How to buy Anchor Protocol in 4 Easy Steps
Anchor is a lending and borrowing protocol developed on the Terra blockchain. The protocol allows users to deposit their Terra stablecoin and earn up to 19.5% interest on the deposits.
Our step-by-step guide on how to buy Anchor Protocol (ANC)
Step 1: Choose a Crypto Exchange Platform
Anchor Protocol is not listed for direct purchase on any popular crypto exchanges. However, you can buy it as a trading pair with Tether (USDT) or Ethereum (ETH). You must pick a crypto exchange where the trading pair is listed to own the Anchor Protocol (ANC) token. ANC/USDT or ANC/ETH is available on popular exchanges such as KuCoin, Gate.io, OKX, MEXC, and Bitmart. Make sure to select a reputed exchange that has strong security measures and an easy-to-use website or app. It will help ensure a safe and user-friendly experience while buying ANC.
Step 2: Register on a platform
After choosing a crypto exchange, you will need to create an account. Go to the exchange’s website and click the “sign up” or “register” button. The exchange will ask you for basic details like your name, email address, phone number, and permanent address. To ensure security, you must provide valid ID proof for identity verification (KYC). Once you’ve submitted everything, the exchange will review your information and activate your account, usually within a few hours or 1-2 business days.
Step 3: Buy the cryptocurrency using your feasible payment method
Now that you have made your exchange account, you can buy either stable coin using your preferred payment mode. To purchase ANC, you will first need to buy USDT or ETH. You can buy USDT through peer-to-peer (P2P) platforms, credit cards, debit cards, bank transfers, or third-party payment services. After buying USDT, navigate to the spot trading section and search ANC. Look for the ANC/USDT pair and use your USDT to buy ANC coins.
Step 4: Store the cryptocurrency in a wallet
After you acquire the ANC coins, you can transfer and store them in your digital wallet. To transfer ANC, click withdraw ANC in your exchange wallet and fill in the required details, such as the receiver wallet’s address and the amount you want to transfer. Carefully, Select a transfer network that supports ANC on both the sender and receiver end. Click the withdraw button and wait for the transaction to be complete. Some of the wallets that support ANC tokens are:
- Exodus
- Coinomi
- MetaMask
- imToken
You can also store it in hardware wallets such as:
- Trezor One
- Trezor Model T
- Ledger Nano S
- Ledger Nano X
Also read: Anchor Protocol Price Prediction
Popular Video Guides on Buying Anchor Protocol
Where to buy Anchor Protocol (ANC)
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Gate.io, a well-known cryptocurrency exchange, launched in 2013. It provides users with various digital assets for trading, including cryptocurrencies such as Bitcoin, Ethereum, Ripple, and many other altcoins. The exchange offers spot, margin, futures trading and various advanced trading tools. It mainly focuses on its security measures to provide a secure environment for users to trade.
Factsheet
| Header 1 | Header 1 |
|---|---|
| Operational Since | 2013 |
| Deposit Methods | P2P, Debit Card, Credit Card, Cryptocurrency |
| Deposit Fees | None |
| Cryptos Listed | 1400+ |
| Trading Fees | Depends on VIP levels (0%-0.2% for the maker, 0.02%-0.2% for the taker) |
| Fiat Currencies Supported | 50 fiat currencies |
| Trustworthiness | Safe and Reliable |
OKX is a famous cryptocurrency exchange launched in 2017. The exchange has a prominent global presence with over 50 million global users. It offers an extensive range of Crypto products and services. There are over 350 cryptocurrencies available to buy, sell and trade on the platform. It allows users to explore Web3, copy trade from top traders, and trade NFTs.
Factsheet
| Header 1 | Header 1 |
|---|---|
| Operational Since | 2017 |
| Deposit Methods | Credit/Debit Card Payment, P2P Trading & Third Party Payment |
| Deposit Fees | None |
| Cryptos Listed | 350+ |
| Trading Fees | 0.06%-0.08% for the maker and 0.08% - 0.10% for the taker |
| Fiat Currencies Supported | 98 fiat currencies (USD, RUB, CNY, JPY, VND, INR) |
| Trustworthiness | Safe and Reliable |
Established in 2017, Kucoin is a global cryptocurrency exchange that allows users to buy, sell and trade coins like BTC, ETH, SOL, USDT, BNB, and over 700 cryptocurrencies listed on the exchange. The exchange operates with the motto of facilitating the global free flow of digital assets.
Factsheet
| Header 1 | Header 1 |
|---|---|
| Operational Since | 2017 |
| Deposit Methods | Credit/Debit Cards by Visa and Mastercards, P2P trading, Third Party Transfer, Bank Transfer |
| Deposit Fees | None |
| Cryptos Listed | 700+ |
| Trading Fees | 0.005%-0.1%, depending on your tier level |
| Fiat Currencies Supported | 28 including USD, EUR, GBP, CAD |
| Trustworthiness | Safe and Reliable |
Frequently Asked Questions
Where can you buy Anchor Protocol with a credit or debit card?
You cannot purchase Anchor Protocol (ANC) coins directly using your credit or debit card on any crypto exchange. However, you can buy USDT (a stablecoin) directly with your credit or debit card and then use the USDT to trade for ANC coins on the exchange. So, the process involves two steps: buying USDT with your card and exchanging the USDT for ANC coins.
What will you need to buy Anchor Protocol?
To buy an ANC token, you must first have a USDT or ETH coin in your crypto wallet. As the Anchor Protocol token is not available for direct purchase, make sure to own any of the above stablecoins. You need an account on CEXs with USDT/ANC or ETH/ANC trading pairs listed on their platform. You will also need an online or offline wallet to safely store your ANC tokens.
What is the easiest way to buy Anchor Protocol?
The easiest way to buy Anchor protocol (ANC) is to create an account with a crypto exchange. Next, use your preferred payment method to buy USDT coins. Once you have bought USDT, go to the spot trade section on the exchange and buy ANC coins using your USDT.
Best wallets to store your Anchor Protocol (ANC)
You must use a digital wallet to transfer and store your ANC coins. It gives your assets an added security. Some wallets supporting ANC tokens are Exodus, Coinomi, MetaMask, andimToken.
You can also store it in hardware wallets such asTrezor One, Trezor Model T, Ledger Nano S, and Ledger Nano X.
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