How to Buy IOTA – Part 1 – Transfer Bitcoin from Coinbase to Binance



hey everyone so I was gonna make a video about signing up to BitFenix see my search was for iota I wanted to buy iota the crypto and I couldn't buy that on eToro where I normally trade so I've had to go through the process of finding out where to buy Bitcoin see the links here I realized it's this site now so I signed up for coin based buy Bitcoin I bought the Bitcoin I introduced the Exodus wallet which is what I'm using to just store stuff in how to setup two-factor authentication on coin bed coin base and then how to transfer the Bitcoin from coin base to the exodus wallet so those processes I've sort of gone through and you can see links up here but if you don't just want to store Bitcoin you like me you want to buy a Otel specifically iota because it's quite rare I only found bit four next way you could buy it and I just went to the bit for next site and I tried to sign up and about five days ago or six days ago it came under a DDoS attack distributed denial-of-service basically some hackers some people not really hackers but they tried to take down the site what they do is they get lots of computers all over the world all things which have an internet connection can be programmed to request information about the site either just try and access the site or in this case to set up millions of fake profiles and they do this because it overloads the server on BitFenix it can't handle all the requests and it just shuts it down so someone's obviously trying to mess with bit for links and bit for next you know are mitigating that attack but what they've done is they've closed off at the moment all new signups I can't sign in so I can't create a new account so I can't buy iota so I went looking and I found this one finance finance is another crypto exchange and they sell io tell that you can transfer a Bitcoin for IOT here so I signed up now the signup process is really similar to coin basis same stuff you after you know upload your link it to a phone number verify your email upload the different types of identity if you want to see that pros Donald coinbase here's the link to that video because it's quite lengthy it's fairly similar they give you an encrypted key a special key which you need to write down and keep offline it's in case everything goes wrong you can get back into your funds again very important but now Here I am so this is this is by Nance here it's just another exchange another crypto exchange where on this one kryptos are traded for other crypto so you can get Bitcoin in here and you can trade it for any one of these any one of these many many coins there are so many Kryptos now all coins and tokens which you can which you can buy these are all different coins measured against Bitcoin so that's the price of that one against Bitcoin so how much how many bitcoins do you need to buy one of them that's what we're seeing in this number here so with etherium to Bitcoin you need that many bitcoins that much of one Bitcoin to buy one etherium so having a look around this basically is because it's quite you know what have you got here you've got the actual exchange I'm gonna put in basic mode so the exchange is where you actually trade stuff you trade your Bitcoin for IOT o your Bitcoin for a theorem your Bitcoin for cardinal or whatever you want it to do so I'm going to use bei Bitcoin as a base because everyone kind of knows Bitcoin will have one solid idea and then we'll transfer that for other coins okay so here's the exchange and here I can buy iota or sell iota I've already put IOT in here III added IO so that's why it's showing up everywhere I click this and now it's showing everything to do without so by iota of Cell iota and I'm buying it for Bitcoin so it's iota versus Bitcoin okay so here it's showing the price of the current Bitcoin and how much I also do I want to buy so here roughly you see up on the left it will show you the last price so roughly four dollars for one iota okay so this much Bitcoin zero point zero zero zero to one minor three Bitcoin will buy you one iota and that much Bitcoin is currently worth that much in dollars so they kind of try and make it a little easy for us to understand what's happened so how do I get big coin into here into by Nance into my account so that I can actually trade it for iota how do I do that how do I move the Bitcoin in here in the beginning now how I do that is I'm on the exchange at the moment where I can buy and sell things here funds see over here funds so if I go into the funds deposits and withdrawals that's basically my wallets okay so we talked about wallets you have wallets which you store on your phone wallets with Exodus is stored on my computer there are cloud based wallets there's the ones which are actually you take out you store them on like a little USB Drive the offline wallets then there's the wallets you get on the exchanges so if I buy something on a crypto exchange it automatically gets stored in my wallet for the relevant currency on my exchange then I can just leave it there which is a little unsettling because you know there's so many hacking attempts on these exchanges that's why people have all these other wallets and they want to move it off the exchange you know so it's supposedly safer there we are here all the wallets that I have on on by now so these would be my finance wallets that would be my cardinal wallet this would be you know my Bitcoin cash wallet and over here on the side you can see deposits or withdraw so if you're depositing let's go to Bitcoin so here we are BTC if I click deposit it means I won't see look important send only Bitcoin to this deposit dress setting other currencies of this address may resolve the loss of your deposit there we go so this as we've seen