SSVCoin is an open-source cryptocurrency that uses a proof of stake consensus algorithm. This ERC-20 token is used to stake rewards in the SSV blockchain. SSV is a platform that provides a decentralized and secure Ethereum network. It is designed to promote decentralization, security, liveness, and openness across the Ethereum consensus layer.
SSV.network is a fully decentralized and robust Ethereum staking network. Using this network will be open and easy for anyone who wants to use it. From DIY users to staking pools and large institutions, everyone can participate in providing service and earning rewards for doing so. Below, we share how simple steps on how to buy SSV. Read on.
A quick guide on buying SSVCoin token
If you are looking to buy SSVCOIN anytime soon, then you will be glad to find out that the process is quite simple. Outlined here are the steps that you should take.
Step 1: Create a Binance account
The very first step that you should take is creating an account on Binance. This process involves filling out your information and verifying your account.
Step 2: Deposit into Binance
Now that you have verified your account, the next step that you should take is depositing into your new account. You will be able to deposit fiat currency into your account using Paypal, credit card, debit card, or bank transfer.
If you deposit with a card or PayPal, your funds will appear in your account instantly. However, if you choose bank transfer, you may have to wait for your funds to clear first before proceeding with the next step.
Step 3: Buy BTC/ETH
You will not be able to buy your coins using fiat currency. Therefore, you will need to convert your funds to crypto. We suggest that you buy Bitcoin or Ethereum first. To do that, just navigate to the buying page and choose your preferred crypto, verify the purchase and proceed.
Step 4: Buy SSV
The final step is to make sure that you trade your crypto for SSVCoin. To do that, simply choose the correct trading pair. Enter all required details, confirm the details, and buy your coins.
Exchanges to buy SSVCOIN
Binance
Binance has been dominating the scene. One of the biggest advantages offered by Binance is that of lower fees. Exchanges charge little while users enjoy high liquidity charts that make possible instantaneous purchases and selling in a moving market.
Luckily, many countries across the world allow Binance operation on THORChain, these include Australia, Singapore, and the UK while those from the USA are barred. Though Binance is barred from the USA, it still maintains large customer bases in many countries across the world and it looks highly probable that it will grow so huge to disband any form of competition.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
Gate.io
Gate.io is a more ideal exchange that has a lot of guarantees. The most fantastic feature of Gate.io is the user interface. Very friendly to beginners and they can actually move up the charts to become specialists and professional technical traders.
Gate.io was launched in the year 2013 and from then it has been creating a huge base of altcoins for many users. You can easily maneuver in the market with Gate.io. For those trading in the USA, this is the best choice.
Step-by-step Buying Guide
- Sign up for an account
- Complete the KYC verification process
- Fund your wallet
- Choose a trading pair and buy
eToroX
This platform was launched in 2007 and has grown to be one of the most trusted brokers due to its safety and security. Recently, it started offering cryptocurrency trading and most traders prefer it due to its user-friendliness.
Step-by-step Buying Guide
- Sign up for an account at eToro
- Verify your account
- Fund your account
- Buy your coin
MEXC Global
The MEXC Global project was created to provide a platform for the development of new technologies and solutions in the field of blockchain, smart contracts, artificial intelligence, machine learning. The main goal of this project is to create an ecosystem that will allow users to use their own resources to develop applications on top of the MEXC Blockchain. This way, all projects are based on open source technology and have no hidden costs or limitations.
Step-by-step Buying Guide
- Sign up for an account and verify it
- Make a deposit using a card, PayPal, or bank transfer
- Buy Ethereum or Bitcoin using your fiat currency
- Trade Bitcoin or Ethereum for your token
Crypto.com
This exchange is about 5 years old, having been launched in 2016. However, in such a short space of time, it has managed to gain a great reputation and become a trusted platform worldwide. On the platform, you will be able to trade cryptocurrencies conveniently due to the various services on offer.
On the platform, you can buy 100+ cryptos at true cost. Not only that, but you will also be able to manage your visa card offered by the platform, earn interest on your crypto, make crypto payments, and so much more. Another great feature is that the company has a non-custodial DeFi wallet. As a result, you retain full control of your private keys.
Step-by-Step Buying Guide
- Sign up on the platform and provide your ID and selfie for verification
- Fund your account
- Tap on the Trade button
- Click Buy, and then your chosen crypto. This lets you choose your preferred coin
- Add your card and follow the secure link provided
How SSVCoin project is different
SSV coin is a new type of digital currency that was created by the team behind SSCoin. It has been designed to be an easy-to-use, fast and secure payment system for online transactions. The main goal of this project is to create a decentralized network where users can make payments without having to trust any third party or central authority. This will allow them to send money directly from one person to another with no intermediaries involved in the transaction.
