As a result, layer-2 scaling solutions have been developed to offset the transaction load. One of the most popular is the Optimism rollup blockchain, which bundles transactions and validates them off-chain.

Investors who know how to buy Optimism (OP) can tap into scaling solutions’ growth and huge potential. In this guide, we will explore Optimism, exchanges that allow users to purchase Optimism’s native token, and how to invest in OP crypto.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Coinbase: Simple & Easy to Use Exchange

Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.

Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.

Read: Our Full Coinbase Review Here

The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.

Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.

Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.

For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.

Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.

Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.

Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).

Pros

• Beginner-focused
• Licensed and reputable platform
• Insurance in case of hacks
• Low minimum deposit

Cons

• High fee compared to competitors
• No credit card deposits for US customers

Visit Coinbase

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What is Optimism?

Optimism is a layer-two scaling solution native to the Ethereum blockchain. The tool makes it easy for developers to build on Ethereum while avoiding scalability problems.

To understand Optimism, it is also important to examine Ethereum. Arguably the most popular blockchain, Ethereum has become a hub for decentralised application (dApp) developers looking to build across multiple fields – from NFTs to decentralised finance (DeFi) to blockchain gaming.

However, with this popularity also comes an issue. The influx of developers and apps has made Ethereum unscalable, with transaction fees rising and latency becoming a more prominent issue. This has led to the rise of alternative blockchains like Solana and Avalanche, many of which have higher performance metrics and can handle even more transactions per second than Ethereum.

Looking to solve this problem, the Ethereum Foundation is working on Ethereum 2.0 – an upgrade to the blockchain that will see it shift to proof-of-stake and introduce concepts like sharding to improve scalability. In the meantime, layer-two blockchain protocols have also been launched. These protocols are essentially blockchains that work on the Ethereum mainnet.

Optimism is one such protocol. Built on the Ethereum blockchain, Optimism is powered by Optimistic rollups – a technology that bundles large amounts of transaction data into small batches. Optimism handles transactions on its system as a layer-two chain, while transactional data gets posted to the Ethereum mainnet for validation.

Optimism launched its OP token in May 2020 after moving into a fully decentralised working module. The token gives holders the right to participate in The Optimism Collective – a two-tier governance system that houses the Citizens’ House and the Token House. The Citizens’ House governs most public funding decisions, while the Token House handles technical decisions related to Optimism. OP holders vote in both houses, making the token highly functional.

Optimism Wallets

Digital asset storage is as important as investing in digital assets. To store digital assets, crypto investors use crypto wallets. However, selecting one out of the multiple available options largely depends on the user’s needs and portfolio size.

Below, we briefly explain the types of crypto wallets and their use cases:

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Best Optimism Wallet

Users often wonder what the best crypto wallet is for storing their digital assets. This is largely a subjective issue. Depending on an investor’s unique needs, they can pick any option that suits them.

However, our top pick for storing digital assets is the Binance Wallet. The platform is a crypto wallet solution from the world’s largest crypto exchange by trading volume.

Binance Wallet has impressive features, including support for 600+ coins and direct access to the burgeoning Binance ecosystem while storing assets using state-of-the-art security processes. This includes two-factor authentication (2FA), backup recovery phrase, and address whitelisting.

For convenience,  Binance Wallet is a great choice as users can easily complete crypto transactions within seconds as against using a hardware wallet.

How To Buy Optimism

After exploring where to buy and the coin’s use cases, the next thing is to explore how to buy it for your portfolio. Binance is our recommended exchange, so we'll explore how to purchase the asset using Binance.

Step 1: Sign Up

Go to the Binance home page and click on “Register”.

Binance allows investors to register using their mobile phone, email address, or Google account. Most users choose the first two options and provide their phone numbers, emails, and desired passwords. A link will be sent to their registration channel of choice, and investors can click on it to authenticate their accounts.

Step 2: Verify Your Identity

Like many other regulated brokers, Binance requires that investors verify their identity before commencing their purchase.

To complete the process, visit the “Identification” tab. Investors will have to share personal information, their proof of residence, and a government-verified means of identification. This process should take no more than a few minutes to complete.

Step 3: Deposit Your Funds

Next, investors will have to deposit into their Binance wallets. The exchange makes deposits possible using payment processors, wire transfers, bank deposits, and direct crypto transfers. And its required minimum deposit is $10.

To make a deposit, go to the “Payment” section and click “Add a new payment method” to enter payment details. Alternatively, investors can click the “Buy Crypto” button to select a payment method and complete their transfer.

Step 4: Buy

With a funded wallet, investors are ready to make a your purchase. Head to the “Buy Crypto” section and enter the desired amount. Click on “Continue” after reviewing the terms, and the wallet should be updated immediately.

Conclusion

Ethereum scaling solutions are becoming increasingly important due to the role they play in relieving the PoW network’s transaction load. They are fast, low-cost, and more user-centric than Ethereum. In a highly competitive space, Optimism stands head-over-shoulders among its peers and is the most popular scaling solution only behind Polygon.

Binance remains our top choice to buy Optimism OP. The platform offers the lowest trading fee in the industry at 0.1% and offers huge crypto liquidity. It also comes with advanced trading tools and derivatives trading suited for advanced traders.

Optimism OP FAQs

Where can I buy Optimism?

Traders can buy Optimism from the Binance platform. You can easily sign up for an individualized account on the Binance website, upload a copy of their driver’s license or official passport, and deposit a stipulated minimum of $10 to buy the OP token.

Does Optimism have a token?

Yes, Optimism has a utility token that powers most of its operations. The digital asset is utilized for voting on network proposals, staking, and network fees.

How do I invest in Optimism?

Investors can easily open a new trading account on any of our reviewed crypto brokers, verify their accounts, and deposit a stipulated minimum to buy OP.

How high can Optimism coin go?

Given that crypto assets are volatile by nature, this is largely unknown. However, the digital asset has made a strong showing this year. It surged to $4.57 in May. With crypto and DeFi adoption rising, the digital asset may rise with the broader crypto market.

The post Where to Buy Optimism OP Crypto: Complete Guide appeared first on Blockonomi.

In this guide, we will explore the Oasis network, exchanges that offer trading support for ROSE, and how to buy the ROSE token with low fees.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Coinbase: Simple & Easy to Use Exchange

Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.

Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.

Read: Our Full Coinbase Review Here

The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.

Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.

Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.

For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.

Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.

Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.

Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).

Pros

• Beginner-focused
• Licensed and reputable platform
• Insurance in case of hacks
• Low minimum deposit

Cons

• High fee compared to competitors
• No credit card deposits for US customers

Visit Coinbase

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Bitfinex: A Trusted Exchange

Based in Hong Kong, Bitfinex is owned and operated by iFinex Inc - a financial services company that also owns Tether Limited, the issuer of the USDT stablecoin. The broker is popular for having one of the most liquid order books in the market, ensuring that users looking to buy and sell crypto have no trouble getting it done.

Like many other top brokers, Bitfinex offers a versatile platform for anyone looking to enter the crypto market. Investors can buy and trade crypto, stake cryptocurrencies, and lend their coins to earn returns.

Read: Our Full Bitfinex Review Here

Ease of use is impressive on Bitfinex, with the broker combining an intuitive platform with a low deposit threshold. Deposits on Bitfinex can be made through direct crypto transfers, wire transfers, and card payments. Card payments are processed through a third party, so investors might have to pay more fees.

Besides its trading interface, Bitfinex provides easy access to services like margin trading, derivatives offerings, and lending. Investors looking to make high-volume purchases can use Bitfinex’s OTC trading service, while those looking for low-risk gains can use the broker’s staking protocol.

Bitfinex uses a maker-taker fee structure for its trades. The fees range between 0% and 0.2%, with fees reducing as investors' order volumes increase. Also, the exchange doesn’t charge any fees for large orders through its OTC desk. Bank wires incur a 0.1% fee for deposits and withdrawals - although expedited withdrawals carry a charge of 1%. Crypto withdrawals incur a small fee, depending on the coin being withdrawn.

The exchange protects user funds and data using 2FA, advanced API key permissions, and the storage of 99% of funds in cold storage.

Pros

• Easy-to-use interface
• Impressive staking protocol for PoS coins
• Highly liquid order book
• High leverage for derivatives trading
• Unlimited withdrawals

Cons

• Higher costs for card transactions

Visit Bitfinex

What is Oasis (ROSE)?

Launched in 2018, Oasis is a new-generation blockchain focused on preserving privacy and user confidentiality.

With blockchains becoming more traceable, many industry purists have criticised the lack of privacy in the market. The Oasis Network offers a solution by providing a privacy-centric blockchain that will support a decentralised data economy and seamless open finance. At the same time, Oasis is also looking to be a hub that allows developers to build scalable decentralised applications (dApps).

The Oasis Network is built on the Cosmos Software Development Kit (SKD). This means that it will eventually be able to connect to the broader ecosystem of Cosmos-based blockchains once the latter’s Inter Blockchain Communication (IBC) protocol launches.

The network’s privacy features create a new type of asset called “tokenised data”, allowing users to control the data they generate and earn staking rewards for ROSE – Oasis’ network token. By supporting the functionality of confidential smart contracts, Oasis ensures that data is kept private while transactions are being processed.

ROSE is the native token for the Oasis Network. It launched in November 2020. The crypto asset helps to process transaction fees on the network. It can also be used for delegation on Oasis’ consensus layer and staking by validator nodes on the platform.

Oasis (ROSE) Wallets

Storing your crypto asset is as important as investing in it. Since they are digital assets, your choice of storage is quite streamlined to only a few. Below, we review the most popular crypto wallets available and the best ones to use.

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Our recommended top crypto wallet to store the ROSE crypto is Binance Wallet. The digital wallet allows the storage of well over 600 coins and is user-friendly by design. Users can send and receive coins from friends, colleagues, and customers for services rendered.

Another impressive feature of the Binance wallet is the low fees investors can enjoy when holding the Binance Coin (BNB) token. Users also access Binance’s services and apps for digital asset browsing and purchases.

Binance Wallet is also secure. It offers two-factor authentications, a 12-word backup recovery phrase, and address whitelisting.

How To Buy Oasis ROSE

Let’s consider how to buy Oasis (ROSE). Binance is our top exchange, so follow these steps to complete a ROSE purchase on Binance:

After exploring where to buy and the coin’s use cases, the next thing is to explore how to buy it for your portfolio. Binance is our recommended exchange, so we'll explore how to purchase the asset using Binance.

