Namecoin Cryptocurrency: How And Where To Buy NMC?

The Namecoin cryptocurrency has been viral on many charts this year, showing that it is a serious altcoin to watch out for. The latest altcoin news show that NMC is under the impression of the coronavirus crisis and is falling lower. However, NMC is still a coin to watch out for.

As an open source cryptocurrency based on the Bitcoin (BTC) code, the Namecoin cryptocurrency was launched in 2011 with a goal not to decentralize the financial system but to decentralize the Internet domain name system (DNS). In that way, the project aims to improve website security and make websites resistant to censorship, as well as improve the speed of the entire Internet infrastructure.

If you are thinking of buying NMC, there is a selection of exchanges where you can do that. Once you decide to buy the Namecoin cryptocurrency (NMC), here is how you can purchase your coins:

Step 1: Create an account at an exchange that offers the Namecoin cryptocurrency

The good news is that you can register for an account at any of the exchanges that list NMC. One good choice is Poloniex, mainly due to its high trading volume of NMC. The first thing that you will need to do is sign up, enter your email address and create a password. You will then be prompted to verify your account and submit an ID as well as two-factor authentication for increased security.

Step 2: Deposit funds into your account

Buying the Namecoin cryptocurrency is easy once you deposit funds into your account. Most of the exchanges don’t have an option to deposit fiat currencies such as US dollars which means that you will need to deposit Bitcoin (BTC). If you don’t have any BTC, you can see this guide on purchasing BTC directly from our Bitcoin news and guides.

Step 3: Buying NMC

Now that you have some BTC in your account, you will need to find an “Exchange” or “Markets” button and then search to find the NMC trading pair. If you are using Poloniex, you will have to click on the “Exchange” button for a price chart to appear. Once you find the NMC/BTC price chart, scroll down to the page where you can see “Buy NMC” and the current price will be copied into the buy square. This is how you can purchase the Namecoin cryptocurrency.