So you like the look of Wanchain (WAN) and think the project has a decent shot of rebuilding the finance industry. You are likely to have two simple questions: How to buy Wanchain and where to buy it? In this article we will show you our top two ways to buy WAN and the best way to store it.
- 1 Are You Too Late To Buy Wanchain?
- 2 How High Could Wanchain Go?
- 3 How To Buy WAN – Our Top 2 Ways Explained
- 4 Creating a Coinbase Account
- 5 My Coinbase Account Is Setup. What Now?
- 6 How To Get A Wanchain Wallet?
- 7 Create a Binance Account
- 8 How To Transfer From Coinbase To Binance?
- 9 How To Trade Bitcoin Or Ethereum For WAN On Binance?
- 10 How To Withdraw WAN From The Binance Exchange?
- 11 Conclusion
Are You Too Late To Buy Wanchain?
Even though the Wanchain ICO took place on 4th October 2017, the cryptocurrency first hit exchanges on the 23rd March 2018. WAN’s exchange listing was one of the most eagerly anticipated in cryptocurrency history. Wanchain started trading at $4.37 a token and did $155 million in trading volume within the first 24 hours. Since then, the enthusiasm for WAN has not cooled down and the crypto is trading for $8.55 a coin at the time of writing.
Even though Wanchain is at an all time high, the coin has only been publicly traded for a few months. Crucially, it was listed on exchanges during a heavy cryptocurrency market correction. When new all time highs are set for the entire cryptocurrency market, who knows how high WAN could be.
With Wanchain, the thing to remember is how new the project is and when it was first listed on exchanges. During the current market cycle, it is not surprising that it’s trading at an all time high. It’s very early days for the project and if they are going to succeed in disrupting the $10 trillion per year finance industry, it will take time to gain market share and traction.
We still think anyone taking a position in Wanchain is getting in pretty early. The most important consideration is the price you are adding to your WAN position. Just make sure you think the price is decent value and consider adding to it over time, rather than just going all in.
How High Could Wanchain Go?
The short answer is that no one knows how how any cryptocurrency can go or if it will end up worthless. What we do know is that Wanchain is trying to grab a slice of the $10 trillion/year finance industry and there is a trend toward digitalising financial assets. If this trend continues and WAN becomes the new distribution structure for digital assets in the finance industry, there is little doubt that the cryptocurrency will be super valuable. Banks currently fulfil the role of financial infrastructure today, the most valuable of which is Wells Fargo & Co who alone are valued at $301 billion.
Though it is very hard to value Wanchain right now, we suspect that the number of services they offer will only expand. Their true valuation will depend on which financial companies adopt the platform and the value of transactions being carried out on it. However, if a significant number of financial assets are digitised and Wanchain is the dominant distribution structure for these assets, their valuation could surpass all expectations and possibly even be one of the most valuable cryptocurrencies in the word.
How To Buy WAN – Our Top 2 Ways Explained
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We will reveal our top two ways to buy WAN. It’s totally on you to decide if these are correct for you.
- How to buy WAN with normal currency (for example; USD, GBP and EUR). Sadly, there is no direct way to buy Wanchain with a single account. Instead, you will need to create an account at Coinbase and a cryptocurrency exchange.
- Our second method is ideal for those that already own some Bitcoin or Ethereum and wish to trade this for WAN. We will show you the best cryptocurrency to use and get your hands on some Wanchain.
Buying WAN With USD, EUR or GBP
This method is perfect for anyone making their first cryptocurrency investment. To dip your toes into the cryptocurrency markets with Wanchain, you will need to create an account on Coinbase and a cryptocurrency exchange. Sound complicated? Don’t worry, our walkthrough will guide you through all the steps.
Buying With Crypto
More experienced cryptocurrency investors can just skip over all the Coinbase stuff. We know you are here to find the best cryptocurrency exchange to buy Wanchain.
Creating 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 Wanchain by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!
My Coinbase Account Is Setup. What Now?
Nice job on getting your Coinbase account good to go. The bad news is that you cannot buy Wanchain directly through Coinbase and you will need to use a cryptocurrency exchange to get it. To do this, you first need to convert your money on Coinbase into either Bitcoin or Ethereum. The plan is to trade this for WAN on a cryptocurrency exchange a bit later.
The Fast 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, enter your payment details and process the transaction to fund your account. Once submitted, simply sit back and wait for the credit to be applied to your account. You will get an email 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.
Check out 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 recommend using GDAX and saving yourself some fees.
Once you have successfully bought Ethereum or Bitcoin on Coinbase, you are ready to move onto the next step.
How To Get A Wanchain Wallet?
TotalCrypto recommends using the official Wanchain wallet to store your WAN cryptocurrency. Fortunately, we have prepared a separate guide showing you precisely how to set up and use your WAN wallet.
Create a Binance Account
By now, you should have some Bitcoin or Ethereum in your Coinbase account and have your Wanchain wallet ready to go. The next step is to create a cryptocurrency exchange account. Here you will trade your Bitcoin or Ethereum for WAN.
One of the largest cryptocurrencies exchanges to trade WAN on is Binance. Binance is actually the most popular exchanges in the world and we cannot find a decent reason to do your shopping elsewhere.
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. WAN 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 WAN on the world’s largest crypto to crypto exchange.
Need help setting up a Binance account? Just checkout our Binance guide.
How To Transfer From Coinbase To Binance?
Your Binance account should be setup and ready to go. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for WAN coins. To do this, just follow the steps below:
- 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 Bitcoin Or Ethereum For WAN On Binance?
Now it’s time to buy your Wanchain.
- 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 WAN in the search bar and click the WAN/ETH or WAN/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 enter the number of WAN coins you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy coins.
- Once you have clicked ‘Buy’ your trade will be processed and your Wanchain will appear in your Binance account.
How To Withdraw WAN From The Binance Exchange?
Alrighty, you should have your Wanchain finally. The last question is how you want to store it? TotalCrypto recommends you withdraw your coins off the exchange and store them in your Wanchain wallet. The reason is that Binance holds a lot of cryptocurrency and is a natural target for hackers. Also, having control of your own crypto is probably better than trusting an exchange to keep your crypto safe for you.
If this sounds like the right option for you, just follow the steps below:
- Login to Binance.
- Make sure you have your Wanchain public address handy. To find this just open your WAN wallet and copy the public address to your clipboard.
- Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
- Select WAN from the dropdown, then paste your Wanchain wallet public address and enter the amount you want to withdraw.
- Once you hit ‘Submit’ your Wanchain will then be sent to your wallet for storage.
💡 Top Tip: Binance will charge you a withdrawal fee to get your WAN off the exchange. Before you withdraw you can check the withdrawal fee here!
There you have it, our top two ways to buy Wanchain. The TotalCrypto Team is very excited about the sheer ambition and scale of the project. If WAN succeeds and becomes the new distribution structure for digital assets in the finance industry, there is little doubt that this cryptocurrency will be exceptionally valuable indeed.