Step 1: Sign Up

Go to the Binance home page and click on “Register”.

Binance allows investors to register using their mobile phone, email address, or Google account. Most users choose the first two options and provide their phone numbers, emails, and desired passwords. A link will be sent to their registration channel of choice, and investors can click on it to authenticate their accounts.

Step 2: Verify Your Identity

Like many other regulated brokers, Binance requires that investors verify their identity before commencing their purchase.

To complete the process, visit the “Identification” tab. Investors will have to share personal information, their proof of residence, and a government-verified means of identification. This process should take no more than a few minutes to complete.

Step 3: Deposit Your Funds

Next, investors will have to deposit into their Binance wallets. The exchange makes deposits possible using payment processors, wire transfers, bank deposits, and direct crypto transfers. And its required minimum deposit is $10.

To make a deposit, go to the “Payment” section and click “Add a new payment method” to enter payment details. Alternatively, investors can click the “Buy Crypto” button to select a payment method and complete their transfer.

Step 4: Buy

With a funded wallet, investors are ready to make a your purchase. Head to the “Buy Crypto” section and enter the desired amount. Click on “Continue” after reviewing the terms, and the wallet should be updated immediately.

Buy ROSE

Once your wallet is funded, you can proceed to buy Oasis (ROSE). Go to the “Buy Crypto” section and enter the desired purchase amount. Review the terms of the purchase and click on “Continue”.

Conclusion

The Oasis network is one of the leading solutions in Web3. It seeks to create a robust, powerful, and user-friendly platform where Web3 services can be accessed easily.

In this guide, we have extensively reviewed the best platforms for users to trade ROSE crypto and provided steps on how to buy Oasis (ROSE). Our top pick is Binance due to its deep liquidity, low fees, powerful trading tools, and strong security.

Oasis ROSE FAQs

How do I invest in Oasis Labs?

Investors can easily buy the ROSE token to invest in Oasis Labs. To buy the coin, they are to create a free account on our top recommended platform and fund their account with a minimum of $10.

How do you get a Rose Oasis?

Traders can purchase a ROSE coin from one of our top platform picks. They can do this in four steps: sign up for a free account, verify their ID, make the minimum investment, and buy ROSE crypto.

Is Oasis network a good buy?

Yes, the Oasis network is one of the new generation protocols working on the mass adoption of a decentralised economy. Given its focus on data privacy and user confidentiality, the protocol allows users to retain full control of their finances and investments without any oversight. Coupled with the low cost of transacting on the platform and its high throughput, this makes it a good investment choice for new and advanced investors.

How do you buy crypto $Rose?

Investors can easily buy $ROSE on BInance. Register for an individual account, verify an ID with either a driver’s license or official passport, deposit a minimum of $10, and buy $ROSE.

The post Where to Buy Oasis Network (ROSE) Crypto: Complete Guide appeared first on Blockonomi.

Even though Terra blockchain has since been renamed Terra Classic, investors remain enthusiastic about the protocol’s vision. This guide will explore how to buy Terra Classic and how the project maintains price and censorship stability.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What Is Terra Classic? 

Terra Classic is a blockchain protocol founded in 2018 by Daniel Shin and Do Kwon of Terraform Labs. The project aimed to speed up the adoption of blockchain technology and cryptocurrency by addressing volatility.

To achieve this price stability vision, the Terraform Labs team launched UST, the industry’s first algorithmic stablecoin. Other algorithmic stablecoins created include the South Korean Won, Mongolian Turik, and the International Monetary Fund’s Special Drawing Rights (SDR).

UST was designed to be pegged, one-to-one, to the US dollar. The Terra blockchain also created the infamous network token, LUNA, to keep its peg. When UST prices fall below one dollar, a certain amount of LUNA is minted to ensure it repegs.

The Avalanche of Troubles

Terra’s innovative price stability mantra could only last so long….

Everything came down to TerraUSD, an algorithmic stablecoin (UST). Because there is no physical fiat reserve backing UST, it is unlike any other stablecoin on the market.

To maintain its stability, it relies on arbitrage mechanisms. When it depegs or loses its dollar valuation, a certain amount of its LUNA token is sold, resulting in a demand contraction for the UST peg.

The blockchain began to fall in May 2021, when the UST stablecoin’s value dropped from $1 to $0.96 in a one-week period, providing traders with a lucrative arbitrage opportunity.

Terraform Labs launched the Luna Foundation Guard to prevent a future occurrence (LFG). As a reserve for its UST stablecoin, LFG purchased a then-record amount of $3.5 billion in Bitcoin and the AVAX token.

However, during the May 2022 bear market, the UST token and LUNA fell significantly.

After learning that its yield-generating protocol, Anchor, was reversing its promised 20% annual percentage yield (APY), UST depegged from $1. To stanch the fall, billions of LUNA tokens were minted, resulting in hyperinflation and market saturation. Furthermore, the LFG liquidated all of its crypto holdings, precipitating a much steeper decline in the emerging industry.

Terra blockchain decided to create a hardfork similar to the infamous Ethereum split due to the shortfall. Terra 2.0 would be the name of the new smart contract network, while Terra Classic and Luna Classic would be the names of the failed experiments.

Use Cases

Does Terra Classic’s tumultuous history make it any less useful? Absolutely not. Terra Classic maintains its position as a smart contract network while also resisting censorship. Developers can use it to create decentralised applications (dApps) to meet the market’s rising demand.

While its stablecoin is nowhere near its $1 peg, the LUNC remains one of the market’s most well-known cryptocurrencies.

The native token still has a market cap of more than $3 billion.

Partnerships

Terra Classic was once a cryptocurrency darling. Several traditional tech companies and crypto companies were collaborating on projects.

Terra announced a partnership with Chia, a South Korean mobile payments company, in July 2019. In the same year, Terra announced that its Terra Alliance group of companies was working to seize a significant share of the rapidly expanding cryptocurrency market. The alliance included ten major corporations with a combined net worth of $25 billion.

How Does Terra Classic Work?

Terra Classic is not different from its split second. It is primarily a smart contract network platform that serves as a testing ground for dApps and other decentralised ecosystems.

How do its stablecoin and native token interact with one another? As previously stated, TerraUSD is an algorithmic stablecoin that requires a secondary token to keep its peg. This is accomplished by minting and burning LUNA tokens using arbitrage mechanisms.

To purchase one UST, an investor must mint it, and the purchase rate is then added to the LUNA token. The Terra Classic blockchain then burns or permanently removes the addition from circulation. This repeated burning of LUNA reduces the amount of it available on the open market, causing its price to rise.

To purchase or mint LUNA, a user must first convert the UST stablecoin. This creates a counter-balance for both digital assets.

Arbitrageurs, or traders who profit from small price changes, are essential to the Terra Classic network’s operation. They ensure that the equilibrium is maintained. If the price of UST falls below $1, they sell LUNA for the stablecoin, and if it rises above $1, they buy UST for LUNA. They introduce a kind of forced scarcity of cryptocurrencies by doing so.

Is Terra Classic a Good Investment?

So much has happened in the Terra ecosystem. Is Terra Classic still a good buy?

Code is law

The current standoff between Terra Classic and Terra blockchain is reminiscent of the 2016 Ethereum split. Since then, a few die-hard code maximalists have kept the Ethereum Classic running; it still commands a significant percentage of the crypto market.

Investing in Terra Classic may be a viable way for users who believe in the code’s supremacy to ensure its continued survival.

Potential Supply Reduction

Since the debacle in May 2022, the Terra Classic community has not been idle. While Do Kwon has left Terra Classic to focus on Terra 2.0, the Terra Classic community has remained strong.

There is a growing belief that Terra Classic’s LUNC will reclaim some of its former glory. This comes in response to a community proposal submitted on September 1. The author advocates for a 1.2% tax parameter change in it.

The plan is to reduce the number of LUNC tokens in circulation to create a supply crunch and increase the token’s value. If this passes the community vote, investors may be in possession of a crypto gem.

How to Buy Terra Classic on eToro

We recommend that traders invest in Terra Classic through the eToro platform. Why? The multi-asset brokerage firm has a communal nature. eToro was founded in 2007 to promote investment in stocks, bonds, commodities, FX currency pairs, and various other assets.

Since then, the broker has shifted its focus to the crypto space, commanding a sizable library of 75+ cryptocurrencies.

Its social climate has helped it become one of the top destinations for its 23.3 million users. Because eToro is a social trading platform, investors can communicate, interact, and learn from one another. CopyTrader is also available on eToro. This means that users can mimic their counterparts’ trading strategies and positions while only paying a small fee. This enables inexperienced investors to learn about the underlying asset and financial market while still making a reasonable profit.

eToro also has a CopyPortfolio feature. This allows users to spread their investments among top-performing companies. This feature automatically balances the investor’s investment portfolio.

eToro has one of the lowest fees in the crypto space, charging users only a 1% bid-ask spread. All of its payment channels have no deposit fees. On the other hand, withdrawals are charged $5 across all payment methods.

eToro offers the well-known two-factor authentication (2FA) and masking technology to protect users’ funds. The Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC), and the Financial Industry Regulatory Authority (FINRA) all regulate eToro.

Because Binance has announced the discontinuation of the Shuttle Bridge between the Ethereum network and the Binance Smart Chain (BSC), only a few exchanges support the LUNC token. As a result, eToro is a viable option for those interested in investing in LUNC.

Traders seeking how to buy Terra Classic can follow these detailed steps to purchase Terra Classic on eToro:

Register on eToro

First, open an eToro account. Go to the official eToro website and click the ‘Start Investing’ button on the homepage. Insert the necessary information: full name, email address, and password.

eToro allows users to sign up using their Google, Apple, or Facebook accounts for a more streamlined sign-up process.

Verify ID

Because eToro is regulated, all new accounts must verify their identity before trading on the platform. To verify, tap the profile icon and select ‘Verify’. Submit or upload a copy of a recent driver’s license that includes the full name as it appears on the eToro platform, or upload an official passport. A document containing a residential address should also be uploaded. This can be a bank statement or a recent utility bill that includes the address. This is referred to as proof of address.

