NEXUS.IO BLOCKCHAIN 101 FAQs & GLOSSARY
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Buy NXS

What is NXS?

NXS is the native currency for the Nexus blockchain. There are three ways to obtain NXS: purchasing, staking, and mining. To learn more about Nexus Economics, please click here.

This page includes various guides about how to purchase NXS, external links to the locations of where you can purchase nxs, and our on site Instaswap or Swapzone Widgets.

Disclaimer: Each exchange and swap platform have their own individual Terms of Service. We ask that all Nexus Community members do their research on whether they are located is a permitted location of service for any platform before purchasing or trading for NXS.

If you have any questions or difficulties in the process of buying NXS, please contact us on the Nexus Support channel on Telegram.

Where do I get it?

The video below is brought to you by The Digital Future!

Buy NXS on Bittrex with a credit / debit card:

How to Purchase BTC

1. Set Up Account

Setting up a Coinbase account is simple. Just click the “Sign Up” button at the top of the page and fill in the required information. Although you don’t need to provide identification to create an account, you can avoid potential verification problems if you enter your name and other required information consistent with your ID. After completing the signup process you will have created a basic Coinbase account.

2. Link Your Bank Account

There are three primary ways to purchase cryptocurrency on Coinbase.

  • Bank Transfers (ACH) – free transfer, usually available within 5 business days

  • Wire Transfers – wire fee, usually available within 2 business days

  • Credit/debit card purchase – 3-5% fee, usually available within 1 day

In most cases, the ACH bank transfer is the cheapest and best option. This requires that you link your bank account to your Coinbase account. Click on Settings in the Coinbase menu. Then click on Linked Accounts. Finally, click the Link a New Account button. Follow the instructions to link your bank account. For some banks, linking your account requires sending microtransactions to your account. You will have to log out of Coinbase and wait to receive two small deposits. After they arrive, return to Coinbase and enter the amounts to complete your bank account setup.

3. Verification

Coinbase does not require you to provide much information or confirm your identity. It also has relatively low limits for deposits and withdrawals. If necessary, you can increase these limits by completing the identity verification process. KYC (Know Your Customer) regulations have become more stringent over time. It is a good idea to complete verification on most exchanges where you register accounts. For Coinbase, you can access the verification process by clicking on Settings in the menu. Then click on Limits and follow the instructions for increasing your limits.

4. Two-Factor Authorization (recommended)

For security purposes, you should always set up two-factor authorization (2FA) on your exchange accounts. This helps prevent someone potentially accessing your account using a stolen/hacked password. Security is of utmost importance with cryptocurrencies, so you should not take any shortcuts. There are multiple ways to do 2FA. For example, your bank may send you a text message with a code when you attempt to perform certain actions such as changing your password. While more secure than no verification, text verification can be compromised if your cell phone is compromised. The most secure method for setting up 2FA is to use an app such as Google Authenticator on your cell phone. You can set up and link your authenticator app with Coinbase by clicking on Settings in the menu, then on Security. Coinbase will show you a screen with a QR code that you can scan using the authenticator app on your phone. Print out this screen, or otherwise save it. Store this in a secure place. Then, if you get a new phone, having that allows you to easily re-create your authenticator settings.

5. Purchase Bitcoin

The simplest way to purchase BTC (Bitcoin) on Coinbase is to do an instant buy, at the current price, using your bank account as the form of payment. To do this

  • Click Buy/Sell in the Coinbase menu.

  • Verify your bank account is selected as the payment method.

  • Enter how much you want to buy.

  • Press the “Buy Bitcoin Instantly” button.

Coinbase will execute your buy, then transfer the payment from your bank account. This will take 4-5 business days. Until then, your BTC balance will be marked as “Pending”. It will become available after your payment is processed. This process is similar to the settlement process when you buy stocks in the financial markets which can also take up to 5 days. The instant buy locks the price at time of purchase. Your BTC then needs to be transferred to an exchange which lists NXS.

6. Transfer Bitcoin to an exchange

When you have set up an account on an exchange (Binance, Bittrex, etc), you will then be able to transfer your BTC.

