Are you ready to learn how to buy Miami Coin? In this guide, we’ll walk you through the steps!
Bitcoin has ushered in a new era of cryptocurrency, and it doesn’t look like it’s slowing down anytime soon. Miami Coin (MC) is one of the fastest-growing cryptocurrencies today. Investing may be a good idea, with over 4,000 merchants accepting MC worldwide and a bright future ahead.
What is Miami Coin?
Miami Coin is a new cryptocurrency developed by CityCoins, a blockchain-based platform enabling cities to create digital currencies. Miami Coin was specifically created for the city of Miami, and it’s designed to incentivize investments in local infrastructure projects. MiamiCoin, the first CityCoin to hit the market, officially launched on June 8th, 2021. The cryptocurrency is built on the Stacks Protocol, allowing smart contracts on the Bitcoin network.
MiamiCoin, represented by the symbol $MIA, offers individuals an opportunity to support the city of Miami while earning BTC and STX yield for themselves. It can be obtained through mining or purchased directly from crypto exchanges. This unique coin gives the city a steady stream of crypto revenue while generating STX and BTC yield for its holders. Additionally, $MIA holders can “Stack” and earn yield through the Stacks Protocol.
As the MiamiCoin treasury grows, the city can utilize these funds to benefit its constituents, including public spaces, infrastructure improvements, city events, and startup recruitment.
Since its launch on June 8th, 2021, MiamiCoin has a total supply of 5,566,350,000 and a current market capitalization of USD 8,229,817.06. The coin is currently ranked 3299 on Coinmarketcap and has experienced a recent surge of 119.31 percent at the time of writing, with a current price of $0.00148.
While MiamiCoin cannot be directly purchased with fiat currency, it is available on various cryptocurrency exchanges. To purchase $MIA, individuals can buy Bitcoin from fiat-to-crypto exchanges and transfer it to an exchange offering $MIA trading. A detailed guide on buying MiamiCoin is available to assist those interested in investing in this unique cryptocurrency.
Step By Step Guide To Buy Miami Coin
Choose a Cryptocurrency Exchange:
To buy Miami Coin, first, you must choose a cryptocurrency exchange that offers the currency and trade BTC for it. Users can purchase BTC in fiat-to-crypto exchanges such as Coinbase and transfer their funds to exchanges like Cryptopia, CoinExchange, YoBit, or Trade Satoshi.
The first step in buying Miami Coin is to choose a cryptocurrency exchange that supports the token. At the time of writing, the two main exchanges that support Miami Coin are BitMax and ProBit. These reputable exchanges have a large user base, making buying and selling Miami Coin easy.
Register on Fiat-to-Crypto Exchange:
Once you’ve chosen an exchange offering $MIA trading, you must register for an account. Make sure to provide accurate information and complete the identity verification process. To purchase MiamiCoin, you must acquire one of the major cryptocurrencies, such as Bitcoin (BTC).
This guide will provide a detailed walkthrough using two popular fiat-to-crypto exchanges: Uphold.com and Coinbase. Each exchange has its fee structure and unique features, which we’ll explore in depth. We suggest trying out both exchanges to determine the best fit for your needs.
Buy BTC with fiat money:
Once your account is verified, you must purchase BTC. To do this, you’ll need to fund your Uphold or Coinbase account with fiat money. These exchanges don’t support payment methods like credit cards or bank transfers. Users are limited to funding options like debit cards, wire transfers, and money transfers (like Western Union).
To learn more about funding options for Uphold and Coinbase, check out this step-by-step guide. After completing the KYC process, you’ll be prompted to add a payment method. You can link a credit/debit card or use a bank transfer.
Credit card purchases may incur higher fees due to credit card company policies and market volatility, but they offer immediate transaction completion. On the other hand, bank transfers are less expensive but slower. Depending on your country of residence, some regions offer instant cash deposits with low fees.
Once you’ve set up your payment method, navigate to the ‘Transact’ screen and select your fiat currency under the ‘From’ field. Then, choose Bitcoin under the ‘To’ field. Preview your transaction and review the details carefully before clicking confirm. Congratulations! You have now completed your first crypto purchase.
Transfer BTC to an Altcoin Exchange:
Now that you have some BTC in your account, it’s time to transfer it to an exchange that supports $MIA trading. While Uphold offers its native exchange, Coinbase does not. In this step, we’ll show you how to move your BTC from Coinbase to Cryptopia.
You’ll see a list of pending deposits on the ‘Transactions’ tab in your Coinbase account. Next, click on the pending transactions that correspond to your order book. Under the ‘Address’ field, enter your Public Key in the ‘Address’ tab. Your Public key is displayed under the ‘Address’ field. Then click submit at the bottom of the page to transfer your BTC from Coinbase to Cryptopia.
Buy Miami Coin:
Next, navigate to your Uphold account and search for BTC/USD in your supported fiat currency(s). Select the amount and quantity of BTC you’d like to buy and confirm the purchase. Uphold will then send your purchased crypto to your wallet address.
With your account funded, you’re now ready to buy Miami Coin. To do this, navigate to the Miami Coin trading pair on your chosen exchange and place a buy order. You’ll see the current price of Miami Coin and any fees associated with the transaction.
Transfer Miami Coin to a Wallet: Once you’ve purchased Miami Coin, it’s important to transfer it to a wallet that you control. This will help secure your investment and protect you against potential security breaches on the exchange.
You can choose from various wallets that support Miami Coin, including desktop wallets, mobile wallets, and hardware wallets. If you need help deciding what type of wallet to use, we suggest reading through this step-by-step guide to choosing a crypto wallet.
As MiamiCoin begins to gain more attention, the movement behind it has begun to grow. While this cryptocurrency may be a little unorthodox, it does provide a unique opportunity for investors to diversify their portfolios. As the company grows, so will its potential for rapid growth and value appreciation.
MiamiCoin is currently in the spotlight after being accepted by a few businesses in its hometown of Miami, Florida. It’s also received media attention from several local newspapers and television stations. Additionally, the founder of MiamiCoin has been working to spread awareness about his cryptocurrency through various interviews and appearances at local events, such as the Miami Bitcoin Conference.
The company also aims to become a local cryptocurrency market leader by helping local businesses adopt Bitcoin. However, it does face some challenges along the way. The MiamiCoin team must compete against existing cryptocurrencies like Bitcoin and Ethereum. Additionally, it must persuade local businesses to accept its coin as an alternative form of payment in exchange for goods and services.
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