Deposit

The following step is to fund the new eToro account. Tap the action tab and select ‘Deposit Funds’ from the list of functions. Then, choose a payment method. eToro does not charge fees for deposits made through any of its payment channels, and users can fund their accounts via bank wire transfer, credit/debit cards, PayPal, Skrill, Neteller, and various other methods.

Enter the amount to invest. eToro has a regional minimum deposit requirement. eToro allows investors in the United States and the United Kingdom to get started with as little as $20.

Buy Terra Classic

The last step is to buy Terra Classic. The quickest way is to type ‘LUNC’ into the search bar at the top of the dashboard and click on the appropriate result.

Tap ‘Trade’ in the upper right-hand corner and enter the amount of the token to buy. Then, click ‘Open Trade’ to finish the process.

Conclusion

Terra Classic remains one of the top crypto dogs despite its historical decline. Investors who are code maximalists can still buy Terra Classic to preserve its code base. Investors looking for an undervalued crypto gem can also buy the asset.

We recommend that investors seeking how to buy Terra Classic use eToro. The social trading platform provides mirror trading capabilities, allowing investors to mimic the trades of more experienced traders. The CopyPortfolio functionality, which automatically diversifies one’s investment, is even more unique. With a competitive trading fee of 1% and a zero deposit fee structure, eToro is a popular choice for many.

Luna Classic FAQs

Where can I buy Terra Crypto?

Terra crypto is available on several cryptocurrency exchanges. Binance, Coinbase, and eToro are some popular examples. To get started, newly opened accounts must verify their ID and fund with the stipulated minimum amount.

Can you buy Terra Classic on Binance?

Binance accepts LUNC purchases on its platform. However, investors who rely on the Shuttle Bridge can no longer access Terra Classic on Binance.

Can I buy Luna on Coinbase?

Yes, the Terra 2.0 token, LUNA, is available to trade on Coinbase. New users need to verify their Coinbase account by uploading either a driver’s license or a government-issued ID card. A small minimum deposit of $2 is required to get started on the Coinbase platform.

How do I get LUNC Crypto?

Investors must create a new account on the chosen platform. Then they must verify their driver’s license or official passport and fund their account with a predetermined amount. After that, investors can trade the LUNC cryptocurrency.

The post Where to Buy Terra Classic (LUNC) Crypto: Beginner’s Guide appeared first on Blockonomi.

There are many options for investors who want to buy Axie Infinity and partake in this exciting play-to-earn gaming platform. This beginner’s guide explores how to buy Axie Infinity in minutes, and why this vibrant and ever-growing ecosystem is such a big deal.

Best Platforms to Buy Axie Infinity

This section considers the best places to buy Axie Infinity’s native token (AXS) in minutes. Our review is based on hundreds of hours of platform research. We considered the platform’s fees, setup, supported payment options and security architecture in our study. Here’s our detailed review of the best cryptocurrency exchanges to buy Axie Infinity

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Coinbase: Simple & Easy to Use Exchange

Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.

Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.

Read: Our Full Coinbase Review Here

The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.

Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.

Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.

For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.

Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.

Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.

Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).

Pros

• Beginner-focused
• Licensed and reputable platform
• Insurance in case of hacks
• Low minimum deposit

Cons

• High fee compared to competitors
• No credit card deposits for US customers

Visit Coinbase

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What Is Axie Infinity?

Axies are non-fungible tokens (NFTs) and come with different traits and capabilities. Across the Axie Infinity ecosystem, there are over 500 different body forms Axies can take, including aquatic, beast, bird, bug, ant, and reptiles.

The body forms are further grouped into four rarity classes: common, rare, ultra rare, and legendary. The more rare an Axie’s form is, the more value they command. Meanwhile, the value for each Axie is determined subjectively because NFTs are virtual assets with no real-world value.

To develop or upgrade their digital pets, players can buy, breed, or battle in a 3 versus 3 battle with computer-controlled teams or other players across the internet. The winning side gets experience points (XPs) which can be used to upgrade the body parts of their digital pets.

Axie Infinity has become a global sensation largely due to the boom in cryptographically unique tokens in the past year. The digital collectible landscape became prominent in step with the broader crypto market.

Players in the Axie Infinity open-world gameplay can retain partial ownership of their Axies and trade them in the Axie Marketplace for fiat.

Getting started on Axie Infinity requires a substantial amount of investment. The game requires minimum ownership of three Axies, which can cost between $600 to $1000 in current value. Due to the high cost of playing the game, the Axie Infinity team launched game guilds to help owners of Axies rent their digital pets in return for a profit cut.

Axie Infinity has become the face of the new generation of gaming. Its players are rewarded for spending time on the platform, that is ‘play-to-earn’. The blockchain game hit a remarkable high of 2.5 million monthly users, with NFT sales of over $10 billion in late 2021.

Axie Infinity is powered by the AXS token, which is used for staking, governance, and speculation. The staking feature will allow users to earn more AXS tokens in return for securing the Ronin sidechain, which works with the larger Ethereum network. The governance function enables AXS holders to vote on the network’s proposals and updates.

A secondary token on Axie Infinity is the smooth love portion (SLP), which can be exchanged for fiat.

Axie Infinity Wallets

Crypto assets need to be properly stored to prevent theft. Blockchain-facing companies have developed specialised virtual and physical devices to ensure that virtual funds are inaccessible to malicious parties.

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

How to Buy Axie Infinity

Axie Infinity has proven to be a record success. Wondering how to buy AXS? Our top platform to buy Axie Infinity is social trading leader eToro.

The crypto exchange offers deep liquidity, competitive fees, and copy trading functionality. To get started in as little as 10 minutes, follow these detailed steps:

This broker offers low fees, high liquidity, a wide range of crypto offerings, top-notch security, and in-built wallet functionality. To get started seamlessly, follow these detailed steps:

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

1. Sign Up

Visit eToro and click on the ‘Start Investing’ visible in the middle of the home page. This will redirect the investor to a registration page where they must enter a username, email address, and a strong password.

They can skip this process and sign up by connecting to a Google or Facebook account.

2. Verify ID

As a regulated broker, eToro requires that investors complete a know-your-customer (KYC) process on eToro. This process enables them to unlock this broker's full trading features and functionalities. To get started, click on the newly created profile icon and proceed to select the ‘Verification’ icon. Once done, upload a valid ID card. This could be in the form of a driver’s license or any government-issued identity card.

Investors will also be asked to submit a recent utility bill or bank statement to validate their addresses.

3. Deposit Funds

Once the verification process is complete, investors can proceed to initiate a deposit on their newly created eToro account. Click on the action tab, select ‘Deposit Funds’, choose a payment channel, and input the investment amount.

Investors in the UK and US can invest with a minimum deposit of $10 with cards and a minimum deposit of $500 for bank transfers. Once done, tap on the ‘Deposit’ icon to place an order.

4. Buy Axie Infinity

The final step is to buy the AXS token. Type ‘AXS’ into the search bar and click on the relevant popup result.

Tap on ‘Trade’ to open up the order page and insert how much AXS coins are to be purchased. Then, click on ‘Open Trade’ to complete the purchase.

Conclusion

The Axie Infinity gaming platform has huge potential. Users have an opportunity to generate income while having fun in a fantasy world. Axie Infinity continues to provide great investment offerings to all players. Want to get started? we recommend eToro.

eToro is the best place for investors wondering how to buy Axie Infinity. The social trading platform has low fees, a beginner-friendly interface, and deep liquidity on Axie Infinity trades.

The post Where to Buy Axie Infinity (AXS) Crypto: Complete Guide appeared first on Blockonomi.

Investors are looking to learn how to buy Avalanche’s utility token, AVAX, to gain from its high throughput and low fees.

Interested in this ground-breaking solution? This review should come in handy. We consider the layer-0 blockchain solution and the best platform to buy the token.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Coinbase: Simple & Easy to Use Exchange

Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.

Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.

Read: Our Full Coinbase Review Here

The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.

Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.

Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.

For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.

Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.

Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.

Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).

Pros

• Beginner-focused
• Licensed and reputable platform
• Insurance in case of hacks
• Low minimum deposit

Cons

• High fee compared to competitors
• No credit card deposits for US customers

Visit Coinbase

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What Is Avalanche?

Avalanche (AVAX) is a multi-chain smart contract designed to operate as a secured, globally distributed decentralised network.

The Avalanche ecosystem has been compared to the Ethereum network. However, it has an upper advantage because it is compatible with Ethereum. Three blockchains power avalanche to create an interoperable, trustless network that allows developers to build upon it seamlessly.

Like many other blockchains, Avalanche supports the creation and operation of decentralised applications (dApps). Its smart contracts are written in the same Solidity programming language that was used to write Ethereum’s smart contracts. As a result, Avalanche can create easier interoperability with Ethereum – as seen in decentralised finance (DeFi) protocols, like Curve Finance and Aave, that operate seamlessly across Avalanche and Ethereum.

How Avalanche Works

Avalanche ecosystem supports three in-built blockchains that process different tasks. Here are the blockchains and how they power the Avalanche ecosystem:

• Exchange Chain (X-Chain) – Exchange chain is a decentralised platform that enables the creation, minting, and trading of digital assets. These assets could be stablecoins, utility tokens, non-fungible tokens (NFTs), and crypto assets. Avalanche’s native token, AVAX, pays all transaction fees on the X-chain.
• Platform Chain (P-Chain) – Platform Chain is responsible for all network utilities. It is a metadata platform that controls Avalanche’s validators and tracks and facilitates the creation of new subnets. These subnets allow network developers to create their blockchains easily.
• Contract Chain (C-Chain) – Contract blockchain uses the Ethereum Virtual Machine (EVM), powered by Avalanche, to simplify the conversion of Ethereum decentralised application (Dapp) developers. Users can migrate their Dapps to the Contract Chain. It also supports popular Ethereum features like MetaMask, Remix, Truffle Suite, Embark Platform, and Web3.

Transactions on the Avalanche ecosystem are validated via the Avalanche consensus protocol, which integrates a delegated proof-of-stake (DPoS) system. Validators on the network secure and approve transactions. The DPoS network is much faster when compared to proof-of-stake or proof-of-work networks, and this is due to their smaller consensus requirements. The Avalanche network can contain millions of validators all participating in the network, providing layers of decentralisation.

