Where to Buy BlockMason Credit Protocol (BCPT)

BlockMason Credit Protocol (BCPT)

* Last updated via

Skip to Buying Guide
ExchangeRatingLink
98 Go!
97 Go!
86 Go!

How to Buy BlockMason Credit Protocol (BCPT)

If you’re looking into BlockMason Credit Protocol? Good pick. The team behind BMCP believe they’ve taken the the “next logical step” in the emerging decentralized economy; democratizing the creation of credit.

The Credit Protocol works by recording debts and credit between users on the Ethereum blockchain. One user can send a debt or credit request to another, which will then be confirmed by that other user. The interaction is then recorded and stored within the Credit Protocol’s smart contract.

 

How will debt repayment be reinforced?

Your friend will need to pay you back for that beer at some point, and the Credit Protocol seeks to reinforce that by recording debts through double confirmation. This eliminates the need for:

  • Banks
  • Lawyers
  • Other third parties

The cofounder of Ethereum serves on the board of advisors, making the project promising in its efforts to revolutionize the decentralized economy. Here is how to buy BCPT.

Open Up A Coinbase Account

I know you’re eager to get your hands on some BCPT, but you will first need to purchase some Bitcoin or Ethereum from Coinbase. Try purchasing the coins through Coinmama if you are unable to access Coinbase — the tutorial will be the same for both wallets. Already have some BTC or ETH in an account? Well done, you get to skip ahead to step 2.

Open Up A Binance Account

All other coins are purchased through what is called a cryptocurrency marketplace. Here, buyers like you use BTC or ETH as the primary currency. Today, we’ll be going through Binance, but you should know there are a few marketplaces where BCPT is available for purchase. Create an account with Binance, then move on to step 3.

Send BTC or ETH to Binance

This part can throw people off. Fear not, we promise it’s not as scary as it looks. All we’re doing is moving our BTC or ETH from our Coinbase wallet to our Binance wallet. Here’s the outline:

  • Select “Wallets” on Binance
  • Locate for “BTC” or “ETH”
  • Tap “Deposit”
  • Click and copy the address string
  • Return to Coinbase again
  • Click on the “Accounts” label on Coinbase
  • Search for your BTC or ETH wallet & select “Send”
  • Paste the Binance wallet address into the Coinbase recipient address bar
  • Determine how much you want and tap send!

You made it, great job! If you’re still confused on how to do it, below are some screenshots describing the process using ETH for reference:

Purchase BlockMason Credit Protocol (BCPT) on Binance

Now it’s time to finally buy BCPT. Locate the “Markets” tab and search for the BTC/BCPT or ETH/BCPT market. Once you’ve found the correct market, establish your price per coin, the how many of em’ you want, and then finally buy!

Is that it?

Yep, that’s it! If you’re still stuck on this step, below is a screenshot outlining the components of the page. Sometimes a visual demonstration works best.

Calculate & Store Away

Nice job, you successfully bought some BCPT! It’s up to you to decide the next steps. Since you’ve started to get the hang of this, you can head back to the marketplace to look for other coins. However, don’t feel pressured to go back and buy — you can always keep them stored safely in your wallet.

 

Anything else I need to do?

Nope, you’re finished! We hope we answered all your questions for you. If not, please don’t hesitate to send them our way in the chat window to your right — we’re more than happy to help!

Find More Coins