Buying MDAO on Bybit

Using Bybit as an example, we will show the process of buying USDT on a P2P, which you will need for the exchange to MDAO, as well as the withdrawal process from your wallet.

You will also need some BNB to pay for gas on the BSC network (BNB Smart Chain/ BEP-20) if you plan to withdraw MDAO to your non-custodial wallet in the future.

BNB is a native coin in the BSC network (BNB Smart Chain, BEP-20 token standard), which is used to pay for fees when transferring any tokens within the network. When you need to transfer tokens within the chain from wallet to wallet or make a payment, you must have BNB available on the same address from which the transfer is made (except for trading accounts).

How to buy MDAO on Bybit:

• Register and verify on the exchange

• Buy USDT via P2P

• Exchange USDT for MDAO via spot trading (you can also buy BNB via spot)

A verified account is required to use the P2P service on Bybit.

How to register and identity verification can be found in the instructions here.

Bybit offers the following ways to buy cryptocurrency:

• One-Click Buy

• P2P Trading

• Fiat Deposit

Let's take a closer look at P2P trading. Let's start with how to buy USDT via P2P.

Buying USDT through P2P

To buy cryptocurrency, go to "P2P Trading" through the dashboard or through the "More" section.

Choose a purchase method:

• P2P Trading

P2P allows choosing the merchant yourself and doesn't have big purchase limits, so let's use this method for the first example.

Choose P2P trading and read the quick guidelines.

In the User Center section, add the card to the Payment Method.

Click Add Payment Method and provide all the details in the form, then click Confirm.

In the "Buy" tab, select the cryptocurrency you want to buy.

For example, choose USDT from the possible options.

Specify the amount of USD you want to spend to buy the cryptocurrency.

Choose the payment type from those presented on the exchange.

According to the sorting results you should choose a merchant from which you can buy cryptocurrency.

When choosing a merchant, we recommend to be guided by the number of completed orders and their percentage, they will tell you how long the merchant has been trading on the exchange and with what success deals with them are completed.

Check the transaction limits set by the merchant and the buying rate.

After selecting a merchant, click "Buy".

Make sure the order is placed correctly, read the terms of the deal, the methods of accepted payment and click "Buy" to continue.

You can then continue your purchase.

Click "Pay Now" to proceed to the next step.

In the example we chose the payment method Payeer, transfer from the account to the service account.

Observe the time within which the payment must be completed.

Copy the number of the cryptocurrency seller's account and transfer it to the Payeer seller's account USD, as specified in the payment terms and conditions.

Complete the transfer of the amount specified in the order at the time indicated in the order and click "Payment Completed".

Confirm the payment by clicking on the confirmation checkbox and "Confirm".

Do not disregard the rules of service.

Wait for the coins to be credited and for the seller to complete the order.

If necessary, you can chat with the seller and let them know that the payment was credited.

Done! USDT are credited to your financial account balance.

Now you can withdraw USDT or use it for spot trading, for example, to buy BNB. To do this, transfer USDT to "Spot Account" by clicking on "Transfer".

Select the details of the transfer from "Funding Account" and to whom "Spot Account", specify the amount of asset and click "Confirm".

Buying BNB through spot trading to pay for gas

To buy BNB on the Bybit spot, go to "Trade" and select the pair to trade BNB/USDT.

On the "Buy" tab, select the "Market" or "Limit" order type, specify the amount of USDT you want to spend to buy BNB and tap "Buy BNB".

If you choose the "Market" order, an order to buy will be executed immediately at the market price, i.e. at the offer price at the moment of confirming the order.

If you choose the "Limit" order, you can set the price of the order, i.e. the rate at which you want to buy BNB. The order will be executed at achievement of the set rate.

Done! The order history can be found by clicking on "Orders".

Buying MDAO through spot trading

Go to the Spot section and select the Trade tab.

Select the MDAO/USDT trading pair.

Click on the ticker of the trading pair and enter the token name “MDAO” in the search, and click on the search result obtained.

On the "Buy" tab, select the "Market" or "Limit" order type, specify the amount of USDT you want to spend to buy MDAO and tap "Buy MDAO".

If you choose the "Market" order, an order to buy will be executed immediately at the market price, i.e. at the offer price at the moment of confirming the order.

If you choose the "Limit" order, you can set the price of the order, i.e. the rate at which you want to buy MDAO. The order will be executed at achievement of the set rate.

Withdrawing cryptocurrency

To withdraw MDAO (or other assets such as BNB or USDT), go to “Assets”.

In this example, MDAO in BNB Smart Chain (BEP-20) to ZAVOD Wallet (formerly known as MDAO Telegram Wallet).

After buying via spot, your assets are in the spot account, go to “Spot” and click “Transfer”.

Select the transfer details from “Spot Account” and to Funding Account, select MDAO, specify the transfer amount and click “Confirm”.

Click "Assets".

Click the “Withdraw” button.

Choose the cryptocurrency to withdraw.

Like in the example below, copy the recipient's wallet address from ZAVOD Wallet (formerly known as MDAO Telegram Wallet) in the BNB Smart Chain.

Go to the wallet and click “Launch app”, then navigate to the “Wallet” section.

Click “Deposit” and copy the address in BNB Smart Chain.

Go back to your exchange account and check that the cryptocurrency is selected correctly.

Then enter the copied address of the recipient's wallet in the BNB Smart Chain network, select the necessary network, for example, select the BSC (BEP-20) withdrawal network, and specify the withdrawal amount.

Check the entered data and click Withdraw.

Done! Wait until you receive the cryptocurrency on your wallet.