1. Fund Your Account

Before you can buy cryptocurrency with fiat currency on GDAX, you must fund your account. GDAX does not support the “Instant Buy” function that Coinbase has. Nor does it allow you to purchase with a credit/debit card. The Coinbase interface is easy to use, though, and the two exchanges share your account, so it is simple to perform a transfer from your linked bank account. To do this:

  • Log into Coinbase.

  • Click on Accounts in the menu.

  • Click the Deposit button on your fiat wallet (USD wallet).

When you become more familiar with the GDAX interface, you can also create this transfer there, and skip Step 2.

2. Move Your Funds to GDAX

After your transfer completes (4-5 business days), your money is available in Coinbase. You can’t use it in GDAX, yet. First you must transfer it over. There is no cost to do this and it is instant.

  • Log into GDAX (same credentials as Coinbase). It will load straight into the trading page.

  • Near the upper left, click on Deposit.

  • Click on the Coinbase Account tab.

  • Enter the amount and click Deposit Funds.

Your funds will immediately transfer to GDAX and appear under Balance on the page.

3. Purchase Bitcoin

The trick to buying on GDAX is in how you place your order. You can place Limit or Market orders. If you place a Market order, you will pay exchange fees. If you place a Limit order, you pay zero fee. This is called a “Maker/Taker” fee structure. By using a Limit order, you can take advantage of this and save on fees. To buy Bitcoin:

  • Check the top of the screen for the current market. If it does not say “BTC/USD” then click the dropdown and select that market from the list.

  • Click on the Limit tab in the order box and on the Buy button.

  • You can enter any price below the lowest current Ask, then click your USD balance to enter that amount. It will compute the amount of BTC you will receive.

  • Click Place Buy Order.

Limit orders do not necessarily execute immediately. Sometimes, if the market price moves away from you, they won’t execute at all. You can, if necessary, cancel your order and enter a new one at a different price.

When you have set up an account on an exchange (Binance, Bittrex, etc), you will then be able to transfer your BTC.

How to Purchase NXS

Swapzone is an instant non-custodial cryptocurrency exсhange aggregator that constantly monitors the best exchange rates for users to exchange thousands of different cryptocurrencies instantly, with low fees and no registration. NOTE: After pressing "exchange", you will be redirected to the Swapzone website to complete the swap. Please read Swapzone's Privacy Policy and Terms and Conditions before completing a transaction to verify you meet eligibility to do so.

InstaSwap is a Non-Custodial Exchange Platform that allows users to exchange directly at market price within minutes. As a privacy focused platform, your personal data is safe and never shared. Keeping your anonymity intact. Instructions for how to use the widget are listed below.

  1. Choose your payment method (Fiat, BTC, or NXS)

  2. Enter an amount greater than the minimum transaction amount

  3. Enter the necessary addresses required for the transaction (receiving, sending, email)

  4. InstaSwap Charges A Transparent Fee 0.4% From The Final Amount and KYC is required for Fiat and some BTC purchases

  5. Send your BTC or NXS to the provided address to begin your trade, or follow the prompted steps for Fiat transactions

  6. Instaswap will find the best trade rate for you. Once the trade is completed, they will send the coins to your provided recieving address

  7. Please verify all addresses provided are correct before completing the transaction.

You can access the Binance exchange here: https://www.binance.com

Step 1 – Set Up Account

To create an account, follow these instructions:

  • Top right hand corner click ‘Login or Register’

  • Enter your details, and press ‘Register’

  • You will then be sent an email to the one used in the Registration form. On the email, click ‘Verify email’. Now you can login to Binance.

Step 2 – Two-Factor Authorization (recommended)

Upon signing in, you will be prompted to set up Two Factor Authentication (2FA) – we strongly recommend you follow the steps in setting this up, as it improves the security of your account.

The instructions to set up 2FA are clearly displayed on your profile home screen. Follow the 4 steps, and keep a note of the 16 digit value.

There are 3 exchange ‘settings’ which determine your 24 hour withdrawal limits:

Level 1: 24h withdrawal limit of 2BTC

Level 2: 24h withdrawal limit of 100 BTC (Submit Verification Documents to activate)

Level 3: 24h withdrawal ‘Higher Limit’ (requires contacting Binance).

Step 3 – Transfer Bitcoin to Binance

After you have you have purchased your BTC, you can then to send it to Binance.

  • In Binance, hover over ‘Funds’ in the top banner, and click on ‘Balances’.

