How to Buy SUN (SUN) – Complete Beginner’s Guide (2021 Update)

If you’re interested in purchasing SUN (SUN), you will need to have Bitcoin (BTC) or Ethereum (ETH) to
trade
with. In this guide, I recommend the largest cryptocurrency exchange Binance where you can buy crypto using your bank
account or credit card.

Step 1: Setting up your Binance account:

1.1  Go to Binance’s website (https://www.binance.com/en)

Binance Website

Sign Up Binance Now

Note: There have been many cases of phishing sites that mirror the actual site, so make sure you examine the URL
carefully and look out for the ‘Secure’ certificate in the address bar to confirm the authenticity of the site. For
security, make sure to bookmark the original site to avoid future mix-ups.

1.2 Complete the signup process

Click on the “Register” tab in the right-hand corner of the webpage and fill in your details. You can either signup with
your mobile number or your email address. If you decide to use the email option, please MAKE SURE that the email address
you enter is the one you have access to and is your most secure email as this is how you will always sign in to your
Binance account.
After filling in your email address and choosing a password (When creating a password, use a mix of numbers, symbols,
upper and lower-case letters), use the 6-digit verification code sent to your mail to verify your account and complete
the registration process.

1.3 Enable two-factor authentication (optional)

Once your account is created, even though optional, two-factor authentication (2FA) is recommended to make it more
secure. When you log in for the first time, you’ll be asked if you want to set up 2FA. Believe me, you DO want to set up
2FA because it’s very important!
With 2FA, you will be asked for a special code to type in after you’ve logged in with your e-mail and password. This
code is generated through an app on your smartphone called Google Authenticator. You will need to download it on your
mobile phone in order to generate the code.

Step 2: Making your first purchase of Bitcoin

Purchase Bitcoin with Credit Card
To fund your crypto wallet on Binance, you can fund it directly from your bank account using a SWIFT transfer or you can
use your debit/credit card. (In this section, we’ll focus on the credit card option).
Previously, the option to use a credit or debit card was not available on Binance, but recently that has changed. Due to
Binance’s partnership with Simplex, Binance users can now use their credit or debit cards to purchase Bitcoin or
Ethereum. Benefits of using credit or debit cards to make a purchase on Binance include fast delivery speed, low fees,
and increased convenience.
As I said earlier, it is recommended that you should purchase Bitcoin first and then later on you can trade it for the
desired amount of SUN (SUN).
Purchasing using your credit card is not a complex process but I will still provide you with the steps involved to make
sure that you get it absolutely right.
· Move your mouse up to “Buy Crypto” button on the top bar. Once you activate the dropdown menu, choose your currency,
i.e., USD nd click on “Credit/Debit Card” to be directed to the next step.
· On the next page, you will be able to select which coin you wish to buy (Select BTC), as well as the order amount. The
total charge will be displayed according to the order amount and current market price (all fees are included). If you
prefer, you can set the total charge first and the order amount will be calculated automatically.
· When you are ready, click “Buy BTC” A window will appear so you can confirm the details of your order. Read the
disclaimer and Terms of Use and, if you agree, tick the box and click “Go to payment.”
· Next, you will be required to fill your credit card details along with your personal information. When you are done,
click “Pay now” and wait for your card to be verified
· If this is your first Simplex payment, you will be required to verify your email and phone number. You will receive an
email and an SMS with a verification code. To finish the verification process, you need to open the link sent by email
and insert the code received by SMS. Once you are done, click “Continue.”
· Next, you will be required to verify your identity using an official document. Please upload a picture of your
document along with your personal data and click “Upload Document.”
· Finally, your documents will be verified and, if approved, you will receive an email stating that your purchase has
been confirmed. Your Binance account will be credited shortly with the purchased Bitcoin/Ethereum.

Step 3: Transfer Your Cryptos to an Altcoin Exchange

okex homepage
Now it’s time to purchase SUN (SUN) using your investment from Binance.
Since every crypto can not be traded in Binance we need to transfer our coins to an exchange that SUN
(SUN)
can be traded. So I will guide you to Okex which is a well known exchange to trade altcoins. Use the link below to
register your new account.

Sign
Up Bitmax Now

After completing similar processes as we’ve done before with Binance we are ready to transfer our Bitcoins.

Step 4: Deposit BTC to Exchange

Once you have your trading account setup at one of the exchanges that trades SUN (SUN), you will need
to
transfer your BTC from Binance to that specific exchange. This is done via a wallet system.
okex deposit
Mouse over to “Assests” on the top right and click “Deposit”.
Find “BTC” from Token section and copy the given “Deposit Address”
This part might seem a little bit complex but don’t worry, it is easier than a bank transfer.
Once you copy your unique BTC wallet address go back to Binance.
Move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Spot
(Deposit & Withdrawal)”.
Search for BTC in the list and click on “Withdraw” on the right hand side.
Paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Write down the
amount that you want to withdraw (you may click the Max button if you want to withdraw all).
Click on the Submit button to begin with the withdrawal process. To proceed with the withdrawal, Binance may ask you for
your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That’s it, now you should wait for a while so that the blockchain to confirm your transaction.

Step 5: Trade SUN (SUN)

Now you can go back to Okex to buy SUN (SUN) with the Bitcoins you sent.
Mouse over “Trade” and click “Spot” then you will see trading menu.
okex trade
In the left column make sure to select “BTC” pair and in the search bar type in “SUN”. Once you move your coin
click
on it and now you will see a price chart of SUN/BTC in the middle of the page. Choose the “Market” tab as that is the
most straight-forward type of buying orders. You can either type in your amount or choose what portion of your BTC
deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything,
click “Buy SUN”. Now you own your SUN !

