What is Nimiq (NIM) and how can I buy it?

6 days ago on November 30, 2019

Blockchain is complicated. It is hard to use and even harder to understand. For mass adoption, it has to be user-friendly.

Nimiq, the browser-first blockchain, just works. It is designed from scratch for simplicity and ease-of-use.

How? By creating a node in the browser.

Client-side and invisible to the user. This way, everyone becomes a first-class citizen of the blockchain. True peer-to-peer connectivity with a few clicks.

Setting up a Nimiq account

Setting up a Nimiq account couldn’t be easier.

Follow these steps to get started.

Visit the Nimiq website here.

Click the create account on the top right.

Choose your avatar.

Create your password

You have now created your Nimiq account.

Now you need to backup you wallet. Click on the options menu and select ‘create backup’.

Now select the show recovery words button, then write down the words and store them in a safe place.

This is vital to recover your account if your browser gets deleted. Without the recovery words, your wallet will not be recoverable.

You can also backup your account by saving your login file.

How to purchase Nimiq?

Step 1: Buy Bitcoin

Note: If you already own bitcoin (step 1), please skip to step 2.

Before you can purchase Nimiq, you would first need to buy some bitcoin. Don’t worry if you have never bought bitcoin before, the process is more simpler than it sounds.

First create a coinbase account.

If you use the link below you and the writer of the original article will both receive $10 free.

https://www.coinbase.com/join/bellam_2un

Once you have done that, log back in to Coinbase. You will now need to add a phone number, and confirm this number by entering in a code that you will receive via text message. This is to prevent spam accounts being made, and adds an additional level of security to your account.

Before making purchases, you will need to verify your identity by uploading a picture of some form of ID, such as a driver’s license.

Once you have done that, you need to add some payment method to buy your coins. Under the settings menu, go to the “Linked Accounts” tab and click on “Link a New Account”.

You have several options, if you are looking to invest only a few hundred, I would recommend the debit card option as the other options can take time to process or you could be charged a fee.

Once that is setup, click the trade option and select bitcoin, then purchase the amount you require. When the purchase is complete you need to send the bitcoin to Kucoin which is where the Nimiq can be purchased.

Step 2: Buy NIMIQ

Sign up to Kucoin. Once signed up, click on deposit on the left hand side.

Then select bitcoin from the drop-down menu.

Here you will be presented with an address. Copy this address and then return to your coinbase accounts page to send the bitcoin to your Kucoin wallet address you have just copied.

After half an hour to an hour your bitcoin transaction should have gone through. You can now go to Kucoin and click on the market button on the top left. Then search ‘NIM’ in the search bar.

Click on the NIM ticker, you will then be directed to the Nimiq order book.

You now need to transfer you BTC to your trading account, do this by clicking on the transfer button above the buy and sell icons.

Then transfer your BTC from your main account to your trading account.

Once complete, go back to the order book and select the amount of NIM you wish to purchase in the BUY section.

You should now be the proud new owner of some Nimiq.

If you are looking for more cryptocurrencies to buy, visit the exchanges below. They have a wide range of tokens and coins, and are very active with their listings.

If you are looking for a better browser to use, one that is more faster, secure and allows you earn crypto while you browse, have a look at BRAVE. To find out more about Brave, read my article here.

Looking to up your websites security by registering your domain on the blockchain? Take a look at Unstoppable Domains.

Original article: https://www.markethodl.com/blog/what-is-nimiq-nim-and-how-can-i-buy-it