How to Buy Siacoin (SC)

If so, you may want to consider Sia, a crypto asset that aims to disrupt the file storage market by creating a decentralized, cloud-based option where users can even earn money storing data. 

Branded as the “AirBnB for hard drives,” Sia allows users to store files without concern that their data is being looked at by companies or corporations, or used in ad targeting or otherwise sold to third parties. 

Not sure yet why you’d want to buy SC? Feel free to read our ‘What is Siacoin?’ guide. It offers a more extensive breakdown of its technology and vision. 

If you’re going to be using Sia, Siacoin (SC) is pivotal for accessing its services. 

Those looking to store files on a Sia user’s hard drive pay for that privilege using SC. In turn, those renting out their excess space get compensated in SC. 
 

There are a number of ways to buy SC. However, many find that it is easiest to purchase it through a trusted global exchange like Kraken. 

Aside from offering the lowest fees in the industry, Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world. This matters because if you lose the private key to your SC, it can be challenging if not impossible to recover your funds. 
 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you.

Follow the steps below to start buying SC on Kraken: 

1. Sign up for a Kraken account.
   First, enter a valid email address, create a new username and set a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can buy SC with cryptocurrencies like ETH and DASH. In order to use fiat currency (i.e. USD, EUR or CHF), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.

3. Deposit fiat currency.
   You can fund your account in a number of ways. How you do so will depend upon your location and preferences.

4. Purchase SC!
   Once your account is funded with fiat, you’re ready to purchase SC. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize spot trading on margin*, features that help make the Kraken experience beloved by millions of global traders.

*Availability of margin trading services is subject to certain limitations and eligibility criteria.

Once you buy SC, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to store your SC in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

There are many types of SC wallets available. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

When choosing a crypto wallet for your SC, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
 

Ready to take the next step toward using a decentralized storage platform? Click the button below to buy SC on Kraken today!