Facecoin – Facebook Facecoin | Exchange Ethereum for Facecoin
The Facecoin is a new authorized open-source cryptocurrency that offers users both private and transparent transaction types and then users earn tokens by servicing thier requests. For your information objects are stored in an encrypted shard database, with user registration running on the Ethereum smart contract system and also utilizing public key. This Facecoin deals with the buying and selling or exchange of currencies, the Facecoin is owned by Facebook.
Now the Facebook platform has banned or prevents cryptocurrency and ICO advertisements on its platform and why is it so?, it has appeared that Facebook is establishing a blockchain working group which is led by the former head of the Facebook messenger app, David Marcus. It is more like bitcoins, but this time owned by Facebook.
Now since David Marcus is also the former president of the PayPal platform and a board member at Coinbase, he is now the one to lead the Facebook cryptocurrency project. It has been reported that lots of people of there want to do cryptocurrency today. I will say as a beginner you should start with this facecoin. On this article I will tell you how to buy facecoin and also how to sell or exchange it with other currencies.
How to Buy Facecoin
If you are interested in buying Facecoin and maybe you don’t know how to do so, then read the steps given below; but note that you must have an account on coinbase then also buy Ethereum which will be later converted to Facecoin.
- Access the internet, and then go to www.coinbase.com.
- Now click the “get started” link.
- After that you will now fill in your names, email and also password.
- The click on the small box to agree with the terms and policy.
- When you have done that click on the create account button below.
- Then to verify your email, go to your email address and open the message sent by coinbase.
- When opened click “verify email address” button.
- Then fill in your country and also your phone number.
- Now when you have done that click on the send code button below.
- You will receive a code on your phone.
- Then enter the seven digits code sent you in the box and click the submit button below.
- Now upload an image of your photo ID and also verify your card [credit or debit] only then you will be able to buy cryptocurrency.
- When everything including your bank details has been verified, click “buy/sell” button located at the top of the menu.
- Now select “Ethereum” and then enter how much money you want to spend or how many coins you want to buy in the windows located at the bottom of the page.
- When you have done that, click the buy button.
- After that you will now have confirm your purchase, and you can do this by pressing the “confirm buy” button.
After this you have successfully created an account on the coinbase platform. But to complete your operation you must also have an Etherdelta account.
How to Create an Etherdelta Account
Here are the steps given below;
- Now click on the drop-down arrow at the top of the page.
- You will see some options; scroll down until you see FC.
- When you have seen it, click it.
- Now asking help on the Etherdelta platform chat channel is risking to be scammed because people will claim that they work for Etherdelta and they will ask for your private key to help you. These people are scammers so never give them your private to them or anyone.
- To create an account on the on Etherdelta platform, go to www.etherdelta.com.
- Then click the “account” link at the top of the page, options will appear.
- Click on the “new account” option and you will successfully create your account on the Etherdelta platform.
- After that, you should now see your Ethereum wallet address and its private key.
- Now copy or write both of them down and make sure to keep them safe and never lose them.
- But note losing the private key may mean losing access to your coins.
- After that, press ‘ok” once you have filled in your information.
You have successfully created an Etherdelta account and ready to transfer Ethereum from coinbase to Etherdelta.
How to Transfer Ethereum from Coinbase to Etherdelta
Here is how to transfer Ethereum from coinbase to Etherdelta;
- Go to the coinbase site.
- Then click “accounts” on the top menu bar.
- After that find your Ethereum wallet, it is listed on the left.
- Then click send.
- Now paste the Ethereum wallet address, you copied from Etherdelta into the recipient box.
- Make sure you type in how much Ethereum you want to transfer in the amount box.
- When you are done click “continue”.
- Then the coinbase will then ask you to confirm your order with your password or phone.
- Then follow the instructions until the coinbase confirms that the Ethereum coins have been sent.
This is how to transfer Ethereum from Coinbase to Etherdelta.
How to Exchange Ethereum for Facecoin
For your information, the Etherdelta deals with gas, a sort of fee for computer resources miners invest to carry out transactions. You must adjust the “gas price” on Etherdelta to make your transaction on the p-platform very fast.
Now click the furthest button on the right side on the top menu, and then select “gas price” on the dropdown list. After that, a popup will be opened, make sure you type in a minimum of 30 and also then click “set gas price”.
But note that the gas prices are paid for all transactions, even if they fail. Now low prices mean transactions that are slow or carry the list of failure. Now it is recommended for you to visit this site to keep you informed or aware of what the “recommended gas price” is at any moment. The best choice is to set the Etherdelta gas price to be equal to the gas price number under “standard [<5m]”.
- Now the Ethereum in your account will display under “balance”.
- Now enter or type in how much Ethereum you want to trade for FC in the amount box below ETH.
- Make sure you do not trade all of the Ethereum you have because you will need some to stay in the wallet for the gas fees. For example, if you have 10 Ethereum to trade, it would be wise and safe to end 9.95 in the box.
- Then click “deposit” once you are done or satisfied with the amount.
- There will be a pop up to notify you that the coins are on the move.
- Now you can click the link if you want to watch the transaction go through the Ethereum blockchain.
- After that be ready to trade once Ethereum has moved to the “Etherdelta” column in your balance.
- Make sure you take a look at the “order book” column; it contains the list of current buy and sell orders for FC.
- The red orders are people who wish to sell, and then the green is users who wish to buy FC.
- The FC/ETH indicates the ratio of one currency to the other.
- FC is the amount of Facecoin that the users want to either sell or buy.
- ETH is the price of the transaction in Ethereum.
- The Etherdelta presents you with two buying options.
The first option is the easiest way to buy Facecoin and the easiest way is to click a sell order.
- After that press “buy” in the pop-up menu.
- But note that scammers are here and they will list coins at very bad rates hoping to trick others into buying coins and overpaying. So make sure to check prices and see if it is reasonable and important.
- Also use a calculator to view what the rating should be when trading FC for Ether.
- Now if you don’t want to buy the whole amount.
- You can do so by editing the amount of Facecoin you are buying in the “amount to buy” box.
- Then if the operation is successful a pop up menu will display with the transaction link on the blockchain.
The second option is the more advanced option, because it is not recommended for first time users on Etherdelta.
- Now to buy FC you should click the “new order” button.
- Then input how much Facecoin you want to buy in the FC box.
- After that set the buy ration in the “FC/ETH” box.
- Also be very careful because Etherdelta users are known for being confused by the ratios and the exchange rates.
- Now the top buy order is a good indication of what the good going rate of trade is.
- Then the next ETH will be automatically filled with the Ethereum cost of this transaction.
- After that press “buy” if you the number is OK with you.
- Now the order will be posted on the exchange, it might be either filled by a seller or might expire eventually. And in this case, the Ethereum will be returned to your balance.
Now if you use the first option the FC will soon appear in your Etherdelta wallet. But if you use the second option then the FC will only appear after or if someone fulfills your order. When all these steps are followed correctly, then you will have a successful purchase of Facecoin.
How to Protect FC after Purchasing
Make sure you store your Facecoin in a secure wallet; leaving Facecoin on an exchange put you at risk of losing cash if the exchange gets hacked. This is why it is very important and safe to use 2FA.
How to Sell Facecoin
The Binance and Changeling are the safest and reliable place for you to exchange your FC to any other cryptocurrency. But if you want to exchange it to regular currency, then trade with FC for bitcoin and exchange BTC into dollars, euro or other currencies.