- Creating a wallet — https://polkadot.js.org/extension/
One of them recommended by many users is the Polkadot.js extension. Setting up a wallet is very easy.
Remember to keep your mnemonic seed in a safe place, as this is the only way to retrieve your wallet in the future. Then name your account and create a password for it. Now your TAO wallet is ready to use.
2. Buying TAO through the tensor.exchange
The simple exchange is based on orders to buy and sell TAO issued by users. Transactions are processed via the Bitcoin network, so if you want to buy TAO through tensor.exchange you must have BTC.
The first step is to create an account on the platform. After verifying your email address, your account is ready for TAO trading.
Select “Create Buy Order” and fill in the fields according to the example shown: the amount of TAO, price per TAO, the address of your TAO wallet and the BTC address in case of returning funds.
As soon as you find a person willing to sell TAO tokens at the bid you issued, the process of transferring the tokens to your account will begin. Remember that BTC transfers can take a long time, so be patient.
A much faster buying option would be to choose someone else’s order available on the exchange. Once you have found the right order, choose ‘Buy TAO’, enter your TAO wallet address and send the exact amount of bitcoin to the address provided. Remember to include the transfer fee.
In case of any doubts or errors related to the functioning of the platform, the user can open a “ticket” on the discord channel, and his/her problem will be quickly solved by the platform owners.
3. Buying a TAO token via the official Discord channel — TAO Community/OTC
To purchase TAO via Discord, we need to create an account, it is very simple, just register using your phone number or email.
The next step is to join the Discord channel. We must remember to accept the rules of the server, because only then will we see all the available subchannels.
As on the exchange, users list their orders that can be found in the #otc-offers subchannel.
Once we reach an agreement with the other party in private messages, a trade should be created according to the guidelines in the channel: #how-to
When both parties have confirmed that the terms of the trade are compatible, a middleperson will join the channel to ensure the security of the trade.
Remember, always trade according to the instructions on the #how-to channel. Never deal directly with anyone as you may lose your funds!
Now all you have to do is follow the middleperson’s instructions and wait for your TAO. Remember that the middlepersons take their time, and they will appreciate it when you leave them a tip.
In case of any problems, we encourage you to contact us or directly the administration. All useful links can be found below.
https://polkadot.js.org/extension/ — Polkadot wallet
https://tensor.exchange/ — Exchange
https://discord.gg/fGAnGqU2c4 — In case of any doubts or errors related to the functioning of the tensor.exchange, you can open a “ticket” on that discord channel.
https://discord.gg/FYVS7gE7ch — TAO Community/OTC Discord channel https://explorer.nakamoto.opentensor.ai/ — Bittensor network explorer