How to Buy Steem Dollars (SBD) in Australia

A Step-by-Step-Guide on how to buy Steem Dollars (SBD) in Australia

Step 1 – Join Coinmama

In the beginning you'll need to purchase units of the top-tier currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and getting your BTC (Bitcoin) or ETH (Ethereum).

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

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Steem Dollars (SBD) is available on Binance, so we will use that as an sample. Not sure on how to send Coinbase funds to an Exchange? (Follow this manual)

Make sure you've selected the correct coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Locate {Steem Dollars (SBD)|(SBD) Steem Dollars}

Once your deposit has been verified, you will instantly have access to your funds and you can commence invest and trading. To purchase {Steem Dollars (SBD)|(SBD) Steem Dollars} on Binance, you will want to hover over the ”Exchange” tab and after that click on “Basic”.

In order to discover {Steem Dollars (SBD)|(SBD) Steem Dollars}, you will need to put the short name of the asset (SBD) into the search box, which is highlighted in the graphic. Make sure you have selected the right grouping, we have highlighted this too. Click on “SBD/BTC” to proceed.

{How to buy Coin on Binance 1|Binance How To Buy 1} Steem Dollars (SBD)
Step 4 – Buying {Steem Dollars (SBD)|(SBD) Steem Dollars}

Once you have found {Steem Dollars (SBD)|(SBD) Steem Dollars}, you'll be given a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). For now we are creating our own Limit Order.

The ”Price” field will be filled with the latest rate {Steem Dollars (SBD)|(SBD) Steem Dollars} was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the amount of SBD you wish to purchase. The field with the “Total” tag is the total price in Bitcoin that you'll pay for the complete amount of SBD.

When you're satisfied, make a mouse click on “Buy SBD”. Your plan will be filled when a Seller trades their SBD for the price you introduced.

Step 5 – Withdraw {Steem Dollars (SBD)|(SBD) Steem Dollars}

Unless you are regularly trading, you should never keepyour crypto on an Crypto Exchange for an longer time period. To take off your {Steem Dollars (SBD)|(SBD) Steem Dollars}, hover over the tab called “Funds” and click on “Withdraw”. {Steem Dollars (SBD)|(SBD) Steem Dollars} can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate {Steem Dollars (SBD)|(SBD) Steem Dollars} by using the given drop-down box. Put into the amount of {Steem Dollars (SBD)|(SBD) Steem Dollars} you'd wish to take off. Take into account the presented minimus/fees. Also make sure you have filled your right withdraw address.

When you are satisfied, make a mouse click on “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.

Congratulations! You have successfully purchased and safed Steem Dollars (SBD) in Australia.

That's it!

Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you've proved your take off using Etherscan.io or Ethplorer.io and the {Steem Dollars (SBD)|(SBD) Steem Dollars} is safe in your wallet, you're all done.

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