Step 2 – How to buy cryptocurrency
If you have decided that you will be using KuCoin as your exchange please follow the video and steps to fund your account. *IMPORTANT* Be sure you purchase “Tether USDT” as that will be your base currency Mythril will trade with.
1. Once you have completed your purchase go back into your KuCoin account click on “Main Account” in the navigation
2. When the funds have been processed you will see them here
3. When the USDT is in the Main account you will have to transfer it to the “Trading Account”
4. Look for “USDT” in the “Coin” column and click on “Transfer” in the “Operation” column
5. A popup will display. Under “Direction” select “Main Account” and the other drop down select “Trading Account”
6. Under “Coin” select “USDT Tether”
7. Specify the amount of Tether you want to transfer. We recommend a minimum of 1,500 USDT to maximize your trades
8. Click “Confirm”
In order for you to trade you must have funds in the “Trading Account” as thats where Mythril/Wunderbit will be trading from. If there are no funds in this account no trades will open. We also recommend at least $1,500 – $2,000 to start with to be able to take full advantage of maximizing trades and utilize dollar cost averaging.
If you have decided that you will be using Kraken as your exchange please follow the steps below to fund your account.
If you don’t have a Kraken account click here and follow the prompts. Be sure to verify your account and set up the recommended security settings.
When completed proceed to log in.
2. Once logged in select “Buy Crypto” on the top navigation bar.
3. The next screen will allow you to Buy, Sell or Convert. Click on “Buy”
4. Put in the amount you want to purchase. *IMPORTANT* We recommend at least $2,000 – $2,500 to get the maximum benefit of opening the most trades and dollar cost averaging
5. In the drop down select “USD Coin USDC”
6. In the pay with drop down select your bank
7. If the details are correct, click “Preview Buy” to initiate your purchase. On the “Confirm Your Order” pop up double check the information once more and then click “Buy Now”
8. When the purchase is completed click on the Kraken logo on the upper left hand corner of the page to take you to your dashboard
9. Once the USDC funds are available you will need to convert them to $USD. Click on “New Order”
10. Click “Intermediate”
11. Order-> Sell
12. Click the drop down and type in “USDC” without quotes and select “Trade”
13. Put in the amount of USDC you would like to convert to USD. We recommend a minimum of 2,000 to maximize your trades
14. Select “Market” for “Order Type”
15. Finally click “Sell USDC for USD” and follow the prompts
If you don’t have a Coinbase account click here and follow the prompts. Be sure to verify your account and set up the recommended security settings.
When completed proceed to log in.
2. Once logged in select Buy / Sell on the upper right-hand side.
3. Click the Buy field to select the asset you’d like to purchase.
4. Enter the amount you’d like to buy denominated in crypto or your local currency.
If you’re going to use Kucoin (recommended) for your exchange be sure to select USDT (Tether).
If you’re going to use Kraken for your exchange be sure to select USDC (USD Coin)
Both currencies are stable coins and are pegged to $1 usd which means if the markets are volatile the value of your purchase will not go up or down.
5. Select your payment method.
6. Click Preview Buy to confirm your purchase (you can always click the back arrow to make a change).
If the details are correct, click Buy to complete your purchase.
If you’d like to make this a recurring purchase, click One time purchase and select how often you’d like the purchase to repeat.