How to Buy Aeternity - Where to Purchase AE?
Aeternity is an open-source development platform for building advanced blockchain applications that millions of users can use. The protocol offers support for many blockchain features such as state channels, oracles, a naming system, as well as secure, functional, and highly efficient smart contract language (Sophia) and virtual machine (FATE). The protocol seeks to eliminate the inefficiency within the crypto market by increasing the scalability of smart contracts and dApps. This guide will focus on how to buy Aeternity (AE) tokens on various exchanges and using brokers and determining if it's a worthy investment.
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Why Trade rather than Buy Aeternity for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit / debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top Aeternity Brokers
Brokers represent the easiest way to buy Aeterntity since they act as intermediaries and place trades for you. By choosing brokers to buy this asset, you don't have to stress about buying the actual asset and having to store it safely using wallets. Also, they are accessible from almost every corner of the planet and offer demo accounts to guide you on how to use the platforms.
5 Things to Consider if you Want to Buy Aeternity
Before you start your journey of buying Aeternity, there are a few things you need to pay attention to, such as the payment modes available, if you need a wallet, the safety and security and if the platform is easy to use. Below is a brief description of each.
1. Carefully Choose Your Preferred Secure Payment Method
The first thing you need to pay attention to is the payment modes available to purchase Aeternity. Is it convenient for you and safe? Most platforms that offer support for this digital asset will have various options to make the purchase, such as bank transfers, credit/debit cards, third-party payment processors, and the use of other cryptocurrencies. It's up to you to decide which mode is best for you according to the available options. The most common modes to fund your account will be using credit/debit cards and third-party payment processors for brokers. As for exchanges, some of the favorable options might not work depending on your location and your country's crypto regulations. This might make it hard to fund your account, and the only way to access this digital asset is through peer-to-peer (P2P) exchanges, where you can use your local currency to purchase BTC or ETH before moving it to an exchange that supports Aeternity and swapping the coins.
2. Will you need to set up your own wallet?
Another factor you need to consider is if you will require to set up a crypto wallet to store your coins. If your goal is to buy and hold the tokens for a while or trade them on an exchange, it makes sense to source for a safe private wallet initially before embarking on buying the asset. This is the first step you need to take if you plan to invest in Aeternity for a while. However, if your goal is to trade financial instruments attached to the coin using a broker, you don't have to worry about acquiring a private wallet.
3. Comparing Costs
Various platforms that offer access to Aeternity will have different charges for buying and selling this digital asset. This is another factor you need to pay attention to since it can impact your bottom line. Especially for traders, fees can accumulate and take a chunk of your profits.
4. Safety and security
How safe is the platform you choose to make your purchase? This is another important question you need to ask yourself when starting out. Many people have lost their money by choosing platforms that are straight-up scams or those with inferior security measures to protect user funds. Here you want to go with a platform with a good reputation over the period it has existed. One that employs high levels of security to protect user funds and offers you additional features to protect your accounts, such as using two-factor authentication (2FA), email and SMS notifications.
On the other hand, you want to know how secure is Aeternity as a digital asset. There have been cases of protocols getting hacked and user funds getting stolen. As a digital currency, Aeternity uses cryptography, decentralisation and consensus to secure its network. This stops incidents of 51% attack where bad actors take over half the hashing power on the network and change transactions to their favor. Also, you get to store your coins in private wallets that offer additional security for your investment.
5. Can you understand and navigate the platform?
The other thing you need to consider is how easy it is to navigate the exchange or broker you intend to use to buy Aeternity. Top platforms always try to offer simplistic user interfaces that are easy to use for buyers of all skill levels. This prevents beginners from getting intimidated by the prospect of interacting with various aspects of the platform. It's good to avoid platforms that you feel you don't understand how to navigate since if you proceed to purchase your tokens here, there is a chance you could make a mistake and lose your funds. Also, great platforms will have tutorials once you sign up on how to interact with various features offered.
Ultimate Beginner's Guide to Trading Aeternity
What is an Aeternity Broker?
Brokers are intermediaries that help execute trades on behalf of users. Top brokers consist of well-established companies that offer users access to various financial instruments around the globe. These instruments include stocks, commodities, forex, cryptocurrencies and indices.
Online crypto brokers present one of the easiest ways to access Aeternity and profit from the asset. They have become popular with the growth of the global financial market and are accessible from any corner of the planet earth. Unlike crypto exchanges which might have restricted access in some corners depending on regulation, brokers will even use affiliated partners to be accessible in any region.
Also, it's easy for anyone as long as they are of legal age to access them since the initial capital required to run an account isn't much.
What is an Aeternity CFD?
CFD stands for contract for differences, and it's a financial derivative that serves as a contract between you as the trader and the broker offering the instrument. An Aeternity CFD allows traders to exploit the volatile price of the asset using leverage where your capital receives a boost, thereby increasing your exposure within the market.
Using the instrument, you will speculate whether the price of Aeternity will go up or down and whichever way you get to profit as long as you are correct. However, it's not easy money as it sounds since you need to understand trading to make the most of CFDs. This means understanding how to conduct technical and fundamental analysis to make accurate predictions on the likely direction the market will take. One incredible thing with dealing with CFDs is you don't have to worry about acquiring and storing Aeternity tokens since you won't be dealing with the actual asset.
