Substratum is an open-source network that allows anyone to allocate spare computing resources to make the internet a free and fair place for the entire world. Substrate (SUB) is the platform's native cryptocurrency. It will be used to handle payments and payouts on the network. In this tutorial, you'll learn how to purchase SUB tokens.
Buy BTC or ETH on Coinbase
Since SUB is only traded against Bitcoin (BTC) and Ethereum (ETH), you must first purchase one of these two cryptocurrencies using Coinbase. Coinbase is an easy to use cryptocurrency exchange that lets you purchase BTC and ETH with fiat currencies (USD, EUR, GBP, etc.)
If you don't have a Coinbase account, click here to sign up.
After setting up your Coinbase account, click on the Buy/Sell tab.
For this purposes of this tutorial, we will be using ETH to purchase SUB. Compared to BTC, ETH usually offers faster transaction speeds and lower transaction fees. Next, select your payment method and how much USD you want to exchange for ETH. Remember bank transfers can take 3-5 business days. Credit and debit card purchases are instant, but have slightly higher fees.
In the screenshot above, you can see $100 will buy you 0.1391 ETH plus an associated transaction fee. Click the blue button to confirm the purchase.
Create a Binance Account
Next, we have to create an account at Binance, a cryptocurrency exchange where we can use BTC or ETH to purchase other cryptocurrencies.
If you don't have a Binance account, click here to sign up.
After setting up your Binance account, click on Funds/Deposit & Withdrawals. Type "Ethereum" in the search box, and click on the Deposit button for ETH. Make sure you don't accidentally click on Ethereum Classic (ETC). That's a totally different cryptocurrency.
Copy the ETH Deposit Address.
Send ETH from Coinbase to Binance
Navigate back to Coinbase and click on the Accounts tab.
Click the Send button under ETH Wallet.
Paste your Binance ETH address into the Recipient field. Next, click on the ETH field under Amount, and click Use Max. Finally click the blue Continue button to confirm the transaction.
Use ETH to Purchase SUB on Binance
Depending on network congestion, the ETH transfer from Coinbase to Binance can take anywhere from 15 minutes to an hour. When it's complete, you'll be able to see your updated balance on Binance's Deposits & Withdrawals page.
Navigate to the Exchange tab and click Basic. On the right hand side, select the **ETH **tab and type "SUB" in the search box. Click on SUB/ETH.
Next, use the Buy/Sell box to place an order. We can either place a market order or a limit order. A market order will instantly execute at market price. A limit order lets you set a buy/sell price, and the order will not execute until that price is reached. If you're not too keen on watching charts and waiting for your order to execute, feel free to use a market order.
Since cryptocurrencies are naturally volatile, I usually like to set a reasonable limit order instead. In the screenshot below, I've chosen to buy 0.13817971 ETH worth of SUB at market price.
To execute a market order, click on the market tab. Click on 100% to spend all your ETH. Binance will automatically calculate how many SUB tokens to purchase. Finally, click on the **BUY SUB **button to execute the order. If you go back to the Deposits & Withdrawals page, you should be able to see your new SUB balance.
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