5. Buying SCLP with a market order on Kucoin
Now that we have funds in our kucoin account, we need to go into the market and purchase our SCLP tokens.
Make sure that the USDT is in your Trading account instead of your Main account - if you haven't transferred it yet go back to the last step and do so.
- Go to the ‘Trade’ dropdown on the top left menu and select ‘spot trading’
- This will open up the market screen. Click on the product at the top left to choose the right market, this usually defaults to BTC/USDT .. in the search box type ‘SCLP’ – this will give you the option of SCLP/USDT and SCLP/BTC. Selects the USDT option.
- In the order box at the bottom right, select ‘market’ order and enter the amount of SCLP you would like to buy in terms of USDT. Press ‘Buy SCLP’ when you are done.
Select 'market' , the amount of SCLP you would like to buy and click Buy SCLP
Note: Make sure you have selected the market tab as shown below. You don’t want a limit order at this point.
Needs to be a market order to execute immediately
- Now we need to purchase BNB tokens (this is to pay for transaction fee’s on the Binance smart chain network) - return to the trading > spot trading tab in the menu and in the market search bar type ‘BNB’ and look for BNB/USDT
We are purchasing BNB to pay for transaction costs - this is minimal so you will only need $20 worth - you need at least 0.01 to transfer from Kucoin.
- Purchase around $20 worth of BNB, the minimum withdrawal amount is 0.01 BNB, so make sure you have at least that. Transaction fee’s for SCLP activities will be minimal so $20 will be enough.
- So you should now have both SCLP tokens and BNB tokens in your Trading account and we can transfer them to your Main account and then to Metamask in the next step.