The first version of SSV Coin was released on January 1st, 2017. Since then it has grown into what we know today as SSVCoin. To understand how SSV works you need to have some knowledge about blockchain technology. Blockchain is a distributed ledger which means all information stored within its database is shared across every node connected to it.
SSV uses the Proof Of Stake consensus algorithm meaning that nodes who hold more coins get rewarded when other people use their services. Nodes also receive rewards if they complete certain tasks such as validating blocks, creating new ones, and so on. These incentives encourage good behavior among participants while at the same time preventing malicious activity.
Things to consider before buying SSVCOIN
Certain aspects should be looked at before you proceed with your purchase. Having a look at these things before you do anything will help you decide if you are making a good/bad decision. Mentioned below are some of those things to consider.
Your risk tolerance
When investing in cryptocurrency, you should have a high-risk tolerance. Because crypto values are not always stable, there is no guarantee that the value of your investment will not drop dramatically. For every story of someone making money with cryptocurrency, there are also stories of people losing it all.
Where and how you play to buy
Always do your homework on where and how to buy it. There are many unregulated exchanges, so you need to be careful about where you buy. You also need to be aware of the level of security and insurance offered at each exchange.
Where to store SSVCOIN token
The different wallets discussed below are used for storing crypto. You just have to choose the method that’s more secure and suits your situation.
Hardware wallet
Hardware wallets are becoming increasingly popular among cryptocurrency investors. They are designed to store cryptocurrencies offline and protect against theft.
Hot wallet
A hot wallet is a digital wallet that stores your cryptocurrency in an online exchange account. This type of wallet is considered a safe place for storing your crypto because you can access your funds at any time.
Because users store their cryptocurrency on a website, if the computer gets hacked, they lose all their money. Therefore, this wallet is often used for trading purposes.
Paper wallet
Paper wallets are an excellent way to store your cryptocurrency. They are also known as cold storage because they are stored offline and away from the internet. However, there are times when you might want to access your funds quickly. In these situations, a hardware wallet is the best option.
Privacy and security tips
The most important thing is that you always keep your coins safe and secure. Discussed below are some of the steps you can take to ensure your coins are free from hackers.
i. Keep your private keys safe
The most important thing is that you should always keep your private keys safe. If someone gets access to them, they can steal all of the funds in your wallet and make off with it. This could be a problem if you are using an online casino or gambling site because these sites will often ask for your login details when making deposits or withdrawals. You need to ensure that no one else has access to this information so that they cannot use it against you.
ii. Secure Your crypto Wallets
A crypto wallet stores digital currency like Bitcoin, Ethereum, or Litecoin. It allows users to send and receive payments in exchange for their coins without having to pay any fees. The most common type of crypto wallet is an online web-based service that lets you access your funds from anywhere using just a computer or mobile device. You can use it on desktop computers as well as smartphones and tablets. Make sure you always keep your wallets, either hardware or software, secured using various methods that are available to you.
iii. Back-Up All Your Crypto Data
The best way to back up your crypto wallet is with a hardware wallet, and the most popular one right now is the Ledger Nano S. It’s small enough that you can carry it in your pocket or purse, but still offers all of the security features needed for storing large amounts of cryptocurrency safely offline. If you’re looking for an easy solution then this might be worth checking
iv. Enable 2-Factor Authentication
2-factor authentication refers to an extra layer of security added to your account login process. This means that if someone tries to access your account from another device they will be asked to enter not only your username but also something else – usually either a code sent via text message or a number generated by a mobile app. The idea behind this additional step is to make sure that people accessing your account aren’t logging into it using stolen credentials.
v. Avoid public Wi-Fi
If you are using a public wi-fi hotspot, be sure to avoid logging into any accounts or downloading files. This is because hackers can use this information to gain access to your account and steal money from it. If you have an online banking app on your phone, make sure that the password for your bank has not been shared with anyone else. Hackers will often try to get people’s passwords by asking them if they know their login details.
F.A.Qs
Can I buy SSVCoin using cash?
No, you first have to convert your cash to a cryptocurrency like Bitcoin. Next, you can go on and trade your Bitcoin for SSV.
Is SSV a good investment?
There is no way of telling because the value of crypto goes up and down all the time. The best thing to do is buy it when the price is low and sell it when the price skyrockets.
Conclusion
SSVCoin is an open-source cryptocurrency based on the Bitcoin protocol. It was created by a group of developers who wanted to create a new coin that would be able to solve the problems associated with Bitcoin.
The coin has been designed to be a secure, decentralized currency that allows people to send payments quickly and easily without having to worry about third parties.
