Cryptocurrencies are reshaping the global economy, and there are now thousands of different coins available, with more appearing almost every day. One of these new cryptocurrencies you may have heard of is Electroneum, the mobile-centric token. If it has managed to get your attention, you might be asking yourself “how to buy Electroneum with Coinbase”
There are two things you need to be aware of before you begin: first, Coinbase doesn’t list Electroneum, so you won’t be able to buy it there. Second, no exchange offers ETN/fiat trading pairs, so just like buying most other altcoins, you can only purchase Electroneum with other cryptocurrencies. This means that there is no way to buy Elecontroneum using a single account. But don’t worry. It’s not as hard as it sounds.
In this article, I’m going to show you how to buy Electroneum with Coinbase.
Buying Bitcoin or Ethereum at Coinbase
1.- I’m assuming you already have a Coinbase account if you don’t, you can create it here. It only takes 10 minutes and once you have an account you are ready to go.
2.- Login into your Coinbase account and click on “Buy/Sell”
3.- You can buy Electroneum with Bitcoin, Ethereum or Litecoin, so you can click on any one of those. However, since ETN/BTC and ETN/ETH trading pairs are available on way more exchanges, choose one of those.
4.- Type in the amount of Bitcoin or Ether you want to buy and then select the fiat wallet that holds your funds (USD or Euros, etc).
5.- After everything is in order, click “Confirm buy” to complete your order.
6.- Once your purchase is complete, you can see the Bitcoin or Ether you just bought in your Coinbase wallet. You can find your wallet by clicking the ”Accounts” tab on the upper side of the screen.
Ok, now we have our Bitcoins or Ethereum at Coinbase… What’s next?
Where I can buy Electroneum?
As Electroneum coin is a rather new cryptocurrency, there aren’t that many exchanges to choose from. You might decide to choose based on the trading pairs, market volume, fees or how well-known or secure the exchange is. As of writing, there are 16 exchanges listing Electroneum. Three of the best known are listed below:
Kucoin was founded in 2017 and is based in Hong Kong. There are 70 + different cryptocurrencies listed, including Electroneum.
Kucoin is a very popular exchange. Not only is the site pretty user-friendly, but it also offers really good fees; trades will cost 0,1% and there is no fee for deposits. There are, however, withdrawal fees. The percentage varies depending on the token you want to withdraw.
Kucoin also has very good customer service. Users can get support via telephone, email and live chat. This also scores it some points with the newbies.
Cryptopia is based in New Zealand and has been around since 2014. They list more than 500 different cryptocurrencies, which makes it one of the largest exchanges offering Electoneum.
Cryptopia does allow fiat currency trading, but only in New Zealand Dollars transferred from a New Zealand bank account. Users not based in New Zealand can deposit cryptocurrencies like Ethereum for free.
The trading fee is 0.2% on the coin you are selling.
Cryptopia doesn’t have any advanced features, which doesn’t make too popular among power traders. But it does make the site easier to use.
Support options are limited on Cryptopia. They do offer neither live chat nor phone calls. If you have issues, you will have to place a support ticket on their website.
Qryptos was created in 2017. It offers an array of advanced tools for expert crypto traders but is not the most newbie-friendly exchange.
Like the other exchanges, there is no support for fiat currency deposits, so you will have to fund your wallets with cryptocurrency.
Each trade has a fee of 0.15%.
The downside for Electroneum is that at the time of writing this article, Qryptos has a very low trading volume for ETN tokens, so you might want to consider using either Kucoin or Cryptopia.
So, if you’re a newbie, you can begin with Kucoin or Cryptopia, once you mastered both of these, you can take a chance on Qryptos and become a trade master!
Now we are ready to buy some Electroneum!
How to buy Electroneum
The favorite choice of many users is Kucoin, so I’m going to take you to step by step to buy Electroneum here (The process on Cryptopia and Qryptos are very similar, changing a few things here and there and adding new features for advanced traders).
