Nano, formerly RaiBlocks claims to bring a different approach to global transactions compared with Bitcoin. With the block-lattice concept that RaiBlocks implements, every account has its blockchain and every block has one transaction. Today we will teach you all the steps on how to buy Nano (XRB) on the KuCoin Exchange.
When a transaction is initiated, two operations take place, one from the sender and another from the receiver. Sending and receiving RaiBlocks coins doesn’t have to happen at the same time. The sender can send while the receiver is offline, and when the receiver is available, he creates the receive block. The transaction will only remain unsettled until the receiver comes online to do his part.
Steps on How to Buy Nano on KuCoin Exchange
The most massive volume of Nano (RaiBlocks) traded daily is done on the KuCoin Exchange. The following steps take you through how to go about purchasing your RaiBlock coins.
- The first step to trading other cryptocurrencies for RaiBlock on the KuCoin exchange is by registering an account on the platform. Click this link to visit KuCoin Account registration page to register an account now.
- Fill the registration form. What’s primarily needed is your active email address which you have access to, and also you choose a secure password (alphanumeric passwords for better security) that is easy for you to remember but difficult for anyone else.
- A mail is sent to the email address you just registered. You are required to log into that email address and click on the link on the body of the mail that leads to you activating your account on KuCoin. This feature is to ascertain the person who registered with the mail is the real owner.
- Clicking on the activation link takes you right into your account on the platform. If not, you are required to enter your email and password as it was entered during the registration process.
- When logged onto the platform, click on the DEPOSIT button on the page to send some to the KuCoin platform from an external wallet. If you do not have any, you can buy some on changelly, or coinbase with fiat, and then send to the KuCoin platform.
- First-time deposit enforces you use the Google Authenticator application to secure your account on the exchange. To do this, follow the instructions on the deposit page to install and set up the Google Authenticator plugin for your device.
- Now that you have a secured account, you can proceed to make the deposit. With recent high transaction fees and increased transaction time on the Bitcoin network, you might want to consider funding your account with some Ethers. This saves you more money that would be used in purchasing more of the RaiBlocks coins that spending that much for a bitcoin transaction.
Click on the drop-down arrow in front of the assets drop down box to select the ETH asset. This loads up your generated Ether address on the KuCoin platform. Copy this address to your external wallet to send some Ether cryptos to your KuCoin wallet, depending on how much value of RaiBlocks coins you want to purchase.
- Wait a moment for your transaction to reflect on a successful transfer. How fast your coins get confirmed depends on how much gas you use in sending that transaction. You should have your coins on KuCoin in 5 minutes.
- Once the deposit reflects, click the MARKET links on the page which is located at the top.
- Click on the ETH tab, or any other one if you have funded with any of the available options.
- Search with the search box above the asset section for XRB/ETH; this brings you the RaiBlock pair. Click on that to take you to the exchange page.
- At the bottom right of the page, you’ll see a box that prompts you to enter a code from the Google Authenticator application you just installed.
- To exchange your Ethers for RaiBlocks, click on the Best Price link in the Price field on the buy section of XRB/ETH pair, this should autofill that box with the best price you can buy the coin. Also, click on the Max link to fill the Amount box with the number of XRB you can purchase with your deposited funds. You can also manually enter the number of coins you want to buy.
- Finally, you can click on the BUY button.
Wait a while, and you should see your RaiBlocks coin credited to its wallet on the KuCoin exchange.
RaiBlocks can be stored in a variety of wallets depending on your choice. A web wallet, you can also download the RaiBlock wallet for your Linux, Windows, or Mac operating systems. Third party wallets for RaiBlock coins include RaiWalletBot and RaiWallet.