How And Where To Buy Covesting (COV) - Step By Step Guide

How to buy Covesting (COV)?

COV can be bought on several crypto exchanges. However, just like most of the other cryptos, you will have to trade your FIAT ($) to a cryptocurrency before moving on to the crypto exchange of your choice. We will be guiding you through the whole journey on how to buy and store COV.

Step 1: Register on Coinbase

Coinbase is one of the largest and most secure FIAT-to-crypto exchanges in the world. And this is where most people in fact start their crypto journey. Coinbase is as of writing this article offering 240 different cryptocurrencies but we are going to focus on buying Tether (USDT) today. Click the button below and sign up to get a bonus of $10 in BTC when you buy $100 worth of any cryptocurrency.

Click Here To Show Coinbase Guide Getting started

The first thing you need to do when Coinbase has loaded is to click the “Get started” button in the top right corner. After that, you will have to fill out your first name, last name, email, and password. Then click the “I certify that I am 18 years of age or older” box and the “Create account” button.

It is really important that you fill out your real information as Coinbase will need it to verify your identity. A strong password is really important to keep your account and funds safe from hackers.

Verify your email

You should have by now received a confirmation email in your inbox. However, if you can’t find it in the inbox make sure to check the spam folder before taking any further action. After that open the email and click on the link inside of it to confirm your account.

Two-step verification

Now it’s time to enable 2-factor authentication (2FA) for your account. The 2FA will add one more layer of safety to your account and is an industry-standard these days. So fill out your phone number and then hit the “Send code” button. Then fill in the code you received and continue to the next step.

Verify your identity

Only one more step before we can start trading on Coinbase! This step might be a bit scary to some but there is nothing to worry about. Coinbase is a regulated company and is trusted by 56 million verified customers. This whole Know-Your-Customer (KYC) process should not take longer than 15 minutes. Check out Coinbase’s about us page if you still would like to learn a bit more about them.

Step 2: Buy USDT with Credit/Debit Card or Bank Account Add a payment method

After Coinbase has verified your identity you will have to add a payment method to your account. They usually only offer 2 different payment methods. The payment methods available are usually Credit/Debit card & Bank Account.

Pros of using a Credit/Debit card:

Faster purchases Recommended for smaller purchases Easy to use

Cons of using a Credit/Debit card:

Pros of using a Bank Account:

Recommended for large purchases Needed if you want to sell Lower fees

Cons of using a Bank Account:

Purchases takes longer to process

In conclusion, use a credit/debit card for smaller purchases and a bank account for larger purchases.

Buy USDT

Click on the “Trade” tab in the column to the left then find USDT and click “Buy”. After that, an order preview should pop up on the screen. Fill out the amount of FIAT ($) you want to buy USDT for (If you buy for $100 you will get $10 in BTC as a bonus!). Click “Buy now”.

Congratulations! You have just bought your first piece of Tether (USDT)!

Step 3: Move USDT from Coinbase to an Altcoin Exchange

Uniswap empowers developers, liquidity providers, and traders to participate in a financial marketplace that is open and accessible to all.

The process of buying a token on Uniswap is a little bit different than on a traditional centralized exchange (CEX). Uniswap is a decentralized exchange (DEX) and you are not required to register or verify your identity to be able to trade there.

DEX’s does however require you to have an altcoin wallet to be able to trade. This means you are 100% responsible for that wallet and the private key attached to it. If you somehow manage to lose said private key or send tokens to the wrong address they are basically lost forever. So be really careful and make sure to follow our step-by-step guide on how to buy COV.

Trade USDT to ETH on Binance or MEXC

Uniswap runs on the Ethereum (ETH) network and the main trading pair for tokens is ETH. All the tokens in the ETH network are called ERC-20 tokens. COV is also an ERC-20 token and the first step of the process is to transfer your USDT to either Binance or MEXC and then trade it for ETH. So let’s start with that!

Binance

Activate 2FA and verify identity

Once you have created a new account on Binance by following similar steps as we did on Coinbase you will be prompted to activate 2-factor authentication (2FA).

It has become an industry standard so I would highly suggest activating 2FA on any site that you want extra protection on.

You might also be required to verify your identity to be able to trade. This entirely depends on the exchange policies and your local regulations. The verification is very straightforward and should not take more than 30 minutes to possibly a few days depending on Binance. Once the verification is done you will have higher limits and access to everything you need.

Step 4: Deposit USDT to Binance Find USDT in your wallet

It’s time to head over to the wallet and deposit your newly bought USDT. Click on “Fiat and Spot” under the “Wallet” tab.

