How to Buy EMV Token (or any ERC-20) token with Parity Wallet and EtherDelta Exchange
This video shows you my first experience buying EMV tokens on EtherDelta using the Parity Wallet. So it’s slightly rough in a few places, and maybe later I’ll make a shorter version now that I’ve had the experience. In the video, I bought EMV tokens with a small amount. I suggest starting with a small amount of $1 to $10 to begin with. Make sure you know how everything works before you try a larger amount. EMV is one of several thousand ERC-20 tokens hosted on Ethereum; for full info about EMV, see their website (Ethereum Movie Venture).
from my YouTube Channel: NealsVideos.com
- The first step is really to make sure that you have some Ethereum to invest. If you have BitCoin, you might have to trade it to Ethereum first (not covered in this video). Most people have an “on-ramp”, such as CoinBase or CoinMama connected to their bank account. Others uses local dealers to buy BitCoin or Ethereum.
- If you don’t have a suitable wallet available, download one, such as Parity. Download parity from here: https://parity.io/parity.html. This is where you want to store your EMV (or other ERC-20 token). Make sure you backup everything, and save your recovery words somewhere safe (or print them out). If a hacker gains access to these codes, they can take all your tokens.
- Transfer the amount of Ethereum you want to invest to your EtherDelta account. (In the video, I went from CoinBase to Parity Wallet, then to EtherDelta, but the intermediate step was unnecessary).
- In EtherDelta, select the EMV token from the top
- In EtherDelta, enter an amount of Ethereum and click the Deposit key to move your ETH to the EtherDelta Smart Contract for Trading.
Make sure you have a little extra ETH available to cover fees. You might have to wait a minute or two for the transaction to get processed, and you will see the deposited amount.
- In EtherDelta, click the lowest price in the red. You can see how many tokens they are selling. If more than what you want to buy, then type in the amount you wish to buy.
If you want to buy more than that, you will have to buy all of tokens of that order, then repeat the process with the next lowest price until you are able to buy what you want. When you change the number of EMV tokens and click or tab off that field, then the “ETH” will automatically get recomputed.
NOTE: looks like there is no”are you sure button”, so be sure you enter the proper numbers before clicking the blue “Buy” button.
- Withdraw your EMV (or other selected and purchased ERC-20 token) from the EtherDelta trading contract to your EtherDelta Wallet
- Transfer your EMV (or other selected and purchased ERC-20 token) to your Parity Wallet (or any other Wallet where you want to store your tokens)
You might have to wait a few minutes for it to process.
- Check your Parity (or final wallet). Within a few minutes you should see the tokens your purchased there.