The Neblio token allows users to interact with its cryptographic blockchain; find out how you can buy its native NEBL coin.
As Neblio is a cryptocurrency still in its infancy, obtaining Neblio tokens requires more groundwork in comparison to other more established coins. As a result, it is more difficult to purchase new tokens such as Neblio directly using traditional payment methods such as a debit or credit card. Nevertheless, if this is the token you want, our simple step-by-step guide will give you all the information you need.
Where to buy Neblio in Australia
A step-by-step guide to buying Neblio
While it is difficult to directly buy Neblio from fiat currencies such as AUD or USD, some exchanges facilitate a Neblio trade using either bitcoin (BTC) or Ethereum (ETH). In exchanges where there are no direct fiat currency pairing options available, you can still trade cryptocurrency to cryptocurrency.
Step 1. Create an account at an exchange which lists NEBL
Create an account at an exchange, such as Binance, which lists the NEBL coin. The vast majority of available liquidity can be found at Binance. Liquidity is important as without it, it’s highly unlikely that you will have your order filled.
- The initial step would be to visit the Binance website. To open an account, you will be required to supply your email address and choose a strong password.
- To complete the registration process, you will need to confirm the email address you provided. Once you have done this, a pop-up notification will ask you to set up two factor authentication, which is highly advisable as this will provide an additional layer of security.
Step 2. Deposit funds into your account
Much like several other exchanges that offer Neblio markets, Binance does not accept direct deposits using traditional fiat currencies such as AUD, USD or GBP. Instead, you will be required to use either BTC or ETH. There is also a Neblio pairing available against BNB – the cryptocurrency issued by the Binance team – although BNB is a less widely supported coin than BTC or ETH, so for the benefit of simplicity in this example, we will opt for either BTC or ETH. If at this stage you do not hold either of these coins, you can follow one of our guides below on how to purchase them.
Now that you have either BTC or ETH, click on "Funds" towards the top of the menu, followed by "Deposits and withdrawals". You will come across a long list of accepted cryptocurrencies, so it is best to search for the coin you are depositing with and then click “Deposit”. Next, you will be supplied with a unique wallet address to send your coins. Copy this wallet address to your clipboard. Now you will need to go to your BTC/ETH wallet and send the desired amount to this Binance wallet address. The funds should appear in your Binance account within a few minutes.
Step 3. Buying NEBL
Once your Binance wallet is funded, you are now ready to execute a NEBL trade. At the top of the page, hover over “Exchange” and click on “Basic”. On the very right hand side of the market platform, you will see a box displaying four different base currencies. These are BTC, ETH, BNB and USDT. Click on the currency that you have funded your Binance account with and search for “NEBL”. Click on the corresponding search result, which will either be NEBL/BTC or NEBL/ETH.
You are now presented with a trading box. Although you have the option to manually set your own price, there is no guarantee that your order will be filled, especially when one considers how volatile the cryptocurrency markets can be. Therefore, the easiest method is to select the “Market” option.
In the “Amount” box, enter the amount of NEBL that you would like to purchase. Alternatively, you are also presented with an option to purchase an amount relative to your account balance. For example, if you want to exchange 100% of your funded BTC/ETH, click on 100%. After checking the information you have entered is correct, click on the “Buy” button, which should execute the trade immediately. To ensure that your exchange was successful, go back to the "Deposits and withdrawals" section of your account and search for “NEBL”. You should now be able to see your newly purchased tokens.
Which wallets can I use to hold Neblio?
The Neblio token is not compatible with ERC20, which means that users are limited in choice. A custom-built wallet is available on the official Neblio website, which is available across Windows, macOS, Linux and GitHub. For mobile use, a Neblio wallet is also available on Android, and iOS is in development. Alternatively, popular multi-currency wallet which supports Neblio is Electrum.
How Neblio works
Founded in 2017, Neblio offers blockchain solutions to the world of business and commerce. While the bitcoin and Ethereum blockchains are often referred to as first and second generation legacy networks, the team behind Neblio claims that their innovative developers have created the “next generation” in blockchain technology.
The Neblio team places a lot of emphasis on finding simple solutions to businesses that want to implement blockchain technology into their data and information management systems. This is allegedly likely to include the securing of medical records, regulatory compliance and auditing capabilities. To allow the blockchain’s proof-of-stake consensus to function securely, NEBL tokens are used to verify and validate transactions.
As NEBL tokens were created to support the Neblio network, their current usage outside of the platform is limited. Those holding NEBL can of course exchange them for either BTC or ETH, or alternatively hope that its value increases over time.
What to consider when buying Neblio
If you are interested in buying Neblio, you should bear in mind the risks of trading cryptocurrency as well as the unpredictability of the market. Some key considerations also include:
- As a cryptocurrency newcomer with a relatively small development team, it is difficult to ascertain just how successful the Neblio project will be.
- While there is a large scale marketing campaign for Neblio planned for Q2 2018 that aims to generate mass market awareness, it remains to be seen whether Neblio has the required experience to drive the blockchain-to-business ideology into the next generation.
- It is important to remember that the value of NEBL will directly correlate to the success, or failure, of its ability to meet its 2019 objective or “industry-wide adoption”.