If you’re new to the Cryptocurrency-World, it might be a little confusing and overwhelming at the beginning. This Blog aims to bring some light to the dark and show you how to purchase CloakCoin with Fiat, in this case Euro (€) and/or Bitcoin (BTC). Before you do that, you should read this Blog, to learn ‘What CloakCoin is’. If you know that already, just skip this part :-)

As mentioned there are two ways to purchase CloakCoin:

Euro (€) — CloakCoin

In my eyes, it is a big advantage that Trading-Pair Euro and CloakCoin exists. Even though, it is considerate, that the fees are a bit higher than the second option:

2. BTC — CloakCoin

It’s needless to say, that it’s required to buy Bitcoin before you can trade them with CloakCoin.

Set up your Wallet

In order to be in possession of CloakCoin, it’s advisable to have your own Wallet:

1. Download the Desktop-Wallet for your operating software

2. Download the Blockchain, to be up to date

3. Create your individual Address (Public Key) with your Password

4. Create a Backup-file, to be able to recover your wallet

After you’re done with this Steps, you’re able now to administrate your Addresses and therefore your CloakCoin. The next step is to buy your CloakCoin:

Euro (€) — CloakCoin

A direct way to change your Euro (€) into CloakCoin is LiteBit.eu:

You need to create an account on LiteBit.eu

You can use my reference link to do so: https://www.litebit.eu/en?referrer=141827

2. Click on ‘Buy’ and then CloakCoin

3. You need to enter your ‘Receive Address’, that’s the Address from your Wallet from above

4. And you need to choose your ‘Payment Method’:

5. Agree to the Terms and Conditions and follow the Instructions

After your Payment is complete, you will receive your Coins on the entered Address.

Bitcoin (BTC) — CloakCoin

You can purchase CloakCoin via the following Exchanges:

OpenLedger / Livecoin / Upbit / Cryptopia / Yobit / Mercatox / Bittrex

This following Step by Step is done with Bittrex. The other exchanges should be similar to that procedure.

1. You need to buy Bitcoin (BTC) first in order to change them to CloakCoin.

2. Create an account on your chosen Exchange

3. Click on (1.) Wallet, then (2.)+ before BTC. Bittrex creates now an individual Address for you.

4. Deposit / Send your Bitcoin (BTC) to this individual Address

5. Open the Trading-Pair BTC — CloakCoin

6. Place your Buy-Order by filling out this:

7. Wait until your Buy-Order is accepted by someone

8. You can now Withdraw/Send your CloakCoin to your Wallet by clicking on ‘Wallet’ and then the (-) before CloakCoin. This is similar to Step 3. Make sure you Withdraw to the right Address from your Wallet.

After following this Steps, you can call yourself a proud owner of CloakCoin. You have now the chance to increase your amount by Staking/Minting your Coins in your wallet. Learn what this means and how to do so by reading this Blog about the Passive Income with CloakCoin.

If this article was useful to you, don’t forget to send some Peace & Love to: C3vGyjauAJAAyBGnhdD8jKDCZEuy8L88J1

Upvote this article on steemit.

Read also ‘What is CloakCoin’.