  • Then in the top left hand search box, search ‘Bitcoin’ or ‘BTC, and click on ‘Deposit’ on the left.

  • Your Bitcoin address displays in the ‘BTC Deposit Address’ box. It is a long string of numbers and characters, known as a “public key.” This key is similar to an account number and provides the address of your Bitcoin wallet on the Binance exchange. Copy the entire address.

Here, as an example, we will explain a transfer from Coinbase.

  • Click on Accounts in the Coinbase menu. In the “Your Accounts” list, your BTC wallet should show your Bitcoin balance. Click the Send button, which opens the Send BTC window.

  • Under Recipient, paste the BTC address you copied from your exchange.

  • IMPORTANT – Verify that the address you pasted on Coinbase exactly matches the address in the deposit window on the exchange Always double check before you send. If you send BTC to the wrong address you could send cash to a random person, or it could get completely lost.

  • In the Amount section, you can click in the BTC box then click Send Max to send all your Bitcoin to the exchange.

  • Finally, click Continue to execute the transfer of BTC from Coinbase.

When you send your Bitcoin, it will take at least 30-40 minutes to arrive on Binance. During times of heavy transaction volume, it may take several hours. This is still much faster than a bank transfer. After your Bitcoin transfer arrives on Binance and is confirmed, your BTC balance will display on the ‘Funds -> Balances’ page.

Step 4 – Preparing to Buy Nexus

Now you have your Bitcoin on the Biannce exchange, and are ready to buy Nexus (NXS). First, you must access the BTC-NXS market. The easiest way is to hover over ‘Funds’ in the top right hand corner, and click on ‘Balances’. This will take you to the list of all the coins on Binance. Just underneath the word ‘Balances’ in the top left hand corner there is a search box, search ‘NXS’ or ‘Nexus’ and click on the far right rectangle named ‘Trade’. Then choose which cross you wish to trade NXS with, assuming you have followed the steps above, and are using BTC to purchase NXS, please click on the ‘NXS/BTC’ option.

Before entering your buy order, take a moment to look at the prices. These are listed in Bitcoin (BTC). The BTC currency has 8 decimal places – the smallest Bitcoin unit is 0.00000001 BTC. This is called a “Satoshi” after the creator of Bitcoin. Satoshis are to Bitcoin as cents are to dollars.

The top left hand list of transactions shows the NXS for sale, the ‘cheapest’ of which being at the bottom of the list. The opposite goes for the buy order book below in green, the highest number being the highest price offered to buy NXS for.

  • The first column is the BTC price per NXS in that row

  • The second column is the total amount of NXS for sale at that BTC price

  • The third column is the total BTC value of the NXS on that specific row.

Step 5 – Buy Nexus

Underneath the large chat in the top middle of your page, there are two boxes, one to buy NXS, the other to sell NXS. You will use the Buy Nexus box.

  • You can click on any price in the order book, and it will automatically be loaded into the Buy Nexus box under Trading. This way, you do not have to manually enter the price.

  • Assuming you wish to use all your BTC to buy Nexus, click the Max button in the Buy Nexus box. This will calculate how much NXS you can get for the price you selected and enter it for you.

  • Click the Buy Nexus button to create your order.

Depending on market conditions, your order may or may not execute immediately using this method. If it is not immediately filled, or is only partially filled, it will display under “Open Orders” below the Order Book section. After it is completely filled, it will move to the “Order History” section at the bottom of the page. You have now purchased your first NXS currency. Hover your mouse over ‘Funds’ in the top menu and click on ‘Balances’ to see your NXS balance.

Note on dust: The amount of BTC you own probably will not exactly match the cost of purchasing your NXS. Often, there is a very small amount of BTC (usually at most a few cents worth) left over. This is known as “dust” and there isn’t much you can do with it other than leaving it in your Binance wallet to apply towards any future purchases.

This guide describes the processes of registering for an account on the Bittrex exchange, depositing funds from a debit card from a US bank into a USD account on Bittrex, trading USD for Bitcoin (BTC), and finally, trading BTC for NXS.

Registering an Account on the Bittrex Exchange

Individual accounts on Bittrex are identified by unique usernames which are actually an email address. Each email address is unique to the account with which it is associated.

