You want to buy and sell Sonm? This guide will help you to buy or sell Sonm.
After successful registration you have to login to Binance. After you have clicked on the menu item „Login“, a kind of puzzle appears, where you have to insert the missing piece of the puzzle with the help of the slider (Figure 2 – Spam protection). After we have inserted the missing piece of the puzzle, we get to the start screen.
Verify with Binance (not)
Binance* is one of the few exchanges that does not require complete verification. However, you cannot deposit Fiat currencies such as Euro, CHF or Dollar. You can only deposit crypto currencies.
After registration you will have level 1 status. Level 1 status means that you can withdraw coins with a maximum value of 2 bitcoins per day. If you wish to increase your daily withdrawal limit to 100 Bitcoins, you must provide your personal information. The front and back of your identity card and a selfie with your identity card in your hand are required.
No crypto currencies yet?
You cannot deposit FIAT currencies (EUR, CHF) at Binance. Therefore you need crypto currencies, which you can deposit. If you do not yet have any crypto currencies, you have the following options:
You can find a complete overview and reviews of stock exchanges at bitcoinboerse.info.
Exchange Office Bitpanda
A step-by-step guide to the Bitpanda exchange office can be found here.
A step by step guide to Coinbase can be found here.
Buy instructions with PayPal
Deposit crypto currencies at Binance
To make a deposit, click on „Medium“ in the Binance menu and on „Deposit“ in the drop-down menu. Now you have to choose which coin you want to deposit (Figure 3).
Select the crypto currency you would like to deposit and have the deposit address displayed. You can now deposit your digital currency into these (see Figure 4). In this tutorial I will deposit the digital currency Ether.
Buy on Binance Sonm
After your coins arrive at Binance, you can start buying Sonm. To do this, click on the „Stock Exchange“ menu item and then select the „Traiding Pair“. Otherwise you can exchange directly for the following crypto currencies:
If you have not deposited any of the top currencies, you must first exchange your deposited currency for one of the top coins to buy Sonm.
To buy Sonm now, you must first enter the desired quantity in „Buy SNM“ (Figure 5). You can set the price per SNM here. If you do not do this, the market price will be used.
After you have set the quantity and price, you only have to click on „Buy SNM“. After a few seconds you should receive a confirmation for the purchase. You can find the Sonm you just bought in your Binance online wallet after shopping.
Sell on Binance Sonm
To sell Sonm on Binance, you must first deposit it into Binance (see Figure 3). As soon as the deposit has been credited, you can sell your coins on the exchange (under „Exchange“) for the offered crypto currencies.
Transfer Wallet for Sonm | Sonm to your own Wallet
You should always transfer digital currencies to your own wallet. Stock market hacks are not uncommon with crypto currencies. Therefore use your own and secure wallet.
To withdraw Sonm, click on „Medium > Withdraw“. Then select your coin, enter your withdrawal address and the desired quantity below and click on „Send“.