A permissionless and decentralized platform built on Ethereum, Gnosis is the easiest way to aggregate relevant information from both human and AI agents into one number.
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Notes: Images can be clicked to see a larger version.
If you're confused by any terms used, a glossary can be found here.
This guide is kept up-to-date as much as possible, but websites & software are being constantly updated- your experience may differ from what is documented.
For this guide we'll be using the easiest & most convenient wallet option for storing your Gnosis coins- provided by MyEtherWallet (which can store any coin on the Ethereum blockchain, including Gnosis).
Go to myetherwallet.com and enter a password that would be hard to guess (but which you won't forget!).
Note: if you forget this password you might lose access to your coins.
Press 'Create New Wallet'.
Click 'Download Keystore File'. Be sure to read and understand the warnings.
It's very important that you back this file up somewhere safe (think multiple external hard drives and/or USB drives that you put somewhere safe).
Once you've done that, click 'I understand. Continue.'
Now you will be given a powerful unencrypted private key to your wallet.
Note: Never give your private key to anyone. If you do, they can open your wallet and take your coins.
Consider printing out your private key and storing it somewhere safe- then deleting all references to it from your computer. Why? Because sometime in the future you might get a virus, or malware, or visit a website with an advert that has malicious code.
These things will target a private key, as it's an easy way to open your wallet and steal your coins.
So why print out your private key at all, if it's so insecure? Because it's your last resort. If you lose your keystore file (e.g. your computer gets wiped or damaged), or if you forget your password, with your unencrypted private key you can still access your account as a last resort.
There is also an option to print a paper wallet (which displays everything you'd need to access your wallet).
If you choose to print this, treat it just like the Keystore file you just downloaded- keep it hidden and keep it safe.
Next, click 'Save your address'.
Now we're going to open your new wallet.
Select the 'Keystore File' option, then upload the keystore file you saved in step 2, then enter your password.
Once you're done, scroll down the page to see your opened wallet.
You will see a long string of letters and numbers labelled 'Your Address'.
This is your personal wallet address, and it's where we're going to be sending your Gnosis coins.
Copy this address and keep it somewhere safe as we're going to need it soon.
Now we'll purchase the popular cryptocurrency Ethereum, so that we can exchange it for Gnosis (if you already own Ethereum you can skip ahead).
Choose which Ethereum exchange you'd like to use (by clicking on the logo), and the guide will continue:
If you use this link to sign up to Coinbase we'll both receive ten dollars of free coins when you spend over $100 (or the equivalent in your currency).
Press the 'sign up' button and fill out your name (make sure this is exactly how it's written on your photo ID), email and a password.
Just like a US bank, Coinbase is regulated by the US government, and has to follow strict financial rules. So they take verifying your identity very seriously. It's a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.
To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy.
Using a credit/debit card on Coinbase means higher fees but offers instant purchasing. Using a bank transfer is cheaper but slower (taking up to a week to get your coins).
Once your payment details are verified, click 'buy/sell' on the top menu.
Select 'Ethereum', and at the bottom of the page choose how much to spend in your local currency / how many coins you want to buy.
Once you're happy with the amount, click the big 'Buy' button.
You'll be asked to confirm your purchase.
Press the 'Confirm Buy' button.
Congratulations! You now own some Ethereum. But don't close Coinbase yet, we're going to need it again in a few minutes.
Click here to go to Coinmama.
In the sign up form, enter your email address and first and last name (make sure these are exactly the same as on your photo ID).
Enter a strong password (that you won't forget!).
Select your country, tick the box to show you understand their terms and conditions and press 'Register'.
You will be sent an email to confirm your email address.
Go find that email and click the link in it.
You will be informed that your email is now confirmed. Press 'Continue'.
You will be prompted to log in. Enter your email and password and press 'Login'.
You won't be able to buy any Ethereum until you verify your account.
In the left-hand menu, click 'Verify your account'.
You will be asked to fill in your personal details. Once you have, press 'Next'.
Here you need to upload some pictures of your ID.
You're also asked to take a selfie of yourself holding your ID, as well as writing 'Coinmama' on a piece of paper with today's date.
Make sure none of these pictures are blurry, or they will be rejected.
Once you've uploaded the files you'll be informed your documents are under review- unfortunately you'll have to wait until you're verified to continue your purchase.
Click here to go to Cex.io
Click the 'Register' button along the top menu.
Enter your email address and a secure password. Click the checkbox to agree to the terms.
