Skycoin is one of the most ambitious and advanced
blockchain projects in the crypto space
right now, and it has a very bright future.
I’m going to walk you through the steps
to join this revolution, and acquire some Skycoin,
beginning with the most important
step: the wallet
The Skycoin team has created an intuitive,
fully-functional Skycoin wallet for mobile devices
and desktop computers.
Go to skycoin.net/download to get it.
(I’m referring here to the Skycoin software
wallet, but the Skycoin team has created
an elegant and affordable hardware wallet
that you may also want to check out.)
The steps to create a wallet address are simple;
just make sure you record your 12 or 24-word
seed in a secure place, preferably offline
where it cannot be remotely hacked or stolen.
That seed will allow you to regenerate your
wallet on another platform, say if you wanted
your Skycoin wallet on your desktop and your
In that case you’d create your new wallet
on your desktop machine, and then “load”
your wallet on another, entering your seed
phrase when asked.
It’s also a very good idea to encrypt your
wallet with a strong password you will remember,
though you may use your seed to reset your
password if you need to.
Now it’s time to get some Skycoin in that
Head over to skycoin.net again, and click
You’ll see three options.
Let’s look at each one.
Crypto: This allows you to convert cryptocurrency
you already own into Skycoin.
This is done through a third-party service
called CoinSwitch, which is essentially a
marketplace for exchanges.
They will find the best exchange rate for
your conversion pair, and perform the exchange
as a middle-man between you and the cryptocurrency exchange.
You will need to copy and paste the Skycoin
wallet address you created in the first step into the relevant field and
the system will generate an address that you
should send your crypto to in order to begin
the exchange process.
(The time it takes the Skycoin to appear in
your wallet depends on which cryptocurrency
you choose to exchange.)
Note that CoinSwitch charges a small fee, less
than .5 percent, for the convenience of transacting
without having to create an account on an
exchange that trades Skycoin.
This is a great option if you own cryptocurrency already
on an exchange like CoinBase that doesn’t
yet trade Skycoin on its platform.
Credit Card: This transaction is handled through
a third-party company called Indacoin if you
are outside the United States which is not
authorized to work within the U.S.
Again, a fee will be charged for the convenience
of buying Skycoin with a credit card; in the
case of Indacoin, it it 20% if done through
their website and 9% if you download their
app and transact there.
That seems like a hefty fee, but if you don’t
own Cryptocurrency already and don’t want
to deal with exchanges, then using a service
like Indacoin might be what you are looking for.
Note that many banks will not allow cryptocurrency
purchases with their credit cards, and may
block the transaction; likewise, there are
limits to the amount of crypto you can purchase
at a time.
Next we have Exchanges.
Skycoin is listed on several of the biggest
cryptocurrency exchanges like Binance, LBank,
You will need to open an account at one of
these exchanges, and then fund that account
before you can buy skycoin.
For instance, Binance currently offers Skycoin
purchase via Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB)
So once you have opened your account at Binance,
you will need to own purchase one of those
coins before you can use it to buy Skycoin.
These are what are known as trading pairs.
Once your account on the exchange is approved, and you purchased Ethereum, for example, then you can simply
select the SKY/ETH trading pair and place
If this is your first experience trading on
an exchange, I recommend you read up on what
a limit order is, vs. a stop limit and market
order, to ensure you get the most out of
One last thing I should add about exchanges;
although you may be able to purchase or trade
Skycoin on an exchange, it is always best
to then transfer that Skycoin to your own
software or hardware wallet, where it can
generate Coin Hours, the innovative parallel
currency that, among other things, helps keep
Skycoin transfers virtually free, and will
one day form an important part of the economy
of Skywire, Skycoin’s decentralized Internet.
There are two other ways to get Skycoin.
The first is to find someone who has Skycoin,
and pay them to send some of their Skycoin
You can go to BuySky.org to find sellers in
your area who are willing to accept cash for Skycoin.
Be aware that the price you pay for Skycoin
through BuySky.org will always be some percentage
above the market value of the coin, which
may be worth it to you if you wish to avoid
using an exchange altogether.
Finally, one of the most exciting ways to
get Skycoin is to purchase a Skyminer or build
one yourself and then get paid Skycoin in
exchange for providing services to Skywire.
Running Skywire nodes helps build a faster,
more secure, and more private Internet, bypassing
Internet Service Providers (ISPs) to create a truly
Visit skycoin.net to find out more.
Good luck, and welcome to the best community
in crypto: Skycoin!