The ultimate beginner's guide to trading Nebulas
What is Nebulas Coin (NAS)?
Nebulas is the brainchild of some big personalities in cryptocurrency. Founder and CEO Hitters Zu also founded a little project called Antshares, once upon a time (now it’s NEO, with the 6th largest market cap of any crypto). Other founders have attachments to Apple, Alibaba, and Facebook. The dev team is reportedly 14 strong – more than enough to make a splash in crypto if the project is right.
So what is the project? Well, if Nebulas is trying to be the Google of blockchain, we have to understand what exactly Google is in order to understand NAS. Here’s what Google search does in very basic terms:
- Google finds relevant information related to user search queries. It does this by using algorithms which “read the internet”, looking for keywords and other markets that indicate that Content B is relevant to Search Term B. The way this works gets really complex, but most of us benefit from it everyday. Nebulas wants to be like this – performing a fundamental function for the blockchain industry, without itself being the primary focus.We’re all pretty familiar with Google. So how does Nebulas want to adapt its use case to blockchain?
- Blockchains like Ethereum are crowded with Dapps (decentralized applications). There are useful Dapps and many crappy ones, but the one unifying feature is that they are all difficult to find and use for the average person. Nebulas seeks to search through various blockchains just like Google searches websites, looking for Dapps which relate closely to the users’ needs. This will be performed via a main net search engine, which is set to drop in March.
Nebulas coin is the financial unit of the network, paying the microtransactions necessary to perform certain actions, as well as to incentivize certain behaviors, such as Dapp innovation and development.
If Nebulas accomplishes its goals, it will make the entire blockchain space a whole lot more usable, which will lead to wider adoption, which will truly make blockchain the technological revolution we believe it to be.
This will also make Nebulas coin much more valuable than its current $8 apiece.
Why Is Nebulas Token a No-Brainer for Investors?
There’s no guarantee that Nebulas coin is going to be a roaring success. But let’s look at some of the qualitative and quantitative factors which may prove it to be a great investment opportunity.
Several Chinese coins of note (NEO, Walton) have been smash hits, specifically because they have operated according to Chinese regulations, and have thus been allowed to shine in a field not nearly as crowded as that of the United States. Because Nebulas is already well-connected in this environment, many think it will follow the same course as the previously mentioned tokens.
- Nebulas has the technical framework to succeed. Any effective search engine for blockchain is going to require previously unknown technological systems. Fortunately, it seems that Nebulas’s team has the skills and plans to pull it off. The Nebulas technical white paper is 60 pages long, and is often incomprehensible to anyone who is not an engineer of some sort.
- The Nebulas price has been consolidating for all of 2018 so far, after a peak on January 9 (more than $15 per coin) three months after the Nebulas ICO. While the steadily diminishing Nebulas price might worry some newer investors, investors concerned with value will understand that the best is likely yet to come. Nebulas isn’t a project that’s easy to explain to the uninitiated, but it’s still great.
- Nebulas coin (NAS) will be the currency of an internal economy of the Nebulas network. Anyone familiar with platform-specific currencies (BNB, STEEM) knows that these tokens can be a gold mine, providing the network becomes a hit. No one knows if Nebulas will become the standard for blockchain search, but if it does become popular, today’s Nebulas price will soon be unimaginable.
Potential investors are encouraged to do their own research. Through the Nebulas whitepapers, and various Nebulas communities online (Reddit, BitcoinTalk), the intricacies of the Nebulas network will start to become clear. Don’t sleep on Nebulas just because it’s complex, though. This is a project with some serious upward potential. Here’s how to buy it.
How to Buy Your Own Nebulas Coins
Nebulas NAS was launched on the Ethereum blockchain, making it an ERC20 token. However, like many ERC20 tokens, Nebulas NAS isn’t available on many well known exchanges. This will likely change in the coming months, but for now, you’ll have to venture out into the great unknown (we’ll provide the instructions!)
