What is Ark?
Ark is more than just a cryptocurrency; it’s a blockchain technology for developers and startups with innovative blockchain ideas. They aim to create an ecosystem of linked chains and a virtual spider web of numerous use-cases. A more detailed article about this can be found here.
How To Store Your ARK ?
Currently, Ark has got their wallet running on all operating systems for PCs though they are now working on the Ark wallet for mobile devices. Currently, only the Ledger Nano S hardware wallet supports Ark cryptocurrency. You can download the latest Ark wallet for your PC version at Ark’s official site.
How to Get Ark Cryptocurrencies Into Your Wallet
There are two major ways of being an Ark holder; you either buy from someone who has got some to sell, or buy from an exchange.
There are quite some exchanges you can trade other cryptocurrencies for Ark and fiat, but we’ll review how you can exchange Bitcoin for Ark on the Bittrex Exchange which second most used for trading Ark as seen on CoinMarketCap.
To trade your Bitcoin for Ark, you need to follow the following steps:
- Create a Bittrex account if you don’t have one.
- Send some Bitcoins to your Bittrex Exchange account.
- Buy Ark with your Bitcoins.
- Sending your Ark from your Bittrex Exchange account to your wallet.
Step 1: Create a Bittrex account if you don’t have one
- It’s effortless creating a Bittrex account on the Bittrex exchange. You need to click on the Register link on the platform and fill in a valid username and a secure password to get on board.
- Click on the link sent to your email to verify your account.
- When successfully logged onto the platform, click on “Settings” link at the top right corner of the screen.
- At the “Settings” section, you need to verify your account as this is required to withdraw your Ark cryptocurrencies from the Bittrex platform after the purchase.
Step 2: Send some Bitcoins to your Bittrex Exchange account
- Locate “Wallet” at the top right tab of your Bittrex account when logged in.
- Search for Bitcoin/BTC and click on the “+” in front of it.
- Allow a moment for a wallet address to be generated. The generated address is where you send your value of Bitcoin to depending on how much Arks you want to purchase.
- After a successful transfer from your bitcoin wallet, leave some time for the value of bitcoin you sent to reflect in your bitcoin wallet on Bittrex.
Step 3: Buy Ark with your Bitcoins
- When your Bitcoin has been successfully transferred, it should reflect the same value of bitcoin you sent from your Bitcoin wallet in the “Wallet” section of the platform.
- To see all market assets on the Bittrex platform, click on the Bittrex logo.
- Locate and click on the ARK/BTC assets to open the page where the exchange takes place.
- At the “Trading” section of the page and in the Buy Ark box, enter the Ark amount you want to purchase in the unit box. Make sure you add 0.025 to whatever you are buying as this is withdrawal fee paid to Bittrex to process withdrawals. It would be charged when you transfer your Ark out of Bittrex to your external Ark wallet.
- Click on the price drop down and choose bid option in front of bid label.
- Once the total price field auto fills, click on Buy Ark button at the bottom of the section.
Step 4: Sending your Ark from your Bittrex Exchange account to your wallet
- Go to the top right corner once again and click the “Wallet” link.
- This time, you click the “-” symbol by Ark.
- Copy and paste your Ark wallet address from the Ark wallet installed on your PC to Bittrex address field.
- Enter how many Arks you are sending, you can check how many units of Ark you own to send all.
- Click on the withdrawal button.
These are the most important steps that you need to do in order to buy and store your ARK cryptocurrency.