About this guide: So, you have done your homework on Substratum and believe that the project is going to change the world. You will probably have one simple question: How to buy Substratum (SUB)? This article will give you a simple answer and also let you know the safest way to store your SUB.
- 1 Are You Too Late To Buy Substratum?
- 2 How High Could Substratum Go?
- 3 How To Buy SUB – Our 2 Best Ways Explained
- 4 Create A Coinbase Account
- 5 I’ve Setup My Coinbase Account! What Now?
- 6 Setting Up A SUB Wallet
- 7 Storing Your SUB In The Safest Possible Way
- 8 Create a Binance Account
- 9 How To Transfer Your Bitcoin or Ethereum from Coinbase To Binance
- 10 How To Trade Your BTC or ETH Into SUB on Binance?
- 11 How To Send SUB From Binance To MyEtherWallet
- 12 Conclusion
Are You Too Late To Buy Substratum?
The first thing to know is that if you want to invest in the Substratum project, then you will be buying SUB tokens. SUB tokens are simply the fuel for the Substratum network. You can find out more about this in our comprehensive Substratum guide.
The SUB token first hit exchanges on 25th September 2017 and was priced at $0.048 per token. Since then, the token has hit all time highs of $3.19 on 9th January 2018 and at the time of writing, is trading at just $0.43 per SUB. At Total Crypto, we never like buying tokens at all time highs and with Substratum we are currently getting a significant discount.
The project has a grand vision and is commonly referred to as ‘the new internet’. It’s still early doors for Substratum. We must bear in mind that it only ICO’d on the 14th September 2017 and it’s product is currently only in BETA.
Substratum’s payment solution, CryptoPay, is also anticipated to be launched in mid 2018. We are excited about this product and what it may mean for SUB token holders. The reason is that CryptoPay functions a lot like PayPal, by allowing website and APP owners to accept and process transactions.
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The difference is that CryptoPay will allow cryptocurrency transactions, as well as fiat. SUB will be used as the intermediary currency for exchanges e.g. If a vendor takes a payment in Bitcoin and wants USD, then SUB will be used as the conversion currency: Bitcoin > SUB > USD. Therefore, if CryptoPay is widely adopted by website and APP owners, then this should significantly push up the demand for SUB.
In short, you are not too late to buy Substratum. The important thing is the price you get your tokens at.
How High Could Substratum Go?
This could be a 10 billion dollar question. The truth is that no one knows what a cryptocurrency will be worth in the future. It is possible that they will literally be worth nothing.
The market Substratum is actually disrupting is web hosting and projections have this market being valued at $153 billion by 2022. If Substratum got even 1% of that market, then it’s reasonable to argue that the token is very cheap.
The most well known hosting company is GoDaddy and they are listed on the New York Stock Exchange. At the time of writing GoDaddy is valued at $10.25 Billion! Cryptocurrencies are obviously not stocks, but it is interesting to look at the earnings that back up these valuations in the stock market. GoDaddy has a current price to earnings ratio of 156.4. This means that for every $156.4 in market cap, the company produces $1 in earnings.
“The price-earnings ratio (P/E ratio) is the ratio for valuing a company that measures its current share price relative to its per-share earnings.”
So if Substratum takes even just a fraction of the online hosting market, we think it will do very well. Just be aware that we have looked at GoDaddy for illustration purposes only.
The Substratum CryptoPay product also has the potential to be the PayPal of the crypto world. Its value ultimately depends on its level of adoption in addition to that of the Substratum network.
We have no idea how high Substratum can go. All we know is that if they succeed in their mission, SUB will be very valuable indeed.
How To Buy SUB – Our 2 Best Ways Explained
We will show you two ways of buying SUB. It’s totally on you to decide which choice is best for you.
- How to buy SUB with fiat currency. To do this you will need to create accounts at Coinbase and a cryptocurrency exchange. We know multiple accounts are a pain, but right now there is no other option to get get your hands on some SUB.
- Our second option is for those that already have some cryptocurrency and want to swap this for SUB. We will show you the best exchange to use.
Buying SUB With Fiat
This method if for those taking up their first cryptocurrency position. You should be aware that you will need to set up an Ethereum wallet to store your SUB as well.
Just a heads up; this process will take a bit of time to set up. We will talk you through the easiest and most efficient way to buy SUB.
Buying With Crypto
Just scroll ahead past all the Coinbase stuff. It’s more than likely you have done this already. Well played you!
Create A Coinbase Account
Coinbase Key Facts
- Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
- Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
- Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
- Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
- Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
- Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
- Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
- Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
- Customer Support Methods: Email and FAQ’s.
Looking to invest more than $100 in SUB by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!
I’ve Setup My Coinbase Account! What Now?
Nice stuff on jumping through hoop one. The bad news is that you cannot buy SUB directly through Coinbase and will have to use a cryptocurrency exchange. To do this you will need to buy Ethereum or Bitcoin and then trade this on Binance for SUB later. We personally like buying Ethereum as the transaction times are faster. But you cannot go wrong with daddy Bitcoin either.
The fastest way to buy Bitcoin or Ethereum on Coinbase
- Head over to the ‘Buy/Sell’ page on your account.
