How To Mine For Siacoin SC Cash
Oct 11, 2017 Hi guys, Today we talk about, How to mine siacon, a profitable crypto to mine. Siacoin is crypto which is very easy to mine with your desktop/GPU/Laptop.
You will now see your wallet 'seed' and 'password'. If you chose not to input your own password, these will be identical. It is very important to back up these pieces of information somewhere safe and private. They are the key to your wallet. If anyone gets ahold of this information, they can access your wallet too. Note: the seed and password in this image are for example only.
Do not use them yourself. Once you have the seed and password safely stored, click the button 'I have written these down in a safe place'. Press the 'sign up' button and fill out your name (make sure this is exactly how it's written on your photo ID), email, password and location. Just like a US bank, Coinbase is regulated by the US government, and has to follow strict financial rules.
So they take verifying your identity very seriously. It's a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency. To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy. Click 'Quick buy'. In the first input box, write how much money you want to spend on Bitcoin.
In the first drop down menu, select your currency. For example USD is US dollars, GBP is Great British Pounds etc. Then in the next drop down select the country you're in. If you wish to buy Bitcoin without needing to provide any ID, click the check box beside 'ID not required'.
Please note that this may limit the numbers of sellers, and may be a more expensive way to purchase Bitcoin. In the final drop down menu you're given a wide range of buying methods. You can choose to look for sellers that accept Paypal, bank transfers, Amazon gift cards etc. - or just choose to look at all options. Once you're happy with your selections, press Search.
You'll be given a list of sellers matching your criteria. Beside their user names you will see the number of transactions they have done on the site (e.g. 1000) and their feedback (e.g. 100% positive).
You will also see the payment methods they accept, the price they're selling Bitcoin at and any limit to the amount they will sell in one transaction (for example, they might have a lower limit of $50 and an upper limit of $10,000 for a single transaction). Choose which seller you'd like to use and click 'Buy'. On this page, read the terms of trade with your selected user. Make sure you're happy with them.
Pay attention to the opening hours- are they open right now? Also pay attention to the 'payment window'- this is how long you have to pay after sending the trade request. If you're not ready to send the payment within that time frame, don't continue. Once you are ready, input the amount of Bitcoin you'd like to buy in your chosen currency. You may be limited to a smaller amount as this is your first time using LocalBitcoins- your limit will increase as you get positive feedback.
You may choose to write a message to the seller, but this isn't required. Press 'Send trade request'. Depending on the market, your order may be filled immediately (meaning, your Bitcoin was instantly converted to Siacoin) or your order may be waiting for enough Siacoin to become available at your chosen price to fulfil your purchase request. To see if your order is still active, or has been partially filled, click the 'orders' button on the top menu of Bittrex. If your order is showing, you may choose to cancel it and attempt to purchase at a different price, or simply let the order sit to see if it's filled. When your order has been filled- you can proudly say you're the owner of your own Siacoin! If you're comfortable with it, you could just leave your coins on Bittrex and they would probably be safe.
However, exchanges have been hacked in the past, and people have lost coins, so we do recommend you keep them in a personal wallet. Here's how: Click the - (minus) sign beside the Siacoin wallet and it'll bring up a screen for you to input your withdrawal details. Put the wallet address that you copied from Siacoin (in step 9) into the box labelled 'address'. In quantity, we would suggest doing a small test transaction of a couple of coins to be sure everything is working correctly. Press 'withdrawal'. It will take a few minutes for your Siacoin to transfer. Buyingsiacoin.com and its affiliates make the information in this web site available as a service to its customers and other visitors, to be used for informational purposes only.
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