Find or search for USDT and click “Deposit”. This will bring you to the deposit page.

If this is your first time making a cryptocurrency transfer this page might feel a little scary. But there is absolutely nothing to worry about if you read and do everything carefully (just as with your bank account).

First of all, make sure that the “Coin” field is the same as the coin you will be depositing. In this case, we will be depositing USDT. The network should be “BTC” if you are depositing Bitcoin. “ETH” if you are depositing Ethereum and “BSC (BEP20)” if you are depositing USDT.

Next up is the actual address to your wallet, which basically looks like an alphabet and number soup. This is the unique public address where your USDT will be stored on Binance. Click on the two overlapping papers to copy the address.

Note: If you feel unsure about what you are doing, make sure to check out Binance FAQ section for answers.

Deposit USDT from Coinbase

Head over back to Coinbase and click on the “Send/Recieve” button in the top right corner.

Paste your address under the “To” field. Also, make sure to double-check that the address on Binance and the address you just paste are the same. Because there is some malware out there that can alter the pasted address. What that means is that if the address does not match you are basically sending your precious USDT to someone else’s wallet. This is something we really do not want to happen!

Once you have double-checked the address you can enter how much USDT you want to send and a message (if you want to). Then go ahead and click on the “Continue” button.

You should receive a confirmation email within a minute. Click the link inside of that email to confirm the transfer you just submitted. Your USDT is now on their way to Binance.

The transfer often only takes a few minutes, but can sometimes take a few hours at worst. It all depends on how congested the USDT blockchain is. You will get a confirmation email from Binance once the USDT has been deposited into your account.

It’s now the best time to buy ETH. So let’s jump right into step 5!

Step 5: Trade USDT for ETH Find the ETH/USDT pair

Alright, let’s buy some ETH. Start by clicking on the “Market” button at the top, after that type ETH in the search field.

Click on “BTC Markets” if you bought BTC, “ALTS Market” if you bought ETH, and “FIAT Markets” if you bought USDT. After that, you should see the ETH/USDT pair. Click on the “Trade” button.

Buy ETH

This screen contains a lot of information and might be a little scary to some. But we will walk you through what you need to know.

The order book. This contains all the “Limit” orders that users of Binance has placed. Market Trades. This displays the latest trades made. The “Market” buy button. This button tells Binance that you want to place a order for the amount of USDT filled out in the “Total” field. A market buy will try to fill your order at any cost, so be careful if you are trying to trade a lot.

Once you have filled out the total amount of USDT you want to trade for ETH, click that “Buy” button.

If the order went through you are now a owner of ETH. Congratulations!

MEXC

Activate 2FA and verify identity

Once you have created a new account on MEXC by following similar steps as we did on Coinbase you will be prompted to activate 2-factor authentication (2FA).

It has become an industry standard so I would highly suggest activating 2FA on any site that you want extra protection on.

You might also be required to verify your identity to be able to trade. This entirely depends on the exchange policies and your local regulations. The verification is very straightforward and should not take more than 30 minutes to possibly a few days depending on MEXC. Once the verification is done you will have higher limits and access to everything you need.

Step 4: Deposit USDT to MEXC Find USDT in your wallet

It’s time to head over to the wallet and deposit your newly bought USDT. Click on “Account” under the “Assets” tab.

Find or search for USDT and click “Deposit”. This will bring you to the deposit page.

If this is your first time making a cryptocurrency transfer this page might feel a little scary. But there is absolutely nothing to worry about if you read and do everything carefully (just as with your bank account).

First of all, make sure that the “Coin” field is the same as the coin you will be depositing. In this case, we will be depositing USDT. The network should be “BTC” if you are depositing Bitcoin. “ETH” if you are depositing Ethereum and “BSC (BEP20)” if you are depositing USDT.

Next up is the actual address to your wallet, which basically looks like an alphabet and number soup. This is the unique public address where your USDT will be stored on MEXC. Click on the “Click to generate the address” button and then the two overlapping papers to copy the address.

Note: If you feel unsure about what you are doing, make sure to check out MEXC FAQ section for answers.

Deposit USDT From Coinbase

Head over back to Coinbase and click on the “Send/Recieve” button in the top right corner.

Paste your address under the “To” field. Also, make sure to double-check that the address on MEXC and the address you just paste are the same. Because there is some malware out there that can alter the pasted address. What that means is that if the address does not match you are basically sending your precious USDT to someone else’s wallet. This is something we really do not want to happen!

Once you have double-checked the address you can enter how much USDT you want to send and a message (if you want to). Then go ahead and click on the “Continue” button.

