Note: This asset is not listed on Binance for trade and service.
Crypto asset prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks.
Binance is constantly reviewing and adding crypto assets that can be used on the Binance platform. If you would like to know where to buy SILK, which is currently not listed on Binance, you can follow the step-by-step guide below.
The most straightforward way is to find a reliable centralized exchange where you can buy SILK, similar to Binance. You can refer to Coinmarketcap.com's Markets section to find the list of centralized exchange the coin is listed on.
Another option to buy the SILK is through a decentralized exchange (DEX) which supports the blockchain where your SILK resides. This guide will show you how to buy SILK by connecting your crypto wallet to a decentralized exchange (DEX) and using your Binance account to buy the base currency.
1
Download a Trust Wallet Wallet
There are several crypto wallets to choose from within the Ethereum network and Trust Wallet appears to be the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or the iOS App Store if it’s available. Just make sure that you are downloading the official Chrome extension and mobile app by visiting Trust Wallet’s website.
2
Set up your Trust Wallet
Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app you downloaded in Step 1. You may refer to the wallet’s support page for reference. Make sure to keep your seed phrase safe, and take note of your wallet address. You will be using it later on Steps 4 and 6.
3
Buy ETH as Your Base Currency
Once your wallet is setup, you can login to your Binance account and proceed to the Binance Crypto webpage to buy the ETH. If you are not an existing user, you can refer to our How to Buy ETH guide on registering and buying your first Crypto asset on Binance.
4
Send ETH From Binance to Your Crypto Wallet
Once you buy your ETH, go to your Binance wallet section and look for the ETH you purchased. Click on withdraw and fill up the required information. Set the network to Ethereum, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your ETH to appear in your Trust Wallet.
If you are using Binance Website:
If you are using Binance App:
5
Choose a Decentralized Exchange (DEX)
There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use Trust Wallet wallet, you can go to 1inch to make the transaction.
6
Connect Your Wallet
Connect your Trust Wallet wallet to the DEX you want to use by using your wallet address from Step 2.
7
Trade Your ETH With the Coin You Want to Get
Select your ETH as the payment and select the SILK as the coin you want to acquire.
8
If SILK Doesn’t Appear, Find its Smart Contract
If the coin you want does not appear on the DEX, you can refer to https://etherscan.io/ and find the smart contract address. You can then copy and paste it into 1inch. Beware of scams and make sure you got the official contract address.
9
Apply the Swap
Once you are done with the previous steps, you can click on the Swap button. From deciding where to buy SILK to making the purchase, your crypto transaction is now complete!
Crypto asset prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by Binance about the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions. Binance is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning.
Please also note that data relating to the above-mentioned crypto asset presented here (such as its current live price) are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance’s control. Binance is not responsible for the reliability and accuracy of such third-party sites and their contents.