MultiversX is a powerful blockchain based on adaptive state sharding and secure proof of stake mechanism. The platform hosts a web3 ecosystem consisting of DeFi services, games, wallets, NFTs, marketplaces and more. Developers who are looking to build dApps can also benefit from this platform’s capabilities.
The EGLD token is the native utility token of the MultiversX platform. EGLD performs various functions on the network such as governance, transactions, and staking.
This article will take you through the procedure of buying your EGLD token easily and securely.
How to Buy MutliversX in 4 Easy Steps
To buy EGLD simply and conveniently, you can follow these 4 steps:
Step 1: Choose a Crypto Exchange Platform
The primary requirement for buying EGLD is to choose an exchange platform through which the transaction can be made. The process of choosing a platform involves verifying details such as security features, user reviews, fiat currencies and exchange pairs offered, and ease of transaction.
Platforms like Kraken, Coinbase, and Bitfinex will let you use USD to buy EGLD. Besides a fiat currency, you may use a valid exchange pair with another altcoin. Binance, Bybit, and OKX will let you trade USDT (Tether) for EGLD. Kucoin provides a pair with BTC (Bitcoin) for trade.
Step 2: Register on any of the Platform
The platform you choose will require you to register an account to proceed with trading. Details such as your name, residential address, phone number, and email address will be required along with a valid ID such as a passport or a driver’s license. The ID is required for the KYC process which will take a few hours to complete. After the verification, the account is ready to use, and you may begin trading.
Step 3: Buy The Cryptocurrency Using Your Feasible Payment Method
Now that you have a registered account, you may begin with the purchase. You are required to add funds to your account for which, the available payment options may include debit or credit cards, bank transfer, crypto wallets and more. Each platform offers different modes of payment that should be verified by you before the purchase.
To purchase the EGLD token with USD, use Kraken, Coinbase, or Bitfinex. If you want to trade EGLD for another altcoin, use Binance and OKX to get an exchange pair with Tether (USDT) and Kucoin for a Bitcoin (BTC) exchange pair.
Step 4: Store the Cryptocurrency in a Wallet
After the successful purchase, storing your token safely is necessary. The best way to ensure the safety of your token is to store it in a crypto wallet. Analyse the security features, customer reviews, and ease of use for all options before choosing one. Wallets such as Ledger and MultiversxWallet are recommended for EGLD storage.
Once you have chosen your wallet, go to the withdrawal section of the exchange and enter your wallet’s public address. Select the amount of cryptocurrency to transfer and confirm to complete the transaction. The process is now complete and your EGLD tokens have been stored safely.
Also read: What Are CBDCs?
Popular video guides on buying MultiversX (EGLD)
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Where to buy MultiversX (EGLD)
Coinbase Exchange is a popular cryptocurrency platform based in the US, perfect for both newcomers and seasoned traders. With its intuitive design, users can easily buy, sell, exchange, and store a variety of cryptocurrencies. You’ll enjoy features like a digital wallet and PayPal withdrawals for smooth transactions. For those seeking more advanced options, Coinbase Pro used to offer professional trading tools, but now, the “Advanced Trade” feature is available to everyone on the main app, making trading even easier!
Factsheet
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Operational Since: |
2012 |
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Deposit Methods: |
Cryptocurrency, Bank Transfer, Debit/Credit Card, PayPal and SWIFT. |
|
Deposit Fees: |
Wallet: 1.49% fee, Card: 3.99%, ACH: Free, Wire: Fees. |
|
Cryptos Listed: |
247+ |
|
Trading Fees: |
0.00% to 0.40% for maker fees, and 0.05% to 0.60% for taker fees |
|
Fiat Currencies Supported: |
60+ fiat currencies |
|
Trustworthiness: |
Safe and Reliable |
ByBit is a leading cryptocurrency exchange, renowned for its high trading volume and robust platform. Launched in March 2018, it caters to over 40 million users, including individual traders and institutions. The exchange offers a diverse array of trading options, including Spot and derivatives such as Futures and Options. The platform also features innovative services like launchpad projects, earn products and an NFT marketplace. With an ultra-fast matching engine and 24/7 customer support, ByBit ensures a seamless trading experience.
