What is Siacoin? How to Buy Siacoin?

What is Sia?

  • Sia is a decentralised cloud storage platform using a blockchain for making payments. The platform allows you to rent storage, get paid to host files, contribute to the project, and mine Siacoin. It was developed by Luke Champine and David Vorick of Nebulous Inc.
  • Currently, all the existing cloud storage providers are centralised. So, the costs are very high, and most often, the data is unencrypted. But, Sia allows for decentralised, private, and distributed cloud storage at a lower price.
  • Sia supports decentralised payments via file contracts. It uses a cryptocurrency, called Siacoin, for making all the payments happening on the network. Siacoin makes things possible which could not be done with Bitcoin or traditional online payments.
  • Here is a complete guide explaining how to buy Siacoin. Many people are interested to know this as Siacoin just hit an all-time high. The only good way to buy Siacoin is Bittrex. Make an account on Bittrex by registering with the company. Now, you can buy Siacoin by making payments through a variety of options.

Buy Siacoin with Credit Card or Debit Card

  • Buying Siacoin with a credit card is not possible in the USA. For instance, it is very hard to find a legal way to buy Siacoin with a credit card. So, all you need to do is, buy BTC with your credit card. Coinbase is the easiest place where you can buy Bitcoin with a credit card in the USA, Australia, Europe, and Singapore.
  • Once you are done with buying BTC, you can convert your BTC to Siacoin coins in just ten minutes through Bittrex.

CoinMama

If you are not successful in buying BTC on Coinbase through a credit card, CoinMama allows you to buy BTC with the credit card from almost all the countries. After buying BTC, convert them to Siacoin coins using Bittrex.

-BitPanda

If you reside in Europe, BitPanda which is based in Austria allows you to buy BTC with your
credit card for lower fees. Once you have BTC, convert them to Siacoin coins using Bittrex.

Buy SC with Bank Account

If you are from the USA, Australia, Europe, or Singapore, you can buy BTC with your bank account using Coinbase or any other platform. Once you have BTC, you can use Bittrex to convert BTC to Siacoin coins.

Buy Siacoin with PayPal

Similar to other methods, if you wish to buy Siacoin with PayPal, you will first need to buy BTC with PayPal and then convert the BTC to Siacoin coins using Bittrex. There is no other way to buy Siacoin using PayPal.

Buy Siacoin with Cash

It is evident that Siacoin could not be directly purchased with cash as there is no way to purchase it with bank or PayPal directly. So, similar to the other methods to buy some BTC with money and then convert BTC to Siacoin coins using Bittrex.

Buy Siacoin with Bitcoin or Ethereum

Bittrex provides you with an easy way to exchange BTC for Siacoin coins. You can buy
cryptocurrency like Ether or BTC for converting it to Siacoin coins.

Buy Siacoin with Skrill

The only direct way to buy Siacoin is with Skrill. But, it is only available on BitPanda which is
limited to Europeans. So, if you are not European, this method won’t work for you.

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