You should receive a confirmation email within a minute. Click the link inside of that email to confirm the transfer you just submitted. Your USDT is now on its way to MEXC.

The transfer often only takes a few minutes, but can sometimes take a few hours at worst. It all depends on how congested the USDT blockchain is. You will get a confirmation email from MEXC once the USDT has been deposited into your account.

It’s now the best time to buy ETH. So let’s jump right into step 5!

Step 5: Trade The USDT For ETH Find the ETH/USDT pair

Alright, let’s buy some ETH. Start by clicking on the “Market” button at the top, after that type ETH in the search field.

Click on “BTC” if you bought BTC, “ETH” if you bought ETH, and “USDT” if you bought USDT. After that, you should see the ETH/USDT pair. Click on the “Trade” button.

Buy ETH

This screen contains a lot of information and might be a little scary to some. But we will walk you through what you need to know.

The order book. This contains all the “Limit” orders that users of MEXC has placed. Market Trades. This displays the latest trades made. The “Market” buy button. This button tells MEXC that you want to place a order for the amount of USDT filled out in the “Total” field. A market buy will try to fill your order at any cost, so be careful if you are trying to trade a lot.

Once you have filled out the total amount of USDT you want to trade for ETH, click that “Buy” button.

If the order went through you are now a owner of ETH. Congratulations!

Step 6: Create an altcoin wallet

Note: This is one of the most important steps of the whole process so make sure to follow it carefully. Do under no circumstances store your seed phrase/private key online or on your computer. We recommend writing down your seed phrase/private key on 2 pieces of paper and store them in 2 separate safe places.

The first thing we need to do is add the MetaMask extension/plugin to either Google Chrome, Firefox, or Brave browser.

The most secure and easiest way to add the MetaMask extension/plugin is to visit https://metamask.io/ and follow the instructions there.

You should now see this popup on your screen. Click on the “Get Started” button.

The next thing you need to do is click “Create a Wallet” and then read through the next screen and click “I Agree”

Now it’s time to choose a password that will be used to access your wallet. This is not your seed phrase/private key. However, it still should be decently strong.

Click “I have read and agree to the Terms of Use” and then click the “Create” button.

Securing the recovery phrase

Watch the video and read the text to learn what and how the seed phrase/private key works. After that click on the “Next” button.

Note: This is the most important part of the entire guide, so please pay extra attention while doing this step.

Read the entire page and when you are ready click on “Click here to view secret words”. Then write the secret words down on AT LEAST one piece of paper and store it in a safe place. When you are done, click “Next”

Now you should see your secret backup words in random order. Click on each word in the order as they are written down on your paper. Then click confirm.

Read this last page and then click “All clear”. You have now created and secured your first MetaMask wallet, congratulations!

If you want to be extra secure and are planning to buy a big amount of crypto you should consider a Ledger Cryptosteel storage for your seed phrase.

You should now see the MetaMask icon in the extension bar, click on it to open the interface.

Alright, let’s add the Binance Smart Chain (BSC) and the Matic Mainnet (Polygon). Click on the “Ethereum Mainnet” at the top.

Then go ahead and click on “Custom RPC”. This should bring you to a screen where you can add a new network to your wallet.

Fill out the following information to add the BSC network to your MetaMask wallet.

Network Name: BSC Mainnet New RPC URL: https://bsc-dataseed.binance.org/ Chain ID: 56 Symbol: ETH Block Explorer URL: https://bscscan.com/

Then click Save. Now do the same procedure to add the Matic Mainnet

Network Name: Matic Mainnet New RPC URL: https://rpc-mainnet.maticvigil.com/ Chain ID: 137 Symbol: MATIC Block Explorer URL: https://polygonscan.com/

Congratulations! You have now added the BSC and the Matic Mainnet to your MetaMask Wallet.

Note: If you are missing coins from your wallet, make sure to check that you are on the correct network at the top of the MetaMask plugin.

Binance

Head over to your “Fiat and Spot” wallet on Binance. Then either search for ETH or find it in the list, after that click on “Withdraw”.

Open your MetaMask wallet and click on the account name to copy your wallet address.

Paste the address in the address field and then select the ETH (ERC20) network. After that click on “MAX” and then click “Withdraw”. Follow the instructions and then you should have your ETH in the MetaMask wallet in less than a few minutes.

MEXC

Head over to your “Assets” page on MEXC. Then either search for ETH or find it in the list, after that click on “Withdrawal”.

Read and tick each box of these agreements that now are on your screen, then click “Ok”

Open your MetaMask wallet and click on the account name to copy your wallet address.

