How to Buy Loom Network (LOOM) in Australia

A Step-by-Step-Guide on how to buy Loom Network (LOOM) in Australia

Step 1 – Signup to Coinmama

You will first need to buy one of the top-tier coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Follow the Link below to register and to get your Bitcoin (BTC) or Ethereum (ETH).

Binance Signup
Step 2 – Transfer Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange

Your Bitcoin or Ethereum has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. Loom Network (LOOM) is obtainable on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this how-to)

Make sure you've selected the right coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you are using a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our how-to).

Step 3 – Locate {Loom Network (LOOM)|(LOOM) Loom Network}

Once your deposit has been verified, you'll instantly have access to your assets and you can start purchasing and trading. To invest in {Loom Network (LOOM)|(LOOM) Loom Network} on Binance, you'll want to go to the ”Exchange” tab and then mouse click on “Basic”.

To locate {Loom Network (LOOM)|(LOOM) Loom Network}, you'll need to put the cointype (LOOM) into the search box, which is marked in the picture. Make sure you have selected the proper pairing, we've marked this too. Click on “LOOM/BTC” to continue.

{How to buy Coin on Binance 1|Binance How To Buy 1} Loom Network (LOOM)
Step 4 – Acquisition of {Loom Network (LOOM)|(LOOM) Loom Network}

After you've spotted {Loom Network (LOOM)|(LOOM) Loom Network}, you will be given a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the picture). Next we are making our own Limit Order.

The ”Price” field will be automatically filled with the up-to-date price {Loom Network (LOOM)|(LOOM) Loom Network} was sold for. You can change this to your desired price. The ”Amount” field is the amount of LOOM you wish to purchase. The ”Total” field is the whole price in Bitcoin that you'll settle for the whole amount of LOOM.

When you're glad, click on “Buy LOOM”. Your order will be filled when a Seller trades their LOOM for the price you offered.

Step 5 – Withdraw {Loom Network (LOOM)|(LOOM) Loom Network}

Unless you are frequently trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extensive period of time. To withdraw your {Loom Network (LOOM)|(LOOM) Loom Network}, go to the tab called “Funds” and mouse click on “Withdraw”. {Loom Network (LOOM)|(LOOM) Loom Network} can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find {Loom Network (LOOM)|(LOOM) Loom Network} by using the given drop-down box. Put into the volumen of {Loom Network (LOOM)|(LOOM) Loom Network} you would wish to withdraw. Take into account the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

If you are glad, click on “Submit”. You may be asked for phone/email verification before a take off.

Kudos! You have successfully purchased and stored Loom Network (LOOM) in Australia.

That's it!

Withdrawals from Crypto Trader can take between 1 – 30 minutes (depending on usage of the network). As soon as you have proved your withdrawal with Ethplorer.io or Etherscan.io and the {Loom Network (LOOM)|(LOOM) Loom Network} is safe inside your wallet, you're all done.

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