How to buy Siacoins
Whether you want to upload files to the decentralized cloud or lend your extra storage space to the network, you need Siacoins to use Sia. Siacoins can be sent to you once you make a Sia address, or you can mine them. Otherwise, you’ll need to buy them.
Siacoins are available on a number of major exchanges like Binance, Bittrex, Upbit, Poloniex, Huobi, OKex, and HitBTC. Get the full list here.
Some exchanges support direct fiat to Siacoin purchases, but others require you to buy Bitcoins, Ethereum, or other crypto to make your purchase. We’ll walk you through the process of buying your first Siacoins.
This example will use Bittrex, a US-based exchange that allows you to trade regular US dollars (USD), BTC, ETH, or USDT for Siacoins. But the general process will be similar no matter which exchange you use.
- Sign up for an account with Bittrex. The process is simple, but fairly long and requires identity verification along the way.
- Once signed up, find the market you’re interested in. Purchase directly with USD or Bitcoin.
- Make a trade by specifying how many Siacoins you want to buy, and at what price.
- Now you have the Siacoins in your Bittrex wallet, but exchange wallets aren’t a good place to store crypto, and you can’t use it for its intended purpose - using Sia.
- Transfer to your Sia wallet by making a Sia address and then sending to it from Bittrex.
Learn how to upload data to Sia