This is a short guide to safely buying Open Trading Network (also known as OTN coin) on the LiveCoin exchange. LiveCoin is a fast-growing exchange where you can buy Altcoins (meaning “alternative coins”).
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What is Open Trading Network
Open Trading Network is the first 100% collateralized decentralized exchange which will allow fully secure exchange between the blockchain networks. OTN foundation is committing itself to develop the network described in the white paper and also several applications to help different stakeholders to benefit from the network.
OTN Token Details
Name: Open Trading Network
Total Supply: 82,630,002
Circulating Supply: 3,592,379
Step 1 – Register at LiveCoin
To buy the token, you first need to sign up at LiveCoin.
First go to LiveCoin.net.
Go ahead and Register at LiveCoin by adding your personal details.
To sign up for LiveCoin you’ll need a valid email address and create a secure password.
Create a strong Password, click the check boxes for the LiveCoin terms and conditions and the anti-spam captcha.
Click “Register Account”.
Step 2 – Activate Your LiveCoin Account.
You’ll be asked to activate your account before you can log in on LiveCoin.
Go to the email you entered and click on the link sent by LiveCoin to complete the registration process.
Step 3 – Log On to Your New LiveCoin Account
Go back to LiveCoin.net and use your new account details to log in.
Step 4 – Fund your LiveCoin Wallet.
Before you can buy your new tokens, you need to have funds in your LiveCoin wallet.
Note that you can’t send fiat currency direct to LiveCoin. 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 LiveCoin.
How to Buy Bitcoin at Coinbase
Back at LiveCoin, click the “Deposit” link on top menu.
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.
Search for “ETH” in the Cryptocurrency Balance field and then click on the “DEPOSIT” button.
You’ll need to check the various acknowledgment boxes and then click the “Show address” button. You ETH deposit address will now appear. Copy and paste that 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 LiveCoin account.
Step 5: Trade your Ether for OTN tokens.
Click on the ‘BUY/SELL’ link at the top menu, near the LiveCoin logo.
Search for the OTN/ETH pair among the list displayed on the page. Do this by selecting the “ETH” tab and clicking on the coin pair you would like to buy.
Under the OTN/ETH chart, you’ll find the Buy OTN section.
The first box with the Amount label is where you enter the number of OTN tokens you plan to buy.
The first box with the Price label displays how much ETH or fraction of ETH you pay to buy each OTN token.
The Total box shows how much Ether in total you are paying for the transaction. This includes any transaction fees by LiveCoin.
Ready to buy?
Go ahead and Click on the “BUY” button.