Other Exchanges to Buy

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes
and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be
lower. It is suggested that you also register on these exchanges since once SUN (SUN) gets listed
there it
will attract a large amount of trading volumes from the users there, that means you will be having some great trading
opportunities!
Huobi
Bittrex
Bitmax
Hotbit
Bitmart

Safety Tips for Trading on Binance:

Sadly, we don’t live in a perfect world and there are a lot of hackers and scammers out there. When trading altcoins on
Binance, safety is paramount. There are several ways you can protect yourself from hackers and thieves. Let’s take a
look at the best ways.
Don’t click on links to Binance in emails/pop-ups. Check the official Binance URL and bookmark it! (Look out for the
“secure” tag on the address bar). Also, if you need to contact the Binance team, ensure you use the contact information
found on its secure homepage.
Always use two-factor authentication. While you will be allowed to complete setting up your Binance account without 2FA,
I strongly advise that you don’t. It is a very important step in securing your account and it will help protect your
account from hackers and scammers. Binance currently offers two options for 2FA: SMS and Google Authenticator. However,
they recommend using Google Authenticator.
Use a strong password for your Binance account and you can change it regularly.
Always regularly check the list of devices that have been authorized to access your Binance account. If you see any
devices that you don’t recognize or no longer use, simply remove them
Allow withdrawals only to addresses you trust and check the whitelist regularly.
Use strong anti-virus software: Your Binance account is only as safe as the device you’re accessing it from. Make sure
all the devices you use to access your Binance account are free from bugs and viruses.

Frequently Asked Questions

Can I buy SUN (SUN) with cash?

There is no direct way to buy SUN (SUN) with cash. However, you can use marketplaces such as
LocalBitcoins to
first purchase Bitcoin, and finish the rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from
each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You
can choose to buy from sellers from a certain nearby region on the platform. LocalBitcoins is after all a good place to
go to buy Bitcoins when you can’t find your desired payment methods anywhere else. But prices are usually higher on this
platform and you have to do your due diligence to avoid getting scammed.

Are there any alternative platforms to buy SUN (SUN) or Bitcoin with credit cards?

Yes. Changelly is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency
exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and
the buying steps are pretty self-explanatory.

About SUN (SUN)

What Is SUN (SUN)?

SUN (SUN) is a cryptocurrency designed to further the development of decentralized finance (DeFi) on blockchain network TRON (TRX).

Described as “the quintessential Bitcoin equivalent on TRON,” SUN is a voluntary project which runs on TRON’s TRC-20 token standard. A dedicated community administers operations via smart contracts.

SUN’s genesis mining phase began at the start of September 2020, lasting for two weeks before the official launch. Participants can stake TRON’s TRX token or other TRC-20 tokens to earn rewards and governance rights for SUN.

Who Are The Founders Of SUN?

SUN is closely associated with TRON, and conspicuously bears the surname of TRON’s founder, Justin Sun.

Sun is a well-known figure in the cryptocurrency community, infamous for his vocal promotion of TRON and discussing cryptocurrency with Warren Buffett at a lunch for which Sun paid $4.5 million.

Sun has publicly promoted SUN, and while the identities of its developers themselves have not been formally revealed, a dedicated community is tasked with its operations and growth.

True to the DeFi mantra, all activities and updates are executed on smart contracts in accordance with community governance procedures.

SUN’s whitepaper calls it a “social experiment,” and plans for the future state that the token “may also take part in decentralized lending, insurance, liquidity, stable coins, etc.”

What Makes SUN Unique?

SUN’s main purpose is to exist as support for the TRON protocol, which aims to create a decentralized internet ecosystem.

SUN specifically focuses on DeFi and aiding its uptake and infiltration on TRON’s blockchain. As such, its function mimics that of the native tokens of DeFi platforms, and rewards users for staking other coins and involving themselves in governance procedures.

Its appeal will, of course, be to existing TRON users and those familiar with DeFi staking and related activities.

Profitability appears to be a question mark as of September 2020, the month of SUN’s launch. According to the whitepaper, developers privilege “fair” token distribution and did not accept any funding, nor was any SUN reserved for them or TRON team members.

This is in contrast to TRON itself, which raised over $70 million in an initial coin offering (ICO) in 2017.

Read more about TRON here.

Read more about yearn.finance here.

Crypto newbie? Find all the answers in Alexandria, CoinMarketCap’s dedicated education resource.

How Many SUN (SUN) Coins Are There In Circulation?

SUN had zero premine at launch, and its whitepaper states that the only way to earn it is by mining. This is done by staking either TRX or other tokens issued on TRON’s own TRC-20 standard.

Two mining phases occurred: genesis mining, which lasted for two weeks in September 2020, and regular mining thereafter.

The genesis mining phase mined 9.34% of the total SUN supply. The total supply is 19,900,730 SUN.

User allocations of SUN depends on the amount of value they have staked and the duration of its dedication to staking. Per the whitepaper, users are free to stop staking and claim their SUN allocation at any time.

How Is the SUN Network Secured?

SUN’s security setup is similar to many other proof-of-stake (PoS) cryptocurrencies, relying on community consensus and financial incentive to secure the network.

Despite touting its similarities in ethos to Bitcoin, the token is not proof-of-work (PoW) based, and does not offer the same benefits of the Bitcoin blockchain’s years of openly verifiable transaction validation.

Potential stakers should be aware of the risks involved in locking funds to smart contracts, despite SUN’s protocol already being independently audited.

Where Can You Buy SUN (SUN)?

SUN has spread to a large number of exchanges in the short time that it has been mined, with pairs available for cryptocurrencies and stablecoins.

Huobi, Binance and OKEx are among the major liquidity providers. OkEx also offers USD derivatives.

New to crypto? Check out our easy guide to buying Bitcoin or any other token.

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