Factsheet
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Operational Since: |
2018 |
|
Deposit Methods: |
Credit/Debit Card Payment, P2P trading, Third party payment and fiat deposits. |
|
Deposit Fees: |
No charge |
|
Cryptos Listed: |
100+ coins |
|
Trading Fees: |
0.04% for Makers and 0.01% for Takers |
|
Fiat Currencies Supported: |
60+ fiat currencies |
|
Trustworthiness: |
Safe and reliable |
OKX (formerly OkeX) was launched in 2017 and provides trading services such as spot trading, futures, options, trading bots, and crypto loans. The platform also acts as a host to several web3 services such as dApps platform, NFT marketplace, and crypto hot wallet. OKX provides lower fees compared to some of the other exchange platforms making it a popular choice amongst traders.
Factsheet
|
Operational Since: |
2017 |
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Deposit Methods: |
Visa, MasterCard, and ApplePay credit cards |
|
Deposit Fees: |
None |
|
Cryptos Listed: |
Over 344 cryptocurrencies listed |
|
Trading Fees: |
0.08% Maker and O.10% Taker |
|
Fiat Currencies Supported: |
97 fiat currencies |
|
Trustworthiness: |
Safe and reliable |
Frequently Asked Questions
Where Can You Buy MultiversX With A Credit Or Debit Card?
Some exchanges provide the option to purchase the token directly using a fiat currency. Kraken, Coinbase, and Bitflix will let you use USD to buy EGLD. In the absence of an option for a fiat currency, you may purchase an altcoin with your card and exchange it for EGLD. For example, Tether can be used on Binance, Bybit, and BitFinex.
You must add the funds to your account using your card to purchase EGLD or another altcoin. Before making the trade, use the features offered by the platform to analyse the token trends and exchange ratios to ensure the best rate.
What Will You Need To Buy MultiversX?
The resources listed below are necessary to complete the process of buying EGLD.
- An exchange platform: You need a crypto exchange platform to buy or trade EGLD. Once you create and validate your account, transfer funds to it and complete the trade. All platforms provide reports and analysis of your preferred token to help you optimise the trade.
- Debit/credit card: A debit or credit card is necessary to transfer funds to your crypto exchange account. You can use the funds to buy EGLD directly or an altcoin with a valid exchange pair that can be traded for EGLD.
- Fiat money: You may use a fiat currency to purchase EGLD. Only a few platforms allow such exchange pairs so be sure to verify the same before transferring your funds.
- Crypto wallet: A crypto wallet is necessary to ensure the safety of your cryptocurrency. Wallets such as Arcna and SafePal are a good choice to store your EGLD. Evaluate the wallets based on their safety features, u interface and customer support.
- Primary cryptocurrency: If fiat currencies are not accepted on exchange platforms, another way is to buy an altcoin using which EGLD can be purchased. Altcoins like USDT (Tether), and BTC (Bitcoin) are available as exchange pairs on different trading exchanges mentioned above.
What Is The Easiest Way To Buy MultiversX?
The easiest way to purchase EGLD is through a direct purchase on a crypt exchange platform. The platform that offers a credit/debit card option and a fiat currency will provide the easiest user experience. The platform needs a few details from you such as your phone number and a valid ID to successfully register your account. Since the specifications vary with each platform, it is advisable to keep your identification documents ready for ease.
Best Wallets To Store Your MultiversX (EGLD)
Wallets are essential to safely store your cryptocurrency. Choose a wallet wisely based on its security, user reviews and support for customers. The wallets listed below are good for storing EGLD.
- MultiversX wallet: This blockchain has a wallet that can be used to store MultiversX tokens. The desktop and mobile applications offered by this wallet allow easy management of currencies. This wallet allows you to store over 2000 crypto tokens.
- SafePal: SafePal is a non-custodial wallet with multiple crypto asset management services like cross-chain swapping. Along with an app and browser extensions, the wallet has an option for a physical wallet as well. It caters to users around the globe with over 15 operational languages and 15 million users.
- Ledger: Ledger is a hardware wallet that secures EGLD and other cryptocurrencies for its users. The Ledger Live app allows the buying, selling, and swapping of tokens in a simple way. The wallet comes in different designs and forms, each having its differentiating qualities.