You will now be asked to set up 2-factor authentication for your new account. It is strongly advised not to skip this step, as 2-factor authentication makes your account far more secure.
We recommend using the 'Smartphone App' option.
Once your security has been set up, you'll be taken to your account dashboard.
Before we do anything else, head on over to your personal email account- there will be an email from Cex.io asking you to click a link to verify your account. Click it.
You will be taken to a page telling you your email has been confirmed. Click 'Go back to the site'.
Look for your user ID in the top menu, hover your mouse over it and in the drop down menu click 'Verification'.
Every exchange that lets your buy cryptocurrencies for cash require you to verify your identification before doing so.
Complete the Cex.io verification process by supplying your personal information and uploading your ID.
Once you're verified, click the 'Deposit' button along the top menu.
You now get to choose how you'd like to deposit money:
Via credit/debit card
If you choose credit/debit card you can buy instantly, but you pay commission on the money you deposit.
Via bank transfer
This option takes a few days for the transfer to arrive but has no commission fees.
Choose the method you prefer and follow the instructions to deposit your money.
Once your money is in your account, click 'BUY/SELL' on the top menu.
Choose 'ETH' and the currency you'd like to buy it in (Dollars, Euros, Pounds or Rubles).
You will be offered some precalculated amounts of Ethereum, or you can scroll to the bottom of the page and input the amount of Ethereum you'd like to buy in the 'Custom amount' box.
Once you've decided, click 'Buy'.
You'll be asked to confirm your buy.
Check everything looks correct and click 'Confirm the order'.
Congratulations- you now own some Ethereum!
Note: You may notice that Livecoin allows you to buy coins directly with Dollars, Euros and Rubles. However, the charge to do so is high, which is why it's more cost efficient to buy Ethereum from Coinbase Coinmama Cex.io Local Bitcoins first and exchange that for Gnosis.
Click here to go to Livecoin, and click 'Open a trade account' on the top right menu.
Enter a username, a strong password (that you won't forget!) and your email address.
You will be informed that a confirmation code has been emailed to you.
Go to your email account and find that email. If you don't see it check your junk folder.
Paste the code from it into the box on the screen.
Your account has been successfully activated.
Log into your account using your email address and password.
You will be asked to enter a 4 number PIN code that will be used for security purposes when you withdraw coins.
Note: Changing this PIN in the future means that you won't be able to withdraw any coins for 10 days. So make it's something you're not likely to forget!
Press 'Balance' on the top menu.
Scroll down the page until you see 'CRYPTOCURRENCY BALANCE'. In the search box type 'Ethereum'.
The list of coins will narrow and you should see 'Ethereum'. Beside it, click 'DEPOSIT'.
Note: Double check you've actually selected Ethereum (ETH)- if you send your coins to the wrong wallet you will lose them.
A pop-up will present you with a list of conditions you must agree to before it will you give you a wallet address to deposit your Ethereum to.
Read them. Understand them. Once you have, tick the boxes and press 'Show address'.
Press the 'Copy' button to copy the address to your computer memory.
Now, return to Coinbase.
Click 'Accounts' from the top menu, then find your Ethereum wallet listed on the left.
In the 'Recipient' box, paste the Ethereum wallet address we just copied from Livecoin.
In amount, type how much Ethereum you wish to send (there is a 'use max' option if you wish to send it all).
Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.
Go back to Cex.io
Press 'Withdraw' on the top menu.
Under 'Select currency and amount' click 'USD' and select 'ETH' in the drop down menu.
Input the amount of Ethereum you're sending.
In the box labelled 'Enter the recipient's address below' paste the Ethereum wallet address we just copied from Livecoin.
Once you've looked everything over, click the check box to confirm you've double checked everything is correct.
You will be asked for a 2-factor authentication number.
Use your selected method of authentication to generate the number and write it in the box. Press 'Confirm'.
You will be sent an email to confirm the withdrawal.
Go to your personal email and click the link Cex.io has sent you. This will send the coins on their way.
Go back to LocalBitcoins.
You should still be in your wallet page.
In the box labelled 'Receiving Bitcoin address' paste the Ethereum wallet address we just copied from Livecoin.
Enter the amount of Bitcoin you're sending.
You will be asked to enter your password to confirm the send.
Once entered, press 'Send from wallet'.
You will be taken back to your wallet and a message will appear to confirm the Bitcoin has been sent.
