If you have any interest to buy Mysterium (MYST), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
1.2 Fill in your trading details
1.3 Allow 2FA-Two-factor authentication (Optional)
Step 2: Buying your first Bitcoin (BTC)
I highly recommend buying Bitcoin first and then trading it for the right amount of Mysterium (MYST).
Step 3: Transferring Your Cryptos to an Altcoin Exchange HitBTC
Now, let me show you how to purchase Mysterium (MYST) using your investment from Binance.
However, not every crypto can be traded in Binance we need to transfer our coins to an exchange that Mysterium (MYST) can be traded.
So let me guide you to HitBTC which is famous exchange to trade altcoins. We will use the link below to register your new account.
Once you have completed similar processes as we’ve done before with Binance we are ready to transfer our Bitcoins.
Step 4: Depositing BTC to Exchange
After creating your trading account setup at one of the exchanges that trades Mysterium (MYST), you will need to transfer your BTC from Binance to that specific exchange.
You will do this through a wallet system. Deposit BTC to hitbtc Click to “Deposit” from the top right menu. You will see BTC top on the currency list. Then, click deposit button and copy the given “Deposit Address”
This part may be difficult but don’t worry, it is easier than a bank transfer. Then copy your unique BTC wallet address and go back to Binance.
Then, move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Spot (Deposit & Withdrawal)”.
Look for BTC in the list and click on “Withdraw” on the right hand side. Then, paste the deposit address you just copied from the other exchange and select BTC as the transfer network.
Type the amount that you want to withdraw (you may click the Max button if you want to withdraw all). Next, click on the Submit button to begin with the withdrawal process.
To continue with the withdrawal, Binance request for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That’s all you need to do, now you should wait for a while so that the blockchain to confirm your transaction.
Step 5: Trading Mysterium (MYST)
Now you need to go back to Bitmax to buy Mysterium (MYST) with the Bitcoins you sent.
Then, move your mouse over to trading and then click standard under cash trading. Next, in the left column make sure to select “BTC” pair and in the search bar type in “MYST”.
After you move your coin click on it and now you will see a price chart of MYST/BTC in the middle of the page. Select the “Market” tab as that is the most straight-forward type of buying orders.
Or choose to either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons.
After you have confirmed everything, click “Buy MYST”. Now you own your MYST!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Mysterium gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Mysterium securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Mysterium for some long time, you need to find ways to ensure it stays safe safe,
Frequently Asked Questions
Is it possible to buy Mysterium with cash?
The answer is No. Because there is no way you can directly buy Mysterium with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
What are the quickest ways I can buy Mysterium while living in Europe?
Can I use alternative platforms to purchase Mysterium or Bitcoin with credit cards?
What is Mysterium Network?
Mysterium Network is building the world’s largest P2P network to power Web 3 privacy applications. An open source, Swiss-based company founded in 2017, Mysterium is rewiring the internet so it’s secure, free and accessible for all. Mysterium held a token sale through which it raised $18 million USD.
The network is transparent and permission-less by default, made up of layered VPN protocols, blockchain and smart contracts. It lays the groundwork for all kinds of next-gen services to be built on top of it, including Mysterium’s flagship product, the decentralized VPN app.
This dVPN plugs into Mysterium’s global network of residential nodes, one of the fastest growing online communities decentralising the web. This open marketplace allows anyone to become a node and rent their unused bandwidth and IP address to those in need. Individual users can choose from providers located all around the world, allowing them to unblock content, and making them resistant to logging, surveillance and cybercrime. Users pay nodes for providing VPN services in MYST, the network’s native token and reserve currency.
What is MYST?
MYST is the utility token at the heart of Mysterium Network. This cryptocurrency acts like digital fuel, powering various functions and applications while keeping the network secure and decentralized.
If you’re using the dVPN as a consumer, you pay with MYST token. If you’re a node (provider of the VPN service) you receive MYST. When you first sign up for the network, users need a little MYST to receive and verify their unique identity. Once you receive your unique ID/address, you can start to receive and send payments. Mysterium has designed its own unique P2P payments infrastructure, the Hermes protocol, to facilitate these fast, anonymous and censorship-resistant micropayments.
MYST is an ERC-20 token with addition of ERC-2612 (the
permit function), which was introduced with the DAI token and popularized by the Uniswap team.