Avalanche consensus

For a blockchain to effectively validate transactions, it needs to adopt a consensus mechanism. Avalanche uses a novel consensus module built on the foundation of proof-of-stake (PoS). Whenever a transaction is processed, a validator node receives it and runs a quick sample of other validators, looking for agreement.

In this way, the original validator sends out a message to other validators, who in turn send the same message to other validators – and on and on until the entire network can reach a consensus.

AVAX Coin

AVAX is the utility token powering the Avalanche ecosystem. Users receive benefits and pay fees using this token. AVAX is also a speculative investment option as it can be used to generate passive income via staking.

This crypto asset basically powers all operations on the Avalanche blockchain. This cuts across all dapps working on it. Over 350 projects are deployed on the Avalanche ecosystem, and more are expected in the future. The more projects and integrations there are, the more valuable AVAX gets. Currently trading at $23.80, investors can be excited about the future of this token.

What Can You Do With Avalanche?

Avalanche was created to solve multiple issues in most blockchain networks today. It eradicates centralisation by providing a trusted, viable alternative network like Ethereum.

Since Avalanche is scalable, it can rapidly process transactions on par with payment processors like VISA and PayPal. The blockchain can process about 6,500 transactions per second (TPS).

Regarding cost, Gas fees on the Avalanche network are leased and more affordable than other blockchains like Ethereum.

Avalanche Wallets

As important as learning how to buy Avalanche is, it is also crucial to learn how to store Avalanche and the type of wallet to employ. A crypto wallet enables investors to receive, send, store, and secure their crypto and digital assets. However, they differ in type.

Here are the different types of wallet available to store your AVAX

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Best Wallet for Avalanche

For investors who want custodianship and peak security, the eToro money wallet is the best option. This wallet offers a user-friendly interface that appeals to both beginners and well-experienced investors, as well as control and sign-off transactions on behalf of users.

Apart from security, eToro offers many services, including an in-built crypto exchange, real-time crypto market access for converting crypto assets to other assets without sending tokens to other wallets, and an advanced signature mechanism to keep the tokens safe 24/7.

Existing eToro users can access the eToro money wallet with the same login details used on the main platform.

How To Buy The Avalanche On eToro

Avalanche has proven to be very scalable and has the potential to take a great amount of market share in blockchains that provide decentralised finance apps. Want to buy AVAX? eToro is the best overall platform to buy Avalanche in less than 10 minutes.

This broker offers low fees, high liquidity, a wide range of crypto offerings, top-notch security, and in-built wallet functionality. To get started seamlessly, follow these detailed steps:

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

1. Sign Up

Visit eToro and click on the ‘Start Investing’ visible in the middle of the home page. This will redirect the investor to a registration page where they must enter a username, email address, and a strong password.

They can skip this process and sign up by connecting to a Google or Facebook account.

2. Verify ID

As a regulated broker, eToro requires that investors complete a know-your-customer (KYC) process on eToro. This process enables them to unlock this broker's full trading features and functionalities. To get started, click on the newly created profile icon and proceed to select the ‘Verification’ icon. Once done, upload a valid ID card. This could be in the form of a driver’s license or any government-issued identity card.

Investors will also be asked to submit a recent utility bill or bank statement to validate their addresses.

3. Deposit Funds

Once the verification process is complete, investors can proceed to initiate a deposit on their newly created eToro account. Click on the action tab, select ‘Deposit Funds’, choose a payment channel, and input the investment amount.

Investors in the UK and US can invest with a minimum deposit of $10 with cards and a minimum deposit of $500 for bank transfers. Once done, tap on the ‘Deposit’ icon to place an order.

Buy AVAX

This is the final step to buy AVAX on eToro. Locate the search bar on top of the page, type ‘AVAX’, and click on the pop-up result. Proceed to click on ‘Trade’ to open an order page and input how many AVAX tokens to purchase. Click on ‘Open Trade’ to complete the purchase.

Conclusion

Avalanche is one of the new generations of protocols making waves. Because it is the fastest protocol by time-to-finality, top crypto investors are adding the AVAX token to their portfolio to tap into the platform’s benefits.

In this guide, we explained how to buy the Avalanche token on our number one recommended platform, eToro. The crypto broker operates as a social network, allowing investors to trade, learn and interact with one another. It also has a user-friendly interface, competitive fees, and CopyTrader and CopyPortfolio for optimised user profit-making.

Avalanche AVAX FAQs

Where can I buy Avalanche cryptocurrency?

Avalanche is one of the top projects in the crypto space, and its token, AVAX, is easily accessible on several platforms. However, our recommended exchange is social trading leader, eToro. The exchange offers low trading fees and high liquidity and is quite intuitive.

Is Avalanche on Coinbase?

Yes, users can easily buy Avalanche’s utility token on Coinbase. To buy AVAX and other digital assets on Coinbase, investors have to register, verify their ID, and deposit a minimum of $2.

Where can I buy AVAX in USA?

Investors in the US can easily buy AVAX from several platforms, including eToro, Binance.US, and Coinbase. However, we recommend that investors in the US employ eToro for their crypto trading needs.

Can you buy Avalanche on Binance?

Of course! Investors can buy AVAX on Binance and its subsidiary exchange, Binance.US. The platform offers low fees, high liquidity, and advanced trading tools.

The post Where to Buy Avalanche AVAX Crypto: Complete Guide appeared first on Blockonomi.

As a result, Ethereum has moved from being a highly carbon-intensive platform into a clean proof-of-stake (POS) network. While many developers have welcomed the shift, some believe that proof-of-work (PoW) is a more secure platform. This led to the creation of the Ethereum Proof-of-Work, otherwise known as Ethereum PoW.

This article discusses what the Ethereum POW is and where and how to buy the ETHW crypto token.

Kraken: Top Crypto Platform with High Liquidity

Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.

The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.

Read: Our Full Kraken Review Here

Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.

Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform

Pros

• Dedicated service for institutions
• Great for beginners to use
• High trading liquidity

Cons

• The lengthy ID verification process

Visit Kraken

Bitfinex: A Trusted Exchange

Based in Hong Kong, Bitfinex is owned and operated by iFinex Inc - a financial services company that also owns Tether Limited, the issuer of the USDT stablecoin. The broker is popular for having one of the most liquid order books in the market, ensuring that users looking to buy and sell crypto have no trouble getting it done.

Like many other top brokers, Bitfinex offers a versatile platform for anyone looking to enter the crypto market. Investors can buy and trade crypto, stake cryptocurrencies, and lend their coins to earn returns.

Read: Our Full Bitfinex Review Here

Ease of use is impressive on Bitfinex, with the broker combining an intuitive platform with a low deposit threshold. Deposits on Bitfinex can be made through direct crypto transfers, wire transfers, and card payments. Card payments are processed through a third party, so investors might have to pay more fees.

Besides its trading interface, Bitfinex provides easy access to services like margin trading, derivatives offerings, and lending. Investors looking to make high-volume purchases can use Bitfinex’s OTC trading service, while those looking for low-risk gains can use the broker’s staking protocol.

Bitfinex uses a maker-taker fee structure for its trades. The fees range between 0% and 0.2%, with fees reducing as investors' order volumes increase. Also, the exchange doesn’t charge any fees for large orders through its OTC desk. Bank wires incur a 0.1% fee for deposits and withdrawals - although expedited withdrawals carry a charge of 1%. Crypto withdrawals incur a small fee, depending on the coin being withdrawn.

The exchange protects user funds and data using 2FA, advanced API key permissions, and the storage of 99% of funds in cold storage.

Pros

• Easy-to-use interface
• Impressive staking protocol for PoS coins
• Highly liquid order book
• High leverage for derivatives trading
• Unlimited withdrawals

Cons

• Higher costs for card transactions

Visit Bitfinex

What is EthereumPoW (ETHW)?

EthereumPoW is a clone of the proof-of-work (PoW) blockchain used by the Ethereum network before the switch to a proof-of-stake (PoS) consensus algorithm.

The platform preserves the functionality of the Ethereum network before its switch to PoS. Some members of the mining communities who cannot profit from Ethereum’s new protocol support EthereumPoW.

The native token of the blockchain, ETHW, can be used to buy products and services from decentralised applications (dApps) created on the platform. The token is also useful to cover network transaction costs and receive rewards for mining to secure the protocol.

Info On Project

Ethereum switched from a so-called proof-of-work system to a proof-of-stake mechanism to conserve energy and secure the network. However, a section of the blockchain’s legacy computing operations declined to take part in the software update known as the Merge.

A team of miners led by Chandler Guo opposed Ethereum’s transition to a more energy-efficient network security method, claiming that Ethereum 2.0 will make crypto miners obsolete. Guo is a seasoned Ether miner and major supporter of Ethereum Classic, another PoW fork of Ethereum.

Holders of ETHPoW are certain that the coin and its ecosystem will stay out of any legal trouble the new Ethereum will encounter. According to Gary Gensler of the SEC, the staking features of the latest version of Ethereum could qualify it as a security under the Howey Test.

For now, only a few exchanges support ETHW, the native token for the EthereumPoW network. On these exchanges, individuals can trade, and the token is offered for spot trading on platforms like FTX, ByBit, Kraken, and BitMart.

Along with the mainnet launch, the EthereumPoW team sent an update advising users of some adjustments and updates. There have been more than 1.7 billion transactions since the launch. Also, the total number of addresses holding ETHW now stands at about 254 million.

Use Cases

Many projects have declared support for the EthereumPOW network since its introduction. Uniswap V3, MetaMask, DefiEdge, other decentralised wallets, decentralised exchanges, and other Web3 systems are some of these projects.
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Mining pools that had previously mined on other networks when Ethereum transitioned to a proof-of-stake algorithm have now started mining ETHW. With the mining pool accounting for 41.7% of the known hash rate, F2pool and others have begun directing resources toward the token.

How Does EthereumPoW Work?

A few hours after Ethereum successfully migrated to the PoS consensus method algorithm, anonymous developers forked the Eth blockchain and introduced the EthereumPoW token. It utilises the Proof-of-Work mechanism (mining) and functions similarly to how Ethereum did previously.

The underlying algorithm used by proof-of-work blockchains determines mining operations’ rules and difficulty level. The “work” itself is mining. It involves adding legitimate blocks to the chain. Computers must solve cryptographic puzzles as proof of work to be compensated with the capacity to validate blockchain transactions. It’s similar to competition and is known as bitcoin mining. It operates on the concept that one can fend off a malicious attack and confirm the authenticity of a transaction by using a lengthy string of letters and numbers, known as hashes.