Buy Electroneum with Kucoin
1.- First, you need to open a Kucoin account, it is super easy and doesn't take a lot of time. You can do it here
2.- Once you have an account, log in and go over the “dollar” icon and then click on the “deposit button”
3.- A good news here is that you will see a Kucoin Shares preselected (a good feature that allows us to move easily on the site) and then you just have to click on Bitcoin or Ethereum.
4.- After you have chosen Bitcoin or Ethereum, you will be asked if you’re sure you want to deposit the chosen asset. When you click confirm you will then be shown your Kucoin deposit address for the selected crypto.
Ok, now we’re almost ready, be patient and keep going.
5.- Now, you need to go to your Coinbase account, log in and go to the “Accounts” section and click on the “send button” for any of the cryptocurrency you have chosen.
6.- Paste your Kucoin deposit address (the one created in step 4) into the “recipient” wallet address box and enter the amount of crypto you want to withdraw.
7.- Click continue and finalize here. Your Bitcoin or Ethereum deposit will be shown on your Kucoin balance in a few minutes.
Now, it’s finally time to buy some Electroneum. Yai!
8.- Go back to the Kucoin page and select “Markets” Make sure you have selected the cryptocurrency (Bitcoin or Ethereum) you want to trade for Electroneum (ETN) and then just type in ‘ETN’ into the search field. Then you will see the market appear, just click it to be taken to the trading screen.
9.- In the black trading screen, you’re gonna need to enter your two-factor authentication code to start trading (you get this when you verify your Kucoin account).
10.- You will now be taken to the full trading screen. It might look complicated but don’t worry, you just have to enter the amount of ETN you want to buy in the “amount” box and click “buy”.
11.- Then your trade will be processed and your Electroneum will appear in your Kucoin account.
Yes! We finally have our Electroneum!
It seems like a long process but it’s not that hard. Once you have your accounts at Coinbase and Kucoin (Or another exchange) the process of getting your Electroneum is easy and quick.
Electroneum price prediction
When making an investment, whether in cryptocurrency or anything else, the big question is how much that asset will be worth in the future. Of course, no one knows this with absolute certainty. But a tool called technical analysis to make educated, calculated predictions. When doing technical analysis, one looks at how the asset’s price has behaved in the past and whether the amount of the asset that is being traded is going up, down or remaining stable. All this information allows one to try and predict the future. In the past, technical analysis was done by hand, with a fair amount of guesswork and gut feeling. Nowadays we have technical analysis software at our disposal. These programs take the available information and run it through some sophisticated mathematical algorithms to make predictions.
The uslifed.com website makes and publishes predictions based on technical analysis software. According to them, one Electroneum token should be worth around 0.74 USD by December 2019.
They say the main reasons Electroneum’s price will rise is that it is very easy to understand and use cryptocurrency with a fairly large number of supporters.
But uslifed.com’s predictions don’t end with 2019. They also made predictions for 2020. Electroneum’s price is predicted to be around 0.81 USD in early 2010 and about 1.10 USD by the end of the year. Doing the math, this means they are predicting that Electroneum will increase in value by about 500 times between now and December 2020. This makes ETN look like a very sound alternative for long-term investment. I, for one, am planning to purchase some and hold them waiting for that return on my investment.
See Also: Best Cryptocurrencies Under a Penny
Exchange USD to Electroneum
How much Electroneum is 1 USD?
According to walletinvestor.com, this is the conversion rate to the date.
You have now learned how to buy Electroneum with Coinbase, even if part of the purchase will need to happen off Coinbase itself. Electroneum is one of the emerging cryptocurrencies that are having some impact on the trader’s market nowadays. If you’re interested in doing some investment on this crypto, go on. For now, it seems pretty stable and secure.
As with many other cryptocurrencies, you can’t buy ETN directly with fiat currency. You need to buy some other crypto such as Bitcoin or Ethereum, which can be bought with USD, Euros, etc, on sites like Coinbase. This means that besides your Coinbase account, you will need an account on another exchange like Kucoin or Cryptopia. Having all that, the process is pretty straightforward. So go ahead, get some Electroneum and enjoy the ride! You can read some of our other crypto guides here.
Any questions or comments please leave below!