice.
What To Do After You Buy Beam
The greatest thing about buying Beam is that you can do all sorts of different things with it, all depending on the goals you want to achieve.
Once you buy Beam with a credit card, the most common thing to do is trade your Beam on a cryptocurrency exchange. Depending on the exchange you register on, you can usually choose between hundreds of different cryptocurrencies for trading. In order to have the best experience, its really important to choose the most suitable crypto exchange for you – take a look at which crypto exchanges are rated as the best in the game.
If you buy BEAM with a thought of holding it in hopes of increased value, a highly-secure wallet is a must. There are three main types of cryptocurrency wallets: paper, software & hardware. Hardware wallets are the most recommended out of the bunch, because they offer high-security & anonymity levels, and you can store multiple cryptocurrencies at once. The safest hardware wallets can be found in this expert-made list.
Since the cryptocurrency phenomena is gaining momentum and its fanbase is growing rapidly, its no wonder that more & more retailers are integrating crypto as a payment method. So, if you choose to buy Beam with a debit or credit card, keep in mind that you can now spend it with a lot of online stores and vendors. The biggest pros of paying with crypto are simplicity of the transactions & high levels of anonymity.
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