1. Create your Element wallet.
- If you haven't yet done so, your first step will be to create your Element United account and set up your Element wallet. You can find directions to do so here:
2. Download an external crypto wallet of your choice
- A crypto wallet gives you the ability to buy and sell cryptocurrencies on a public exchange. Coinbase or Crypto.com are popular external crypto wallets for beginners. We will use examples from Coinbase in this guide, but if you are using a different crypto wallet the process should be similar.
- After you have created your wallet in step 3, connect your bank account or bank card so you can add funds to your Coinbase wallet.
- Update the node quantity within the Element shop and the Order Summary section will display an accurate total for your order.
- Transfer the calculated amount in step 5 from your bank to your Coinbase wallet. There are two important notes for this step:
- Transfer additional funds to cover exchange fees, gas fees, and price changes in the node. For example, if I plan to buy 2 Element Smart Nodes for $2,500 each, I could transfer $5,400 ($5,000 for nodes + $400 as an optional buffer) so I will have sufficient funds after any fees.
- When you purchase cryptocurrency for the first time, there is usually a holding period of 3-14 business days before you can send crypto from your wallet. If you are worried about Ethereum volatility during this waiting period, you may want to purchase a stable coin like USD Coin (USDC) or Tether (USDT) and then convert your funds to Ethereum when you are ready to purchase nodes and send funds to Element United.
- After 3 or more business days (this time varies based on the crypto wallet and location), you will be able to send your crypto from your Coinbase wallet (to your new Element wallet from step 1) and obtain the required amount of ETH for your node purchase if you haven't yet done so.
- Your ETH is now ready to purchase an Element node. Visit this page to be directed to the shopping cart. This guide will be kept open for additional steps.
- To purchase a node, you will need to fund your Element wallet. After adding items to your cart, click "+ Add More ETH" in the Payment Options section from the bottom right corner of the page. Scan the QR code or copy your Element wallet address and send over the amount needed for your purchase from your Coinbase wallet.
- You will now be taken to a page where you can preview your order, lock in your price, and review the purchase agreements. Click "Agree and Continue" to be directed to the final Order Summary page. At the bottom of the page, there is a field to enter your Element Wallet Passcode (also referred to as your Wallet Passcode) to confirm your purchase.
- Complete sending the ETH to Element United and you're all set! The transaction completion time will depend on how busy the Ethereum network is (could take up to 30 minutes, but generally takes 5-10 minutes). You will be taken to a confirmation page on the Element website and receive a confirmation email once the purchase is confirmed! Congratulations! For information on how to set up your Element Node, please refer to this FAQ.