Gitcoin is an altcoin that combines Ethereum and Github, where the subject matter and the work are matched, and then paid within the same system. What Gitcoin does is that it will present developers and programmers with the best freelancing opportunities, and then the developers will get paid in Ethereum.
That means there is really no need for a third party going between the work and the freelancer. This altcoin is mostly preferred due to the security that it offers. On top of that, because there is no third party involved, transactions are lightning quick. Below, we teach you how you can buy Gitcoin in easy steps. Read on.
A Quick Guide on Buying GTC
Step 1: Register on Fiat-to-Crypto Exchange
The first step that you will need to take is to purchase any major cryptocurrency that you prefer. For example, you could choose, Ethereum, bitcoin, or Litecoin.
Step 2: Buy BTC/ETH with fiat money
It should be noted that there is a KYC process that needs to be completed before you proceed. After that, you will be required to add a payment method, which can be a bank transfer or a debit/credit card.
At this point, you will have to choose “Fiat” from the number of currencies on offer from the “From” field. On the “To” field, you can then choose your preferred cryptocurrency, as mentioned earlier. You can then review your transaction and confirm.
Step 3: Transfer your cryptos to an Altcoin Exchange
Before you continue, you will need to understand that GTC is an altcoin. Because of that, it needs to be on an exchange where it can actually be traded. That means you will need an exchange in order to continue.
You will need to create an account on the exchange, for example, Binance. After providing all the required information, make sure that you set up 2-factor authentication to add an extra layer of security. You will also need to go through a KYC process before you can have full access to your new account.
Step 4: Deposit BTC to exchange
On the screen, you will be able to see a BTC address that you will use in all your transactions. To transfer your previously bought crypto, you will need to click on “Copy Address” and return to your previous exchange and give the address to whoever is going to be sending you the funds that you require.
To buy GTC on the site, you must go back to the Transact screen where you will choose the cryptocurrency that you would have earlier settled on from the “From” field. You must then specify the amount that you want and complete the process.
Remember, you will need to use your BTC address here in order for the funds to be processed. After you have reviewed all the details, go ahead and confirm the transaction. You will be sent a confirmation link to your email. Clicking the confirmation link allows your funds to be processed. If you don’t see any money yet, do not worry as it might still be under the verification process.
As soon as your money arrives, a Binance confirmation notification will be sent to you.
Step 5: Trade GTC
Finally, you can go back to your exchange (in this case, Binance) and trade your bitcoin for GTC.
Exchanges to buy Gitcoin
Binance is one of the main crypto buying and selling platforms on the market, having about 200 coins that it supports for transactions. The platform is known to offer competitive rates, which makes it the very best and most inexpensive platform to use, whether you are a newbie or a pro dealer seeking to exchange.
Binance accepts customers from around the globe, which is why it has become a favorite worldwide.
How to Buy Gitcoin on Binance
First, download the Binance crypto trading app or sign up using your email and phone number. After creating your password, you can start trading. You will be able to use cash (via credit or debit card) to buy Gitcoin on Binance.
If you prefer, you can buy from other traders on the Binance P2P platform.
This is the main mainstream crypto exchange platform in the United States, becoming the go-to for all new crypto investors. Coinbase offers various services such as a wallet for retail investors, a trading platform, crypto investing, as well as its own stable coin.
The company was established in 2012 and is a totally regulated and authorized cryptocurrency alternate. it accepts various crypto such as Litecoin, Ethereum, XRP, Bitcoin Cash, XRP, and many others.
How to Buy Gitcoin on Coinbase
Sign up using your name, email, and password. Next, you will need to add a payment account, as well as your debit card or bank account. On the top-right corner of the Coinbase website or app, you will see the ‘trade’ button, which allows you to choose Gitcoin from the list of cryptocurrencies available.
After previewing your purchase, you can confirm all the details before the transaction is confirmed.
0x protocol runs on the Ethereum blockchain, which offers great security. Another advantage is that any gas fees associated with trading operations are greatly reduced. This is because any transaction that you make will run through the Ethereum network only after the trade has been finalized.
How to Buy Gitcoin on 0x Protocol
Firstly, create an account with a brokerage that supports the 0x token, such as Coinbase. You will then need to link your banking information. You can then provide all information needed before you can buy Gitcoin on the 0x platform using your crypto wallet.
- IMBTC/USD, etc.
This is a decentralized exchange, offering the best possible exchange rates. The platform supports over 24 liquidity sources and in order to offer the best price, it will split orders between various exchanges.
How to Buy Gitcoin on 1inch
Go to the website and click on Buy. Next, you will need to choose the coin that you want to buy, as well as specify the amount of coin that you would like to buy. You must then choose your preferred payment provider and continue after reading the ToS and disclaimer.
After reviewing all your information, you must verify your personal information and provide KYC documents.
How Gitcoin Project is Different
The Gitcoin community uses web3 technology to solve some problems, build digital public goods projects, as well as fund those projects. The minimum amount of cryptocurrency that you will be able to send through the blockchain is 0.000000000000000001 GTC, while the maximum is 20,700 GTC.
The blockchain does not require a recruiter in the middle and still, it is able to match various developers, as well as programmers. On top of that, the blockchain can pay those individuals within the same platform.
Things to Consider Before Buying GTC
i. How much you want to invest
It’s important that you figure out how much you want to invest so that you don’t strain yourself financially. Also, deciding how much you are looking to get back from your investment will help you to decide how much you should put on the line.
ii. How you will store your digital assets
It’s key that you keep your digital assets safe and private. Not doing so will lead to losses. Therefore, make sure that you do thorough research in order to find out how best you can store your digital assets.
iii. The technology and its value
It makes a lot of sense that you research the digital currency so that you understand how it works, as well as see if it’s valuable. This stops you from making irrational decisions.
iv. The tax implications
You will need to make sure that you take the time to consider the tax implications first before you can invest. The tax implications will vary, depending on the country that you are in. this saves you from future complications.
Where to Store Gitcoin
Here, hardware wallets are, without a doubt, more advanced as compared to cold wallets. They are USB-enabled devices that store all your wallet’s records much longer and safer. They are designed using high-end safety, and their firmware is always up to date, making them very secure.
A lot of users prefer Binance because the trading fees are much lower as compare compared to other exchanges. On top of that, the exchange offers high-speed trade execution. No matter the currency that you choose, you will be able to find it on Binance.
3. Trust Wallet
What makes this wallet different is that it is a decentralized wallet. Not only that, but users are able to earn interest. To do that, users will have to stake their currencies. Supporting over 160 digital assets, this wallet has a built-in web3 bowser. As a result, you will be able to get access to Ethereum-based decentralized apps.
Privacy and Security Tips
If you are like most people who have decided to take control of their crypto wallets, holding everything in a private wallet, then you will have to make sure that you are careful. In fact, to avoid losses, you will have to make sure that your funds and keys remain private, no matter what. Below are a few security tips to implement.
- 2-factor authentication is the latest technology in online security. Therefore, make sure that you enable it.
- Never make the mistake of publishing your pin code or recovery sheet online. This is in the event that you decide to use a hardware wallet.
- Don’t keep cryptocurrency in exchange for a prolonged period or longer than necessary.
- When dealing with crypto, make sure that you never use a real name or an address that people will be able to identify. Doing so puts you at risk of burglary.
- Make sure that you verify all information before you transact to avoid losses.
Cryptocurrency is the next big thing in the world of trading and online purchases. The great thing about that is that you get to use various coins that are decentralized and also offer high security and low fees. you can give Gitcoin a try today in order to reap all its benefits.