On decentralized exchanges, certain cryptocurrencies, like Raydium, can only be bought using another cryptocurrency. You must first acquire Ethereum (ETH), and then you must use ETH to buy Raydium. And you need a wallet known as a self-custody wallet to do so. Here’s :
how American citizens can do so using Coinbase Wallet.
1. Download Coinbase Wallet at number one.
Raydium can only be purchased using a self-custody wallet, such as Coinbase Wallet. Both a browser extension and a mobile app are offered for Coinbase Wallet. Go here to download Coinbase Wallet.
2. Select a Coinbase Wallet login. multipleAssets
You must select a username while configuring your Coinbase Wallet. With this login, other Coinbase Wallet users can send you cryptocurrency with ease. The username is optional, however it is necessary to access the account.
3. Safely store your recovery phrase after downloading the form
A recovery phrase made up of 12 random words will be sent to you when you create a new self-custody wallet. Anyone who knows your recovery phrase gets access to your crypto because it is the key to it. Keep your recovery phrase a secret from others.
We strongly advise writing these down on paper, keeping them in a safe place, and using the cloud backup function of Coinbase Wallet.
Do not divulge your recovery phrase to anyone, please. Your recovery phrase will never be requested by Coinbase. Additionally, Coinbase cannot assist you in accessing your wallet if you forget your recovery phrase.
4. Recognize and prepare for Ethereum network fees
Fees vary according to the amount of traffic on the network, the complexity of the transaction, and how quickly you need the transaction to be finished. Consider saving some cash for fees. Here is more information on Ethereum costs.
5. Buy ETH and send it to your Coinbase Wallet using moneyEarn
To purchase Ethereum, you must first open a Coinbase account if you don’t already have one (ETH). Find out more here about how to sign up for a Coinbase account and purchase Ethereum (ETH). Depending on whether you’re using the mobile app, there are different ways to add Ethereum to your Coinbase wallet.
6. Use ETH to purchase Raydium in the trade tab.
Raydium can be purchased directly in the Coinbase Wallet app if you have it installed on your smartphone. Click the Coinbase Wallet App image. Then select the “Trade” option to exchange ETH for any token that adheres to the Ethereum protocol (also known as “ERC-20 tokens”). Select Raydium by tapping “choose coin.” Enter how much ETH you want to trade for Raydium. Don’t forget to budget for transaction costs. To complete, confirm your purchase and adhere to the on-screen instructions.
Click “Convert” if you are using the Coinbase Wallet plugin. Enter the quantity of ETH you want to trade for Raydium when searching for it. Don’t forget to budget enough for