Hopefully you're now verified on Coinmama, so log into your account and press 'Buy Ethereum'.
You will be presented with some buying options- you can either choose to purchase a preset amount, or at the bottom of the page enter the amount of Ethereum you want, or currency you want to convert to Ethereum.
Once you're satisfied with the amount, press the 'Buy Ethereum' button.
You will be asked to supply your Ethereum wallet address. Input the wallet address that you copied from Livecoin.
Press 'Go to payment'.
You will be asked for your credit/debit card details. Input them and press 'Pay Now'.
You may be informed that Coinmama has received your order but 'are reviewing the order and making sure you're really you.' This just means they're double checking your credit/debit card information to your personal information to be sure this is a legitimate purchase.
Once they've confirmed everything, you will be sent an email to confirm the purchase. Go to your inbox, find the email and double check it shows your correct Ethereum wallet address you copied from Livecoin. When you're happy, click the confirmation link in it.
Coinmama will now send your coins to your wallet address.
Now we've got to wait a few minutes for the coins to move across the network.
Unless there's an unusually large network backlog, the coins will take between 40 and 60 minutes to appear in your Livecoin wallet.
Close the pop-up showing your wallet address so you can see your wallet balance. The page does not automatically update so refresh it occasionally to see if the coins have arrived.
You will also get an email once the coins have been credited to your account.
While you're waiting, consider sharing this guide with your friends and followers to spread the word about Gnosis, encouraging its popularity and value to grow.
Here's some share buttons to make it easy:
Once the Ethereum shows in your 'Available' balance we're ready to trade it for Gnosis.
Click here to jump straight to the GNO/ETH exchange market on Livecoin. Be patient, it can take 10-15 seconds to fully load the page.
This page will look overwhelming at first, but don't panic as we'll only be using a small part of it.
Beneath the title 'BUY GNO FOR ETH' find the button labelled 'Switch to market order' and click it.
Beside that button is a display telling your how much ETH you have available for trade. Click it.
In the box marked 'You get', you will now see the maximum amount of GNO that you can buy using all of your ETH. If you don't want to use all of your ETH in this purchase, you can edit this number to be lower.
Once you're happy with the amount, press 'BUY GNO'.
Congrats! You now own your own Gnosis!
If you're comfortable with it, you could just leave your coins on Livecoin and they would probably be safe. However, exchanges have been hacked in the past, and people have lost coins, so we do recommend you keep them in a personal wallet. Here's how:
Note: You CANNOT store Ethereum tokens, such as Gnosis, on Coinbase. If you send your Gnosis to Coinbase you will lose them.
Click 'Balance' along the top menu.
Under 'CRYPTOCURRENCY BALANCE' find 'GNO'.
Beside it, press 'WITHDRAWAL'.
In the 'TRANSFER TO WALLET' column, in the box marked 'Account, GNO', write the amount of Gnosis you want to withdraw to your wallet.
Note: You will have to pay a fee to withdraw the coins, the amount is shown beside 'Fee'. Remember to deduct this fee from the number of coins you're withdrawing or it will fail (see the image for an example).
In the box marked 'Gnosis address' put the wallet address that you copied from MyEtherWallet (in step 5).
Press 'SEND A PAYMENT'.
You will be asked to confirm the withdrawal. Double check over the details, such as making sure you put the correct wallet address, then press 'Confirm'.
You will have been sent an email to confirm the withdrawal. Go find that email and copy the confirmation code in it, and paste it into the box marked 'Verification Code'.
Now enter the four digit code you used when you set up your Livecoin account in the 'PIN code' box.
You will be told the withdrawal is now in progress.
Go back to MyEtherWallet.
You should now see the Gnosis (abbreviated to GNO) in your wallet under 'Token Balances'.
One note of importance is that the example wallet in this guide has no Eth in it. Why is that important?
Gnosis coins exist as a token on the Ethereum network. To move Gnosis coins across that network costs 'gas', which are in the form of Ether coins. If in the future you want to move your Gnosis coins to another address, you're going to need some of those Ether coins to power the transaction.
You already know how to buy Ether, but you can use this guide if you're still unsure how to move them to your personal wallet.
What about when you're ready to sell your Gnosis?
You simply reverse the order of tasks you performed in this guide.For example, you send your Gnosis to Livecoin, exchange it for Ethereum, send that Ethereum to Coinbase Cex.io Coinmama Local Bitcoins and sell it for your preferred currency.