On decentralized exchanges, some cryptocurrencies, such as Gen Coin Capital, can only be acquired with another cryptocurrency. To purchase GenCoin Capital, buy Ethereum (ETH), then use ETH to purchase GenCoin Capital. And you’ll need what’s known as a self-custody wallet to do so. For citizens of the United States, here’s how to do it with Coinbase Wallet. Follow the steps carefully and buy GenCoin without much hassle.
- Coinbase Wallet
To buy GenCoin Capital, you’ll need a self-custody wallet like Coinbase Wallet. A mobile app and a browser plugin are also available for Coinbase Wallet.
- Choose a username for your Coinbase Wallet.
You’ll need to choose a username as part of the Coinbase Wallet setup process. This username makes it simple for other Coinbase Wallet users to transfer your cryptocurrency. You can keep your username private if you want, but you’ll need it to log in.
- Protect your recovery phrase by writing it down somewhere safe.
You’ll get a 12-word recovery phrase when you establish a new self-custody wallet. Anyone who knows your recovery phrase gets access to your crypto. Don’t tell anyone about your recovery phrase. We strongly advise writing these down on paper and securely preserving it, as well as utilizing Coinbase Wallet’s cloud backup option.
Remember not to tell anyone your recovery phrase. You will never get asked for your recovery phrase by Coinbase. Coinbase will not assist you if you forget your recovery phrase.
- Prepare for Ethereum network costs by learning about them and making a plan.
Fees get determined by the amount of traffic on the network, the complexity of the transaction, and how quickly you want the transaction completed. Make a budget for fees ahead of time.
- Purchase ETH and deposit it into your Coinbase account.
To purchase Ethereum, you’ll need to open a Coinbase account if you don’t already have one (ETH). Depending on whether you’re using the mobile app or the Chrome extension, you can send ETH to your Coinbase Wallet in different ways.
- In the trade tab, use your ETH to purchase GenCoin Capital.
You can buy Gen Coin Capital right in the Coinbase Wallet app if you have it installed on your phone. Select the Coinbase Wallet App image. Then go to the “Trade” tab, where you may exchange ETH for any Ethereum-based token (also known as “ERC-20 tokens”). Select GenCoin Capital from the “choose coin” menu. Enter the amount of ETH you want to buy Gen Coin Capital with it. Don’t forget to budget for transaction fees. Confirm your purchase and complete the process by following the on-screen instructions.
Tap the “Convert” button if you’re using the Coinbase Wallet plugin. Enter the amount of ETH you’d like to swap for Gen Coin Capital and search for it. Don’t forget to budget for transaction fees. Confirm your purchase and complete the process by following the on-screen instructions.
Conclusion
Gen coins may get purchased on many cryptocurrency exchanges, but unlike other major cryptocurrencies, they cannot get bought with fiat money. You may still take this coin by first purchasing ethereum on any fiat-to-crypto exchange and then transferring it to a platform that accepts it. For more such details, stay tuned with us!!