How to get Megacoins
This is a beginners guide to help new Megacoin supporters get hold of some precious Megacoins of their own.
There are three main ways in which you can obtain Megacoins. The first method is described in detail below. In simple terms the three methods
Ways To Get Megacoin
Buy Bitcoins then exchange for Megacoins on an altcoin exchange such as Cryptsy.com.
Buy Megacoins directly from one of the Megacoin forum members, usually via bank deposit / telegraphic transfer or in person.
Buying Bitcoins and Exchanging for Megacoins
Despite the many steps outlined below usually the easiest method for getting hold of Megacoins is to first buy Bitcoins and then exchange for Megacoins. Once you have done this a few times it will seem very straight forward.
International Bitcoin Services
First lets go through some of the websites / services in which you can buy Bitcoins. (This list will be added to as we learn of new services or suggestions are made).
MtGox – http://www.mtgox.com – Not recommended as funding your account with a bank deposit can be very slow.
LocalBitcoins – https://localbitcoins.com/ – Allows you to find people close to you that want to sell Bitcoins, can be quite a good service although prices are often higher than market prices. A great place to start buying Bitcoins.
Coinjar – http://coinjar.io/ – Allows you to fund from a bank account and then purchase Bitcoins, fees are reasonable and once your funds have cleared actually receiving your Bitcoins is quite fast.
Coinbase – https://coinbase.com/ – “Coinbase is an international digital wallet that allows you to securely buy (Bitcoin)”
Once you have decided where to buy your Bitcoins and have funded your account or arranged to meet someone locally you will need a Bitcoin deposit address.
There are two ways to get a Bitcoin address to send your coins to.
Note: You can skip the first method (Installing Bitcoin wallet) and send the Bitcoins you buy directly to your altcoin exchange Bitcoin deposit address (explained below).
Download a Bitcoin wallet from http://www.bitcoin.org
Once you have downloaded the wallet proceed to install the wallet.
Once the wallet is installed run the wallet program and it will proceed to ‘Synchronize with the Network’. If it is your first time using the Bitcoin wallet this can take many hours.
Once the wallet is synchronized you can begin using your wallet.
To get your wallet address to receive Bitcoin go to the ‘Receive’ tab and copy the address you can see on the page. It will look something like: 18y13QC55KjrE11M6rD8VzdgmdHxfBAKU7. This will be where you send the Bitcoins you buy on one of the websites listed above.
Start an account on an Altcoin exchange (A few exchanges are listed below – However for this guide we will assume you are using Cryptsy.com)
Start an account at Cryptsy.com – free and quick
Navigate to the ‘Account’ tab at the top of the page on Cryptsy.com and select ‘Account Balances’
Scroll down to where you see ‘Bitcoin’ then go to the right of the page and select ‘BTC ACTIONS’ -> ‘Deposit / Autosell BTC’
Click on ‘Generate New Deposit Address, which will generate a new Bitcoin address for you, as seen in ‘Deposit Address’. This is the address you send your new Bitcoins to.
Buy Megacoin with Bitcoin
If you did setup a Bitcoin wallet on your computer and got the Bitcoins you purchased sent to your local wallet you will now need to send them to your Cryptsy Bitcoin deposit address now.
Once you have sent your Bitcoins to your Cryptsy desposit address you will need to wait a little while for your deposit to be confirmed, this will usually take around 30 minutes.
Now that you have some Bitcoins in your Cryptsy.com account you are ready to buy your first Megacoins!
Next, scroll down the Cryptsy screen until on the left of the screen you see ‘MEC/BTC’ and click on that tab. That will bring up the Megacoin order page. From here you will need to place a buy order for the amount of Megacoins you would like to buy and the price you would like to but at.
Once your buy order is completed you will have your new Megacoins in your Cryptsy account.
The next step is to get those coins into your personal Megacoin wallet.
To get a Megacoin wallet first go to: http://www.megacoin.co.nz/downloads
For simplicity lets assume you are going to use one of the pre-compiled wallet versions. So, if you are using Windows, download the Windows Megacoin archive or the executable file then install Megacoinor run directly from the executable file.
The first time you open up your Megacoin wallet (client) you will need to let the software ‘Synchronize’ with the network. This should take around half an hour to an hour depending on your internet connection speed.
To check you wallet is synchronized hover your mouse over the M type logo symbol in the far bottom right corner of your wallet. When you do this you should get a little popup screen that will say ‘Up to date’ if your wallet is fully synchronized with the network.
You are now ready to start using your new Megacoin wallet!
To get your address to receive payments, within you Megacoin wallet click on ‘Receive’ then right click on the address you see on the page and click ‘Copy Address’ – this is the address we will enter into the Cryptsy withdrawal address field.
The last thing to do is transfer your newly acquired Megacoins to your wallet.
Transfer your Megacoins
To transfer your Megacoins from your Cryptsy account navigate to the tab at the top of the page named ‘Account’ then go down to ‘Account Balances’.
Next you need to scroll down the page until you reach ‘MEC ACTIONS’ on the right hand side of the page. Then click on ‘Widthraw MEC’ and a popup window should show up. Enter your new Megacoin address (that you got from your Megacoin wallet), enter the amount of Megacoins you want to transfer and enter your Cryptsy password then click ‘send form’.
verify the transfer
You will now need to verify the transfer by going to your email and clicking on the withdrawal confirmation link within the email you receive from Cryptsy.
After a few moments (providing your local wallet is properly synchronized with the network) you should see your Megacoins arrive in your wallet.
Thats it, you now own your first Megacoins!
Megacoin Wallet Safety
It is highly recommended, to keep your wallet safe, that you now encrypt your wallet, this will prevent people from being able to steal your coins if they do somehow manage to get hold of your wallet.
You can encrypt your wallet simply by clicking on ‘Operations’ at the top of your Megacoin client and going to ‘Encrypt Wallet’ and following the prompts.
Last but not least, do not forget to make a copy of your encrypted wallet and store it somewhere safe!! You can make a copy of your wallet.dat file (the important part of your Megacoin wallet by clicking on ‘File’ in your megacoin wallet and then clicking on ‘Backup Wallet’.