One of commonly asked questions is how to buy DAT, our Datum token using Bitcoin, the world’s leading cryptocurrency. In this short guide, we’ll show you how.
Step 1. Open an Ethereum Account Which Only You Own!
Opening an account at one of exchanges is the easiest way to enter the world of cryptocurrencies, but there’s a caveat with those accounts: they are owned by the company, not by you. Thus, always own a Bitcoin, Ethereum and Altcoin wallet which only you control — think of it as cash vs. bank accounts and debit cards. Cash is something that you physically posses, while your debit card is linked to your bank account and you place belief in the institution behind it that they will come good on the funds you have there.
At Datum, we recommend MyEtherWallet, due to its easy integration with hardware devices such as Trezor. Watch an easy instruction video on how to open an MyEtherWallet:
Step 2. Go to Datum Website and Register for Whitelist
As we describe in our blog post here, head over to datum.org and register your ETH account for the whitelist. Once you upload your details, you will receive a green checkmark and your address is good to go.
Step 3. Send Bitcoin using Shapeshift.io to Your ETH Address
We recommend ShapeShift as a very affordable way to convert and sell currencies around. While exchanges such as Coinbase are really popular, the potential fees (even up to $20 or EUR 20 per transfer) present an unattractive proposal for smaller sums.
Remember — Send money to YOURSELF!
Once the transfer is done, reload your MyEtherWallet address and you’ll see your ETH (Ethereum) there.
Step 4. Use Your Approved ETH Wallet to Send ETH to Datum’s ETH Address
Once you see the ETH balance in your wallet, simply send ETH tokens to our Ethereum address: 0xE6766297571F8693adec94e5f8ef363D323e211D
That’s that. Go back to Datum.org website, and you’ll see your balance in DAT tokens.
Step 5. Thank You!
You are now a part of Datum family. Thank you and welcome to the new world of owning your own data.
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