- Add a payment method to your Coinbase account.
- Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, just sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
- Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.
- Enter the amount of crypto you want to buy.
- Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
- Complete your order by clicking buy.
Checkout our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We do recommend using GDAX and saving yourself some fees.
Once you have your ETH or BTC in your Coinbase account move onto the next step.
Setting Up A SUB Wallet
We know there are so many wallets in cryptocurrency that it can get quite confusing. The good news is that SUB is an ERC-20 token, built on the Ethereum blockchain. We recommend using the most popular Ethereum wallet: MyEtherWallet. What’s even better is that it’s complete free too!
We have put together some useful resources to get your MyEtherWallet setup:
Once your MyEtherWallet is good to go you need to know that SUB tokens can be viewed in the ‘View Wallet Info’ section. Just click ‘Show All Tokens’ and you will be able to see your SUB balance.
Just scroll down the list of tokens to find SUB and view your balance.
Storing Your SUB In The Safest Possible Way
MyEtherWallet is an awesome way to store your SUB. For those that want the most secure method money can buy, you should combine MyEtherWallet with a hardware wallet.
How is a hardware wallet more secure? Hardware wallets actually store your private keys on the device. This protects your private key from things like phishing attempts and keyloggers, as your private key is never exposed to the outside world. The reality is that there is an ever increasing number of hackers out there, trying to steal cryptocurrency. It’s a trend that is likely to get worse as cryptocurrency prices rise so investing in extra security might not be a bad idea.
As SUB is an ERC-20 token, meaning it is compatible with both of the most popular hardware wallets on the market. We actually use both Trezor and Ledger ourselves and are very happy to recommend both hardware wallets to Total Crypto members.
Need help working out which hardware wallet is best for you? Just check out our Ledger vs Trezor comparison article.
€94.80 (including European tax and free shipping)
Need help setting up your Ledger? Just have a look at our step by step guide.
€128.26 (including European tax and shipping)
Need help setting up your Trezor? Just have a look at our step by step guide.
If you need help integrating your Trezor or Ledger with Myetherwallet, just take a few minutes to find out how in our guide.
Create a Binance Account
Alrighty, so you have got you Bitcoin or Ethereum on your Coinbase account and your MyEtherWallet is ready to store your SUB. Now we just need to create a cryptocurrency exchange account, to trade your ETH for BTC for Substratum. SUB does practically all its trade volume on Binance. We, at Total Crypto, think that Binance is one of the best exchanges out there and it is the largest exchange in the world right now. For us, it’s a no brainer where to go to buy our SUB.
Binance Key Facts:
- Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
- Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. Ripple is one of them.
- User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
- Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷
Get SUB on the world’s largest crypto to crypto exchange.
Need help setting up a Binance account? Just checkout our Binance guide.
How To Transfer Your Bitcoin or Ethereum from Coinbase To Binance
So, you should have your Binance account good to go right now. Whether you have funds on Coinbase or in another wallet, you will have to send your Crypto to Binance so you can trade it for SUB.
- Login to your Binance account.
- Select “Funds” and click “Deposit”.
- Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
- You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
- Login to Coinbase and go to the ‘Accounts’ tab.
- Click the send button for whatever cryptocurrency you hold.
- Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
- Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly
Got Crypto In Another Wallet?
- Simply send your crypto to your Binance deposit address.
How To Trade Your BTC or ETH Into SUB on Binance?
The hard work is now out of the way. You should have some Bitcoin or Ethereum in your Binance account. Now it’s time to get your SUB!
- Navigate to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search SUB in the search bar and click the SUB/ETH or SUB/BTC market.
- You will then see a trading screen. At first glance it may look tricky but don’t be put off, we will show you what to do. Just select the ‘Market’ tab (this enables you to buy at the market price). Then just enter the number of SUB you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy Substratum.
- Once you have clicked ‘Buy’ your trade will be processed and your SUB will appear in your Binance account.
How To Send SUB From Binance To MyEtherWallet
OK, we have our SUB on Binance and our MyEtherWallet ready to go. We do recommend you take your SUB off the exchange and store it in your personal MyEtherWallet. The reason is that exchanges hold a lot of crypto and are enticing targets for hackers. Also, wouldn’t you like to have control over your own crypto, rather than trusting a third party?
- Go into your Ethereum wallet and copy your public address.
- Login to Binance.
- Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
- Select Substratum from the dropdown, then paste in your Ethereum public wallet address and enter in the amount you want to withdraw.
- Just click ‘Submit’ and your SUB will be sent to your MyEtherWallet.
💡 Top Tip: Binance will charge you a withdrawal fee to get your SUB off the exchange. Before you withdraw you can check the withdrawal fee here!
Now you know the easiest way to buy SUB. It’s entirely up to you which method you use. The Total Crypto Team is really excited about the Substratum project and how it can make the world a better place. We are particularly interested in how CryptoPay can help cryptocurrency adoption amongst merchants. Historically, merchant adoption has been a stumbling block for crypto and we are excited to see if CryptoPay is the solution.
Stay safe out there guys and hopefully we will catch you on the moon.