In this guide you’ll get information about where to buy Syscoin, if you are planning to buy SYS coin – You’re in the right place!
It’s rather difficult to describe Syscoin because of its many ‘natural’ characteristics. It is a distributed ledger. It also functions as a decentralized database. It is also a global network as well as a blockchain. If users have to sum it up into one definition, it would be a cryptocurrency platform. Think of the platform as a Swiss Army knife that has it all.
The platform is extremely comprehensive and complete, having a collection of useful features. These features are able to provide solutions for various decentralized services. One of the platform’s main purposes is to eliminate intermediary – giving back control to consumers and retailers. With the absence of intermediary, the need of fees or costs can be eliminated – and processes can be made faster and more effective. It is about masternode network as (scalable) service layer while offering interoperability and trustless ecosystem.
Table of Contents
Syscoin (SYS) Features
- Stable and secure network. As Bitcoin’s protocol fork, Syscoin can leverage the ability (and power) of merge mining. Miners should be able to mine crypto simultaneously as long as it has the same algorithm (as the Bitcoin).
- Useful and helpful features. As a full decentralized marketplace, the platform has various key features to improve the (e-commerce) experience. Users, for instance, have direct access to unlimited inventory. Retailers can enable their products being resold (for a commission, of course) and also resell other people’s goods.
- Flexible payment option. Not only the prices can be pegged or adjusted to fiat currencies, but the platform can incorporate arbitrated escrow features. The escrow feature can be used to hold tokens until all of the sales terms have been met. Moreover, all the involved parties can choose their fiat currencies options, including US dollar, pound, or euro.
- Safe environment. The platform incorporates completely safe operation, including encrypted messaging. There are also digital certificates and wallet addresses for personalized use and digital assets exchange.
- Interoperability operation. Everything in this platform is interoperability, which means that users can manage across platforms and blockchains. Not to mention that the platform offers scalable and secure environment.
Where to Buy, Sell and Trade Syscoin aka SYS
You can basically use debit card, credit card, or even PayPal to buy the Syscoin (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Syscoin 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 Syscoin. 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:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Syscoin currency and exchange your Ethereum or Bitcoin with the Syscoin
- Store your Syscoin 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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Syscoin, 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 Syscoin:
IMPORTANT! Once you are registered to any of the above, find the BTC/SYS or ETH/SYS 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 Syscoin (SYS) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- 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+
Frequently Asked Questions (Faqs)
Can I Buy Syscoin (SYS) 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 Syscoin. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Syscoin (SYS) 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 Syscoin (SYS) with Skrill?
You can’t buy SYS directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Syscoin. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Syscoin (SYS) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/SYS and begin the transactions.
Can I Buy Syscoin (SYS) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/SYS trading pair.
What Is the Best Payment Method to Buy Syscoin (SYS)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Syscoin right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Syscoin (SYS)?
Once you have purchased the Syscoin, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Syscoin (SYS)?
Find a crypto exchange which allow pairing SYS with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Syscoin (SYS) and Not Buying It?
Yes, you can.
Syscoin is about one-stop platform that has it all. It also offers a marketplace with flexible features and simple arrangement. The platform also offers very minimal fees and the elimination of intermediary. Just like other blockchain platforms, Syscoin also incorporates smart contracts that have been reinforced in such a way so they can’t be compromised. Those who want to reap the benefits offered by the platform can buy Syscoin (SYS) so they can join the platform.