How to Buy PotCoin (POT) ?
Buying PotCoin is very easy these days. If you want, you can use cash, card – even PayPal! However, you still need to follow a few steps to do it – that’s why we made this easy tutorial for you! It is separated into parts – just follow the one that matches your purchase method.
How to Buy PotCoin with Credit Card or Debit Card?
No matter what people say, it’s easy to buy PotCoin with a credit card.
Your first step will always be buying Bitcoins or Ethereum with your credit card. They can then be converted to PotCoin.
Follow these steps:
- Buy Bitcoin or Etherium at an exchange you like.
- Transfer Bitcoin or Etherium to an exchange that supports PotCoin currency.
- Finally, exchange Bitcoin or Etherium to PotCoin.
Please follow our step by step guide bellow to buy PotCoin.
1. Create an Account on Coinbase
To buy Ethereum from Coinbase – which you will exchange for PotCoin (POT) later – you have to create an account at Coinbase. Click this link here to create an account .
Click ‘sign up‘ button and fill out the form. Enter your name (it has to be exactly the same as it’s written on your photo ID), email, password and location.
Coinbase is regulated by the US government and follows strict financial rules. As such, they have to verify your identity. It takes some time and effort, however, this makes Coinbase the reputation of the must trustworthy way to convert regular currency into cryptocurrency.
Verify The Coinbase Account
Since Coinbase needs to verify your account, you have to give them your phone number, upload an image of your photo ID and verify your card (credit or debit) or back account. Only then will you be able to buy cryptocurency.
If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It is cheaper to use bank transfers, but it is slow – it can take up to a week to get your coins.
When your payment details are verified, click ‘buy/sell’ button on the top menu.
Select ‘Ethereum’, and enter how much money you want to spend/how many coins you want to buy in the windows on the bottom of the page.
Once you have done that, click the ‘Buy‘ button.
You will now have to confirm you purchase.
Do this by pressing the ‘Confirm Buy‘ button.
You now own some Ethereum. However, don’t close Coinbase yet – we’re going to use it later!
2. Open An Account In An Exchamge That Accepts PotCoin (POT)
Now that you have some Ethereum, you to find a place to exchanged it for POT.
Here is a list of online exchanges where POT is traded:
Exchanges are listed in the descending order of trade volume (that is, how much trading happens on those sides).
3. Transfer Ethereum from Coinbase to Exchange
After you have opened an account at one of the exchanges from the above list, you should find your ETH wallet address.
The details of finding the address can be different depending on the website, but it’s usually easy and simple.
Make sure that you get your “deposit” or “receiver” address.
Copy/write down your ETH wallet address for the next step. (The adress (Your own unique address of course, not the address above!)
4. Transfer Ethereum To Your New Wallet
Transfer Ethereum from your Coinbase account or any other account/wallet where you keep your ETH to the receiver/deposite ETH address from the step #3.
5. Exchange Ethereum for POT
When Ethereum appear in your new exchange account (it may take a few minutes), you are read to trade it for POT in the new the exchange.
The process of trading depend on the exchange, but it’s largely similar across the platforms.
Generally, you will want to find the POT/ETH trading pair and “place an order” to buy POT with your ETH funds.
The order can work immediately – any delay is usually because the exchange is trying to find enough “sell” orders to fulfill your “buy” order.
Congratulations! You are now the proud owner of some amount of POT!
Secure PotCoin (POT) Hardware Wallet:
Cryptocurrency Exchanges are always on hackers radar, so it’s always safer to keep your cryptocurrency in a wallet.
Ledger Nano S
- Supports Multi-Currency
- Built-in Display
- Multi Apps
- Backup & Restoration
Frequently Asked Questions
Can I Buy PotCoin With PayPal?
You cannot directly buy PotCoin with PayPal at this time. If you wish to use PayPal, you will have to buy bitcoin first and then exchange bitcoins for POT by using a service like Binance.
Can I Buy POT With Cash?
You cannot directly buy PotCoin with cash. Even if some ATMs support PotCoin, they are less than 1% of all cryptocurrency ATMs.
If you want to buy with cash, you will have to buy bitcoin first and then exchange bitcoins for POT using a service like Binance.
Can I Buy PotCoin With Bitcoin?
Yes, you can do that easily by using Binance to exchange bitcoins for PotCoin.
Can I Buy POT With Skrill
Europeans can use BitPanda to buy bitcoins or ethereum with Skrill. Ethereum or BTC can then be converted into PotCoin on Binance.
Can I Buy PotCoin With Ethereum
Yes, you can do that easily by using Binance to exchange Ethereum for PotCoin.
Which is the best payment method to use?
The cheapest way to do it is to buy bitcoins with bank account (or PotCoin directly with bank account) and exchange the BTC for PotCoin.
The fastest way is to buy PotCoin with a credit card, but you will be charged higher fees.
How Can I Protect POT Once I Purchase It?
You should store your PotCoin in a secure wallet. Leaving PotCoin on an exchange just puts you at risk of losing money if the exchange gets hacked. Your account could also get hacked, which is why it’s important to use 2FA.
How Can I Sell PotCoin (POT)?