Click on the “ERC20(ETH)” button to select the correct network, then paste the address in the address field. Click on “Select all” and then click “Submit”. Follow the instructions and then you should have your ETH in the MetaMask wallet in less than a few minutes.

Step 9: Connect to Uniswap and trade ETH for COV

Head over to Uniswap by either clicking the picture above or the button below. Then click on the “Connect Wallet” button at the top.

Something similar to this should now have appeared on your screen. Click on “Metamask”.

Select the account you want to connect to Uniswap and then click “Next”.

Click on “Connect” to connect your wallet to Uniswap. Your account should now be connected.

From here we want to click on “Select a token” and then type in COV or paste this address 0xada86b1b313d1d5267e3fc0bb303f0a2b66d0ea7. If the token you want to buy is found, then click on it.

Note: If you cannot find the token, It most likely means that Uniswap has delisted it.

Then fill out how many ETH you want to trade for COV. It should display how many COV you will receive, otherwise let it load for a couple of seconds. Click on “Swap” once it has loaded. Then you will have to click “Confirm Swap”.

By now a MetaMask popup should have appeared, confirm that as well and then wait for the “Transaction Submitted” popup to appear.

Congratulations, you have successfully bought COV! You should be able to see your newly bought COV on your MetaMask wallet within a few minutes.

Last step: Store COV securely in a Hardware Wallet

Ledger was launched in 2014 by 8 people that have expertise in security, cryptocurrencies, and entrepreneurship. And now in the current year of 2021, they are the leading provider of “hardware wallets” in the world.

If you are planning to hold your COV for a long time it is recommended to buy a “hardware wallet” to store the coins in. After all, a cold wallet is the most secure way to store COV.

Pros of a hardware wallet (cold wallet):

Much more secure Only connected to the internet when you choose to

Cons of a hardware wallet (cold wallet):

Pros of an online wallet (hot wallet):

Easy to set up and use Convenient to access funds Free

Cons of an online wallet (hot wallet):

Vulnerable to hackers Always connected to the internet

The cold wallets Ledger is selling currently goes for $50 to $150 depending on which one you are looking to buy. The general consensus is that if you own over $100 of crypto you should get a cold wallet as well.

Note: One thing to keep in mind when handling cryptocurrencies is that you basically become your own bank. So make wise decisions and keep your portfolio safe!

Virtual Private Network’s NordVPN

NordVPN is one of the leading VPN providers. They offer a secure and 100% anonymous VPN service. The amount of servers they have is astounding, as of writing this guide they have servers in at least 59 countries.

It is very important to stay anonymous while trading COV, as you never know who is watching what you are doing. NordVPN can also be used for numerous other use cases such as streaming shows from a country you’re currently not in.

They are often running an offer on their website so make sure to take advantage of that whenever they do!

CryptoTrader.Tax

CryptoTrader.Tax is a tax software built to save you time and maximize your refund. It is super easy to use and will save you hours of work, especially if you are a “day trader”. They support a TON of exchanges and will help you from landing on the government’s naughty list.

You can sign up and test CryptoTrader.Tax for free, however, you will need to pay to get the results. So check it out if you want to streamline your crypto taxes!

Crypto Ultimatum

Crypto Ultimatum is a training program that will teach you everything you need to know to start trading cryptocurrencies. This program will also teach you how to make sweet profits on your trades.

The creators of this training have been in the market for at least 5 years, so they have a ton of experience!

How the author made $256k from just $100 by trading Bitcoin and other altcoins 4 common crypto currency scams to look out for How to store Bitcoin and other crypto currencies safely How to buy and sell crypto currencies Lifetime free updates Many bonuses Frequently Asked Questions about COV Is it possible to buy COV with cash?

It is not possible to buy COV directly with cash. However, BTC can be bought with cash and then traded to COV by using the altcoin exchanges we listed in step 3. Let’s find out how!

Buy and sell Bitcoin from local sellers on LocalBitcoins.com.com

LocalBitcoins is a trading platform where people from your local area will buy from you and sell to you. The amount of bitcoins/cash you will get from LocalBitcoins is a bit lower than from regular exchanges. However, it is the price you have to pay if you want to use cash.

Find a seller/buyer and do your due diligence to find out if they are trustworthy. Once you feel comfortable go ahead and contact them. Congratulations, you just bought/sold your first Bitcoin by using cash!

Are there any quick ways to buy COV in Europe?

Yes, Europe is one of the easiest places to buy crypto in. In fact, some of the countries in Europe even have 0% tax on cryptocurrencies and some even offer their citizens to pay their taxes with crypto. The easiest way to buy crypto in Europe is to use Coinbase as we explained at the start of this guide.

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