How to Buy REEF on Gate.io
For many, their first foray into cryptocurrencies can be daunting. If you’re not an experienced traditional finance trader, the user experience and interfaces provided by centralized exchanges can be confusing. To help ease this process, we have put together this guide for how to buy REEF tokens, and deposit them into your Reef Chain wallet.
Note: This guide assumes you have a Reef Chain wallet set up already using Klever, Reef.js, or Polkadot.js.
First, visit gate.io, and select “Sign Up.”
If you receive a notice about trading certain countries or U.S. states being restricted, please ensure you read and acknowledge it. We don’t want you getting into unnecessary legal trouble with your local government, and you might need to complete a Know Your Client identity verification process with Gate.io later.
Next create a username, enter your email address, and a password. Make sure this is a strong, complex password or passphrase that can’t be guessed by someone else. You should consider using a password generator, either standalone or built into a password manager app, to generate strong passwords.
Once you have finished this step, you will receive an email from Gate.io containing a link; you must click this link to verify your email address. Once you have verified your email address, sign in to Gate.io using your new username and password.
Upon logging in for the first time, Gate.io will recommend you take various steps to secure your account, like enabling multi-factor (or two-factor) authentication. The Reef community also recommends you take these extra steps! Authy, Microsoft Authenticator, Google Authenticator and other similar options all work well and are cross-platform.
Gate.io will also ask that you set up a separate withdrawal password; take a moment to do this and record it in a safe place like a password manager. This password must be different from the account password created earlier.
Once you have 2FA enabled and your withdrawal password set up, you can deposit funds to Gate.io from another wallet!
In the top navigation menu, go to Wallet > Deposit and then select the coin or token you wish to deposit (e.g. REEF).
Select the blockchain you wish to use for the deposit (e.g. ETH/ERC20).
This step is important because Ethereum VM-compatible chains, Substrate-based chains, and others have different wallet address formats. Sending tokens or coins to the wrong address can result in permanently lost funds.
For your first deposit, you will need to generate a wallet address; when the countdown timer ends, refresh the page if it doesn’t automatically refresh.
Select “Copy” to place the wallet address in your system clipboard.
Open your wallet or exchange where you are sending tokens from, choose the token you’re sending, and paste the address you received from Gate.io. Double check that the wallet address pasted is the same as the one you copied from Gate.io’s Deposit page.
Input the number of tokens to send, and initiate the transaction! Depending on the blockchain used, the tokens could arrive within a few minutes, or it may take up to 30 minutes after sufficient transaction confirmations have occurred. In a worst case scenario, if you haven’t seen a deposit confirmation after a day, contact Gate.io support to find out what the issue is.
Once your deposit has arrived, you are ready to trade!
In the top navigation menu select Trade > Spot Trading > Standard; this Standard mode is sufficient for most users, and can still present challenges if you’re not used to these types of interfaces.
Use the search box to find a market that will work for you, e.g. REEF_ETH, and select it.
Note: if you want to deposit stablecoins to sell, Gate.io will force you to complete identity verification (KYC) first. Make sure to complete KYC 1 and KYC 2 to avoid any further hurdles.
Enter the amount of tokens you wish to sell, and select the green BUY button.
By default, Gate.io creates a limit order that should be filled within a short period of time; you can customize the value before hitting the BUY button. Pending orders appear below under the “My Orders” tab.
Within a few minutes, or even a few seconds, your order should be filled! You have made your first purchase of REEF! 😀🎉
Now let’s head back to Wallet > Withdraw. Select REEF from the dropdown menu, and select REEF Chain.
Open your wallet app, copy your Reef wallet address, and paste it in to the ‘REEF Address’ field.
Scroll down and you will need to enter your fund withdrawal password previously created.
Select “Send Email Code,” and Gate.io will send you an email containing a six digit code. Copy that code from your email, and paste it into the “Email Code” field.
Then, if you set up 2FA earlier, open your 2FA app, and input the six digit code seen into the “Google Authenticator(TOTP)” field. Then select “Submit Request.”
Gate.io will take a few moments to generate the request, and provide one more verification method using a jigsaw puzzle piece. Move the puzzle piece to the empty part of the image, you’ll be asked to validate the withdrawal, and you’re done!
Gate.io will also send you an email to verify a withdrawal was initiated. Within a few minutes, your REEF coins should be in your wallet.
If you need assistance please contact Gate.io support, or join the Reef community to ask questions about how to use Reef.js or Polkadot.js. The Klever community can help you with any questions you have about their wallet app.
Thanks for following along, and we hope you found this really helpful!
About Reef
Reef is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.
- 🌎 Website: https://reef.io
- 🐦 Twitter: https://twitter.com/reef_chain
- 🗣 Discord: https://discord.gg/reefchain
- 💬 Telegram: https://t.me/reefchain
- 📚 Medium: https://medium.com/reef-finance
- 📸 Instagram: https://www.instagram.com/reef.io/
- 🤖 Reddit: https://www.reddit.com/r/ReefDeFi/