What is the Benefit of Aeternity Regulation?
Regulation helps keep fraudsters away and safeguard your investment. The crypto market is quite young, and regulators are coming up with frameworks to govern the industry to combat the rampant scams that have stolen billions of dollars from unsuspecting investors. By establishing guidelines that brokers and exchanges have to meet and abide by, regulators stop scam platforms from existing, eliminating the possibility of users losing their money.
What is the Best Payment Method for Buying Aeternity?
Below let's go over the many modes of payment available to buy Aeternity. Most of these will be accessible on top platforms, and it's up to you to choose the one that appears most convenient to you.
Buying Aeternity with Debit/Credit Card This will be the most common mode of purchase you will likely come across on most cryptocurrency exchanges and brokers where you sign up. For exchanges, you will go to the "Buy" tab, where you will select the currency you would like to buy, then enter the amount you would like to spend. Select the payment mode, which in this case is a credit/debit card, enter your details, including your card number, and proceed to complete the transaction.
Brokers will ask you to fund your account before you access financial instruments attached to Aeternity. This means that you will have to go to the account funding process, select a credit/debit card and then enter the amount you intend to use as your capital or even the bare minimum required before proceeding to trade.
Buying Aeternity with Crypto Most exchanges will offer the option to buy one crypto with the other, especially for those that list many coins. To use this mode successfully, you need to open an account on an exchange that supports Aeternity and check the coins you can swap the asset for or the allowed trading pairs. If it's possible to swap with BTC, then proceed to buy Bitcoin and then convert it to Aeternity. Since the coin isn't one of the most common tokens, it's not uncommon to find exchanges that support the token but don't offer direct purchase using the common modes such as the use of bank transfers and credit cards. This is where you need to get your hands on the readily available tokens before making the swap.
Buying Aeternity Peer-to-Peer Another popular mode you can buy Aeternity is using the Peer-to-Peer (P2P) method. This mode is mostly supported by decentralised exchanges where you negotiate with the seller and agree on the price before you make payment, and they release the tokens to you. The good thing with this mode is you get to trade using your local currency, something that might not be possible using other modes since P2P platforms will support many personalised ways to facilitate transactions. If you can find one that supports Aeternity, you can go for it. Also, where access to crypto assets is highly limited due to regulations and maybe the only way you can make a purchase is using your local currency, which isn't supported on the top platforms that support the token, you can access a P2P platform to purchase a popular coin such as BTC or ETH before transferring it on an exchange that supports Aeternity and making the swap.
Buying Aeternity Using Third-Party Payment Options The other mode you will find to make the purchase is using third-party payment processors such as PayPal, Skrill and many others. This is as simple as using a credit card, and you need to follow the necessary steps to complete the transaction.
The Verification Process for Trading Aeternity
To be allowed to buy and sell this digital asset on exchanges and brokers, you will have to verify your account since these platforms have to abide by certain rules and regulations to stop criminals from using them to launder money. Usually, you will be required to upload a photo of your national ID/passport and a selfie, or the platform may request a video call to confirm if it's you who appears on the document. You will also need to verify your residence by uploading a utility bill such as a bank statement or water bill that isn't more than three months old. The documents will be checked, and if everything is good, your account will be verified.
Aeternity: Long Vs. Short Term Investment
There are two ways to go about investing in this digital asset; short-term and long-term investment. Short-term investing involves active trading, where you exploit the volatile price of the asset using various strategies such as day trading, scalping, trend, and swing trading to make profits. These strategies require investing time and resources to learn how to conduct technical and fundamental analysis if you are going to make the most of these strategies. You can use brokers to make the most of the daily price volatility of the asset by trading CFDs with potentially higher returns.
A long-term investment is characterised by buying and holding Aeternity for a long time, sometimes even years. This doesn't require much technical know-how to make the most of this strategy. Also, you won't be concerned too much about the daily volatility of the asset or even the entry price since you expect the asset's value to grow with time as the project sees increased adoption. However, you will need a hardware wallet that can offer maximum protection for your investment.
Why Buy Aeternity rather than Trade?
When starting with cryptocurrencies, it can be puzzling when you have to decide if you should engage in long-term investing, which involves buying and holding the tokens, or short-term investing, where you actively move in and out of positions to exploit slight price movements. For the individual who lacks the technical know-how to participate in short-term investing strategies listed in the section above, you stand to benefit from buying and holding this asset. All you need is a private wallet to store your private keys. You can set aside a bunch of funds and buy the asset periodically, especially when the price dips, and by doing this, grow your portfolio with time. By doing this, you will be less stressed and won't spend much time studying the market.
What Fees are Involved in Buying Aeternity?
Below let's explore some of the fees you are likely to encounter when buying this digital asset.
Transaction Fees Different platforms will charge different fees when it comes to buying and selling Aeternity. You need to pay attention to these fees, especially if you are a trader, since they can impact your bottom line. On exchanges, you will experience network fees that are part of the transaction fees.
