How To Buy Nano On Kucoin
Much like Binance, Kucoin allows you to buy Nano. However, Kucoin does not enable linking bank accounts at this time. Similarly to our Binance guide we advise users to purchase Ethereum on Coinbase and then deposit Ethereum into Kucoin in order to purchase Nano. Below Step-by-Step guide will explain you how to buy Nano on Kucoin in more detail. The guide was constructed showing users images of each step, also including safety best-practices.
Tick the “Accept Terms and Continue” box and click “next”.
Fill in your email, password and click “next”
Verify the email by clicking on the verification link in your inbox. (e.g. your Gmail or Outlook etc.)
Next, you will be recommended to setup 2FA (2 factor authentication). Download the “google authentication” app from your Android Playstore or iPhone App store.
After you have downloaded google authenticator from the app store (or play store) open the app on your phone and add the secret key provided by Kucoin.
Once you have added the secret key to your google authenticator you will be able to receive 6-digit verification codes. Enter the verification code from your google authenticator app into the Kucoin 2-step verification box and click on “Submit”.
Prior doing any transactions you must add security questions to your account. Add a “Safe” word that you can relate to. Then choose 3 security questions and add relevant answers.
After adding your security questions you will need to verify changes by clicking on the verification link sent to you by email. Once you clicked on the verification link you will be able to trade Ethereum for Nano. Please follow step 2.
Copy Ethereum Address
Next up, click on “Assets” then “Deposit” and then choose “Ethereum – ETH” from the “Cryptocurrency Selector” (“kucoin shares” dropdown menu).
You can now highlight your Ethereum (ETH) address and copy it. Hang on to it and follow step 3.
Coinbase will now send you a verification email which you need to verify by clicking “Verify Email Address” in your inbox (e.g. Gmail, Outlook, Yahoo etc.).
You will now need to provide your SIM/Phone number which Coinbase will use to send a verification code (message). Once you entered your SIM/Phone number click on “Send Code”.
Now, enter the verification code sent to your SIM/Phone (message) into the verification box and click “Verify”. You should now have access to your Coinbase dashboard.
Add Credit/Debit Card
Next up, from the Coinbase dashboard navigate to the “Buy/Sell” tab on the top left-hand side and click “Add a Payment Method”. Then proceed by clicking on the add “Credit/Debit” card option.
You will now have to provide one of the following ID’s: Passport, Driver’s Licence or Photo ID. Click on a document that you have at hand and take a picture of the front and back of the ID (using webcam or your phone). After uploading Coinbase will use automated ID recognition which should take less than a minute. If you run into problems follow this Coinbase Guide.
After successfully verifying your ID you will be able to link your Credit/Debit card. Do this by navigating from the Coinbase dashboard to the “Buy/Sell” tab (if you are not already there) and click “Add Payment Method” to add your Credit/Debit card.
Enter your billing address and click “Add Billing Address” which will bring you to the Credit/Debit card details form. Once you have filled in your card details click “Add Card” which will be securely processed by Coinbase.
Buy & Send Ethereum
You can now buy Ethereum (ETH) which you will use to exchange for Nano on Kucoin. Reason we choose Ethereum is that it has less transaction costs and faster transactions per second (tps) when compared to Bitcoin. To purchase Ethereum (ETH) head back to the “Buy/Sell” tab (if you are not already there) and click on the “Ethereum” tab. Enter the amount you would like to purchase and click on “Buy Ethereum Instantly”.
Next up, you will need to send your Ethereum (ETH) from Coinbase to Kucoin. Do this by navigating from the Coinbase “Dashboard” to the “Accounts” tab where you will see your Ethereum (ETH) wallet and funds.
Click on the “Send” button (under the funds section) and paste your Kucoin Ethereum deposit address you copied earlier in step 2 into the “Recipient” box. Specify the amount you would like to send and click “Continue”.
You will now be prompted by a security notice asking you to confirm your send request. Enter the verification code sent to your Phone/SIM (message) and click “confirm”. After you sent the transaction, your Ethereum will be broadcast to the Blockchain network. Since it is being cryptographically verified it can take between 4-7 minutes depending on Ethereum’s Network Status and the number of network confirmations required by Kucoin (e.g. 25 x 16 = ~400 sec. or 6 min.). Follow step 6 for further instructions.
Buy Nano On Kucoin
After your Ethereum (ETH) transaction has been processed head back to Kucoin and go to the Nano/Ethereum exchane by clicking on “Markets” -> “Globe Icon” -> “ETH Tab” -> and type “nano” into the currency box to filter the Nano pair (XRB/ETH).
Next, click on “Buy” then click on the “Ask” price (blue highlight) to buy Nano according to current market rates. Then specify the amount of Nano (formerly known XRB) you’d like to buy and enter your Kucoin 2-step verification code (2FA) and click “Buy” to execute the order.
After buying your Nano (welcome to the club!) you can check your balance under “Assets” -> “Overview” and typing “nano” into the currencies search box.
If you wish to withdraw your Nano, simply navigate to “withdrawal” and enter the recipient address into the “Address” box. Specify the amount of Nano you’d like to send -> enter your security answers -> enter your 2-step verification code and click “confirm”.
Store Nano Safely
The storage of your Nano depends on your situation. If you decide to trade short term (day trading) you can leave your Nano on Kucoin for further trading purposes. However, if you decide to use Nano for personal or business transactions we recommend storing your nano in a desktop/mobile wallet. If you decide to HODL (long term investment) than we recommend storing Nano using offline cold storage or Nano Ledger X (Amazon link below) as this would be the most secure option. Depending on your situation you may find nanolinks useful.