This is a short guide to safely buying Bitcoin Diamond (also known as BCD coin) on the Kucoin exchange.
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What is Bitcoin Diamond
Bitcoin Diamond (BCD) is a fork of Bitcoin that occurs at the predetermined height of block 495866 and therewith a new chain will be generated as the BCD. Bitcoin Diamond miners will begin creating blocks with a new proof-of-work algorithm, and will consecutively develop and enhance the protection for account transfer and privacy based on original features of BTC. This will cause a bifurcation of the Bitcoin blockchain. The original Bitcoin blockchain will continue on unaltered, but a new branch of the blockchain will split off from the original chain. It shares the same transaction history with Bitcoin until it starts branching and coming into a unique block from which it diverges. As a result of this process, a new cryptocurrency was created which we call “Bitcoin Diamond”.
BCD Token Details
Name: Bitcoin Diamond
Total Supply: “Unknown”
Circulating Supply: “Unknown”
Step 1 – Register at Kucoin
To buy the token, you first need to sign up at Kucoin.
First go to Kucoin.
Next you need to click on the “Sign up” link.
Go ahead and Register at Kucoin by adding your personal details.
To sign up for Kucoin you’ll need a valid email address and create a secure password.
Step 2 – Activate Your Kucoin Account.
You’ll be asked to activate your account before you can log in on Kucoin.
Go to the email you entered and click on the link sent by Kucoin to complete the registration process.
You may need to check your spam folder.
We strongly recommend you set up 2 factor authorization (2FA) on your account.
Step 3 – Log On to Your New Kucoin Account
Go back to Kucoin and use your new account details to log in.
Step 4 – Fund your Kucoin Wallet.
Before you can buy your new tokens, you need to have funds in your Kucoin wallet.
Note that you can’t send fiat currency direct to Kucoin. Instead you need to send your favorite crypto (we recommend ETH or LTC due to low transaction costs and fast transfer times).
The easiest way is to buy crypto at Coinbase.com then send it to Kucoin.
How to Buy Bitcoin at Coinbase
You now need to find the deposit address for the specific type of crypto you are transferring over from Coinbase.
In this example we’re using ETH.
First, click the dollar ($) symbol to open the deposit page
Then click on the “Deposit” button and search for ETH.
Now, copy the ETH Deposit Address and use that as the destination/outward address at your Coinbase account.
Wait a few minutes and the crypto (ETH in this case) will be credited to your Kucoin account.
Step 5: Trade your Ether for BCD tokens.
Click on the ‘Markets’ link at the top menu, next to the Kucoin logo. And navigate to the ETH tab.
Search for the BCD/ETH pair among the list displayed on the page. You can type BCD in the search bar if you can’t find it.
This will take you into a trading screen like the one below. It’s straightforward to purchase from here.
Under the BCD/ETH chart, you’ll find the Buy BCD section.
The first box with the Price label displays how much ETH or fraction of ETH you pay to buy each BCD token.
The second box with the Amount label is where you enter the number of BCD Tokens you plan to buy.
You can also use the ratio slider to indicate what percentage of your funds you want to spend. sliding to 100% button uses all the ETH in your account. 50% uses 50% etc. If you use the percentage buttons, the number of tokens you can buy will be automatically entered into the Amount box.
The Total box shows how much Ether in total you are paying for the transaction. This includes any transaction fees by Kucoin.
Ready to buy?
Go ahead and Click on the “BUY BCD” button.