The proof-of-work algorithm that Ethereum’s mainnet has used since its creation will be maintained in ETHPoW. Although the scheduled difficulty bomb was intended to make it impossible to mine on the PoW chain, ETHPoW has continued to be mined by mining pools.

The ETHPoW fork, which has a similar transaction background as the main Ethereum network, will begin producing its blocks upon activation of the Merge upgrade. The pre-Merge state of the Ethereum network acts as the initiation point for the PoW merge, meaning all token smart contracts and balances will also be brought over.

Therefore, everyone who now has ETH on-chain will end up with an identical amount of ETHW on the ETHPoW chain. Only the PoW fork will have native ETHW, a completely distinct asset from the original Ethereum token (ETH).

With ETHW originally forking the Ethereum blockchain, the chain would start with the same circulating supply as proof-of-stake Ethereum. The currency supply of the two chains would diverge, though, because the post-Merge Ethereum will have a considerably lower inflation rate than its current PoW version. As a result, the supply of EthereumPoW will increase more quickly than Ethereum on PoS if mining continues.

Is ETHW a Good Investment?

The creation of ETHW by the community ensured that miners could continue to operate and prevent it from becoming outdated. Ethereum founder Vitalik Buterin claimed that those promoting the hard fork are only “trying to make a quick buck.” However, some notable personalities in the cryptocurrency ecosystem, like Justin Sun and Chandler Guo, have expressed support for the fork chain.

Before making an ETHW investment, keep the following in mind:

• Speculative Value: Reputable crypto projects have backed the new PoS chain and the Ethereum Foundation. While ETHW is not yet widely accepted like the classic Ethereum, several projects already support the chain, which could lead to more value increases.
• Volatility: Ethereum is the second-largest cryptocurrency by market capitalization; this liquidity promotes a stable market. The market value and trading volume of ETHW are much lower. Any coin with a low trading volume is vulnerable to manipulating the market and experiencing higher volatility.
• Exchange Listings: Digital assets are listed on exchanges according to their demand and security. If coins and tokens are regarded as secure and make money from heavy trade, they are more likely to stay listed. However, the exchange may delist the asset if the trading activity falls below a necessary profit margin. However, ETHW is currently tradable on several crypto exchanges, including Kraken, FTX, Poloniex, Gate.io, MEXC, Huobi, etc. This shows there is a growing demand for the digital asset.

How to Buy EthereumPOW on Kraken

Investors’ interest in buying EthereumPOW will continue to rise as more people understand how it works. Buying ETHW is straightforward and can be completed with these few steps:

Register an Account

First, users should visit the Kraken site, click “Create Account,” and register by providing a username, email address, and password. Next, click on the verification email sent as part of the registration process.

Verify

Once users have signed up, they must go through account verification in adherence to the platform’s KYC requirements. For example, to get “Starter Level” verification status, a trader will need to provide a name, email address, physical address, and phone number.

The “Starter” verification procedure is automated and normally takes less than one hour.

Once traders are verified, they can access the overview section of their trading dashboard to click on “Buy” to make their first crypto purchase. First, however, they will have to fund their account before they can buy any digital asset.

Deposit Funds

Traders can fund their Kraken account using a credit or debit card, bank account, and cryptos.

The navigation bar lets traders move between features on the Kraken account dashboard. Traders must click “funding” to make a deposit into their account and select their preferred payment method.

Buy ETHW

Customers should return to the website and place their first order after receiving notification from Kraken that their cash has arrived. Select “Trade” then click “New Order” from the menu. Users can create customised orders by choosing “Simple” or “Advanced.”

Only two input fields are available for users if they select the “Simple” option: volume and Amount. Purchasing cryptocurrency at market value is the simplest method. Enter the desired amount for buying the “ETHW/USD” pair. An estimate of the total cost of the order is shown on the right side of the page.

EthereumPOW FAQs

Will Coinbase support ETHW?

ETHW is not supported by Coinbase right now. However, the crypto exchange stated that following The Merge, if an ETH PoW fork occurs, this asset will be reviewed with the same scrutiny as any other asset listed on their exchange. Therefore, there might still be future support for the digital asset.

What is Ethereum PoW?

EthereumPoW is a clone of the proof-of-work (PoW) blockchain used by the Ethereum network before switching to a proof-of-stake (PoS) consensus algorithm. The mining communities that cannot profit from Ethereum’s new protocol support EthereumPoW because it preserves the functionality of the Ethereum network before its switch to PoS.

Can you mine proof-of-stake?

Proof of stake cannot be mined. For proof of stake, validators are chosen at random to verify blocks of information and confirm transactions. Instead of employing a competitive rewards-based approach like proof-of-work, this system randomly selects who is eligible to receive fees. Proof-of-stake blockchains enable networks to run with significantly reduced resource consumption since they do not require miners to expend electricity on redundant processes (competing to solve the same puzzle).

Which coins use proof-of-stake?

Proof-of-stake (PoS) is a consensus mechanism for blockchain networks, and some coins that use this mechanism include Ethereum (ETH), Cardano (ADA), Solana (SOL), Tezos (XTZ), Algorand (ALGO), etc.

The post Where to Buy Ethereum PoW (ETHW) Crypto: Beginner’s Guide appeared first on Blockonomi.

In this beginner’s guide, we will explore what the Sandbox is and the best platforms to buy its SAND token for low fees.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Coinbase: Simple & Easy to Use Exchange

Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.

Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.

Read: Our Full Coinbase Review Here

The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.

Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.

Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.

For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.

Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.

Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.

Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).

Pros

• Beginner-focused
• Licensed and reputable platform
• Insurance in case of hacks
• Low minimum deposit

Cons

• High fee compared to competitors
• No credit card deposits for US customers

Visit Coinbase

Kraken: Top Crypto Platform with High Liquidity

Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.

The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.

Read: Our Full Kraken Review Here

Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.

Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform

Pros

• Dedicated service for institutions
• Great for beginners to use
• High trading liquidity

Cons

• The lengthy ID verification process

Visit Kraken

What Is Sandbox

The Sandbox is a project that creates and monetises gaming experience in the metaverse. Players on the platform can easily create games and virtual worlds on a decentralised basis and maintain ownership of their creations.

The main aim of The Sandbox is to eradicate the limitations of centralised gaming marketplaces. This voxel-based gaming platform enables users to create games, play them, share all types of creations, and most importantly, collect or trade in-game items without the need of a central authority. Each in-game item on this platform features a unique non-fungible blockchain identifier— used to confirm authentication of authorship.

The Sandbox ecosystem consists of three products that provide a smooth experience for the user-generated content (UGC) production process.

• VoxEdit – This is a powerful 3D voxel modelling and non-fungible token (NFT) functionality that shows newbies how to create and animate 3D objects and in-game characters like humans, animals, foliage, tools, vehicles, building, and plants. Once created, objects can be exported from VoxEdit to the Sandbox marketplace, where they become NFT game assets and are sold.
• Marketplace – The marketplace is where users upload, publish and sell their NFT assets made with VoxEdit. All creations are first uploaded to an InterPlanetary File System (IPFS) network to enable decentralised storage and then registered onto the blockchain for ownership validation. After this process is completed, creations become ASSETS that can be sold by initiating a sale offer on the marketplace where buyers can see and buy them— all items are technically registered as ERC-721 and ERC-1155 tokens.
• Game maker – This tool allows users to create amazing 3D games with no coding required due to accessible visual scripting tools. In addition, users can implement unique gameplay mechanisms and set up personalised scenarios.

SAND, The Sandbox’s native crypto, powers the gaming platform. The crypto asset runs on the Ethereum network and is the main asset of The Sandbox, where players can create and explore multiple game universes. SAND’s price hiked in late October 2021 after Facebook’s announcement of Meta and Mark Zuckerberg’s comments about the metaverse – a virtual universe that allows users to communicate through the use of avatars, in-game purchases, and more.

The SAND Token

SAND is a utility token of The Sandbox that enables users to earn money by playing the game. The token is deployed on the ERC-20 standard of the Ethereum blockchain, with a total supply of $1 billion tokens.

The SAND token powers all transactions and interactions in the project’s ecosystem. All players on the platform are required to own SAND to play the game, customise avatars, buy virtual land plots, or trade in-game assets in the marketplace. Users who own SAND tokens can also vote on decisions like updates, new projects, or features in the Sandbox game’s ecosystem.

The Sandbox has partnered with projects and companies such as Atari, Shaun The Sheep, and CryptoKitties, with an aim to eradicate centralisation and integrate blockchain into the game industry. As a result, crypto investors and enthusiasts believe SAND has high return potential and is capable of scaling past its all-time high of $8.44.

What Can You Do with SAND?

Access The Sandbox Gaming Platform

Players on the platform make use of SAND to play games, customise their avatar characters, and buy equipment.

Governance

SAND is a governance token, meaning that holders can participate in governance decisions on the platform via decentralised autonomous organisation (DAO) structures. They can vote on new implementations like upgrades, projects, feature prioritisation on the platform roadmap, and more.

Staking

SAND token holders can earn passive income by staking. This is also the only way to access valuable game catalysts and gems required to create ASSET.

How to Buy The Sandbox

Are you ready to buy The Sandbox? Here’s a detailed tutorial on how to buy SAND using our recommended cryptocurrency exchange, eToro.

This broker offers low fees, high liquidity, a wide range of crypto offerings, top-notch security, and in-built wallet functionality. To get started seamlessly, follow these detailed steps:

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.

1. Sign Up

Visit eToro and click on the ‘Start Investing’ visible in the middle of the home page. This will redirect the investor to a registration page where they must enter a username, email address, and a strong password.

They can skip this process and sign up by connecting to a Google or Facebook account.

2. Verify ID

As a regulated broker, eToro requires that investors complete a know-your-customer (KYC) process on eToro. This process enables them to unlock this broker's full trading features and functionalities. To get started, click on the newly created profile icon and proceed to select the ‘Verification’ icon. Once done, upload a valid ID card. This could be in the form of a driver’s license or any government-issued identity card.

Investors will also be asked to submit a recent utility bill or bank statement to validate their addresses.

