Solarcoin is one of the most well-known cryptocurrencies that trade with an SLR ticker symbol. It employs its Scrypt algorithm and Proof of Work for mining new coins, which is similar in concept to Bitcoin mining.
Solarcoin was launched on the 12th of June, 2014. Although Coinsquare does not accept the Solarcoin token, it could be bought on other platforms that trade any cryptocurrency of the major ones, such as BTC, ETH, and the fiat currency XRP and ones like Canadian dollars, US dollar, and Euro.
If you are interested in purchasing SolarCoin (SLR) If you are interested in purchasing SolarCoin (SLR), you must have or Bitcoin, which is abbreviated to (BTC) as well as Ethereum (ETH) to trade purposes. You can purchase cryptocurrency at Coinbase using your Credit Card or even Bank Account.
1. Create an account on Coinbase
To purchase Ethereum at Coinbase and then trade to SolarCoin (SLR) in the future – you must create an account with Coinbase. Click this link https://www.coinbase.com/signup to create an account.
Select’sign up’ and complete the registration form. Fill in your name (it must be the same as the name you see on the photo ID), your email address, password, and location.
Coinbase is controlled by the US government and adheres to strict financial regulations. In this regard, they need to confirm your identity. It is a lengthy and time-consuming effort, but it results in Coinbase’s reputation as the most trustworthy method to convert your regular money into cryptocurrency.
Verify Your Coinbase Account
Because Coinbase must verify accounts, they need to provide them with your telephone number, upload a picture of your photo ID, and confirm your credit account (credit or debit) or your bank account. As a result, it can be the only way to be able to purchase cryptocurrency.
If you have a credit card from Coinbase, the fees will be more expensive, but your purchases will be made instantly. It’s cheaper to make money transfers; however, it’s not as fast – it could take as long as one week to receive your money.
Once your payment information is verified, click the “buy/sell” button in the upper menu.
- After that, click on the “Buy” button.
- Now you must confirm the purchase.
- Make this happen by pressing the “Confirm Buy button.
2. Create A Livecoin Account
In this instance, you’ll use the Livecoin service to exchange your Ethereum to SolarCoin.
Note:Livecoin allows you to buy coins with dollars, euros, and rubles; however, this is subject to significant costs. Making a purchase of Etherium through Coinbase and then converting it to SolarCoinvia Livecoin is more efficient.
- Visit Livecoin website to sign up, and after you’re on the site, click the red ‘Open an account for trading’ button on the upper right.
- You need to create your username, create a secure password, and fill in the email you sign up for when you create an account.
- Select Next.
The website will inform users that the confirmation number was sent to you. Don’t close Livecoin.
- Go to your email address and open the letter (if you cannot locate it, look in your junk/spam folders). Copy the code in that email. Paste it into your Livecoin account. Livecoin.
- Click “Confirm.”
You’ve succeeded in activating your account. Next, make use of your email address and password to sign in to Livecoin.
The site will then request a 4-digit PIN code. It is used to verify the transactions when you withdraw your coins
Important: While you will modify the PIN at any time, changing it will stop you from withdrawing money for up to 10 days. Be sure to remember the PIN!
3. Find Ethereum wallet address from Livecoin
- On Livecoin, Click Balance in the upper menu.
- Continue scrolling down till you find the word ‘CRYPTOCURRENCY BALANCE.’ Then, enter ‘Ethereum’ into your search bar.
- The list of coins will narrow and display Ethereum. Next, click the “DEPOSIT” icon on the right.
- Important: Make sure you have selected Ethereum (ETH) and that you do not send the money to the wrong wallet can cause their destruction.
The pop-up will appear with a list of conditions. Be aware of them, and then tick the boxes beside them. After that, click ‘Show Address.’
Use the blue ‘Copy’ button to copy the address into the memory of your computer. It won’t store this address to your computer; it’s only letting you paste it.
4. Transfer Etherium from CoinbaseToLivecoin
- Go back to this page on the Coinbase website.
- Click on ‘Accounts’ in the menu bar at the top and locate your Ethereum wallet. It will appear at the bottom.
- Click “Send.”
- Copy your Ethereum wallet address you transferred directly from Livecoin into the “Recipient’s box.
- Enter the amount of Ethereum you’d like to transfer into the ‘Amount box (use the “use max” option for transferring everything).
- Click on ‘Continue’.
Coinbase might then call you to confirm your order by using your password or phone. Follow the steps till Coinbase verifies that Ethereum Coins have indeed been delivered. It may take a few minutes to allow to wait for the Ethereum coins to transfer to Livecoin.
Typically, it can take between 40 to 60 minutes for coins to show up in the Livecoin wallet. It’s dependent on the load on your network and can be longer during peak periods. Don’t panic.
Close the pop-up using your email address so that you can view your balance. Then, check back to see whether the funds were transferred. You will also receive an email advising you of the transfer.
5. Exchange EthereumForSolarCoin (SLR)
If your balance ‘Available’ confirms that Ethereum is in circulation, it is now time to exchange it for SolarCoin.
- Visit the exchange market Livecoin’s SLR/ETH. Now, you must locate the ‘Switch To Market Order button’ under “BUY SLR FORTH” then click.
- There’s a display next to the button; it informs you of Ethereum you have available and what you could trade it for.Click it.
- There is a limit of the amount you can purchase with ETH in the box labeled ‘You Get. Make changes to this ETH number if you do not intend to spend all of your Etherium funds for this transaction.
- Select ‘BUY SLR’ after you’re satisfied with the purchase.
Your name is now proudly the owner of a certain amount in SolarCoin!