In the ever-evolving world of cryptocurrency, acquiring specific coins can sometimes be a daunting task, especially for newcomers. This guide serves as a detailed walkthrough on how to buy Epic Cash using the VTEX platform. While the steps can be complex, this article aims to simplify the process.
Disclaimer: The information provided is for educational purposes and should not be taken as financial or investment advice. Always conduct personal research before making investment decisions.
Step 1: Secure BTC
To begin the process of purchasing Epic Cash, your initial step is to obtain Bitcoin (BTC). As of June 2021, Epic Cash is only paired with BTC on VTEX, making it necessary to have BTC first.
Next, you will need to download and install the VTEX application on your smartphone. This application hosts a multi-chain wallet where you can store, send, and receive various cryptocurrencies, including Epic Cash.
Step 3: Create an Account
Creating an account seems straightforward until you reach the section about the mnemonic words, commonly referred to as a seed phrase. Each cryptocurrency wallet generates its own unique seed phrase, which is akin to an extremely long password. This phrase is crucial for recovering your wallet, so it is imperative that you write it down and keep it secure.
Make sure to write down the words in the exact order they appear; failing to do so could jeopardize your ability to access your wallet. It’s advised against taking a screenshot of your seed phrase as it could lead to unauthorized access by others.
To emphasize the importance of this step, the creator humorously shares a personal anecdote about neglecting to save their mnemonic words, cautioning against similar mistakes.
Step 4: Wallet Setup
Once you've successfully created your account, you will have an empty wallet. For efficiency, you should add Epic Cash (Epic-002) and Bitcoin (BTC-000) to your homepage for easy access.
At this stage, you’ll focus on filling your wallet with funds. Although it may appear convoluted due to the various send and receive options, your goal is to ensure your BTC reflects in your VTEX wallet.
To deposit BTC, you will need to use the "cross-chain deposit" feature, which generates a wallet address for your assets. When withdrawing BTC from another exchange, be particularly careful to avoid typos in the wallet address, as incorrect entries could lead to permanent loss of your assets. It’s recommended to copy the address for safety.
Once your BTC is sent, it may take anywhere from 20 to 60 minutes for it to appear in your VTEX wallet.
After waiting for confirmation, the BTC will appear in your wallet as a BTC-000 token. At this point, you can start exploring the market for Epic Cash. Familiarize yourself with the various trading pairs and thorough order book, which details current market activity.
Step 7: Transfer Funds to Exchange Account
To purchase Epic Cash, your next task is transferring your BTC-000 from your wallet account to your exchange account. Since VTEX features both a wallet and trading account, you must specify which account to transfer to for trading purposes. This involves tapping into the asset section, selecting your BTC-000, and confirming the transfer.
If prompted with a message stating that you have no BTC locked for quota, don't worry. You can complete the transaction by clicking "run proof of work." For instant transactions, consider purchasing V tokens and locking them for quota.
Step 8: Start Trading for Epic Cash
With BTC successfully transferred to your exchange account, find the Epic-002/BTC-000 trading pair to begin your purchase. You can enter the desired amount of Epic Cash you want to buy or use percentage buttons for quick calculations based on available BTC. Confirm the trade and finish with another "run proof of work."
You can also choose to set a limit order which will remain in the order book until fulfilled or canceled.
Once you have successfully acquired Epic Cash, you can either keep it in the VTEX wallet or withdraw it to your Epic native wallet for enhanced security.
This comprehensive guide provides a systematic approach to navigating the purchasing process of Epic Cash through VTEX. With diligence and attention to detail, even newcomers can confidently engage in cryptocurrency transactions.
Part 1/7:
A Comprehensive Guide to Buying Epic Cash on VTEX
In the ever-evolving world of cryptocurrency, acquiring specific coins can sometimes be a daunting task, especially for newcomers. This guide serves as a detailed walkthrough on how to buy Epic Cash using the VTEX platform. While the steps can be complex, this article aims to simplify the process.
Disclaimer: The information provided is for educational purposes and should not be taken as financial or investment advice. Always conduct personal research before making investment decisions.
Step 1: Secure BTC
To begin the process of purchasing Epic Cash, your initial step is to obtain Bitcoin (BTC). As of June 2021, Epic Cash is only paired with BTC on VTEX, making it necessary to have BTC first.
Part 2/7:
Step 2: Download and Install the VTEX Application
Next, you will need to download and install the VTEX application on your smartphone. This application hosts a multi-chain wallet where you can store, send, and receive various cryptocurrencies, including Epic Cash.
Step 3: Create an Account
Creating an account seems straightforward until you reach the section about the mnemonic words, commonly referred to as a seed phrase. Each cryptocurrency wallet generates its own unique seed phrase, which is akin to an extremely long password. This phrase is crucial for recovering your wallet, so it is imperative that you write it down and keep it secure.
Part 3/7:
Make sure to write down the words in the exact order they appear; failing to do so could jeopardize your ability to access your wallet. It’s advised against taking a screenshot of your seed phrase as it could lead to unauthorized access by others.
To emphasize the importance of this step, the creator humorously shares a personal anecdote about neglecting to save their mnemonic words, cautioning against similar mistakes.
Step 4: Wallet Setup
Once you've successfully created your account, you will have an empty wallet. For efficiency, you should add Epic Cash (Epic-002) and Bitcoin (BTC-000) to your homepage for easy access.
Step 5: Funding Your Wallet
Part 4/7:
At this stage, you’ll focus on filling your wallet with funds. Although it may appear convoluted due to the various send and receive options, your goal is to ensure your BTC reflects in your VTEX wallet.
To deposit BTC, you will need to use the "cross-chain deposit" feature, which generates a wallet address for your assets. When withdrawing BTC from another exchange, be particularly careful to avoid typos in the wallet address, as incorrect entries could lead to permanent loss of your assets. It’s recommended to copy the address for safety.
Once your BTC is sent, it may take anywhere from 20 to 60 minutes for it to appear in your VTEX wallet.
Step 6: Confirm BTC Deposit
Part 5/7:
After waiting for confirmation, the BTC will appear in your wallet as a BTC-000 token. At this point, you can start exploring the market for Epic Cash. Familiarize yourself with the various trading pairs and thorough order book, which details current market activity.
Step 7: Transfer Funds to Exchange Account
To purchase Epic Cash, your next task is transferring your BTC-000 from your wallet account to your exchange account. Since VTEX features both a wallet and trading account, you must specify which account to transfer to for trading purposes. This involves tapping into the asset section, selecting your BTC-000, and confirming the transfer.
Part 6/7:
If prompted with a message stating that you have no BTC locked for quota, don't worry. You can complete the transaction by clicking "run proof of work." For instant transactions, consider purchasing V tokens and locking them for quota.
Step 8: Start Trading for Epic Cash
With BTC successfully transferred to your exchange account, find the Epic-002/BTC-000 trading pair to begin your purchase. You can enter the desired amount of Epic Cash you want to buy or use percentage buttons for quick calculations based on available BTC. Confirm the trade and finish with another "run proof of work."
You can also choose to set a limit order which will remain in the order book until fulfilled or canceled.
Managing Your Epic Cash
Part 7/7:
Once you have successfully acquired Epic Cash, you can either keep it in the VTEX wallet or withdraw it to your Epic native wallet for enhanced security.
This comprehensive guide provides a systematic approach to navigating the purchasing process of Epic Cash through VTEX. With diligence and attention to detail, even newcomers can confidently engage in cryptocurrency transactions.