Because of the potential for financial impact involving the use of your Bittrex account, the process of creating and verifying an account includes several security measures to prevent unauthorized access and to protect your account.

  1. Begin the account registration process by going to https://www.bittrex.com/Account/Register. The following screen should appear.

  2. Choose whether to create a Personal or Corporate account. The instructions in this document assume creation of a Personal account.

  3. Enter the email address to use for this account. The email address entered will be used as the account’s Bittrex username.

  4. Enter a password to use for this account. Passwords must be at least 12 characters long. It is recommended to use both alphanumeric characters and symbols to enhance password security.

  5. Click the Create Account button. A verification email will be sent to the email address specified in Step 3 above. Upon receipt of the verification email, click the Verify Email button in the email to verify the email address.

  6. Note that the verification will verify the browser on the device you are on; thus, you must ensure the same browser opens when clicking the Verify Email button. Otherwise, you will get a “device verification failed” error.

  7. After verifying the email address, the Terms of Service will be presented for review and agreement. Be sure to read, understand, and agree to all conditions and restrictions to own and use a Bittrex account. Once this is done, click Accept Terms.

  8. Next, the screen for entry of Basic Profile Info will be presented (screenshot below). Complete all fields using a keyboard with Latin (English) characters. Characters and symbols in other languages cannot be processed and will result in a failed verification.

  9. Click the Continue button to proceed to ID Verification. All Bittrex accounts must be verified with government-issued identification. To begin the process, click Start Verification. Identity verification requires photos of your official government identification and a selfie (face photo).

  10. Note that it is strongly recommended to use a passport for the identification. This is the most widely accepted identification document; other forms of accepted identification vary by country.

  11. Follow the ID Verification directions carefully. The required images may be captured by the camera on your mobile device or uploaded from an image file. An image of the front of the ID and a selfie are required. If ID other than a passport is used, a request may be made to submit an image of the back of the ID. If on a computer without a camera, please select the Issuing Country/Region and ID Type. The next page prompts to submit the ID, where one can select “Switch to mobile?” to continue on to the mobile device. Choose the option that works best for you (email, QR code, copy link) to continue on your mobile device. By submitting a selfie, users may avoid the primary reason people encounter identity verification delays.

  12. Note that the web page must remain open while using your mobile device.

    Any submissions that do not satisfy these requirements will fail automatically. If this happens, you will be directed to repeat the verification steps with some tips on how to submit a successful verification. After three (3) failed attempts, you will have to submit a support ticket for an agent to assist in the verification process.

  13. ID Verification can take up to 10 minutes to approve. It is important to keep the page open while the verification is processing. Upon successful verification, the next step in the process will automatically be presented.

  14. As a standard Know Your Customer (KYC) practice, Bittrex requests basic financial information regarding source of funding. Follow the prompts presented in the screenshot below and click Continue.

  15. To comply with US regulations and further verify identity, Bittrex will request your Social Security number be provided. When prompted, select Yes, then enter your Social Security number and click Submit.

  16. Note that selecting No if you do not have a Social Security number will require submission of an Alien Identification Number or Passport Number instead.

  17. Upon successful identity verification, a message will be received stating that this is the case.

Establishing Multifactor Authentication on Your Account

Upon approval of a new account, it should be set up to use multifactor authentication (2FA). This will ensure that only the account owner uses the account which is important because of the financial nature of what can be done with the account. The method of 2FA Bittrex employs is the Google Authenticator app which must be installed on the account owner’s mobile device. Details instructions for setting up 2FA for Bittrex can be found at the following page: https://bittrex.zendesk.com/hc/en-us/articles/115000198612-Two-factor-authentication-2FA.

Getting Funds into Bittrex from a US Bank Debit Card

The following steps allow funding from a debit card from a US bank into a US dollar wallet on Bittrex.

  1. From the main Bittrex screen, click the Holding link in the group of links at the top-right of the screen.

  2. Once the Holdings screen displays all of your fiat and crypto holdings, click the Debit card button.

  3. The Deposit USD from debit card screen will display. Enter the number of dollars to pull from the debit card. Note that Bittrex will deduct a 3% fee on top of the amount being pulled from the debit card.

