We’re going to examine Siacoin in this article. What is Siacoin is another popular question on Google. Siacoin can be purchased online or offline. Continue reading to find out what Siacoin is and how to purchase it on Binance and Kraken.
What Is Siacoin?
A low-cost, open-source cloud storage solution that offers encryption and decentralized file distribution is called Siacoin, which runs on the SC token. Private keys are controlled by users, guaranteeing that no third parties can access or manipulate their stored files.
With the help of this system, regular people can rent out any extra storage space they have (like the hard drive on their home computer). This implies that a highly redundant, entirely private, and reasonably priced replacement for traditional cloud storage can be made by thousands of people around the world. When using Google or Amazon, you won’t need to worry about privacy concerns while also saving money.
New users do not need to sign up, servers cannot crash, and there are no third parties to rely on. Users who rent out their storage space can earn the SC coin, which covers storage costs for users.
Why Buy Siacoin?
Using Sia requires Siacoin (SC), which is essential for using the platform’s services.
Users of Sia must purchase this right using SC in order to store files on their hard drive. People in SC are paid for renting out their extra space in return.
Where Can I Buy Siacoin?
There are numerous ways to purchase SC. However, a lot of people discover that buying it on a reliable international exchange like Kraken is the simplest option.
Kraken consistently ranks as one of the world’s most secure and reliable cryptocurrency exchanges, in addition to having the lowest fees in the market. This is important because it may be difficult, if not impossible, to get your money back if you lose the private key to your SC.
How To Buy Siacoin?
1. Check Coinmarketcap To See Where You Can Buy Siacoin
A list of available purchases (also referred to as market pairs) is provided for each cryptocurrency by CoinMarketCap. Go to CoinMarketCap and look up Siacoin. In close proximity to the price chart, click the “Market” button. You can see a comprehensive list of Siacoin retailers as well as the currencies you can use to buy them in this view. You can see the abbreviation for Siacoin, SC, as well as a different currency, under “Pairs.” It is possible to buy Siacoin using the second currency. If you want to purchase SC using U.S. Search SC/USD for the dollar.
2. Pick A Platform To Make Your Purchase
Security, dependability, and liquidity levels vary between platforms. Do your research prior to creating an account.
3. Make The Purchase On Your Chosen Platform
Every platform has a unique method of operating. Some platforms are very user-friendly, while others are not.
In general, buying cryptocurrency with a fiat currency like the U.S. Instead of using another cryptocurrency, using dollars will be simpler.
If you must buy Siacoin with another cryptocurrency, first create a wallet that supports Siacoin, then purchase the first cryptocurrency, and finally use that cryptocurrency to purchase Siacoin on the platform of your choice.
The majority of platforms offer guides if you get lost. If not, there is a thriving community of cryptocurrency enthusiasts who have probably posted guides on YouTube, Twitter, and other websites.
On The Binance Website, How Do I Purchase Siacoin?
Step 1: Register for a free account on the Binance website or mobile app.
It is possible to purchase cryptocurrency through your Binance account. You must first open an account and provide identification verification before you can purchase Siacoin (SC).
- Register via the Binance App
- Register via the website using your email
- Register via the website using your mobile number
Step 2: Select the Siacoin (SC) asset you wish to purchase.
To view the available options in your nation, select the “Buy Crypto” link in the top left corner of the Binance website navigation.
A. Credit/Debit Card
B. Bank Deposit
C. P2P Trading
D. Third Party Payment
Step 3: Register for a free account on the Binance app or website.
To confirm your order at the current price, you have one minute. Your order will be calculated again based on the current market price after one minute. Click Refresh to view the updated order total.
Step 4: Use or store your Siacoin (SC) on Binance.
Now that you’ve purchased cryptocurrency, you can either hold it in your Binance account or store it in your personal cryptocurrency wallet. Additionally, you can exchange it for other cryptocurrencies or stake it on Binance Earn to generate passive income.
How To Buy Siacoin On Kraken
To begin buying SC on Kraken, follow these steps:
- Join the Kraken community.
To protect your account, you should first enter a valid email address, a new username, and a strong password.
- Verify your account.
You can buy SC with cryptocurrencies like ETH and DASH after providing your name, date of birth, country of residence, and phone number. Utilizing money (i.e. Additional supporting documentation proving your identity is required to be given to our experts (in USD, EUR, or CHF). Click here to read more about our verification procedures.
- Deposit cash.
You have a variety of options for funding your account. Your location and preferences will determine how you accomplish this.
- Purchase SC!
You can buy SC once your account has been funded with cash. At this point, you’ll also have access to our cutting-edge charting tools, around-the-clock customer service from anywhere in the world, and the ability to use spot trading on margin*, all of which contribute to the popularity of the Kraken experience among millions of traders worldwide.
The Siacoin (SC) token is unquestionably a profitable investment option in the future. According to the short-term Siacoin (SC) price prediction, the coin will trade at a price of approximately $0.014 on average by 2023 and will increase by 122% from its current price by the beginning of 2024. So purchasing Siacoin could be a wise investment.