Crypto & ReviewsBuying Anchor Protocol is difficult for some people who might be new to cryptocurrency. People wants to study the coin first before going into learning the processes of buying the coin. As such, this article should provide the easiest way of buying the cryptocurrency with little or no knowledge about it. This should solve that problem of studying the coin first.
There are simple ways to buy Anchor Protocol or any other cryptocurrency. These methods requires you have an idea of what the coin or token is about and what you can use it for. For those familiar with P2P, that is another effective way of buying Anchor Protocol.
Person 2 person (P2P) is the transfer of product from one person to the other. This can be in exchange for money or other services.
For those new to cryptocurrency, this easy methods should guide you.
Anchor Protocol can be used outside its original use which it was designed for; It can be traded for or as an investment (Anchor Protocol trading) or can be held (hodl) until the value goes up.
For investors, check out the price prediction of Anchor Protocol for the next 10 years to further aid your research.
How To Buy Anchor Protocol (ANC)
To buy Anchor Protocol, you will need to buy a more stablecoin. It’s easier to use USDT for this transaction. If you have USDT already available in your wallet, you can move over to the next step.
If you haven’t bought Bitcoin yet, go through this easy steps on “How and where to buy USDT”
Step 1: Transfer USDT to an Altcoin Exchange
To convert USDT to Anchor Protocol, I’ll recommend we use HotBit as our exchange.
N/B: HotBit is available to all US users.
HotBit is one the popular exchange to trade altcoins and it has a large number of tradable altcoins pairs.
To start, register and create a new account on HotBit using this link:
Fill in your name, email and choose a simple password only you can remember. Go through the verification processes and confirm your identity. Also verify your email. Ensure to activate 2FA authentication to keep your account safe.
After registration and going through the KYC processes, which should usually take 30 minutes. In some cases, few days maximum. For first timers, the process should be straight-forward and easy to follow. Once you’re done with it, you should have full access to your exchange wallet.
Step 2: Deposit USDT to exchange
Locate your USDT wallet on the HotBit app or web (Whichever you are using). At the box on the right, you will see a string of random numbers saying ‘USDT address’, this is a unique public address of your USDT wallet at HotBit and you can receive USDT by giving this address to the person to send you the funds. Since we are now transferring our previously bought USDT on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard.
Go back to Coinbase or wherever you have your Bitcoin, select the Portfolio page and click on USDT on your asset list, then click on ‘Send’.
Paste the wallet address from your clipboard in the recipient box (for security consideration, always check if both addresses matches each other). Click ‘Send’ to proceed.
A confirmation email will be sent to you instantly, click on the confirmation link in the email and your USDT will reflect on HotBit after confirmation.
Step 3: Trade or Buy Anchor Protocol (ANC)
After confirming your USDT in your HotBit wallet, open your HotBit app or web and click ‘Exchange’. Locate the right column where there is a search bar, make sure “USDT” is selected as we are trading BTC to altcoin pair. Click on it and type in “ANC”, you should see ANC/USDT, select that pair. A price chart of ANC/USDT will pop up in the middle of the page.
Choose the “Market” tab because that is the most straight-forward type of buying orders. You can manually type in your amount or choose what portion of your deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click “Buy ANC”. After some seconds or within minutes, your ANC will be credited into your Anchor Protocol wallet.
Do you have any good and easy method that have worked for you?
Share it on the comment section below.
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