before this is my Bitcoin wallet address on by Nance so what I do is I copy this here copy boom if I copy that success what I now have to do is I have to go to the other exchange so I will go to coin base here we are back on coin base and if I go to my accounts in coinbase I can see here's my Bitcoin wallet is my theorem wallet is my light going wallet in my yours so if I go to my Bitcoin wallet in coinbase I'm trying to send Bitcoin from coinbase where I've bought it to finance okay where I want to trade it for something else so I'm gonna do that I'm gonna send and it says enter a BTC address so it's asking us to enter a Bitcoin wallet address so the wallet address I just copied off by Nance that's my Bitcoin wallet address on by Nance so I'm just gonna paste that in here and I'm going to withdraw it from my BTC wallet on on here on coinbase this is going from coinbase to buy buy an ounce wallet here I'm just gonna do send max okay send Max's you know how much can I send in total wow the network fee is massive okay so what I'm gonna do is I'm gonna try and buy some more Bitcoin because what we just saw is that I was trying to transfer you know 30 dollars worth or 30 euros worth of Bitcoin and most of it was being taken up and fees so I want to see will those fees go up or just stay the same if I transfer more Bitcoin I want to see what those fees are think they're really associated with the network fee for Bitcoin itself Bitcoin is obviously the the network that runs Bitcoin is supported by all the people with little computers or big computers all over the world who are mining the currency and also acting to verify the transactions there the Bitcoin network the processing network so there's a minus fee with every transaction which sort of gets distributed back to them and it's the sort of payment to compensate them for actually mining for finding the coins and for also processing it for being that network which processes all the transactions so what I'm gonna do is I'm gonna just I've come to the buy and sell page again I'm gonna buy from this Bank here I'm gonna buy 80 euros worth of Bitcoin okay now I'm gonna use the other account this one here and I'm gonna buy 80 or as well Bitcoin that'll give me that much BTC the coins become so again I have to confirm the bike so we'll just see basically it was I think it was well as it twelve dollars I've watched the video after it's twelve fourteen dollars as a network fee and it was for transferring a very small amount of Bitcoin I want to see if that goes up or stays the same if I try and transfer more Bitcoin I think it will actually stay the same I think that fee is gonna stay the same it's for processing the the actual request it's not because of the amount of money I'm doing is just if I move that much information contained in the trade around the around the Bitcoin network than they charge a processing fee I don't think it's going to change if I charge more if I move more so now look I have 97 73 in Bitcoin so I'm gonna try and move that to my address I'm going to go back to finance and I'm gonna press deposit again on BTC just to make sure I've got the right address there's my Bitcoin wallet address on Finance I've copied it so just make sure again yeah copied it and now I'm gonna go back to coinbase and I'm going to go to my accounts again my Bitcoin wallet I want to send Bitcoin I'm gonna put in my buy Nantz Bitcoin wallet address here that's my wallet address on by Nance my Bitcoin wall address or violence I'm gonna send it from my Bitcoin wallet and I'm gonna send max okay so though we are the network fee is exactly the same so the network fee is for processing any requests it doesn't matter how much you send I think if I send you know a thousand dollars worth of Bitcoin it will be the same fee so it doesn't make sense sending $8 worth of Bitcoin and having had 38 euros worth of Bitcoin having a 13 euro fee may as well send more Bitcoin and keep the network for you the same so I'm gonna press continue and now I have to put in my Google Authenticator code again so my coin based Google Authenticator code which I set up in a previous video up here if you want to see how to set this up it's just an extra layer of security to make it all a bit safer there we are my transaction is on the way so what I'll do now is it's sent it I can see here pending simple coin is pending 98 72 euros worth of Bitcoin is being sent if I click on that there we are that's where it's going confirmations no confirmations yeah it has to be confirmed by the network that's what that fees for us all the – and all the people running the nodes which process the Victorian transition alright so I'm gonna go back to by Nantz here and I just have to I'm gonna go to the history page on my funds I'm gonna see deposits history you have no deposit history but there we ask so the deposits on this way I'm gonna wait a while until it does arrive and then I'll carry on with how do I then transfer that Bitcoin for iota okay so I'll leave it there just for now

10 thoughts on “How to Buy IOTA – Part 1 – Transfer Bitcoin from Coinbase to Binance”

  1. I noticed that you have many cryptos on Exodus in your other video. From which platform can we by such cryptos with cash. Is it from Exodus itself? Coz I understood from your video that Exodus is only for storing cryptos. Or is it from binance?

    Thanks

  2. Hi, i read everywhere warnings about Bitconnect .Many people warn bitconnect is a Ponzi scheme …Many people say Bitconnect will collapse sooner or later .Some insiders are leaving the boat (don't want to finish like Madoff )

  3. Good guide! I’d like to see more on binance. Do you know if gatehub is good? I was told it’s good for holding, ripple not too sure though. Cheers!

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