Cryptocurrency, often referred to as "crypto," is a decentralized digital currency that utilizes encryption techniques to secure and verify transactions. Trinidad and Tobago, a twin-island nation in the Caribbean, is gradually embracing this innovative financial technology. The interest in crypto stems from its potential to provide a secure and efficient means of transferring money globally, with instant transactions and low fees, compared to traditional banking systems that can be time-consuming and costly. Moreover, many individuals view crypto as an investment opportunity, hoping for its value to appreciate over time.
With the help of Sunshine Exchange, your Crypto Currency investment journey in as simple as four steps.
Step 1: Download a wallet that allows you to receive and hold Crypto Currency.
We recommend Binance as its the most all in one type of wallet. Binance is both an exchange and a wallet. For most user, they are able to buy, sell and trade several digital assets, as well as several other features from just one platform. However, for Trinbagonians, we are unable to utilize the buy and sell with credit cards or bank accounts ability of this platform (or any other international exchange) from Trinidad (only buying and selling of Crypto Currencies for other Crypto Currencies). That's where sunshine exchange comes in. Binance can be accessed by going to ww.binance.com or from the app store (ios) or google play (android). We recommend using the app for buying Crypto Currencies with stablecoins.
For this guide, we will be using Bitcoin as our example Crypto Currency, all fields that require you to type in "Bitcoin" or "BTC" can be replaced with any other Crypto Currency, for example "Ethereum" or "ETH".
Step 2: Set up your wallet.
For this guide we will assume you're using Binance as your choice of wallet. You can follow our "How to Create and Verify your Binance Account" guide to ensure there are no mistakes while making your Binance account.
Step 3. Getting Stablecoins.
Now that you have a way to receive the crypto you can begin the process for buying it. You buy crypto two different ways. You can try to buy the crypto currency from someone who is selling it or willing to sell it, or buy a stablecoin (most people only sell stablecoins) and convert your stablecoin into the crypto currency of your choice. This guide will take you through second option.
With Sunshine Exchange this process is made simple. After creating an order with us (by going here) for a stablecoin of your choice, BUSD,USDT, or BUSD (If you are unsure of what stablecoins are please read this "Stablecoins Explained" guide), you will receive your chosen stablecoin into your Binance Wallet. When you have the stablecoin in your wallet, ensure the stablecoin is in your spot wallet. This can be done by clicking the wallets tab at the bottom of the screen,
selecting to overview and the top of the screen and seeing where it is.
If its not in your spot wallet please click on the spot button at the top of the screen, then click the transfer button
and select the account its in (as seen in the overview tab) in the "from" row and put spot in the "to" row. Change the field that says BTC to the stablecoin of your choice and put in the amount of the stablecoin you will be using to purchase BTC then click confirm transfer.
Step 4. Buying the Crypto Currency.
Now that the stablecoin is in your spot wallet, you can navigate to the trades tab at the bottom of the screen,
Then select this button "⇌ " at the top of the screen and ensure BTC/USDT is selected (or you're purchased stablecoin). If its not selected, you can search for BTC/USDC, or BTC/BUSD then select which one you have.
Ensure buy is selected,
Change the field that says limit to market by clicking limit then selecting market,
Press 100%, or manually enter in how much of the stablecoin you want to spend to buy some BTC.
Now you can press Buy BTC
Congratulations! you now first Crypto Currency.
