Buy Bytom Cryptocurrency by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about What is Buy Bytom Cryptocurrency.
What Is Buy Bytom Cryptocurrency?
Bytom (BTM) is next-generation cryptocurrency, developed and supported by 8btc – one of China’s first blockchain communities. Bytom was launched in October 2017 on the Ethereum network with the aim of connecting the world of atoms with the world of bits. It allows different byte-assets and atomic assets to be registered, exchanged, and engaged in other contract-based operations on the Bytom blockchain.
Bytom is an interactive blockchain protocol for multiple assets that has three-layer architecture: application layer, contract layer and data transmission layer. It features the Power-of-Work (PoW) algorithm that is compatible to AI ASIC-chips.
How to buy Bytom Cryptocurrency?
Although this coin is listed on a number of major cryptocurrency exchanges, currently it is not possible to purchase it directly with U.S. dollars. In fact, you can only buy BTM coin directly with fiat (Chinese Yuan) at Chinese exchange OEX. That is why would advise investors seeking to acquire Bytom to purchase Bitcoin or Ethereum first on a trusted exchange and later exchange it for BTM coins.
1. Open an account with Coinbase
We recommend this exchange because it is suitable for newbies: it has very simple interface, accepts traditional money, and is licensed and trusted. The biggest advantage of Coinbase is that you can buy Bitcoin or Ether instantly with a credit or debit card.
2. Deposit some money.
Before you do that, you need to verify your identity, which is a standard procedure at all exchanges dealing with fiat currencies.
3. Exchange it for Bitcoin or Ether.
Of course, before you deposit at Coinbase, you need to undergo verification. Otherwise, Coinbase’s platform is very user-friendly, so you won’t have any problems with the trade.
4. Sign up with an exchange that supports Bytom.
It seems that the most popular ones are Huobi, Gate.io, Bibox, OKEx. Choose the one that is best for you. Below, you can find detailed reviews on most exchanges that offer trading in BTM coins.
5. Transfer your Bitcoin or Ether from Coinbase to that exchange.
6. Exchange your Bitcoin or Ether for Bytom.
Once you have your Bytom coins, we advise you to move them from the exchange and store them in your own wallet for security reasons. You can use MyEtherWallet, MEW, or hardware wallets made by Ledger, among others.
In addition, there is yet another option for investors who are interested in Bytom: to trade it in the form of Contract-for-Difference (CFD) with a forex broker. This is easier, as you only speculate on the BTM’s price movement. Besides, you don’t get to own any BTM coins, so all the wallets and private keys hassle is avoided. In addition, many of the brokers that offer trading in cryptocurrency CFDs are reputable and well-regulated, while the majority of exchanges are still in the gray area. However, they are focusing mostly on the largest and most popular coins and none of them supports Bytom yet.
How to Buy Bytom Cryptocurrency Conclusion
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