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Monday, October 3, 2022

How to buy Siacoin on SimpleSwap

Hi guys and welcome to the simple swap cryptocurrency exchange! In this video, we will guide you on how to buy Siacoin in just a few simple steps using our platform. So let’s roll! First, let’s take a closer look at Siacoin. Sia is an open-source decentralized storage platform secured by blockchain technology.

The project was launched in 2015 to promote and safeguard user’s freedoms and to bring decentralized storage built on blockchain technology to the mainstream without sacrificing price or performance. The developer’s long-term goal is to become the backbone storage layer of the Internet. Sounds cool, right? Siacoin is definitely worth your attention. Ready to get some SC? Start with selecting the coin that you want to exchange in the You send section using the drop-down list.

You can also use the search bar: just start typing the name of the cryptocurrency or its ticker. Next, enter the amount you would like to exchange. Now select Siacoin in the You get section. You can also use the search bar. After that, you will see the estimated amount of SC you will receive. Please note that there is a minimum amount for every exchange. Do not send any amount less than the minimum one.

Then you need to enter the Recipient’s SiacoinAddress. Be extremely careful and double-check your Siacoin address. Your SC coins will be sent to this address right after the exchange. Alright, now all the necessary details for the exchange are entered. Once again, make sure that all the data is correct.

If everything is ok, click the Exchange button, and you will be forwarded to the exchange page. At this stage, the status of your exchange is”Waiting”. Here you will see the address to send the indicated amount of Litecoin to continue the exchange. You can use the QR code to speed things up.

After we have received the deposit to our address and the transaction has the required amount of confirmations – the status will be indicated as “Exchanging”, which means that your exchange is in progress. While our system is sending you Siacoin, the status changes to “Sending”, and you will only have to wait for a little for the coins to reach your address. Now, that’s it! Your exchange is completed and you can see the indicated status as Finished.

Read More: Filecoin FIL vs Siacoin SC 2021

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