If you’re new to the cryptocurrency game and you just stumbled across this post, you should know how to buy DigiByte: the longest public blockchain (a decentralized storage and currency platform, aka vastly more private, efficient, and user-specific) currency in existence. If you’re not new to the cryptocurrency game then you know just the sort of badassery I’m talking about.
Don’t say badassery. What does that even mean?
Not sure, let’s go. Focused on security and targeting those of us that don’t want our personal shit all over the internet, DigiByte can be mined using five separate algorithms, and splices data across multiple users to create large pools of untraceable data. For those of you that are reading this and seeing a ‘WTF’ pop up above your head, think of a bank, and that bank doesn’t just have one vault protecting the money but five, and to crack through each vault you need to know the five different ‘vault languages.’ That metaphor got a little out of hand, but you get what I’m saying; it’s extremely secure.
That becomes incredibly relevant taking into account their $230 million dollar market cap, which is much larger than all of their competitors. Why? People trust their protection. If you’re like me and you want to get into cryptocurrency before the rest of the world realizes how important and efficient a decentralized marketplace is, then betting on DigiByte is like putting your money on Floyd Mayweather, despite who the fuck he’s fighting.
Not only that, but their ‘open policy’ platform allows for other programmers to contribute to their tech, creating a community out of all those people a lot smarter than us that also happen to want the best for us as well. Not sold yet? Does it sound like I’m just vomiting out pretty words and that I don’t really know what I’m talking about? I might not, but I’m pretty sure I do. Read on to see my breakdown of the coin, learn how to buy DigiByte, and read on to perhaps open a door to a new investment opportunity and a strong insight on where the internet is headed.
I. Create A Coinbase Account
First, you’ll need to get some Bitcoin, so tab to the Coinbase Signup Page. (If you use this link, we’ll both get $10 worth of free Bitcoin) Coinbase has the best UX & simplest registration of any marketplace I have used.
- Paypal & Credit/Debit are instant buys. However, until you submit a form of personal identification, you’ll be capped at $200 per week — which sucks. After they confirm your identity it’s pushed to $500.
- Bank Transfers are meh because of the 5-9 day waiting period for the fund transfer. Use this as a last resort, or if you don’t have a credit/debit card. Weekly limit is $2000.
II. Create A Bittrex Account
Bittrex is the marketplace where you will bid on your altcoins (fancy terms for coins that are not Bitcoin or Ethereum). Firstly, we’ll create an account — so tab to the Bittrex registration page.
III. Buy Some Bitcoin on Coinbase
I’ve had a handful of people ask me why I use Coinbase. Simply, I use it because the user interface is the best I have encountered in the crypto space — in addition to giving my readers $10 in Bitcoin when they sign up through me.
** Note, don’t be scared by the price of Bitcoin — you can buy fractions of coins. Feel free to message me if you’re looking to use another currency to begin buying Digibyte.
IV. Transfer Bitcoin to Bittrex
Now we’re going to move the Bitcoin you just purchased on Coinbase to Bittrex — a cryptocurrency marketplace. See the screenshots below to move your Bitcoin: (Click to open slideshow)
- First, head to Bittrex & find your Wallets tab. Search the currencies for “Bitcoin.” When you find Bitcoin, click the + icon to & generate a Bitcoin wallet address. Once you’ve done this, copy that long string.
- Now, head over to Coinbase. Then, you’ll find the Send/Request tab. Finally, paste the waller address into the input area.
- Choose how much Bitcoin you would like to transfer and you’re done!
V. Bid On Digibyte
Bam, you about to finally buy Digibyte. Head over to the Digibyte market page:
Here, you can see all of the realtime data on the price of Digibyte. When you see a price that catches your eye, scroll down to the buy section. You can set your bid price, select the max amount, and select the conditions in which you would like your transaction to take place.
You can select either the last price, the current bid price, or current ask price. Shoot me a message if you’re confused on the differences — but it should be pretty self explanatory.
Now that I’m a DigiBoy, what do I do?
Not sure, DigiBoy. All I know is now you know how to buy Digibyte, and essentially all other altcoins on the Bittrex exchange. What would I do? If you believe in the tech, buy into a considerable amount and then forget about them for a year or two. Never know what will happen.
Good luck & BasedGodspeed.