Buy Augur Crypto Currency explanied by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about how to Buy Augur CryptoCurrency.
How To Buy Augur Crypto Currency?
Augur is a “reputation token” that can be used on the Augur platform built on the Ethereum blockchain. The Augur platform is “a trustless, open-source, decentralized oracle and prediction market”. In simple words, the goal is to democratize and the decentralize finance by allowing anyone to create and speculate on derivatives at very low cost.
The role of the Augur tokens is to secure Augur by having REP holders judge the outcome of prediction markets created on the Augur platform. There is a circulating supply of 11,000,000 tokens. The Augur tokens cannot be used as payment anywhere, but can be used for trading.
So, if you want to get some Augur, this is what you can do:
1. Buy Augur for Bitcoin or Ether. For the purpose you need to get one of those or both cryptocurrencies, if you don’t have them already. You can buy them on Coinbase – a major and reputable exchange that has relatively low trading fees for credit cards – just 4% and accepts other methods of fiat payments like PayPal in some countries.
2. Once you have Bitcoin or Ether, you should open an account at a platform that offers the Augur in exchange for those cryptocurrencies. There are not that many of those, but we are going to mention just majors like Kraken, Bittrex, Poloniex and Upbit. Some also offer the option to buy Augur for fiat currencies.
3. Transfer your Bitcoins or Ethers to the exchange you chose and buy the Augurs. Most exchanges do not charge any fees for cryptocurrency deposits.
There is a simpler and generally faster way to get Augurs – you can buy some with fiat currency. Unfortunately, there are just a few exchanges who provide this option and some of them have either geographical or other restrictions. Perhaps the most obvious choice is Kraken, which is a major exchange with solid reputation, a lot of coins, good trading platform and decent trading conditions. On Kraken you can buy Augurs for EUR. The exchange also offers margin trading, but bear in mind that generally the customer service is not very helpful. Other exchanges where you can buy Augur for fiat currencies are Mr. Exchange (JPY and USD), RippleFox (CNY), Exrates (USD), Livecoins (USD) and Upbit (KRW).
In theory, you could also trade in CFDs on Augur, if you don’t need the token itself, but this instrument does not appear in the portfolio of any regulated forex broker. Generally, trading with such companies is safer, as they are abiding by strict rules and requirements, but they mostly offer CFDs on major cryptocurrencies like Bitcoin and Ether.
If you would rather store the Augur in your own wallet, instead of on-exchange, which is generally not very safe, there are some e-wallets who support this token: Jaxx, MyEtherWallet and Exodus, for example.
To buy the coin you can sign up with a cryptocurrency broker, you can use Plus500, XM, eToro, Fxpro or AvaTrade crypto currency brokers.
How to Buy Augur CryptoCurrency Conclusion
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