Icon IconICON

How to Buy Icon with Credit Card and Debit Card

Currently, Icon is currently only sold on Binance. Binance is an exchange limited to cryptocurrency, so in order to get Icon via credit and debit cards, you need to buy Bitcoin, send the Bitcoin to Binance, then convert it to Icon. See tutorial below.

How to Buy Icon with Bank Transfer

The cheapest exchange to obtain Icon on is Binance. This tutorial will show how to buy Bitcoin with a bank transfer, then send Bitcoins to Binance, where you can purchase Icon!

Method 1 - USD/EUR -> BTC -> Icon

Step 1: Buy Bitcoin

There are several exchanges through which you can buy Bitcoin.

Coinbase, Coinmama, or BitPanda are the easiest to use.

Coinbase is a very beginner friendly US based exchange, that sells cryptocurrency to most countries and all US states. To see if Coinbase supports your country, check this link!

Coinmama handles credit or debit card purchases. Coinmama is great because they have higher credit or debit card purchasing limits than Coinbase, as well as fast delivery of your funds. Bitpanda. Bitpanda is an exchange that processes credit or debit card purchases. Their fees are slightly lower, but ONLY sells Bitcoin to residents of European Union (EU) countries.

Fiat to Bitcoin Exchanges

Exchange Countries Fees
Coinbase USA,Canada,Australia,Europe 1.49% - Bank
Coinmama Mostly Everywhere 5.5% Credit/Debit
Bitpanda Europe ONLY 5%

How to Buy Bitcoin on Coinbase

Coinbase is the most beginner friendly while Coinmama is great for credit or debit transactions as it has higher purchase limits and quick delivery. BitPanda is great (but it only works in Europe) and has a 5% fee on credit or debit purchases.

We will use Coinbase in this example. Also, if you purchase over $100 of Bitcoin through the following link, you will receive an extra $10 BTC for FREE! Create an account on Coinbase if you don’t have one already and then add your payment method.

After creating your Coinbase account, you need to add a payment method. If you are going for the route with the lowest fees, it is best to use a bank transfer. If timing is more important, use a credit or debit card, as this is much faster!

The Coinbase signup process takes time, but this is to ensure security for customers. Click the Buy/Sell tab on the top/middle of your screen. From this page, you can easily purchase Bitcoin, Litecoin, or Ethereum. All of these cryptocurrencies can be converted into Icon on exchanges such as Binance, but for this tutorial we will use Bitcoin.

Coinbasehome Coinbasehome

After hitting Confirm Buy, you are finished with this step! Next will be transferring the Bitcoin to a Icon exchange. Also, at this point, we strongly suggest setting up two-factor authentication (2FA) on all exchanges. Two factor authentication combines two different verification methods to ensure the real user is trying to access the account.

Bitcoin to Icon Exchanges

Exchange Countries Fees
Binance Everywhere .05%

Step 2: Transfer your Bitcoin

Once you have Bitcoin, you will need to move it to an exchange that has BTC/ICX pairs.

Binance](https://www.binance.com/?ref=18991911){:target=”_blank”} is hugely popular due to its intuitive interface and solid customer support. Click the send button on Coinbase as seen in red highlight in the picture below. You will be asked for the recipient’s wallet address. Enter your Binance Bitcoin address, which you can find by going to the “Funds” tab on the Binance navigation bar, then clicking “Balances”. Once on this screen, you will see a list of coins. Scroll down to Bitcoin, and hit the “Deposit” button. Copy the address that appears and paste into Coinbase. Click send on Coinbase, and wait about 30 minutes for your BTC to arrive.

Depending on the traffic on the Bitcoin network, your transfer may take 20 minutes to an hour, sometimes longer. This can be stressful but do not worry!

Coinbasehome binance Binance Coinbasehome Coinbasehome

After hitting Confirm Buy, you are finished with this step! Next will be transferring the Bitcoin to an Icon exchange. Also, at this point, we strongly suggest setting up two-factor authentication (2FA) on all exchanges. Two factor authentication combines two different verification methods to ensure the real user is trying to access the account.

Step 3: Buy Icon

After your Bitcoin arrives, you will have a Bitcoin balance to purchase Icon. Go to the ICX/BTC page and you will see a box that says Buy Icon. In the box, enter a price with which you are comfortable. You can look at the order book to get a sense of the current rates. After your order is processed, you will see it in your Icon wallet balance in Binance! Icon

How to Buy Icon with PayPal

Due to Paypal’s chargeback feature, buying Icon with Paypal requires one extra step. The exchange VirWoX allows you to convert paypal balance into Bitcoin. Read our tutorial on this conversion. Once you have Bitcoin, you can send it to Binance, as seen in the example above.

Can I Buy Icon on Coinbase?

Icon is currently only sold on Binance.

Step 4: How to securely store Icon

Icon is an ERC20 coin that runs on the Ethereum Blockchain, which means that it can be stored on myEtherWallet.

To start using myEtherWallet, you will need to come up with a secure password. Your password should be at least 9 characters long. After entering a password, click “create new wallet”. You will be taken to this screen where it asks to download a keystore file.

A keystore file is an encrypted private key, that gives you access to your funds. Please make a backup of this file, by storing another copy of it on a USB or other storage device. If you lose this, it is very difficult to recover your coins.

IconChain Iconchain

After clicking “I understand” it will show you your unencrypted private key. If you prefer, you can print a paper wallet through the website. A paper wallet is a document that contains all the data necessary to access your cryptocurrency, usually containing QR Codes and your private keys.

Next, myEtherWallet will ask you how you would like to access your wallet. You will access the wallet using the newly-downloaded encrypted private key. Click “Keystore/JSON File”, and select the encrypted private key file you just downloaded. Press “unlock” and your public address will be displayed. This address is where you can send your ERC-20 Coins. ERC-20 Coins are any cryptocurrency that runs on the Ethereum blockchain. This includes coins such as 0x, Tron, and OmiseGo.

What is the Circulating Supply of Icon?

At the time of this writing, there is a circulating supply of approximately 238,000,000 Icon. This will eventually reach a cap of 433,494,437 Icon.