Deposit Fees These fees will stem from the payment processor you choose to use to fund your account. Exchanges and brokers will not be charging any fees for this activity. Therefore, you have to consider the fees charged by various payment processors and see who charges fair fees or even no fees as long as you don't compromise on the quality of service you receive.
Withdrawal Fees These are fees associated with taking funds from your trading account if you're a broker or taking your coins from an exchange. They comprise network fees for sending tokens from one wallet to another.
Safely Storing Your Aeternity
Below let's go over the many options you have when it comes to storing Aeternity. These wallets offer differing levels of security and accessibility, and your choice will be based on your demands. As you will see in the last section, you are not limited to a specific type of wallet and can combine various wallets for better convenience.
Web Wallet These are the most common types of wallets you will come across when dealing with exchanges. They exist as exchange-provided wallets or browser extensions. The latter is safer since you get to store your private keys. However, the problem with this wallet is it's less secure since it's always online.
Mobile Wallet These are applications you install on your smartphone that allow you to store your crypto coins and manage your portfolio from the device. They can be from popular exchanges or from companies that specialize in designing such software offering higher levels of security and convenience as you can access your coins on the go. An example of this is Atomic wallet.
Desktop Wallet This is software that you download and install on your PC that offers the users complete control over their wallet since they hold the private keys. This type of wallet functions as an address for the user to send and receive their coins with higher levels of security. They offer convenience for those that want quick access to their Aeternity tokens. An example of this is Atomic wallet.
Hardware Wallet These are physical devices that resemble flash drives. They help store your private keys offline since they are mostly not connected to the internet, and by doing this, they offer the highest level of security. They host applications where you can store various coins, including Aeternity, and are ideal for long-term investors and people with large investments in the token. Ledger and Trezor are good examples of such wallets.
Wallet Combinations Let's say you are involved with Aeternity in the short term and long term. You can combine two types of wallets that offer convenience when it comes to easy access and managing your portfolio and hold a hardware wallet that lets you safely store the coins you are holding for the long term.
What Other Coins Can I Trade or Use to Buy Aeternity?
On platforms where Aeternity is offered, you will find that it's possible to buy the token using other paired tokens such as BTC, ETH or even USDT. As discussed earlier, if you don't find an option to buy Aeternity directly on such a platform, you can purchase any of the tokens that allow you to swap for the tokens.
What's the Smallest and Largest Amount of Aeternity I Can Buy?
One Aeternity token goes for about twenty cents. Most exchanges will have the minimum amount you can buy when it comes to most tokens since there are fees that need to be covered. This will be like $10, which will get you around 50 AE tokens at the current price. As for brokers, they have the minimum amount you can use to fund your account. This varies with different platforms and can be $100, $200 or $250.
Can I Buy Aeternity Anonymously with no ID? Is it Safe and Legal to Buy Aeternity?
It's possible to buy Aeternity anonymously without disclosing your personal information using a decentralised exchange. These exchanges allow users to buy and sell tokens from each other in a peer-to-peer manner, but you will have to do your due diligence when it comes to security. Most operate on a reputation basis where users get to rate each other depending on the trading experience. Suppose you are not careful; it's easy to get scammed. So even though centralised platforms will ask for personal information, which might not be ideal to privacy lovers, they offer a higher level of security for your investment.
Will Buying Aeternity Make Me Money?
There are no guarantees in crypto, just like it's the case in life. However, the cryptocurrency space has made many individuals wealthy. The people that got in early on various projects have seen their investments multiplied tremendously as these projects have witnessed increased adoption. The same goes for Aeternity, as its blockchain attracts more users expect to see its tokens rise in value.
How to Spend your Aeternity
Aeternity tokens have utility on the protocol's ecosystem where they are used to pay network fees, reward miners, and even fuel smart contracts and other transactions. It's possible to spend the tokens at merchant points where they are accepted and buy whatever you wish. Also, since it's possible to convert your tokens into fiat, you can spend them as you want.
How to Sell your Aeternity
The selling process is as easy as the buying process. It can be done on a centralized exchange where the token is supported where you get to set your price, and the platform will execute the sale once the market hits that price. You can also do it Peer-to-Peer if you find a platform that supports the token. It is easy to sell and close the trade if you are using CFDs as many exchanges provide automatic trading through the use of robots.
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Frequently Asked Questions
No. This is a decentralised cryptocurrency that isn't controlled by a single entity.
This protocol addresses some of the issues with the first generation of blockchains. It's engineered to accommodate large-scale enterprise use cases.
This platform was launched back in 2016.
AE has a circulating supply of 337,033,881.5 tokens.
This platform was launched by Nikola Stojanow and Yanislav Malahov.
Yes. Most reputed exchanges and brokers will insist on KYC verification and this step is to provide a safe and secure trading environment for all users.
This depends on how much you have planned to invest in the asset. It can be $50, $100, $1,000 or even $10,000. Most exchanges and brokers will ask for a certain minimum amount that you need to invest. It's possible to start small and grow your investment over time.
This protocol uses the Proof of Work (PoW) consensus mechanism.