How To Buy Crypto Onchain

How To Buy Crypto Onchain

September 15, 2023

The world of online money continues to grow, and the standout feature is cryptocurrency. If you’re a current or potential cryptocurrency investor, you may want to know how to gain more currency for your portfolio. Buying crypto onchain can be fun and rewarding, but it also has many risks as you may have heard about. Read on to gain insight into how to safely find new coins and what to look for regarding scams.

How To Find New Coins

Did you know you could use social media to find new crypto coins? The platform X/ formerly known as Twitter, has been a helpful resource for doing so. Many crypto developers, enthusiasts, and influencers use the platform to share various insights and opinions about the currency. Many of their accounts often post various opportunities and about things going on in current development projects. Just be careful to use the platform as a resource and not as a one-size-fits-all source of all your cryptocurrency information, just like any other platform or source, there may be people on there who are unscrupulous and looking to scam you.

How To Scan For Scams

Regardless of what type of investment you make, scams are part of the norm. When it comes to an unregulated platform such as cryptocurrency, scams can get out of control if you don’t know what to look for. So whenever new coins pop up, do your research before spending your hard-earned funds. Become acquainted with crypto token scanners that can scan for such scams and sniff out malicious attacks or fake tokens. Don’t forget to check review sites and see what current users have to say about a cryptocurrency coin. Sites such as Reddit, Decrypt, and CoinGecko are some that may be of help to you.

How To Buy

Once you’ve done your research and have a coin in mind that you want to add to your investment portfolio, you need to take the right steps to buy it onchain. You can use Uniswap, which is a decentralized exchange network that allows you to swap any ERC-20 token for another one without any fees. The only thing you need to use the platform is the coin address and a crypto wallet like Trust Wallet or Metamask.

If you’re unsure how to find your potential cryptocurrency coin address, you can always check the website first. If it’s still not obvious, then check Etherscan. From there, go to Uniswap’s website and connect your trust wallet. Then select the token you want to swap from as well as the one you want to swap to. The next step involves entering the amount and simply confirming the transaction. In those simple steps, you have purchased a crypto onchain.

As you can see, the actual steps to buying new or swapping existing cryptocurrency aren’t complicated. The most intensive part is doing your due diligence to ensure you’re not being scammed. So protect yourself and your assets by taking advantage of the above online tools and other resources.

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