A step by step guide on how to buy & store the Syscoin (SYS) cryptocurrency
Syscoin is a decentralized marketplace, so that users can securely and reliably buy and sell any items they wish.
Think similiar to Ebay or Amazon, but without corporate gouging, political interference, downtime, maintenance or hefty fees.
This guide is not, and should not be regarded as 'investment advice' or as a 'recommendation' regarding a course of action.
Notes: Images can be clicked to see a larger version. If you're confused by any terms used, a glossary can be found here.
First we need to set up a wallet to store the Syscoin you're about to buy.
Go to the Syscoin official site and scroll down the page until you get to the wallet download section.
Choose the download that works for your computer and click it.
Once the download has finished, use the file to install the wallet to your computer.
Run the wallet.
You may be asked to allow the program access through your computer's firewall. You must allow access for the wallet to work correctly.
Click the little person shaped icon on the top menu, and choose 'Encrypt wallet'.
Enter a password that would be hard to guess (but which you won't forget!).
Note: if you forget this password you will lose access to your coins.
Press 'Encrypt wallet'.
Now we'll back up your wallet files. This is important, because if your computer crashes or is lost, you need to be able to open your wallet on a new computer.
Your wallet files are stored at:
The wallet directory is located in:
Note: the Library directory is hidden by default, you can quickly access this directory by pressing:
CMD + Shift + G
in Finder then typing:
Copy the files stored in these locations onto a backup hard drive, USB stick etc. and put it somewhere safe.
Now click 'Send/Receive' and then 'Receiving Address List'.
You will be presented with your wallet address, which looks like a long string of numbers and letters.
Copy this down somewhere safe, as we'll need it soon.
Now we'll purchase the popular cryptocurrency Ethereum, so that we can exchange it for Syscoin (if you already own Ethereum you can skip ahead).
Choose which exchange you'd like to use to do this, and the guide will continue:
If you use this link to sign up to Coinbase we'll both receive ten dollars of free coins when you spend over $100 (or the equivalent in your currency).
Press the 'sign up' button and fill out your name (make sure this is exactly how it's written on your photo ID), email, password and location.
Just like a US bank, Coinbase is regulated by the US government, and has to follow strict financial rules. So they take verifying your identity very seriously. It's a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.
To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy.
Using a credit/debit card means higher fees but offers instant purchasing. Using a bank transfer is cheaper but slower (taking up to a week to get your coins).
Once your payment details are verified, click 'buy/sell' on the top menu.
Select 'Ethereum', and at the bottom of the page choose how much to spend in your local currency / how many coins you want to buy.
Once you're happy with the amount, click the big 'Buy' button.
You'll be asked to confirm your purchase.
Press the 'Confirm Buy' button.
Congratulations! You now own some Ethereum. But don't close Coinbase yet, we're going to need it again in a few minutes.
Click here to go to Cex.io
Click the 'Register' button along the top menu.
Enter your email address and a secure password. Click the checkbox to agree to the terms.
You will now be asked to set up 2-factor authentication for your new account. It is strongly advised not to skip this step, as 2-factor authentication makes your account far more secure.
We recommend using the 'Smartphone App' option.
Once your security has been set up, you'll be taken to your account dashboard.
Before we do anything else, head on over to your personal email account- there will be an email from Cex.io asking you to click a link to verify your account. Click it.
You will be taken to a page telling you your email has been confirmed. Click 'Go back to the site'.
Look for your user ID in the top menu, hover your mouse over it and in the drop down menu click 'Verification'.
Every exchange that lets your buy cryptocurrencies for cash require you to verify your identification before doing so.
Complete the Cex.io verification process by supplying your personal information and uploading your ID.
Once you're verified, click the 'Deposit' button along the top menu.
You now get to choose how you'd like to deposit money:
Via credit/debit card
If you choose credit/debit card you can buy instantly, but you pay commission on the money you deposit.
Via bank transfer
This option takes a few days for the transfer to arrive but has no commission fees.
Choose the method you prefer and follow the instructions to deposit your money.
Once your money is in your account, click 'BUY/SELL' on the top menu.
Choose 'ETH' and the currency you'd like to buy it in (Dollars, Euros, Pounds or Rubles).
You will be offered some precalculated amounts of Ethereum, or you can scroll to the bottom of the page and input the amount of Ethereum you'd like to buy in the 'Custom amount' box.
Once you've decided, click 'Buy'.
You'll be asked to confirm your buy.
Check everything looks correct and click 'Confirm the order'.
Congratulations- you now own some Ethereum!
Now we'll use the site Changelly to exchange your Ethereum for Syscoin.
Click here to go to the Ethereum / Syscoin exchange page.
Choose how much Ethereum you're going to exchange.
In the box marked 'You get' it will now display how many Syscoin you will receive.
Once you're happy, click the big green 'Exchange' button.
You will be asked to register with Changelly using your social media or - and this we recommend- simply your email address.
They won't ask for your name, address or anything like that.
A confirmation screen will ask you to look over the transaction to be sure everything looks correct. Click 'Next'.
You will be asked for your SYS address.
This is your personal wallet address we saved earlier from Blockmarket wallet in step 6.
Copy and paste this address into the box and click 'Next'.
You will be asked to look over the transaction one more time. Take your time, make sure it all looks correct, and then press 'Confirm and make payment'.
You will be presented with an address to send your Ethereum to. Copy it.
Now, return to Coinbase.
Click 'Accounts' from the top menu, then find your Ethereum wallet listed on the left.
In the 'Recipient' box, paste the Ethereum wallet address we just copied from Changelly.
In amount, type how much Ethereum you wish to send (there is a 'use max' option if you wish to send it all).
Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.
Go back to Cex.io
Press 'Withdraw' on the top menu.
Under 'Select currency and amount' click 'USD' and select 'ETH' in the drop down menu.
Input the amount of Ethereum you're sending.
In the box labelled 'Enter the recipient's address below' paste the Ethereum wallet address we just copied from Changelly.
Once you've looked everything over, click the check box to confirm you've double checked everything is correct.
You will be asked for a 2-factor authentication number.
Use your selected method of authentication to generate the number and write it in the box. Press 'Confirm'.
You will be sent an email to confirm the withdrawal.
Go to your personal email and click the link Cex.io has sent you. This will send the coins on their way.
Now we've got to wait a few minutes for the coins to move across the network.Unless there's an unusually large network backlog, the coins will take between 5 and 30 minutes to arrive at Changelly. The Changelly page will update automatically so there's no need to refresh it.
While you're waiting, consider sharing this guide with your friends and followers to spread the word about Syscoin, encouraging its popularity and value to grow.
Here's some share buttons to make it easy:
Once your Ethereum arrives at Changelly it will automatically refresh to keep you updated on the three steps of conversion:
1) Waiting for payment
3) Sending to your wallet
Once the transaction is complete a confirmation screen will appear. Do not close this page yet.
Go back to your Blockmarket wallet.
You will see your coins appear in your wallet balance.
If after an hour the coins haven't appeared, go back to the Changelly exchange page and scroll to the bottom, then click the 'Having troubles?' box and follow the instructions.
to other coins here.