How to Buy ImageCoin with a Debit Card (2021)

How to Buy ImageCoin with a Debit Card (2021)

 The 1,804th ranked coin on CoinMarketCap, ImageCoin, is currently listed at $0.02484 with a market cap of $263,694 and a 24-hour trading volume of $140,627. The current circulating supply of the coin is at 10,913,153 IMG, with a maximum supply of 21,000,000. Launched in July of 2018, ImageCoin describes itself as a secure and decentralized open-source proof of work digital currency that focuses on performance, security, and low-cost transactions. IMG can convert any picture into a digital form to facilitate image searches and consequently stores the picture on a blockchain of technology. Image gives users the benefit of being both a cryptocurrency as well as a utility coin. 

By allowing users to transact directly in Image for day to day use, IMG provides utility as a digital asset as well as through the multiple partnered projects, like Image Cash. Holders of the cryptocurrency can stake their coins to help secure the network, providing a higher stake and reaping a larger block reward received. Through their proof-of-work consensus, Image Coin works on a highly scalable platform with a target rate of updating the transaction block every minute. With such heightened updating of the transaction block, IMG enables transactions to be approximately 10x faster than Bitcoin – this discussion, while short, provides a heightened overview of the altcoin and the variability that it maintains. 

When looking to purchase IMG with a debit card, there a few different methodologies that an individual can pursue – I will introduce you to the easiest and quickest. As a new buyer, your best bet is to register through the platform “CoinBase”. This platform, once registered, will allow you to add payment methods where you will then input your debit card information. Depending on the information you provide the platform and whether or not your account is verified, they will likely impose some minimal restrictions on the amount that can be purchased immediately – this is not a huge concern, as it will grow over time. Simply enter your debit card information, select the value that you would like to purchase in BTC or ETH, and confirm the order. 

Once you have the Bitcoin or Ethereum in your Coinbase wallet, you will now want to find a secondary website that offers IMG trading on it – fortunately for you, I have done that already. Head on over to “Binance” and register, like you did through the Coinbase platform. With your BTC or ETH in hand, simply withdraw those funds from the Coinbase wallet over to the Binance wallet. After you have given ample time for confirmations to go through on the cryptocurrency transaction, you will then see your BTC or ETH in the wallet on Binance – simply locate “IMG” and select to purchase the altcoin with whichever cryptocurrency you currently have in your wallet! 

You have now completed the necessary steps and processes to purchase IMG – when you wish to withdraw some money or convert it back to cash, simply do these listed steps in reverse!

Magic21

I am a computer engineer more interested on blockchain technology and bitcoin.

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