3. Deposit Funds

Once the verification process is complete, investors can proceed to initiate a deposit on their newly created eToro account. Click on the action tab, select ‘Deposit Funds’, choose a payment channel, and input the investment amount.

Investors in the UK and US can invest with a minimum deposit of $10 with cards and a minimum deposit of $500 for bank transfers. Once done, tap on the ‘Deposit’ icon to place an order.

Find & Buy SAND Token

Once the account is funded, go to the search bar and type in “SAND”. Click on the displayed result and the “Open Trade” icon. Unchanged: Once the account is funded, go to the search bar and type in “SAND”. Click on the displayed result and the “Open Trade” icon.

The Sandbox Wallets

Now that we have explained how to buy Sandbox, how do you store the asset? What type of crypto wallet is available for Sandbox investors? A crypto wallet helps investors securely receive, store, and protect their crypto assets and validate transaction information.

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Conclusion

The Sandbox is a virtual game that allows users to purchase, sell, build, and trade in-game assets based on the Ethereum blockchain. Given the fast-paced growth and interests in the metaverse sector, The Sandbox and SAND token will continue to scale up and provide investment offerings to users.

Easily kickstart your investment journey with eToro as the exchange offers high liquidity, low trading fees, and has a user friendly interface.

The post Where to Buy The Sandbox (SAND) Crypto Coin: Beginner’s Guide appeared first on Blockonomi.

Prosper is a blockchain-prediction market that enables individuals to predict outcomes of events and earn rewards. This beginner’s guide details how to buy Prosper in minutes and why it is a worthy investment option.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What Is Prosper (PROS)?

Prosper (PROS) is a non-custodial prediction and hedging market platform. The platform is decentralised and operates as a cross-chain prediction market that allows users to predict the values of various outcomes of events. Prosper proffers solutions to the lack of liquidity in the decentralised finance (DeFi) ecosystem through the integration of unique binary models of liquidity provisions.

This innovative platform uses Chainlink to avert market manipulation and ensure transparency and security for all users’ data and funds. Chainlink is a decentralised oracle network that provides off-chain resources to the blockchain to create a hybrid smart contract. This helps to determine the final price value of a set prediction market.

Furthermore, Prosper runs on the Binance Smart Chain (BSC) mainnet. Due to its decentralisation, the platform operates as a non-custodial market with no control over user’s wallets or predictions.

The Prosper project consists of the following products:

Prediction Pools

Prosper consists of pools that feature single prediction markets. Each pool has two sides, that is, the bulls and bears. Users will be allowed to create their custom prediction pools; however, they will need to hold PROS tokens.

Liquidity Program

Prosper generates liquidity from liquidity providers (LPs) to fill its smart contract pools. For every pool that bets are not proportionally matched, LPs automatically provide funds in exchange for platform fees (in PROS tokens).

The PROS Crypto

PROS is a utility token of the Prosper platform. The token is deployed on the ERC-20 standard of the Ethereum blockchain, with a market cap of $19.9 million. The PROS token powers all transactions and interactions in the platform’s ecosystem and is also used for governance, creating custom prediction pools, commission rate discounts, prediction insurance, and many more.

The Prosper project has partnered with the world’s brightest companies to deliver robust user experience, mutual success, and stronger solutions for all customers. These companies include Microsoft, SAP, Adobe, IBM, CGI, Deloitte, and many more. As a result of being acquired by Animoca Brands, as well as its rich partnerships, crypto enthusiasts believe PROS will grow exponentially and is capable of scaling past its all-time high of $9.39

What Can You Do With PROS?

Custom Pool

Users can use PROS to create custom pools and set their own conditions, including a custom treasury rate.

Governance

As earlier stated, PROS can be used for governance. This means that holders of this token can participate in activities in the ecosystem, including decisions on the platform via decentralised autonomous organisation (DAO) structures. Even better, they can vote on new updates, features, projects, roadmaps, and many more.

Staking

Staking is rightfully gaining momentum in the crypto market. PROS token holders can generate interest (passive income) by staking. Exchanges like Binance allow you to stake your PROS token and enjoy yield rewards (paid back in $PROS)

How Does Prosper Work?

Prosper is a decentralised platform based on the Binance Smart Chain network. This platform works on the logic of smart contracts and features a pool system which runs as an operational model. This model enables Prosper to generate 168 prediction pools daily on the BSC network, allowing users to place predictions for BNB and ETH on the pools. Users must place a custom value on each pool to predict the correct outcome, asset value, or event.

Adding to its unique functionality, Prosper platform utilises a special liquidity provision to provide standard availability of assets in the pool by using prediction markets to validate the results of each prediction.

Prosper does not limit users to predictions only. According to its website, users who own PROS tokens can build pools embedded with their own customised conditions. Prosper uses PROS tokens to create pools which stand as insurance against predictions and set rewards. Ready to place your first prediction on Prosper and win great rewards?

Users will need to connect to the decentralised application with their Metamask wallet using the Binance Smart Chain mainnet. Next, select the currency you want to place a prediction on, for example- BNB/AXS. Select ‘Bull’ or ‘Bear’ against the trading pair you’ve chosen to make a prediction about, once done, confirm your position. Once the prediction pool is closed, users are eligible to claim their rewards if their prediction is right.

Is PROS Crypto A Good Investment?

PROS is an underrated token deployed on the Ethereum blockchain, though it is still relatively new. This token has great use cases and the potential to drive it to the very top. Here are key reasons that make this crypto asset a worthy investment option:

PROS is a ERC-20 Token

Prosper (PROS) is based on the Ethereum (ETH) blockchain. Ethereum is arguably the biggest and most utilised blockchain right now, home to hundreds of projects. As Ethereum continues to incorporate new features as well as increased growth, it will continue to rub off on Prosper’s project. This will gradually scale the price value of PROS to the peak, creating gains for its holders.

Animoca Brands Acquisition

In 2021, Animoca Brands released a press release affirming the acquisition of the Prosper platform and its native crypto, PROS. This acquisition enables the Prosper ecosystem to leverage Animoca Brands’ industry expertise and connections that are not available to other markets. Considering that Animoca Brands’ past investments are faring (SandBox and REVV), it is certain that the Prosper project will experience exponential growth.

PROS Is Relatively Cheap

In the traditional investment sense, investing in cheap crypto assets and generating massive gains when it grows tends to be the best strategy. PROS is one of the hottest cryptocurrencies today, with very strong potential. Its $1 token value makes it appealing for investment.

Partnership

Prosper’s vision of leading the pricing, sales effectiveness, as well as revenue management markets for industries and companies globally have drawn collaborations from popular companies. The current significant partners include Microsoft, IFMA, Ava Labs, Union, Clover, MDM, NewBound, OpenJaw, and many others. Prosper project has also teamed up with VTEX to provide a better and more seamless digital commerce platform for users.

Staking Rewards

Crypto staking makes every crypto asset appealing for investment. This is a process where a holder of a crypto asset ‘locks up’ a portion of their asset for a fixed time to support the platform blockchain network. Another feature that makes PROS attractive for investment is staking. Holders can participate in staking in Prosper decentralised autonomous organisation (DAO) to participate in its governance system and get more PROS tokens as rewards.

How To Buy Prosper On Binance

Prosper (PROS) is playing a big role in the investment industry and has seen a level of success. Investors should know how to buy Prosper; this guide will help potential buyers achieve this easily. Our top exchange to buy Prosper is Binance, the overall best trading platform.

Binance offers users high liquidity, low fees, a wide range of deposits and withdrawal channels, and top security. To get started, follow these detailed steps:

Step 1. Create a Binance Account

Navigate to the Binance platform’s website and register. Click on ‘Create a Personal Account’ to register an individualised account.

Users will have to submit a valid email address and enter a strong password to ensure account safety. This password must be a combination of numbers and letters. It should contain at least 8 characters, one UPPER CASE letter, and one number. To verify a phone line and an email address, users will also need to input a valid cellphone number after clicking the ‘Next’ button to move to the next screen page.

Step 2. Verify Account

Binance, just like all regulated exchanges, requires every user to provide KYC (Know-Your-Customer) information and complete certain verification processes, such as providing government-issued identity cards, a photograph, and other contact information to access the platform’s full features.

Step 3. Deposit Funds

The next step is to deposit funds in the Binance account. These funds is the capital that users use to purchase PROS or any other crypto asset on the crypto exchange. Binance supports a wide range of payment options, including bank transfers, credit/debit cards, peer-to-peer (P2P), and payment processors like PayPal.

Click on the ‘Deposit’ icon, type in the amount to invest, choose a payment option, and click on ‘Deposit’ to fund the newly created account.

Step 4. Buy PROS

After depositing, proceed to the search bar menu, search for ‘PROS’, and select the relevant option. Investors can then place a buy order, so Binance knows they wish to buy PROS. The PROS tokens will be added to their wallets once the transaction has been processed and completed.

Prosper (PROS) Wallets

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Prosper PROS FAQs

What is Prosper coin?

Prosper token (PROS) is the native currency that powers the Prosper platform. Holders can make use of this token to be eligible for governance, create custom pools, and stake.

Where to buy Prosper token?

Learning how to buy Prosper token also entails knowing the best place to buy the token. We recommend Binance because of its reputation, wide range of crypto offerings, trading features, and security.

Where can I buy Prosper crypto?

Investors can buy Prosper (PROS) on crypto exchanges that list and support the token for trading. Although hundreds of exchanges exist, we recommend Binance because of its low fees, high liquidity, and top security. Investors new to trading can learn how to buy Prosper via Binance e-learning blog.

The post Where to Buy Prosper (PROS) Crypto: Beginner’s Guide appeared first on Blockonomi.

As a result, the network offers many beneficial features that are intended to remove obstacles to blockchain adoption while speeding up the onboarding process.

In this guide, we’ll discuss what Klaytn is, why investors should invest in the digital asset KLAY, and the best wallets to store the token.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Gate.io: Solid Platform With Lots of Coins

Gate.io is a cryptocurrency trading site that aims to offer its members an alternative to the exchanges currently dominating the market.

The site has been in operation since 2017 and aims to capture a portion of the cryptocurrency trading market by offering its users hassle free access to a number of hard to find coins and up and coming projects.

The site is also designed to help investors find specific information related to both their preferred coins and overall market trends.

