How To Buy Ocean Protocol (OCEAN). Step by step guide
How To Buy Ocean Protocol
With blockchain technology picking the hype and more and more decentralized networks popping up, data finally seems to have the right security. The Ocean Protocol is a similar project that provides an ecosystem for the rising data economy. This platform also consists of services associated with data and other currencies. With a token-based system in play, the Ocean Protocol securely provides a medium for storage.
Ocean Protocol brings together a well-stitched decentralized network that operates on transparency. This network allows its users to share data freely with guaranteed transparency, traceability, and strict privacy along with other data-related services. This network functions on a very simple system that credits the users and provides services accordingly.
This network provides a token system that offers other services like data, storage, computing, and other algorithm-based activities. Ocean Protocol is as transparent as it gets, they have a set of accountable proofs on availability and integrity that serve as verifiable service exchange.
Step 1– The Ocean Protocol works on the same concept of many blockchain technologies today, and hence the first thing you would have to do is to get a few BTCs. If you do not have any BTCs, then the first step here would be to open an account in any exchange (preferably Kucoin or Coinbase).
Step 2- After your account has set up, navigate the trade button, and click to begin trading. Since Ocean Protocol can only be purchased with a Bitcoin (or cryptocurrency), so buy the BTCs and transfer them to the KuCoin exchange. The Kucoin exchange is one of the easiest exchanges and is extremely user-friendly.
Step 3– After you have transferred your funds to Kucoin, it might take about half an hour for the transaction to complete. Once the transaction is done, you can sign in to Kucoin and click on the “Markets” button on the top left corner. Then go to the coin search bar on the right side of the screen (where it says COIN HERE). Type in the name “ticker” (OCEAN) in the search bar and then narrow the search to BTC coins only. The Ocean coin will be under the name “OCEAN/BTC,” click this option to proceed in the further transaction.
Step 4 — After locating the Ocean Protocol (OCEAN), a price chart will appear in front of you. If you further explore the page, you can notice an Order Books on the far right end of the page. Users can set their own limit orders accordingly. Follow the highlighted section in the depiction below.
You will notice the “Price” section to be empty, one can either click on an order from the order book or can also manually enter the desired bid/price. The “Amount” box is the total amount of OCEAN you would wish to purchase. You can either enter and trade from your own account as well as the amount you are withholding; you can change them in the % section. Under the “Amount,” you will notice another box that says “Volume,” this is the total price in BTC that you will be paying for OCEAN.
Step 5- After looking at the rates and prices, you can finally click buy and purchase the Ocean Protocol. It is always advisable to withdraw the coin from the exchange and transfer it to a safe wallet elsewhere.
Ocean has an unending potential for a safe and legitimate method of data usability. New users are investing and trading every day, and as a result, a new decentralized network has been added to the list of the numerous ones popping every day, shaping future networking and security.
Creat KuCoin account here
Published at Fri, 07 Feb 2020 05:51:16 +0000
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