How to Buy Potcoin (POT) in 2020: A Simple Guide

How to Buy Potcoin (POT) in 2020: A Simple Guide

Potcoin (POT)In this guide you’ll get information about where to buy Potcoin, if you are planning to buy POT – You’re in the right place!

Even though Potcoin act as a cryptocurrency, but it has other function which is to be used on transaction on cannabis industry that recently legalized and continue to grow. Potcoin is launched in 21st of January 2014. It is created using fork of Litecoin with some changes on the code structures and other key parts. POT has shorter interval needed when generating new block, halving schedule is better and more aggressive, and has higher number of coin caps compared to Litecoin. At first, it uses PoW algorithm before switching to faster and better PoSV algorithm.

POTCOIN (POT) Features

  • Instant. Potcoin provides instant transfer which designed to be the future for payment technology.
  • Secure. Potcoin blockchain is using PoS technology to make it open globally but more secure at the same time.
  • Low fee. Potcoin has low fee by reducing the processing needed but still able to give secure network in cheaper cost.
  • Growing industry. Potcoin is used for cannabis industry that continue to grow which also align with the cryptocurrency growth.
  • Transaction solution. Potcoin provide transaction solution for both individual and business with various advantages.
  • Integration. Potcoin is integrated into real world transaction entities such as dispensaries and marijuana grower.

Where to Buy, Sell and Trade POTCOIN aka POT

You can basically use debit card, credit card, or even PayPal to buy the POTCOIN (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the POTCOIN as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to POTCOIN. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum or Bitcoin
  2. Find a crypto exchange that supports POTCOIN currency and exchange your Ethereum or Bitcoin with the POTCOIN
  3. Store your POTCOIN to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying POTCOIN, once you get your Bitcoin or Ethereum, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH with POTCOIN:

KUCOIN
kucoinKucoin is one of the most solid exchanges in the market right now. They started to operate back in 2014 based on Seychelles, a small country in East Africa. They take regular payment methods such as wire and bank transfers as well as other cryptocurrencies. Their average trading volume is up to $54 million.

  • Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
  • Fiat Currencies: USD, EUR, PLN, GBP
  • Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 20+ more
  • Trading Pairs: 444+
CHANGELLY
changellyThis cryptocurrency exchange is located in the Czech Republic. They are the same team responsible for MinerGate, one of the most reputed groups of people in the market. The exchange is popular for allowing US-based investors and for offering to cover the network fees of any user.

  • Deposit Methods: Cryptocurrency, Credit card, Debit card, Wire transfer, bank Transfers
  • Fiat Currencies: USD, EUR, GBP
  • Supported Cryptocurrencies: BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE & 100+ more
  • Trading Pairs: N/A
COINMAMA
coinmamaThis popular exchange service is based on Israel, and it’s known for allowing easy transactions to buy Bitcoin using credit cards. Their services are openly offered all over the world, and they have no cap limit to the number of your purchases. Sadly, they also collect some of the highest fees in the market.

  • Deposit Methods: Cash, Credit card, Debit card, Bank transfer (SEPA)
  • Fiat Currencies: USD, EUR
  • Supported Cryptocurrencies: BTC, ETH, ETC, BCH, LTC, ADA, QTUM, XRP
  • Trading Pairs: N/A
GATE.io
gate.ioGate.io is a popular exchange service in his native base of operation in Hong Kong. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 117+ more
  • Trading Pairs: 403+
BITFINEX
bitfinexThis centralized cryptocurrency exchange is based on the Virgin Islands of the British Commonwealth. They started to operate back in 2014, and they work with 143 currencies, the only means to back up your transactions with them is with wire transfers in USD.

  • Deposit Methods: Wire transfers only. Deposit more than $1000 equivalent is free. A fee is applied on small deposit less than $1000 or equivalent
  • Fiat Currencies: USD
  • Supported Cryptocurrencies: BTC, BCH, BTG, IQ, TRX, GNT, AVT, DASH, DATA, EDO & 140+ more
  • Trading Pairs: 364+
LIVECOIN
livecoinThis Russian exchange service was established back in 2017 and quickly rose to prominence as one of the best trading tools in the market. Their trade volume has peaked at $21 million on their best day. Livecoin is famous for being easy to work with multiple payment methods such as AdvCash and Payeer.

  • Deposit Methods: Cryptocurrencies, Wire Transfer, Capitalist.net, Perfect Money, AdvCash, OKPAY, Payeer.
  • Fiat Currencies: USD, RUR, EUR
  • Supported Cryptocurrencies: BTC, BCH, BTG, IQ, TRX, GNT, AVT, DASH, DATA, EDO & 320+ more
  • Trading Pairs: 699+
YOBIT
yobitThis Russian exchange is well-known for working with a vast catalog of payment methods such as QIWI, Payeer, and others. They only handle transactions in American dollars and Russian rubles. Their fesses are not exactly high, and they can rank up to ten million dollars a day in trade.

  • Deposit Methods: QIWI, OKPay, Perfect Money, Payeer, AdvCash, Capitalist, BTC & other supported cryptocurrencies
  • Fiat Currencies: USD, RUR
  • Supported Cryptocurrencies: BTC, BTG, DASH, ETH, LTC, DOGE, WAVES, LSK, BCC, TRX & 1400 + more
  • Trading Pairs: 4127+
BINANCE
binanceBinance is probably the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 160+ more
  • Trading Pairs: 603+
MERCATOX
mercatoxMercatox is an exchange service based in the United Kingdom, their reputation as well-performing exchange coms from the fact that they only trade using Bitcoin or Ethereum, so there is no way to change your Fiat currencies with them. They do work with at least 356 different digital currencies, so there are options for different trading pairs.

  • Deposit Methods: Cryptocurrencies only (BTC, ETH)
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: ETH/BTC, LTC, DGTX, TRX, 0XBTC, EOS and 240+ more
  • Trading Pairs: 410+
COINSWITCH

coinswitchCoinswitch is not exactly an exchange service, but more like an aggregator system that works with similar mechanisms as established exchanges. They allow the investor to get in touch with different exchanges and get all the information they need about the deals they offer for their listed digital currencies.

  • Deposit Methods: Credit Card only
  • Fiat Currencies: USD
  • Supported Cryptocurrencies: BTC, BCH, MIOTA, XVG, NEO, ADA, XRP, TRX, ONT, ZIL & 365+ more
  • Trading Pairs: N/A

IMPORTANT! Once you are registered to any of the above, find the BTC/POT or ETH/POT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your POTCOIN (POT) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy POTCOIN (POT) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the POTCOIN. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy POTCOIN (POT) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy POTCOIN (POT) with Skrill?

You can’t buy POT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to POTCOIN. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy POTCOIN (POT) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/POT and begin the transactions.

Can I Buy POTCOIN (POT) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/POT trading pair.

What Is the Best Payment Method to Buy POTCOIN (POT)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the POTCOIN right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect POTCOIN (POT)?

Once you have purchased the POTCOIN, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

ledger nano x

Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

How to Sell POTCOIN (POT)?

Find a crypto exchange which allow pairing POT with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine POTCOIN (POT) and Not Buying It?

Yes, you can.

Conclusion

Potcoin as a cryptocurrency is providing transaction solution for cannabis industry which continue to grow and also support the growth of this coin. It is already used in real life by individual or business as it is already integrated in major entities. It is secure and fast which makes the user easily do transaction anytime globally. That is why, if you want to get your hands on this future payment technology, try to learn how to buy Potcoin.

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