  4. Click the Enter card info next button to display the screen on which the debit card details will be entered.

  5. The screen which displays contains all of the fields required to identify the debit card and the person who owns it. Enter the contents of all fields. Card holder is the name of the person who owns the card. The CVV is the three-digit code on the back of the debit card.

  6. Further down the form are the fields required to identify the person who owns the card from their billing information.

  7. If you agree to the Terms & Conditions and the Privacy policy, which is required to continue the process, check the checkbox below the State field. Then click the Continue button.

  8. The vendor Bittrex uses to access US banks requires further identification Choose the telephone number on file which the system should use to send the verification code by clicking on the radio button preceding the masked phone number. Then click the Continue button.

  9. The screen that displays allows entry of the code sent to the specified phone number. Enter the code in the field labeled Enter code, then click the Submit button.

  10. Bittrex then displays an indication that the card verification process is complete. Close the display by clicking the close button (“X”) at the top-right of the display.

  11. After a brief delay that depends entirely on the bank, the funds will be received into the USD wallet on the Holdings screen. An example screenshot of the Holdings screen with funds in the USD wallet is displayed here.

Purchase BTC with USD, and NXS with BTC
  1. Once USD funds are available in the USD wallet on the Holdings screen, go to the Markets link in the group of links at the top right of the screen. Navigate to the BTC USD market as shown below.

  2. Upon display of the BTC USD market screen, the order screen can be seen on the top-left of the screen.

  3. This is where the details of the trade from USD to BTC are entered. Bid is the price currently being requested by people who want to buy BTC; Ask is the price currently being requested by people who want to sell BTC. Last is the price from the last trade in the market. Any of those three links can be clicked to populate the Price field, or manually enter the price to pay. This is for Limit orders, which should usually be used, rather than Market orders which can get filled at much less advantageous prices.

  4. The percent links between the Quantity and Total plus fee fields allow quick selection of how much of the available USD is used for this trade. Clicking the 100% link will automatically populate the Quantity and Total plus fee fields with amounts based on use of all USD available for trading.

  5. Once the order is properly filled out, click the Place buy order (BTC) button. A confirmation dialog will display. Verify the details of the trade, and click the Confirm button to execute the buy order.

  6. The Open orders and Closed orders tabs on the left-middle of the market window can be used to determine the status of the buy order.

  7. Once the order has been completely filled and is displayed in the Closed orders tab, navigate to the NXS BTC market using the Search field at the top-left of the market screen. Enter the symbol for NXS in the search field, then click on the NXS BTC market.

  8. The NXS BTC market has the same order entry screen used in the BTC USD market. The difference is that the amount of BTC available for trading is displayed instead of USD. Everything else works the same.

  9. Once the NXS buy order has completely filled, click the Holdings link in the group of links at the top-right of the screen. The NXS wallet should be displayed with all of the NXS that was just purchased.

View the tab below to learn how to withdraw NXS from the exchange.

This guide will walk you through the process of withdrawing NXS from the Bittrex exchange.

  1. The Nexus wallet (desktop or mobile) is the safest place to hold recently purchased NXS. Click the Withdraw link on the right side of the NXS Bittrex wallet row in the Holdings screen.

  2. The following dialog will display allowing entry of the address of the Nexus wallet to which the NXS should be withdrawn. Note that Bittrex takes a 0.2 NXS fee for withdrawals.

  3. The Withdrawal amount field can be populated by hand, or the link immediately below it containing the amount of NXS available to withdraw can be clicked to automatically populate the field with the full amount.

  4. Get the Recipient’s wallet address by going to the User screen in the Nexus desktop wallet. Clicking on the wallet address (the hash made up of groups of characters) for the account into which the NXS should be withdrawn copies that address to the computer’s clipboard. It can then be pasted into the previous screen’s Recipient’s wallet address.

  5. To confirm the withdrawal, enter the 2FA code from Google Authenticator, SMS, or email, depending on the 2FA method previously established.

  6. After a delay of anywhere from five minutes to a half hour, Bittrex will release the NXS just withdrawn. The status of the withdrawal will be reported on the Withdrawals tab of the Holdings screen.

  7. Once the withdrawal moves from Pending Withdrawals to Withdrawal History, Bittrex provides a transaction ID. That ID can be used to search the block explorer for the status of the withdrawal transaction.