How do I know how much ETH to convert to NRVE for a Niche that I've won?

You've won a Niche and now it is time to buy NRVE to pay for that Niche.  You're following the instructions on how to buy NRVE, but how do you know how much ETH to buy and convert to NRVE? 

Did you know that you can pay with a credit card?

It takes a little working backwards to figure out how much ETH to buy and convert to NRVE, but here is the best way that we know. Note that we can help you to learn to determine how much more ETH you would need to buy, but we cannot give you the exact numbers due to the fact that the market moves so fast, and what we post now will not be the correct number an hour from now. It'll be close but not exact. Ultimately, you'll probably be left with a small amount of ETH or NRVE left in your wallet.

We used LATOKEN in the instructions that is linked above, so we'll stay with LATOKEN. There are other exchanges that have NRVE and they will work in a similar fashion, though the on screen interface might look different.

If you go to LATOKEN's ETH/NRVE page you'll see the ETH NRVE page.  Over on the right, where the buy and sell buttons are, put in the amount of NRVE that you still need.  To the right of that, you'll see TOTAL  and the amount in ETH that you'll need to in order to buy the NRVE at the current market price, and the (very) approximate dollar value if that ETH.  For the sake of this tutorial we made up a random number, 350 NRVE.

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Now, a few very important things to note:

  •  The price of NRVE is continually fluctuating. The number that is automatically filled into the box is the last number that NRVE was bought or sold for on this exchange. You might get that price, you might not. If you click the lowest Red line in the order book (which is above this box) you'll usually get that price.
  • You'll also see that this exchange has a 0.1% processing fee for use. All exchanges have fees, of differing rates. LATOKEN is 0.1% so you'll really need to inflate your purchase by that amount of NRVE in order to get what you actually need.


Now work backwards. In this example we need to buy 0.03561950 ETH at Coinbase to get the NRVE that we need (we've left off the 0.1% just to simplify the example). Now go to Coinbase and on the buy ETH page we'll put in the amount of ETH that we need.   We will probably buy a little more because the markets move so rapidly that we don't want to get caught short in the 20 minutes or so that it takes for the sale to complete and the ETH to move over to LATOKEN
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That should get you really close to the right amount of NRVE without spending a lot extra. There will ALWAYS be a little extra ETH or NRVE left over somewhere. That's crypto. You'll never ever get an exact amount.

It's not a hard process and a lot of people think it's fun working through it and squeeze out that last 10th of a penny. The hardest part is realizing that everything is moving, and moving rapidly, while you're going through the process.

 

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