Where to Buy Elixir (ELIX)

Elixir (ELIX)

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How to Buy Elixir (ELIX)

Crowdfunding just became easier through Elix — a blockchain platform built on Ethereum that allows users to crowdfund projects, request/create loans, and make payments. Unlike other crowdfunding platforms, Elix uses the cryptocurrency Elixir to ensure a trustworthy and immutable process.

Since the Elix platform is built on a decentralized network, users don’t need to worry about having to trust a stranger with their personal financial information. Blockchain technology will take care of that.

 

So we’re looking at another GoFundMe?

Not entirely. While the crowdfunding feature is a large component of the Elix platform, users are also able to make payments and request loans via their personal payment ledgers. Elix also gives users the unique ability to mine for tokens over time as well as gain rewards for paying back their loans. Here’s how that works:

  • Lenders and borrowers decide whether or not to set up a mining period once a loan is paid back in full
  • Smart contracts authorize the mining feature, which allows the lender to freeze their Elixir in their wallet for a holding period
  • After the holding period, the lender and borrower both receive awards

Ready to mine for more? Let’s get you started with some Elixir.

Create A Coinbase Account

Open up an account with Coinbase to purchase Bitcoin or Ethereum. If you’re not having any luck there, try purchasing the coins through Coinmama — the steps are identical. If you’ve already got a wallet with BTC or ETH in it, you can move on to the next step.

Create A Kucoin.io Account

You will need your BTC or ETH to purchase other coins in a cryptocurrency marketplace. There are many where you can purchase Exilir from, but for now we’ll be using Kucoin. Open up a Kucoin account and move on to step 3.

Move BTC or ETH to Kucoin

You’re going to want to pay close attention here. We will be transferring our BTC or ETH from our Coinbase wallet to our Kucoin wallet. Looks tough, but we promise it’s simple. Here’s how to go about doing that:

  • Press “Wallets” on Kucoin.io
  • Locate your “BTC” or “ETH”
  • Tap on “Deposit”
  • Select and copy the address (what we call the address string)
  • Open up Coinbase again
  • Select the “Accounts” tab on Coinbase
  • Locate your BTC or ETH wallet & select “Send”
  • Move the Kucoin wallet address into the Coinbase recipient address bar
  • Fill out whatever amount your heart desires and tap send!

Easy, right? Here are some screenshots that help outline the process using ETH as an example:

Buy Elixir (ELIX) on Kucoin

Now that you have some BTC or ETH in your Kucoin wallet, we will be using them to finally purchase some Elixir. Find the “Markets” tab and search for the BTC/ELIX or ETH/ELIX market. Once here, you can decide on the price and amount of coins you desire, then finally click the ‘buy’ button!

Below is a screenshot that demonstrates the components of the page:

Decide & Stash

Now that your wallet is fattened up with some Elixir, it’s up to you to decide what to do with all those coins. Some choose to let the cryptos sit in their wallets while others head back to the crypto marketplace.

 

Am I missing anything else?

Nope! We hope we answered any questions you have with this tutorial. If you have any lingering, or we didn’t cover everything you needed, send them our way in the chat window to your right.

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