How to Buy Knoxstercoins ($FKX) — A Step by Step Guide

how-to-buy-FKX

What is FKX?

FortKnoxster is a cyber-security company offering a complete Crypto Suite™ of private and secure messaging, calling, crypto wallet and cloud storage worldwide for everyone, including businesses. FortKnoxster uses strong end-to-end encryption with advanced blockchain technology and zero-knowledge principles to protect its user’s online privacy.

Currently, FKX is ranked 1000 on Coinmarketcap and has been listed on a number of crypto exchanges.  Unlike other main cryptocurrencies, it cannot be purchased directly with fiat money. However, you can still easily buy this coin by first buying Bitcoin, Ethereum and Tether (USDT), and soon also using Binance Coins (BNB) from any large exchanges and then transferring them to the exchange that offers to trade FKX. In this guide, we will walk you through in detail the steps to buy Knoxstercoins FKX.

Step 1: Register on Coinbase

Coinbase-homepage

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC) or Ethereum (ETH). We will use Coinbase here as it is one of the largest crypto exchanges that accept fiat deposits.

Type your email and click ‘Get started’. Make sure you provide your real name as Coinbase will need it for account verification. Choose a strong password so that your account isn’t vulnerable to hackers.

You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account. Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institution, Coinbase is regulated in most countries such as the US, the UK and the EU.  Identity verification is a common process across exchanges or cryptocurrency providers, the good news is that the Know-Your-Customers (KYC) process is now fully automated and it shouldn’t take more than 15 minutes to finish.

Step 2: Buy coins with fiat money

Add-funds-to-coinbase

Once you finish the KYC process, you will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. A bank transfer will be cheaper but slower, depending on the country of your residence.

Adding-card-to-coinbase

Now that you are all set, select the currency you want to buy, in this case BTC and enter the amount, and click the ‘Buy Bitcoin’ button at the bottom., …and congrats! You’ve just made your first crypto purchase.

Step 3: Transfer your cryptos to an Altcoin Exchange

KuCoin-homepage

But we are not done yet. Since $FKX is an altcoin we need to transfer our coins to an exchange where $FKX can be traded. Here we will use KuCoin as our exchange. KuCoin is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.

Sign Up on KuCoin

After going through a similar process as we’ve done before with Coinbase, you will be advised to set up 2FA authentication as well, as it adds extra security to your account. 

Step 4: Deposit BTC to exchange

Deposit-on-KuCoin

Depending on the policies of the exchange, you might be required to go through another KYC process. This should usually take you from 30 minutes to possibly a few days maximum, though the process should be straight-forward and easy to follow. Once you have completed all the steps, you have full access to your exchange wallet.

If this is your first time making a crypto deposit, the screen here may look a bit scary. But don’t worry, it’s basically simpler than making a bank transfer. At the bottom of the box, you will see a string of random numbers saying ‘Bitcoin address’, this is a unique public address of your Bitcoin wallet at KuCoin. Since we are now transferring our previously bought bitcoin on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard.

Now head back to Coinbase, and on the top right of your screen click on the “Send/Receive” button.

send-receive-Coinbase

Under the “To” field, paste the wallet address in your clipboard, for security consideration you should always check if both addresses are matching. It is known that there is certain computer malware that could alter the content in your clipboard into another wallet address and you will essentially be sending funds to another person.

sending-BTC-Coinbase

Click ‘Continue’ to proceed, you should receive a confirmation email instantly. Click on the confirmation link in the email and your coins are on the way to KuCoin!

Now go back to KuCoin and head to your “Assets” page (click on your top right), don’t worry if you haven’t seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Bitcoin network, during busy times it may take even longer.

You should receive a confirmation notification from KuCoin once your deposit has arrived. Once your funds have arrived these will be visible in your “Main Account” on your assets page, now you will need to fund your “Trading Account”, to do so, click on your “Main Account” on your assets page and search for Bitcoin, then click on the “Transfer” option. 

Transfer-BTC-accounts-KuCoin

Select “Trading Account” as the destination account, choose your desired amount and then click “Confirm” to transfer the funds.

Transfer-BTC-Trading-Acc-KuCoin

Step 5: Trade FKX

In the menu bar head over to “Trade” and select “Spot Trading”.

spot-trading-KuCoin

In the top bar menu, you will see the BTCUSDT pair by default.  To access FKX, simply click the arrow and a dropdown menu will appear. Click on it and type in “FKX”, you should see FKX/BTC, select that pair and you should see a price chart of FKX/BTC in the middle of the page.

Search-FKX-pair-KuCoin

Enable your trading password. You will be asked to create a 6 digit “Trading password” which you will need to use to start trading.

Enable-trading-password

Insert a 6 digit code as “Trading password”

Insert-6-digit-code

To enable trading make sure you input your 6 digits “Trading Password”.

6-digit-password

Below there is a box with a green button that says “Buy FKX”. Inside of the box, choose the “Market” tab here as that is the most straightforward type of buying order. You can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click “Buy FKX”. 

buying-FKX-market

That’s it! You have finally bought FKX!