In this tutorial, I would like to present a guide on how to buy $XRD in the cheapest way.
I have done this method countless times, and it always worked out pretty well.
Prerequisites:
Having an exchange account with Fiat/Crypto in it. I recommend Binance, since you can deposit fiat cheaply: EUR (1 EUR transaction fee) or USD (free or charge)
Having a Bitfinex account.
If you don’t have a Binance account yet you should create one. Here you can find the instructions for that: Support Center
In this tutorial we will use Binance, but you can use another CEX as well.
Steps:
Login to Binance. Go to Trade / Spot.
Search for XLM / USDT or XLM / EUR. If you would like to use the USDT pair, make sure to convert your USD to USDT here.
Buy as much as XLM as you wish by placing a limit order.
Go to Wallet / Fiat and Spot / Withdraw. Click on Withdraw. Select Stellar Lumens (XLM).
Sign in into your Bitfinex account in another window, and go to Wallet / Deposit / Stellar Lumens. Copy your address and paste it to the “Address” bar in Binance. Then copy your MEMO, and paste to the “MEMO” bar in Binance.
Complete the withdrawal. After a few minutes, your XLM will arrive in your Bitfinex account. Then go to Trading and search for XLM / USD pair in Bitfinex.
Sell your XLM for USD. After that, search for XRD / USD pair. Now you can buy XRD easily with placing a buy order.
Concluson: I like this way, because Stellar Lumens (XLM) is one of the cheapest currency to transfer. The whole process will cost you only a few cents, and it is relatively easy and fast (5-10 min).
Thank you this is good , there is also a video here that explains in detail how to buy on bitfinex for those who prefer video , also explains difference in xrd and eth version.
I buy with swissborg send to binance swap for xrp, then send to exchange account and boom, cant wait for radix to be launched on binance and for Guy to do a video in it
Connect your coinbase account to Coinbase PRO (this is a very important step, it allows you to bank wire without fees!! instead of the fees normal coinbase charges)
Deposite FIAT to your coinbase PRO account
Buy EOS (takes about 5mins to transfer but is completely free of transaction cost!)
Send the EOS to Bitfinex
Swap to your beloved XRD
Be very happy!
In the end this leads to overall fees of buying XRD of about 1%
I always use tron to make purchases I think it’s the cheapest gas fee solution. and the second reason is that we don’t need to write a MEMO to withdraw funds.
One of the problems in the community and it often happens is that when using XLM they forget to enter a memo and have to contact the support system to solve this problem, some of them lose their funds.
** Admittedly it’s a personal mistake but I personally say using tron is better because it’s easy and only need to enter address without memo and prices are relatively stable.
That’s a great guide, maybe I will try it next time. In my case, I simply transfer USDT from Binance to Kucoin, and then buy some ready to swap exrd with Instabridge. It seems that my method is not cheap as yours!
@Ratty: Thanks for the video, but this doesn’t show the steps just the result of it. @Wagtail: Thank you! It sounds great also, I wasn’t aware EOS transaction fee. This is probably a similarly good solution. @Dwiki: Yes, MEMO is very important and TRON can work as well. @andrea: Absolutely, USDT would be the most simple solution, but is not cheat at all compared this method, happy you give it a try!
What do you mean ? It shows each step how to send from binance to bit finiex, what wallet to use to exxhange and what tokens to send to get usd to trade for radix , which step was missed out ?
I don’t see the process of the buying in the video you linked.
One thing I didn’t mention: you can ofcouse buy Radix ($XRD) at many exchanges. (see /buy in the main TG channel for example).
The reason why we choose Bitfinex here because they let you withdraw XRD free to your Radix desktop wallet. (only the transaction fee has to be paid, which are cents)