Read: Our Full Gate.io Review Here

Trading mostly takes place on a web-based trading platform that is similar to most cryptocurrency exchanges. The site incorporates a number of functional features such as an order book, trading history, and charting.

Pros

• A wide range of currencies
• A low fee structure
• Simple registration process
• Functional platform with a mobile app available

Cons

• Unregulated
• The team is not very transparent
• No fiat currency transfers

Visit Gate

What is Klaytn?

Klaytn is an open-source blockchain focused on the creator economy, gamefi, and the metaverse.

The platform, which was launched in June 2019, currently holds the lead in South Korea and is expanding its global business from its international base in Singapore.

Klaytn focuses on innovative transformation that will empower people in the Web3 era of technology and business. In place of proof of work or proof of stake consensus, the platform employs the Practical Byzantine Fault Tolerance (PBFT) method.

There are no message exchanges between nodes in the PoW and POS algorithms, despite each node getting and validating blocks. However, with PBFT, each node interacts with other participating nodes to form a consensus, and the block’s finality may be ensured as soon as nodes succeed.

There are three different node types in Klaytn: CN (Consensus Node), PN (Proxy Node), and EN (Endpoint Node). Block generation is overseen by CCOs (Core Cell Operators), who also handle CNs. Every node in the network verifies these blocks.

In order to establish what the firm claims are the best environment for blockchain applications to flourish in their ecosystem, the Klaytn (KLAY) ecosystem offers a range of intriguing characteristics. These include transaction fee subsidisation for end users, robust transaction throughput, scalability facilitated by the service chain, and low latency network responsiveness.

The interoperability of Klaytn with legacy technologies is another important element. According to the company’s official documentation, businesses can quickly switch to adopting the Klaytn blockchain technology.

The network’s utility and governance token is called KLAY. In the ecosystem, this cryptocurrency has several different functions. Investors can pay their transaction fees using KLAY. Additionally, it is a very quick and effective medium of trade. The token can be staked to ensure passive rewards and can even be used as secondary token collateral. 10 billion KLAY coins were issued at the time of Klaytn’s introduction, and there are currently 2.9 billion KLAY coins in circulation.

Use Cases

Games: Wemade’s Klaytn-based P2E ( play to earn) game, MIR4, drew more than 1.3 million active players in less than three months after being available in 170 countries.

Exchanges/Defi: KLAY has a lot of global liquidity and is listed on several significant international exchanges, including Binance. With about $415.95M TVL (Total Value Locked), the DeFi ecosystem on Klaytn has likewise experienced exponential growth.

Wallets: The Klaytn network is officially supported by Metamask, which is also easy to integrate into its ecosystem applications. Also, the Kakaotalk chat app has a wallet called Klip that links its 1.67 million KYC users to several DApps in the Klaytn ecosystem.

Layer 2: WeMade’s Klaytn sidechain, WEMIX, is where the popular MMORPG MIR4 is hosted. WeMade has disclosed its intention to add 100 games to its platform. Also, BORA efficiently migrated to the Klaytn sidechain after its acquisition by Kakao Games. BORA has a stack of exciting projects revolving around NFTs and games in store for the future.

Klaytn 2.0: With the announcement of further strategic agreements as part of its Klaytn 2.0 roadmap, Klaytn is set up for global growth.

Here are some upgrades and changes that Klaytn has planned:

• Support for Ethereum Equivalence: By providing an Ethereum equivalent, Klaytn enhances the Ethereum environment while also using its unique advantages. Because Klaytn uses the same technology stack as Ethereum, projects based in the metaverse that find it difficult to work on Ethereum owing to its technical restrictions can do so more quickly and easily.
• Scale-Up Via Service Chains: As a scaling solution, Klaytn uses a hub-and-spoke design to preserve performance as the project ecosystem expands. Like in previous L2 solutions, the “spokes”, referred to as “Service Chains”, can be customised for specific dApp requirements and anchored to the main chain for increased security.
• Consensus Optimisation: TPS (Transaction Per Second) improvements operate as a performance multiplier in a “hub and spoke” design. Thus, the developers will simultaneously focus on optimising the consensus process to increase their chains’ TPS.
• A Free and Friendly Environment for Developers: In line with its origins as an open-source, public blockchain project, Klaytn’s developers will devote efforts towards developing an end-to-end package for blockchain and metaverse developers to facilitate onboarding and a stack of open-source tools and platforms.
• Step Towards Centralisation: A fundamental principle of the metaverse and the coming economy is decentralisation. As part of the progressive transition towards decentralisation, Klaytn, which firmly believes in this shared global goal, will be revised using key components of the governance plan.

Is Klaytn a Good Investment?

Potentially, Klaytn has what it takes to deliver gains, especially considering its roadmap. However, always remember that the cryptocurrency market is volatile.

For investors seeking to invest in digital assets and exploring how to buy Klaytn, here are some unique features that make the digital asset worthwhile.

A Complete Development Bundle for the Metaverse

Klaytn provides an end-to-end metaverse package that includes tailored L2 solutions, chain explorers, SDKs and smart contract libraries, IPFS solutions, wallets, oracles and bridges, and an ecosystem of supporting services like stablecoin integration, NFT marketplaces, and tradefi interfaces.

This bundle makes it easier to build for the metaverse.

1-Second Deterministic Finality

Klaytn uses an optimised version of Istanbul BFT to enable transactions to reach absolute finality in less than one second, allowing use cases where near-instant and irreversible finality is required, such as real-time minting of in-game item drops. This allows for responsive user experiences.

Klaytn’s Data Guarantee

Blockchains that use Proof-of-Work or Proof-of-Stake display probabilistic finality, meaning there is a minimal possibility that a transaction can be undone once it has been added to the chain. Due to this, many blockchains are inappropriate for mission-critical applications, especially when used at scale. Klaytn’s IBFT consensus algorithm provides the dependability and data consistency required for large-scale applications by ensuring that data stored on the blockchain is accurate and cannot be reversed.

Access to Ethereum Equivalence

Klaytn will adopt the EVM(Ethereum Virtual Machine) requirement through:

• Making the technological architecture of Klaytn comparable to the architecture of Ethereum in terms of execution and interface.
• Building on top of the open-source codebases of the current Ethereum clients and interface libraries to inherit any upgrades made to them. Klaytn supports EVM as one of the developing standards for the metaverse and Web3.
• Enabling contributions to both ecosystems from Klaytn Improvement Proposals (KIPs) and Ethereum Improvement Proposals (EIPs).

A Distinct Governance Framework

The Governance Council (GC) of Klaytn is the cornerstone of their innovative approach to decentralisation. These GC members, which include top global companies and DAOs (Decentralised Autonomous Organisations) from various regions and industries, create a small validator network that may provide the advantages of a decentralised public blockchain while keeping the functionality of a permissioned blockchain. Furthermore, by adding more DAOs to its GC in the future to create a “DAO of DAOs”, Klaytn hopes to decentralise the system further.

Integrated Scalability Through Service Chains

The hub-and-spoke architecture, which is regarded as one of the best scalability solutions, is used by Klaytn. The spokes, or service chains, of Klaytn can be modified to meet particular DApp needs like high throughput, unique node configurations, or personalised security settings. Additionally, the inclusion of stacked service chains will offer the exponential scalability required for widespread adoption in the metaverse.

Protocol-Level Ecosystem Fund of $1 Billion

Klaytn has set aside a total of $1 billion to encourage ecosystem growth through a mix of the first issued reserve KLAY and on-chain tokenomics that re-invest 66% of newly-minted KLAY. The funds are dispersed among a variety of grant and incentive programmes:

• The Klaytn Improvement Reserve (KIR) for infrastructure, tools, and services that enhance the calibre of the Klaytn network.
• The Klaytn Growth Fund (KGF) for projects in their early stages with a high likelihood of having a positive impact on Klaytn.
• The Proof of Contribution (PoC) initiative rewards smart contract developers who help expand Klaytn’s on-chain operations.

The Preferred Business-Level Blockchain

The leading mobile gaming companies, Netmarble and WeMade, as well as industry titans like the GMO Internet Group in Japan and the Salim Group in Indonesia, are partners with Klaytn, making Klaytn the blockchain of choice for corporations and enterprise-level use cases. Also, the Bank of Korea’s CBDC project, which utilises a private, ĺcustomised version of Klaytn, has chosen Klaytn as its official blockchain partner.

Klaytn maintains its integrity. However, for the digital asset to surge in the crypto market, clients must place their trust in it.

Klaytn Wallets

Investors learning how to buy Klaytn have to also learn the best wallets to store the Klaytn crypto. A cryptocurrency wallet functions like a regular wallet and a bank account. It gives traders a place to save their coins and an easy way to spend and receive them.

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Conclusion

The Klaytn strategy is straightforward: make it simpler for companies to use blockchain services without it being a huge crisis. In particular, the network’s compatibility with legacy systems is a crucial draw for significant businesses prepared to make the switch. For the time being, Klaytn leads the field of enterprise-grade decentralised service providers. As more users become aware of the network’s beneficial qualities, we expect it to broaden its positioning.

The post Where to Buy Klaytn (KLAY) Crypto Coin: Complete Guide appeared first on Blockonomi.

With Monero, each user is the only one who controls and is responsible for his or her own funds. Prying eyes cannot see your transactions or accounts.

Monero is a secure, private, and untraceable cryptocurrency. It is open-source and accessible to all. With Monero, you are your own bank. Only you control and are responsible for your funds. Your accounts and transactions are kept private from prying eyes.

With Monero, users don’t have to worry about fraudulent chargebacks or multiday holding periods. There are also no capital controls, measures that can restrict flow for traditional currencies in areas with economic stability. Instead, you are in control of your money.

This guide looks at how and where to buy the Monero XMR Crypto coin.

Binance: Reputable Exchange with High Liquidity

Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.

The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.

Read: Our Full Binance Review Here

Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.

Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.

All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.

In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.

Pros

• Trading fees at 0.01%
• High liquidity
• Wide range of payment methods
• 600+ crypto assets in library

Cons

• Interface is suited for advanced traders
• US-based customers cannot trade most coins via its subsidiary

Visit Binance

Kraken: Top Crypto Platform with High Liquidity

Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.

The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.

Read: Our Full Kraken Review Here

Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.

Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform

Pros

• Dedicated service for institutions
• Great for beginners to use
• High trading liquidity

Cons

• The lengthy ID verification process

Visit Kraken

KuCoin: Exchange With Lots of Listings

KuCoin is one of the world's oldest and most popular crypto exchanges. The Seychelles-based broker is one of the most notable names in the market for traders who desire access to derivatives products to speculate in the market.

Currently, KuCoin provides access to over 600 cryptocurrencies. Besides trading and investing, the exchange allows investors to save, stake crypto, and even participate in Initial Exchange Offerings. With KuCoin, investors have an all-encompassing crypto hub.

Read: Our Full Kucoin Review Here

Like many brokers in its class, KuCoin could appear too overwhelming for beginners. The exchange is more suited for advanced traders who want to speculate and trade sophisticated products. So beginners might have some difficulty making use of it.

Despite this, investors could gain many benefits from trading with KuCoin. The broker has a low minimum balance of $5, with deposits available via major fiat currencies, peer-to-peer (P2P) transfers, and a few credit card options.

As for trading fees, KuCoin users pay 0.1% in fees. But the fees could decrease based on an investor's 30-day trading volume and ownership of the company’s KCS token.

Security on KuCoin is also impressive. The system uses bank-level encryption and security infrastructures to protect users’ coins and data. KuCoin also has a specialized risk control department to enforce strict data usage policies.

Pros

• Discounts available on trading fees
• Extensive staking functionalities
• Quick P2P trading system
• Anonymous trading available
• Low minimum balance

Cons

• No bank deposit option

Visit Kucoin

Bitfinex: A Trusted Exchange

Based in Hong Kong, Bitfinex is owned and operated by iFinex Inc - a financial services company that also owns Tether Limited, the issuer of the USDT stablecoin. The broker is popular for having one of the most liquid order books in the market, ensuring that users looking to buy and sell crypto have no trouble getting it done.

Like many other top brokers, Bitfinex offers a versatile platform for anyone looking to enter the crypto market. Investors can buy and trade crypto, stake cryptocurrencies, and lend their coins to earn returns.

Read: Our Full Bitfinex Review Here

Ease of use is impressive on Bitfinex, with the broker combining an intuitive platform with a low deposit threshold. Deposits on Bitfinex can be made through direct crypto transfers, wire transfers, and card payments. Card payments are processed through a third party, so investors might have to pay more fees.

Besides its trading interface, Bitfinex provides easy access to services like margin trading, derivatives offerings, and lending. Investors looking to make high-volume purchases can use Bitfinex’s OTC trading service, while those looking for low-risk gains can use the broker’s staking protocol.

Bitfinex uses a maker-taker fee structure for its trades. The fees range between 0% and 0.2%, with fees reducing as investors' order volumes increase. Also, the exchange doesn’t charge any fees for large orders through its OTC desk. Bank wires incur a 0.1% fee for deposits and withdrawals - although expedited withdrawals carry a charge of 1%. Crypto withdrawals incur a small fee, depending on the coin being withdrawn.

The exchange protects user funds and data using 2FA, advanced API key permissions, and the storage of 99% of funds in cold storage.

Pros

• Easy-to-use interface
• Impressive staking protocol for PoS coins
• Highly liquid order book
• High leverage for derivatives trading
• Unlimited withdrawals

Cons

• Higher costs for card transactions

Visit Bitfinex

What is Monero?

Monero is actually a community project of the grassroots variety. This means that the coding and development is the result of work by a large team of the best engineers and researchers in the cryptocurrency world.

There are 30 core developers on the project, but more than 240 have contributed. The community is strong and everyone with an interest is welcome to get involved in the chat channels or forums.

Monero is an effort combining the work of those around the world. Distributed systems and cryptography experts from numerous countries either get funding from community donations or donate their time.

Because no single country is the base for Monero, it cannot be shut down by one country or be limited to any specific legal jurisdiction.

When Did Monero Begin?

Monero first launched in April 2014 as a preannounced and fair launch of the CryptoNote reference code. The community didn’t agree with some of the founder’s controversial ideas, and a new core team took over, providing oversight since then.

Since its original launch, Monero has migrated the blockchain to another database structure, improving flexibility and efficiency.

The developers also set minimum ring signature sizes to make all transactions private, and RingCT was added, hiding all transaction amounts. Almost every improvement made so far has made Monero easier to use or enhanced security and/or privacy.

What Systems Can Monero Work with?

There are Monero downloads available for all major operating systems. These include Windows, Mac, and Linux. You can also download the latest blockchain as Monero is open source. This ensures that everyone can take advantage of Monero if they want.

Monero & Privacy

While there are other options that aim to give users private digital currency, none offer the same security of Monero. The secret to this system is its nature as a decentralized cryptocurrency.

In other words, this is a type of secure digital cash that a network filled with users operates. All transactions receive confirmation from the distributed consensus, and the blockchain records them. Because of its use of the blockchain and other crypto methods, Monero doesn’t need any third party to protect your money.

Monero is also completely private since all transactions are confidential. The combination of ring confidential transactions and ring signatures hides the origins, destinations, and quantities of every transaction. In other words, Monero gives users the advantages related to decentralized cryptocurrencies without needing to concede privacy like you would with other cryptocurrencies.

Because the default setting for transactions in Monero is to obfuscate the addresses of senders and recipients, you cannot trace transactions of the cryptocurrency. Transactions made on this blockchain are impossible to link to a real-world identity, giving you privacy.

Monero is also fungible because of its private default nature. As it currently stands, there is almost no chance that vendors or exchanges will blacklist it due to the association of previous transactions.

By contrast, the vast majority of existing cryptocurrencies, including Ethereum and Bitcoin, feature transparent blockchains. That means that anyone with an internet connection can trace and verify transactions

. Transactions made with those cryptocurrencies can even be linked back to the person’s real-world identity. None of this is a concern with Monero due to its cryptography and shielded information regarding addresses and transacted amounts.

Why Privacy and Non-traceability of Monero Really Matter

Before you look into the examples that prove the benefits of untraceable and private nature of Monero, it will be helpful to know that your anonymity is compromised when you trade using bitcoins regardless of whether you are sending the money or receiving it.

When you give your wallet address to someone for receiving bitcoins, they can see how many bitcoins you own. In a similar way, the public ledger lets the other parties know about your bitcoin account size when you send them the money.

How is that unfavorable for you? Here are some examples taken from Monero.how

• Example 1 – As a business, when you make a payment to one of your suppliers for the goods they have provided to you, they can now access all your bitcoin transaction history and see which other suppliers you are dealing with. Knowing this information, they might raise the price of their goods and take away your power to negotiate since your public ledger is already available to them.

• Example 2 – You visit a country or part of a country that has high crime rate. You make several purchases while visiting different places there—maybe to collect souvenirs on your way back home. Now, every shop or individual you have done a transaction with knows the frequency of your transactions, their sizes and the current bitcoin balance you have. This puts you in a dangerous situation.

• Example 3 – You are a service provider where you charge your clients on a per-project basis. Being a reputable entity in the industry you not only charge clients for your services, but also for the value you bring to the table. However, looking at your past records in the public ledger your customers might never pay you the value of your service and end up negotiating your service fees most of the times.

How Do You Use Monero?

When using Monero, users are strongly encouraged to interact with the community for support and answers to any questions they have.

You will need to download a Monero wallet to keep your funds secure and get started. From there, you can buy Monero using cryptocurrencies or fiat currencies on an exchange. Alternatively, you can mine Monero. Once you have Monero, you can send and receive it or even use the cryptocurrency to buy services and goods.

When accepting Monero, you don’t need to create a new address for each user or payment because of the stealth addresses. Instead, you give the person sending the money your payment ID, a hexadecimal string with 64 characters that the merchant typically randomly creates. You can then check for payments via the “payments” command within Monero-wallet-cli. There is also the option of programmatically checking for payment.

How to Buy Monero on Binance

After exploring where to buy and the coin’s use cases, the next thing is to explore how to buy it for your portfolio. Binance is our recommended exchange, so we'll explore how to purchase the asset using Binance.

Step 1: Sign Up

Go to the Binance home page and click on “Register”.

Binance allows investors to register using their mobile phone, email address, or Google account. Most users choose the first two options and provide their phone numbers, emails, and desired passwords. A link will be sent to their registration channel of choice, and investors can click on it to authenticate their accounts.

Step 2: Verify Your Identity

Like many other regulated brokers, Binance requires that investors verify their identity before commencing their purchase.

To complete the process, visit the “Identification” tab. Investors will have to share personal information, their proof of residence, and a government-verified means of identification. This process should take no more than a few minutes to complete.

Step 3: Deposit Your Funds

Next, investors will have to deposit into their Binance wallets. The exchange makes deposits possible using payment processors, wire transfers, bank deposits, and direct crypto transfers. And its required minimum deposit is $10.

To make a deposit, go to the “Payment” section and click “Add a new payment method” to enter payment details. Alternatively, investors can click the “Buy Crypto” button to select a payment method and complete their transfer.

Step 4: Buy

With a funded wallet, investors are ready to make a your purchase. Head to the “Buy Crypto” section and enter the desired amount. Click on “Continue” after reviewing the terms, and the wallet should be updated immediately.

Monero Wallets

You can download a desktop wallet from the official Monero website here, or take a look below for more options.

Software Wallet

Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.

A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.

Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.

Hardware Wallet

A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.

Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.

With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.

Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:

• Ledger Nano S Review
• Ledger Nano X Review
• Trezor vs. Ledger Review

Mobile wallet

A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.

These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.

Desktop wallet

A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.

Paper Wallet

The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.

Conclusion

For those who want additional privacy in their cryptocurrency transactions, Monero is a very useful option.

While some other currencies offer the option of stealth addresses, this is the default with Monero, ensuring that everyone’s information is secure, as are the transaction amounts.

It is straightforward to use, and because Monero is community driven, it connects users with others around the world, building a sense of being part of something larger.

Monero is one of the oldest cryptocurrencies and one of the strongest in terms of privacy options.

Useful Links

• Official Website
• Official Blog
• Twitter
• Slack
• Telegram
• Facebook
• Reddit
• Coinmarketcap
• Bitcointalk Announcement

The post Where to Buy Monero Coin (XMR) Crypto: Beginner’s Guide appeared first on Blockonomi.