In case you have heard of the very promising altcoin SparkPoint(SRK) and you got interested in investing in it before it hits Binance somewhere in 2021, I put together a very easy step-by-step guide on how to buy SparkPoint SRK for you.
I found this to be the quickest and easiest way on how to buy SparkPoint SRK. It was a bit of a hassle to buy SparkPoint until it got listed in KuCoin a couple of days ago. This makes things a lot easier!
I personally have been using KuCoin a couple of times in the past, yet my favorite exchange to deposit funds to is Binance. I choose Binance because of its safety and good reputation.
But don’t worry, I’ll guide you through each of the steps.
Table of Contents
- Step 1 – Create a Binance account and deposit funds
- Step 2 – Creating a KuCoin account
- Step 3 – Transferring USDT from Binance to KuCoin
- Step 4 – How to buy SparkPoint SRK on KuCoin
- Where to store SparkPoint
Step 1 – Create a Binance account and deposit funds
The simplest way to buy SparkPoint SRK is to deposit some funds to Binance and then transfer them to KuCoin using the USDT token. This allows us to transfer funds using a stable coin with minimal fees.
Once you have signed up, you have a couple of choices, the easiest being Bank Transfer (SWIFT) or Credit Card. In this tutorial, I cover the Credit Card way.
Once you are logged in to Binance, select Buy Crypto → Credit/Debit Card.
Once there, choose how much money you want to deposit. As coin, choose USDT. USDT is a stable coin, that means it will hold the value of the US Dollar and is not subject to price drops.
In this example I use 100$ as a deposit value, you can see that it will end up being $98,51 after fees.
After clicking on Buy USDT, you will get asked to verify your identity if you haven’t already done that. I recommend doing that. The process is quick and easy, you will just be required to enter your Birth Date and Address.
Next you have to enter your Credit Card details. Clear enough. Just follow through the process and once it’s finished, you should have the amount of USDT that you have chosen in your Binance wallet.
Step 2 – Creating a KuCoin account
Step 3 – Transferring USDT from Binance to KuCoin
To buy SparkPoint SRK, we need to finally transfer our USDT from Binance over to KuCoin. We are almost done!
Step 3.1 – Kucoin
On KuCoin navigate to Assets → Main Account from the top right navigation bar.
In the Search field type “USDT“, then click on Deposit on the right side.
Now an important step. Make sure to select TRC20. This ensures that we pay the lowest fees and that Binance supports the transfer protocol! The fee to transfer 100$ USD from Binance to Kucoin using the TRC20 protocol is around 1$, compared to 20$ with ERC20.
Click to copy your Tether Address.
Step 3.2 – Binance
Now head over to Binance.
Select Wallet → Overview from the top-right navigation bar. Then click on Withdraw.
Now let’s walk through each step.
1 – Select USDT as your Coin
2 – Enter your KuCoin Wallet Address that you have copied in the previous step
3 – Select TRC20 as your protocol (!!!)
4- Enter the desired amount to transfer
5 – Click Submit
Your funds should arrive at KuCoin within a few minutes.
Step 4 – How to buy SparkPoint SRK on KuCoin
Alright, now that we have everything in place it’s time to buy some SparkPoint!
Over on KuCoin click on Trade → Spot Trading.
Don’t be intimidated by what you see, I’ll walk you through.
Click on whatever coin pair is right next to the KUCOIN logo on top.
Enter SRK into the search field and select SRK/USDT.
Once there, you might need to enter your Trading Password in the lower right corner. In case you didn’t get any, click on Forgot Trading Password and go through the process.
In case you didn’t set up a Trading Password/PIN during your registration, you’ll find the steps on how to do that here.
Once you have entered your Trading PIN, there is just one more thing we need to do.
Step 4.1 – Transfering funds from Main Account to Trading Account
This is kind of an additional security measure. Click on the small Transfer button in the trade window, enter the amount to transfer, click Confirm.
Step 4.2 – Buy SparkPoint SRK on KuCoin
Finally, we are ready to buy SparkPoint SRK. If you just want to buy at the current Market Price, select Market first. Then enter the amount of USDT you want to spend and click on Buy SRK.
Where to store SparkPoint
I generally always discourage people from storing cryptocurrency on an exchange. Therefore, as of writing this article, I recommend storing your SparkPoint on the official SparkPoint Mobile Wallet.
This was quite a mouth-full, I know. But it is still the easiest way on how to buy SparkPoint SRK as of now. It’s always a bit of a hassle to buy some small altcoins, but potentially very worth it!
Be careful with your money and do your own research. This article does not qualify as financial advice. You’ll find some more Cryptocurrency Guides in the Cryptocurrency Category.