One of the cryptocurrencies that analysts believe has the potential to rally in 2024 is Kaspa. Before investing in this digital currency, read this guide to learn more about it and how to purchase it.
Exploring Kaspa
Launched in 2021, Kaspa is a well-known blockchain that facilitates fast and cheap transactions. DAGLabs is the company behind this crypto project. Like Bitcoin, Kaspa has continued to use the proof-of-work consensus mechanism as many other blockchains migrate to other consensus algorithms. Kaspa is powered by its native token called KAS.
Top Platforms to Purchase KAS
Several crypto exchanges list Kaspa. However, not all are reliable. If you wish to buy the token, these are the recommended centralized exchanges to consider:
KuCoin
Established in 2017, KuCoin is a leading crypto exchange with a presence in 195 countries. The platform allows you to buy KAS using various payment methods. The buying process is simple, thanks to KuCoin’s easy-to-navigate user interface.
Bitget
This Singapore-based crypto exchange was launched in 2018. Besides its user-friendly interface, Bitget is known for employing tight security measures. The platform operates in more than 180 countries.
Bybit
With its deep liquidity, Bybit makes it possible for users to buy Kaspa as quickly as possible. The exchange is headquartered in Dubai, with a presence in nearly 100 countries.
Gate.io
This Cayman Islands-based crypto exchange has seen massive adoption over the past few years due to its comprehensive crypto offering and stringent security measures. Gate.io allows users in over 110 countries to trade KAS and other popular cryptocurrencies.
A Step-by-Step to Buying Kaspa
We will use KuCoin to buy KAS. Note that the following steps can be used on any other centralized exchange that supports the token.
Step 1: Create a KuCoin
Go to Kucoin.com and press “Sign Up.” Enter your email on the registration form and click “Create Account and Claim Reward.” Next, create a unique, strong password and verify your email.
Step 2: Complete Know Your Customer (KYC) Checks
To complete Know Your Customer verification, you must submit ID photos, proof of residence, and a selfie. Completing KYC checks unlocks several benefits, including the ability to buy Kaspa. After submitting the required documents, KuCoin will review them and give a response within 24 hours.
Step 3: Go to Fast Trade
Assuming your documents have been verified, click “Buy Crypto” and then hit the “Fast Trade” button to buy KAS. Select the fiat currency you want to use to purchase the token.
Step 4: Choose KAS and Specify Amount
Use the search bar to find KAS and select it. Specify the amount of fiat you want to spend on the digital currency, and KuCoin will immediately calculate the number of KAS tokens you will receive.
Step 5: Choose Payment Method
KuCoin supports several payment methods, from bank transfers to credit cards. Once you select your preferred method, check the details of the transaction, which include the amount of Kaspa to be received and processing fees.
Step 6: Confirm Your KAS Purchase
After reviewing the transaction details, agree to KuCoin’s terms and press “Confirm.” The exchange will then start processing your purchase. Click “Assets” to confirm if Your KAS tokens have been added to your KuCoin wallet.
How to Sell KAS
Converting your KAS to cash is super easy. Here is how to do it:
Assuming you haven’t transferred your KAS tokens to an external wallet, hit the “Fast Trade” button and choose the “Sell” option. Next, select KAS as the token you want to exchange for cash and enter the amount you wish to sell.
KuCoin will calculate the exchange rate and display the amount of USDT you will receive after selling KAS. If satisfied, click “Sell KAS” to receive USDT. After receiving your USDT, use the Fast Trade feature again to sell the stablecoin and receive cash using your preferred payment method.
Conclusion
Although several crypto analysts remain optimistic that Kaspa will rally this year, doing your own research before investing your hard-earned money in this token is advisable.
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