How do you purchase Electroneum on the Qryptos exchange?
In this article, I’ll explain how to:
- Create an account on Qryptos exchange
- Verify your account
- Deposit funds
- Buy Electroneum
- Withdraw Electroneum
Note that you’ll probably need a computer to do this. Qryptos’ website is impossible to use on a mobile device.
Step 1: Create an Account on Qryptos
First thing’s first. You’ll need to create an account with Qryptos.
To start, visit the Qryptos signup page.
Enter your email address, a new password, and your name and surname. Click Next.
Confirm that your information is correct, tick the “I agree with Terms and Conditions” box and then click on Next.
You’ll now be sent an email address with a link to confirm your account. Open your email Inbox, click on the link in the email from Qryptos and log in with the details you’ve just provided.
Step 2: Verify Your Account
Although you can deposit and trade on Qryptos without verification, you’ll need to verify your account in order to withdraw any ETN. So it might be a good idea to get it out of the way now.
In the top right-hand corner click on your email address and then Account Status: Pending.
You now need to upload two documents – 1) an ID, passport, or driver’s license and 2) a proof of address such as a utility bill, bank statement, or another official document that has both your name and address. You can upload either a scanned image or a PDF.
Tick the box at the bottom and click Submit Documents.
It should take about 3-5 working days on average to have your profile verified.
Step 3: Deposit Funds
In order to purchase Electroneum, you’ll need to deposit some cryptocurrency like Bitcoin or Ethereum. These can be purchased from sites like Coinbase, CEX.io, LocalBitcoins, or some other local Bitcoin exchange in your country.
To deposit cryptocurrency into your account:
Click on the Menu button in the top left-hand corner and click on Deposits and Withdrawals.
Choose the cryptocurrency you want to deposit in the left-hand panel. This will most likely be Bitcoin, but you can also send Litecoin, Bitcoin Cash, or Ethereum to save on sending fees.
Make sure you choose the correct cryptocurrency on the left!
Send your Bitcoins to the address given (or scan the QR code with your Bitcoin wallet app).
Note! Don’t send your coins to the address in this image, else it will be added to Electroneum101’s account! Send it to the address given in your own Qryptos account.
You’ll now need to wait for the transaction to confirm in the blockchain. Your account will be credited with the correct number of Bitcoins when confirmation is completed.
Step 4: Buy Electroneum
Once you’ve deposited funds into Qryptos you can now buy Electroneum. Qryptos currently pairs Electroneum with Bitcoin, Ethereum, and Qash, so you’ll need one of those in order to buy ETN.
To buy Electroneum, click on Markets next to the Qryptos logo in the top left-hand corner.
Type in ETN in the search box in the top right. You’ll now see all the markets that list Electroneum.
Choose the market you want – most likely ETNBTC which trades Electroneum and Bitcoin.
This will open the ETNBTC market. On the, right you’ll see the current and historic Electroneum price in Bitcoins at the top. The middle column allows you to buy ETN and also shows pending sell orders. The left column allows you to sell ETN and also shows pending buy orders.
To buy Electroneum, we need to complete the form at the top of the middle column. Click on the first sell order below the form to insert the price into the Buy Price box. This is the best price currently available.
Now type in the amount of ETN to buy in the Amount to Buy field. Make sure that the number in the Debited field is less than your current Bitcoin balance (seen in the top right corner of the form).
Click on Buy ETN.
Review the details of the order and click Confirm Buy Order.
Your order will now join the order book. You can see all your orders (pending or filled) at the bottom of the page.
If your order does not get filled immediately and you want to change it, you can click Cancel button next to order at the bottom of the page and start the process again.
Step 5: Enable 2-Factor Authentication
I do not recommend leaving cryptocurrency on an exchange. Although they take a lot of precautions to secure your account, there is always the possibility of a hack, which could rob you of your coins.
In order to withdraw ETN, you’ll need to verify your account (using the steps in Step 2 above) and enable two-factor authentication.
To enable two-factor authentication, download the Google Authenticator app to your phone. Then in Qryptos, click on your email in the top right-hand corner and then Security: 2FA is Not Yet Enabled.
Click Enable Two Factor Authentication.
Finally, scan the QR code provided with your Google Authenticator app and enter the 6-digit code given to you buy the app.
Step 6: Withdraw Electroneum
Now we can finally withdraw ETN!
This is quite a lengthy process the first time, but it’s all for the safety of your coins. So bear with me…
The click on the Menu icon in the top left-hand corner and click Deposits and Withdrawals.
Choose ETN in the left-hand column. If you don’t see ETN, click on Accounts at the top middle of the screen and tick the box next to ETN.
We’re now going to complete the form in the Withdraw section.
In the Address (ETN) field, click on Add ETN Adress. Enter the Electroneum wallet address to which you would like to withdraw to, together with the authentication code given to you by the Google Authenticator app. Finally, hit Add ETN Address.
Qryptos now needs to verify the address. You’ll be required to open the email sent to your inbox and enter the code it provides in the Confirmation Token box. Then click on Verify ETN Address.
Now, back in the Withdraw form, enter the amount of ETN you’d like to withdraw. Note that the minimum withdrawal is 300 ETN.
The Payment ID depends on where you send the ETN to. Sending to a paper wallet or to the Electroneum online wallet won’t require a Payment ID, while sending to another exchange will probably require one.
Finally, enter the Authentication code given in your Google authentication app, and hit Submit Withdrawal Request.
And you’re done!
Experiencing problems? Let me know in the comments so we can all learn from one another.