But first, we need to create our Nebulas wallet, as you’ll need a safe place to store your Nebulas coins once you’ve bought them. Because it’s ERC20, you can store Nebulas NAS in your MyEtherWallet account address. Go to MyEtherWallet.com now and create a new account (make sure to write down your private keys so you can get back into your account should you ever be locked out)
Once inside your new MyEtherWallet account, you’ll notice two important things: 1) your account address (the address to which you will send your Nebulas NAS) is on the upper right side of the screen, and 2) NAS isn’t a visible option among the tokens supported by MEW. What gives? Don’t worry; NAS can be simply added to the MyEtherWallet system, and it’s not even that hard to do it.
First click “Add Custom Token”, the little grey button at the bottom right side of your screen. It’ll ask you for a little information, which is as follows:
- add custom token
- Symbol: NAS
- Contract address: 0x5d65D971895Edc438f465c17DB6992698a52318D
- Decimals: 18Simply copy and paste that information, click “Save”, and NAS will now be visible as one of the supported tokens in your MEW. Now you’re ready to by. Note: as you move forward, you’ll need your MEW public address (we talked about it in point 1 above). This is the address listed on your MEW homepage, NOT the contract address you used to add the Nebulas option on MEW. DO NOT send Nebulas to the contract address; they will be lost forever. Copy your account address address or be ready to reference it for the two buying guides to come.
How to Buy Nebulas Coin on Huobi Exchange
This writer had never used China-founded Huobi exchange before, but found signup to be easy and the interface to be responsive and intuitive. Let’s start out by walking you through the signup process with Huobi. Start out by going to Huobi.pro and clicking “Sign Up”.
Add the minimal information required by Huobi (this is seriously as bare bones as sign up requirements get) and quickly responding to the verification email they send you. You only have 60 seconds to open up the email, get the code, and put it into the text bar in Huobi. We managed to do it first try, but just be prepared. If you fail the first time, you get more chances.
And that’s it. Quick. Painless. Now let’s get you trading for Nebulas coin.
How to Trade Bitcoin For Nebulas on Huobi
Start by buying Bitcoin on a platform like Coinbase, CEX.io, Changelly, or Coinmama. Depending on how you do it, it may take minutes or days for your order to be filled, but once you have it, send it to your Huobi Bitcoin address.
You can find this by clicking on “Balances” and “Deposit & Withdraw” at the top of the screen. This will take you to a page with wallets for every coin Huobi supports. Click on “Deposit” beside your Bitcoin wallet, copy the address you see here, and use it to send your Bitcoin to Huobi on from the wallet where your Bitcoin is currently held. Usually, this requires clicking “Send” or “Withdraw”, pasting the address, and confirming the transaction. Always make sure to double-check that the address is correct.
In a few minutes, your Bitcoin should have arrived in your Huobi Bitcoin wallet. Now it’s time to get trading. Click on “Exchange”.
On the middle left side of the screen, you’ll see three buy options: USDT, BTC, and ETH (Tether, Bitcoin, Ethereum). Select “BTC” and it’ll turn blue. Below it, select “NAS”, and the NAS/BTC trading screen will appear. You’ll see the correct trading pair in the upper left-hand corner of the screen.
At the bottom of the screen, above the green button, you’ll see the buy Nebulas menu. The current NAS price is already filled in. Just select how much Nebulas coin you want to by, confirm the transaction, and your order should be filled in less than a minute.
How to Send Your Nebulas Coin to MyEtherWallet for Safekeeping
Right now, your Nebulas coins are stored in your Huobi Nebulas wallet. Find it by clicking “Balances” and “Deposit & Withdraw”. Beside the NAS wallet, click “Withdraw”. This will bring up a screen where you can paste your MyEtherWallet account address (always double check!). Once you confirm your transaction, your coins will appear in your MyEtherWallet in just a few minutes. That’s it! You’re now a Nebulas investor. We think you made a great choice.
Final Thoughts on Nebulas Coin
The Nebulas project is very promising. With a remarkably ambitious vision, a highly qualified and connected team, and a mainnet launching in just weeks, we expect the Nebulas price to rise significantly. As an investor, you never truly know what tomorrow holds, but when it comes to crypto investing, Nebulas is one of the best projects we know about for short and medium term gains. We just have to wait, hodl, and see!