Binance and Changelly are good places to exchange your POT to any other cryptocurrency. If you want to exchange it to regular currency, trader POT for bitcoin and exchange BTC into dollars, euro, or other currencies.
Can I Mine PotCoin Instead Of Buying It?
You cannot mine PotCoin as it has a different network structure than Bitcoin. You can only purchase PotCoin from an exchange.Where and How to Buy PotCoin (POT)? The Best and Trusted Exchanges for Buying or Trading PotCoin (POT)
How to buy PotCoin online in the UK
PotCoin is a cryptocurrency designed specifically to allow users to buy and sell cannabis products without the need of banks to facilitate the transactions. This guide shows you how to buy PotCoin in 2020.
Compare where to buy PotCoin, and open an account
Read on to find out more about PotCoin and how it works or skip ahead to our step-by-step buyers guide if you’re ready to buy PotCoin.
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
What is PotCoin?
PotCoin was launched in 2014 and was one of the original forms of digital cash aimed at the Cannabis industry. Initially created by entrepreneurs and developers based in Montreal, PotCoin was designed to solve issues with banking for buyers and sellers of legalised marijuana.
Trading PotCoin is peer-to-peer and completely independent of banks and clearing houses. The aim of PotCoin is to unite people who want to buy and sell legalised cannabis products and give them an industry-specific cryptocurrency to do just that, and now there’s even a PotCoin ATM in Colorado.
How does PotCoin work?
PotCoin started life as a fork from Litecoin and the two cryptocurrencies were almost identical until the PotCoin developers made some slight adjustments and increased the maximum cap of coins available to 420,000,000.
As it came from Litecoin, PotCoin initially used a script-based proof of work algorithm, but this has now been changed to a proof of stake velocity algorithm, which is a better model as it rewards ownership of PotCoins in the form of interest.
How to buy PotCoin online – step-by-step guide
Step 1. Get a suitable wallet
It might seem easier to keep your PotCoin funds in the exchange, but it’s much safer to use a hardware or software wallet. As PotCoin increases in popularity, the number of compatible wallets also increases, so it’s a good idea to check a few out before committing. To get you started, here are a few of our favourites:
- PotCoin Wallet: This is the official PotCoin wallet so it has to be our top pick, and as it’s compatible with Windows, Mac OS and Linux, it’s a great all-rounder and should be the first place you look when considering which wallet you want to use.
- Coinomi: One of the oldest and most reliable multi-chain wallets, Coinomi is compatible with PotCoin and offers desktop and mobile versions, and as they’ve never been hacked or compromised, they are one of the most trusted and dependable wallets out there.
- Coinbase Wallet: As well as offering an exchange and developer API, Coinbase also provides a compatible digital wallet you can use to store your PotCoin funds.
Step 2. Find an exchange to buy PotCoin
When looking for a PotCoin exchange, there are a few things to keep in mind. Firstly, you want to look for an established exchange that you can trust and secondly, you want to make sure you won’t get stung by unnecessary fees. Here are a couple of our preferred exchanges for PotCoin:
- Coinswitch: This slick-looking exchange has a great interface and is simple to use even if you’re a beginner, it is one of the better places to buy PotCoin. They accept fiat currency in the form of US dollars and Euros and aggregate offers from other exchanges so you can find the best price for your PotCoin.
- Potwallet: Another great place to buy PotCoin. Potwallet was designed with PotCoin in mind, so you won’t have any problems buying your PotCoin here.
Step 3. Withdraw your PotCoin
While it may be tempting to leave your funds in the exchange after you’ve paid for them, we recommend you withdraw them at your earliest convenience. The exchanges are more secure than they used to be, but it’s still a lot safer to store funds in a hardware or a software wallet on your desktop or on your phone.
How to trade PotCoin – step-by-step guide
You won’t need a digital wallet if you only want to trade PotCoin as you’ll be speculating on the fluctuation in value rather than buying funds.
Step 1. Find a broker
Right now there aren’t many cryptocurrency brokers out there that will allow you to speculate on PotCoin so you’ll need to do some digging.
Step 2. Deposit money
As with any cryptocurrency, you’ll need to deposit funds before you can start trading. Some brokers accept fiat currency – usually USD but sometimes EUR and GBP. If that’s not the case, then you’ll need to buy Ethereum or Bitcoin (and in some places you could buy Litecoin) and use that.
Step 3. Decide how you’d like to trade
Once you’ve found a broker and deposited some cash, you’ll find that there are two main ways to trade cryptocurrencies. these are Spread Betting and CFDs. While they do have some significant differences, they both involve speculating on fluctuations of the value of your chosen cryptocurrency. If you’re just starting out, it’s worth doing some research on the difference between the two methods.
Step 4. Start trading
Before you start trading, it’s worth setting up a demo account to get to know the trading platform and find out how things work. A demo account will also give you a good idea of how wildly the value of certain cryptocurrencies can fluctuate, so you can see first hand how money can be made and lost very quickly.How to buy PotCoin online in the UK PotCoin is a cryptocurrency designed specifically to allow users to buy and sell cannabis products without the need of banks to facilitate the transactions. ]]>