How To Buy ICON?
Looking for ICON (ICX)? Then hop on over to Binance. You can either choose to store them on the platform or withdraw them and keep them in a personal wallet. If you are looking to hold for Simple tokens longterm, then move them off the Binance platform. If you are new to Binance, carry on reading this article for a step-by-step guide on how to use this trading platform.
Where To Store ICON?
Within this guide, we will be making use of the easiest and most handy wallet for storing your ICON. MyEtherWallet (which can store any coin ERC20 Tokens, including ICON. For added security, we would strongly suggest using a hardware wallet such as the Trezor or the Nano Ledger. If you are holding more than 2 weeks wages, then you should definitely consider a hardwallet – who knows, maybe you earn big bucks so even half a week’s salary could be a decent chunk of change.
Sign-Up To Binance To Get ICX
Enter your email and a strong password (that you won’t forget!) and then Click ‘Register’. You will be sent an email to confirm your email address. Click the link in the email. If you can’t see it, then check your spam folder.
You will be taken back to Binance as your email is confirmed. Press ‘Login’. On the login form, enter the email and password you just used to sign up, then press ‘Login’.
A pop-up will advise you to set up 2FA (two-factor authentication) on your account. We strongly recommend you set up 2-factor authorization (2FA) on your account.this second level of security makes it very unlikely they will be able to get into your Binance account.
Adding Funds To Binance To Buy ICX
Hover your mouse over ‘FUNDS’ on the top menu and click on ‘Deposits Withdrawals’. This screen displays any coins which you have stored on Binance – you will need to deposit some. I would suggest using Ethereum due to the lower sending fees. However, you can deposit other coins.
Type ‘Ethereum’ in the search box. This will narrow the wallets displayed to just a few- in those, find Ethereum. Press ‘Deposit’ You will be given an Ethereum (ETH) deposit address. Make sure you have the correct address. If you send a currency to the wrong address, it will be lost forever. (The image below show LTC – this is for example purposes only).
Using The Exchange To Buy ICON
The exchange page on Binance might appear too much to handle to start with, but don’t worry, you only need to use a small part of it.
There are 2 methods for buying coins on Binance:
- A ‘Limit’ order, which enables you to manually set the price you want to buy ICON Coin at.
- A ‘Market’ buy, which fills your order automatically at the best price available. The price may have spiked at that time, so be careful not to overpay. If you like the price then go ahead and use this method. Above the Buy ICON’ button, click the ‘Market’ option.
In the input box marked ‘Amount’ you now need to fill out what number of ICON you want to buy. It could be simpler to use the percentage buttons below the input box – for example, press 50% if you’d like to exchange 50% of your Ethereum for ICON.
Once you’re satisfied with the quantity, press the buy button. Your order will be filled immediately.
Withdrawing Your ICON Tokens
If you’re happy with it, you can just leave your coins on Binance and they would in all probability be safe. On the other hand, exchanges have been compromised in the past, and users have lost coins, therefore we do suggest you keep them in a personal wallet. (The image below shows LINK coin – this is for example purposes only). Ensure you have selected ICON.
- Press ‘Funds’ along the top menu, then ‘Deposits Withdrawals’. In the search box, type ICON. You will now see your new ICON in your ICON wallet.
- Click the ‘Withdrawal’ button.
- In the boxes that appear, complete the information:
- Label: Write ‘My wallet’
- Address: Put the wallet address that you copied from your ICON wallet.
- Amount: Press the ‘Max’ button to send all your ICON.
When you’re positive all information is accurate (check you’ve inputted the correct wallet address!), press ‘Submit’. If you’ve set up two-factor authentication, you will be asked for a code from your phone. Enter it and press ‘Submit’. You will be sent an email to confirm the withdrawal. Go to your email and click the link that’s been sent to you. That’s it, you’re all done and ready to start trading.
More About ICON
The ICON Project endeavors to build a decentralized network that enables independent blockchains with diverse governances to transact with each other without the need of intermediaries. In essence, anyone will have the ability to create a new blockchain project and join the network, which will be free to interact with existing projects and build new unique worlds, together forming a blockchain multiverse and ecosystem.
ICON is a vision with a proven track record and has progressed beyond the initial concept stage. ICON already boasts communities comprised of reputable institutions – banks, securities, insurance, hospitals, universities, and more. A future with faster money remittance and frictionless value exchange of securities, medical records, academic data, insurance fees is their aim.
ICON Budget Allocation & Use Of Resouces
Key Statistics About ICON Tokens
Total Supply: 400,230,000
Circulating Supply: 200,115,000
ICO Price: $ 0.11