To buy JasmyCoin (Jasmy) in USD (US Dollar), you need to use a cryptocurrency exchange or financial service that accepts funds through your bank account or credit card.
The three main options for this in the US are Coinbase, Paypal (or Venmo), or Robinhood.
PayPal (or Venmo) is probably the best known of the three; however, at this point, if you are planning to trade this cryptocurrency in other markets, it is not the best option because the cryptocurrency of your account cannot be transferred to other internal or external PayPal accounts.
Robinhood, Paypal, and Venmo have the same limitations, where it “currently does not provide access to your wallet or wallet address,” which means it does not allow your cryptocurrencies to be transferred outside of Robinhood.
So let’s focus this guide on how to use Coinbase to buy JASMY in USD.
Step One: Set Up Your Coinbase Account
Visit Coinbase to create your account.
If you already have a Coinbase account, skip to step two.
Coinbase has an iOS (iPhone) and Android app to help you manage your account. However, the easiest way to create an account with them is through their website.
So the first thing you need to do is visit their site. Once on their site, you will need to enter your email address. Make sure this is an email address you have access to, and the one you think is the most secure, as you will be using it to access and manage your cryptocurrencies.
You should see a pop-up window requesting additional details about your account, such as your first and last name, confirming your email address, and setting a password and the state you live in. You must also be at least 18 years old to create an account.
Be sure to use your real name, as Coinbase will use it to verify your account.
As with most application processes, the next step will be for Coinbase to send you an email to verify your email address. Once you have received your email, click on the link, and you should now have access to your Coinbase account.
The great thing about Coinbase is that there is no initial waiting period: just sign up, confirm your email address, and you’re done.
The next part sometimes changes (assume Coinbase runs many user tests), but you usually need to provide your mobile number. It’s 100%, so you can set up 2-factor authentication (2FA) to make your account even more secure. This is only used for logging into your account and not notify to you of any significant changes to your account.
If you haven’t seen the 2FA log, don’t worry, it will appear at some point.
Coinbase requires you to register an individual investment account, so the next part of the registration process is to verify your identity.
Coinbase will ask you for your full name, address, date of birth, and a few other personal questions.
After completing this part, the next step will be a photo scan. Since we are discussing how to buy [currency] [symbol] in US dollars, we assume you are of legal age to own a means of identification. If so, you can present your driver’s license, national identity card, or passport to verify your identity.
It may take a few minutes for your identity to be processed and validated, but you’re ready to fund your Coinbase account once the process is complete.
Step 2: Add a payment method (funding) to your Coinbase account
Skip to step three if you already have a Coinbase account with the funding method set up.
To add a payment method to your account, you can click the “Add payment method” box at the top of the main screen on Coinbase, click the profile picture, click setup, and click payment methods.
In the United States, you have the option of funding our Coinbase account with a credit card or bank account.
We’ve found that using a credit card is the fastest way to fund your account; however, you will have a lower deposit limit. Also, check with your credit card company, as some companies charge higher fees or interest for buying cryptocurrency with a credit card.
To use a bank account, select the account again, provide Coinbase with account information, and wait for the account to be verified. This verification is sometimes automatic, depending on Coinbase’s relationship with your bank. If not, it may take a few days as Coinbase will make small deposits to your account, which you will need to verify.
You will have more purchasing power than a credit card when you finance with a bank account.
Step Three: Buy Other Coins
You will need to buy another cryptocurrency (Bitcoin, Litecoin, Ethereum) before JasmyCoin (JASMY)
Here is the problem with buying JASMY with USD. Coinbase does not currently support buying JasmyCoin, but don’t worry. All this work will not be wasted. We promise.
What you need to do next is simply buy another cryptocurrency and transfer it to an exchange that currently accepts JASMY trading.
The safest bet in this respect is to buy Bitcoin in USD on Coinbase, as it is the most accepted trading pair.
If you don’t have an account on another exchange, you will need to go through a similar registration process to have a wallet set up to send you your cryptocurrency. We know this sounds boring, but some exchanges don’t allow US residents to have an account, so the best option is to create an account with them to confirm that you are eligible to trade there.
This may also seem like a double whammy since you just created a Coinbase account. However, keep in mind that not many cryptocurrency exchanges accept credit card or bank account funding in the United States with a guide on the easiest way to buy JASMY in USD.
Once you have set up your account on another cryptocurrency exchange and obtained your wallet ID for your currency, return it to your Coinbase account. You will need to “buy” one of the accepted currencies from the exchange, supporting Coinbase charging.
As with the entire account process, Coinbase has made buying cryptocurrency straightforward.
All you have to do is click on the “Prices” option on the top menu bar, and you will see a list of all the cryptocurrencies accepted on Coinbase.
You can scroll down to JASMY or enter it in the “Search all resources” box.
Now click on the “Trade” button next to the coin, and you will see a box similar to the one below.
Enter how much you want to invest and click the “Buy” button. CONGRATULATIONS! You bought the first USD cryptocurrency on Coinbase.
Now you need to send this purchased cryptocurrency to your new wallet.
Step Four – Make your first purchase of JasmyCoin (JASMY).
Once you have confirmed the transfer of your Coinbase cryptocurrency to your exchange wallet, you will want to initiate an exchange of that specific JasmyCoin (JASMY) cryptocurrency.
Since every trade is different, we can’t provide you with a step-by-step guide on how to trade, but we can give you some tips:
The first is to buy at market price. This is the current price at which JasmyCoin is trading. There is nothing wrong with buying at this price, but watch the price limit if you think the price will go down or want to buy at a lower price.
The maximum price indicates that you want to buy a certain amount of JasmyCoin (JASMY) at a certain price. If the JASMY price reaches this price, your order will be processed. Remember that no matter how volatile the market is, there is no guarantee that the price will fall to the threshold price.
Whichever trading option you select, the purchase price of JasmyCoin (JASMY) will be based on the currency you are trading (e.g., BTC or ETH). Some exchanges don’t convert it to your local currency, so you can always use Google and enter something like “0.0125 BTC to USD”, and Google will tell you the USD amount.
A word of advice, now that you have made your first investment in JasmyCoin (JASMY), you should make sure to keep track of your investment. Although the exchange from which you purchased JasmyCoin is for you, using a third-party website or application makes it much easier for you.
Nnamdi Adibe is a native English writer and can write about many things. With his writing skills, he can provide well-researched content.
Nnamdi Adibe is a prolific writer at gblogo.com. He is interested in bringing you perspectives on financial liberation, fun, and investment from the rare vantage point of experience.
He provides insights on fintech, crypto and digital assets, and sustainable finance and investments and promotes a transparent, secure, and quality digital financial future for everyone.
Determination, honesty, and responsibility are important values of Nnamdi that he tries to maintain at all times.