Today, we discuss how to buy, sell Neblio, and secure them properly.
#1 Choose your exchange
First, below is a data table of exchanges that support Neblio and the trading pairs that trade Neblio. A trading pair means that you can trade asset X to asset Y. For instance, you can trade Dollar to Neblio or Euro to Neblio.
Usually, a trading pair is displayed as followed: EUR|NEBL. EUR is the symbol for Euro and NEBL is the symbol for Neblio. Every asset has its symbol.
Liquidity is another important factor that you should include when it comes to choosing the right exchange. Liquidity represents the factor of how fast an asset can be bought/sold. In other words, if you want to sell/buy your asset at market price, how long it takes until your asset is sold/bought.
Here is a table of exchanges, which market pairs they support, and how liquid the trading pairs are.
|Exchange name||Traiding pair||Liquidity|
Statistics from coinmarketcap.com.
I should also mention that you can trade Neblio at Changelly. You can trade 100+ assets (cryptos, tokens) against Neblio, but not at a fixed price. This means, Changelly trades for you and probably uses an exchange mentioned above.
If you don’t want to create a new account on Binance or KuCoin, consider using Changelly.
What makes Changelly different from other exchanges like Binance or KuCoin?
You insert the amount you want to trade, for instance, 0.1 BTC and they estimate the amount of Neblio you would get when you deposit 0.1 BTC. Before you confirm your order, you insert your destination address, your Neblio address.
Afterward, you confirm the order and deposit exactly 0.1 BTC to the given BTC address. Changelly automatically exchanges the 0.1 BTC into Neblio coins and deposits them to your Neblio address.
On an exchange like Binance or KuCoin, you have to create an account and do everything yourself. In other words, you have to deposit BTC into the exchange wallet, trade the BTC against Neblio on the exchange website, and withdraw the Neblio to your Neblio address.
I should mention that Changelly charges a 0.25% fee, while Binance only charges 0.15%.
#2 Trading process | How to trade Neblio coins
In my chase, I choose Binance as the exchange I want to use to trade Neblio because Binance has a more liquid market. However, this process works for every exchange and every trading pair.
1. Create an account
Signup link to Binance: binance.com
Sometimes, you also have to verify your account with an ID (Usually, without verification, you have a deposit or/and withdraw limit)
2. Choose a trading pair
In my case, I choose BTC to NEBL, but if you want to exchange for instance Ethereum to Neblio, choose ETH to NEBL. Depending on the trading pair, the price for 1 Neblio can fluctuate. So, it’s worth checking out other trading pairs and maybe get your Neblios for a lower price.
Example: 1 Neblio = 0.00001 BTC or 0.01 ETH
Let’s say 0.00001 BTC = $1 and 0.01 ETH = $1.1 (only examples)
Therefore, you get a better USD return when you sell Neblio to Ethereum, but you get a better buying price when you buy Neblio with Bitcoin.
3. Make a buy or sell order | Buy coins instantly at a selling price
If you want your coins instantly, you have to buy them at selling price, meaning somebody else made a sell order. However, if you are patent, you could place a buying order, meaning you are waiting for somebody to sell their coins to you at a lower price.
The difference at Binance is usually 0.00000001 BTC, which is not that high (Difference between selling and buying orders). Furthermore, the assets are liquid, so you could make a buying order 0.00000001 BTC lower than the lowest selling order and you would probably don’t have to wait longer than 1-4h until you find somebody who sells you their coins.
Example: When you buy 1000 Neblio at a 0.00000001 BTC lower price, you save 0.00001 BTC.
4. Withdraw coins
Now it’s time to secure your coins. Withdraw them to your Neblio wallet.
#3 Choose your Neblio wallets
If you don’t have a Neblio wallet, you are not able to do the 4. step.
To get a Neblio wallet, go to nebl.io and download the wallet for your operating system.
After the installation, you get a Neblio address from the wallet. Use it to withdraw your funds from the exchange.
Why are we withdrawing funds from the exchange? Can’t I use an exchange as a wallet?
Yes, you could use an exchange to hold your coins. However, it is really unfortunate if this exchange gets hacked or has a bug, or the Neblio wallet is on maintenance and you can’t withdraw or trade your funds.
So, it’s usually better to withdraw your funds.
#3.1 Securing your wallet
The first thing you want to do when you installed the wallet is to set a passphrase. This passphrase encrypts your wallet and is used to withdraw funds.
It protects your Neblio if somebody else gets access to your PC/wallet and wants to withdraw your Neblio.
To set a passphrase go to “Settings->Passphrase”. If you forget your passphrase, you are not able to withdraw ANY Neblio.
Make at least two backups of your wallet. Consider using an external device, for instance, a USB stick.
You need a backup of the following things:
- wallet.dat (found in the folder of your Neblio wallet)
Both things are needed to withdraw funds from your wallet.
Remember the following:
If you don’t have access to these two things, you don’t have access to your funds.
#5 Passive income with Neblio
Neblio has a Proof of Stake algorithm implemented, which can be used to get passive interest. In other words, if you hold Neblio, you earn passive income for free.
Consider reading this guide: How to Stake Neblio. It’s a detailed guide on how to get started with staking.
If this guide helped you feel free to share it.