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How to Buy Ark (ARK) in 3 Simple Steps

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Author: Ali Raza Updated: January 25, 2022

Ark (ARK) is the governance coin of the Ark Public Network (APN), which enables users to create their own fully customisable blockchain. The project aims to make blockchain technology more accessible by providing users with the necessary building blocks.  

Ark has seen significant growth since it entered the market in 2017 at approximately $0.06 per token. It experienced a big surge in 2018 during the Bitcoin bull run before tapering off. It has now once more caught the interest of crypto investors. This article covers everything you need to know about and before you buy Ark. 

Buy Ark in 3 Easy Steps

Create a free account

Fill all the requested information using your personal data accurately. Check your inbox for a confirmation email and log in with your selected email and password.

Fund your account

Choose your favourite payment method and follow the steps to make your first deposit. The minimum deposit amount might change depending on your location.

Buy Ark!

Search for Ark on the list of available cryptocurrencies. Use a "Buy Order", choose the amount of ARK to buy, set up other trade details and confirm the order.
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5 Things to Consider if you Want to Buy Ark

There are some factors you should consider before you make your first Ark purchase. These are discussed below. 

1. Carefully choose your preferred secure payment method

Online brokers and crypto exchanges offer several secure payment options for buying assets. The options that are available to you will depend on your location. For instance, investors in Asia shouldn’t expect to see the same options as US users. This is an important factor to consider because it’d suck for you to go through the sign-up and verification process only to learn none of the available options suit your needs. 

3. Will you need to set up your own wallet?

It is good practice to set up a secure cryptocurrency wallet that you have 100% control over, especially if you want to hold Ark as a long-term investment. Exchanges automatically make web wallets for new users, but these cloud-based wallets are always online and are vulnerable to hacks and theft. 

Investors who are entering into CFD (Contract for Difference) agreements can skip this step. Dealing with crypto derivatives doesn’t require setting up a wallet because these contracts are usually settled in fiat money.

3. Comparing costs

Blockchain networks charge network fees that are typically paid out to miners who confirm transactions. For the Ark blockchain, that amount is 0.1 ARK. There are also platform-specific fees such as deposit fees, withdrawal fees, and processing fees that you should consider. It’s a good idea to compare the fees and costs of Ark transactions on various platforms to make sure you get the best deal.  

4. Safety and security 

The Ark platform is designed to function as a launchpad for customisable blockchains, so security is naturally a big concern for its development team. Unlike Bitcoin and other cryptocurrencies that use resource-intensive Proof of Work (PoW) consensus mechanisms, Ark uses a Delegated Proof of Stake (DPoS) consensus mechanism to secure the network. The blockchain has 51 active delegates who stake their cache of ARK tokens and use their resources to secure the network in exchange for block rewards.

Traders who are conscious about security should combine the built-in security features available on the ARK blockchain with the security protocols provided by exchanges and brokers, such as two-factor authentication and private key encryption. 

5. Can you understand and navigate the platform?

Ease of use is an often neglected consideration. Take the time to familiarise yourself with how your chosen broker or exchange platform works. Learn how to navigate the platform, what fees it charges, and how long transactions take. The best platforms have in-depth tutorials to walk users through every step of the process. Remember, blockchain transactions are immutable by design, so you can’t get a refund if you make a mistake. 

What Fees are Involved in Buying Ark?

We’ve briefly talked about the importance of comparing fees and costs associated with purchasing ARK. Now let’s take a look at specific fees that you should consider before you commit to a platform.

  • Transaction fees: All broker and exchange platforms charge some type of fee to verify transactions. These are platform-specific fees that aren’t charged by the Ark blockchain. The exact amount depends on the platform and the type of payment option you use. As mentioned earlier, bank transfers generally have the smallest fees, while payments made with credit cards have the highest. 
  • Deposit fees: Some platforms take a small percentage of the deposit amount in fees. Brokers in particular don’t charge deposit fees to encourage traders to sign up. 
  • Withdrawal fees: These are fees a broker or exchange takes when you cash out. It is typically a small percentage of the withdrawal amount, but it can sometimes also be a fixed rate. 

Safely Storing Your Ark

Security is incredibly important when handling cryptocurrencies. You must find a secure wallet for your Ark tokens, especially if you plan to hold on to the tokens as a long-term investment. Below are some examples of software and hardware wallets that support ARK

Web Wallet: These are cloud-based wallets that can be accessed through a browser. Brokers and exchanges usually make web wallets for users when they sign up. They’re convenient, but not recommended for long-term storage because the hosting platform has access to your private keys. If anything were to happen to the platform (i.e. hacks, theft or bankruptcy), then you could lose your tokens forever. 

Mobile Wallet: Mobile wallets are basically storage apps designed for smartphones and tablets. They are a step above web wallets in terms of security, but they are not the safest option because they are constantly online (i.e. hot storage). If someone steals your phone or somehow gains access to your device, then you could risk losing your assets. The best mobile wallet for ARK tokens is the ARK Wallet, which is available on Android and iOS.

Desktop Wallet: These are wallets that are designed for laptops or PCs. Desktop wallets are much more secure than web or mobile wallets because they have advanced security protocols. However, they are still considered a hot storage option because they are vulnerable to cyber hacks and theft. A good example of a desktop wallet for Ark is the official Ark Desktop Wallet. 

Hardware Wallet: These are physical wallets that look like USB flash drives. They are considered the gold standard for crypto storage because they offer completely offline storage. Hardware wallets are recommended for long-term storage of ARK or any other cryptocurrency. A good example of a hardware wallet that supports ARK is the Ledger Nano S

Wallet Combinations: It is common for investors to make use of multiple wallets for better security and convenience. A trader might use a desktop wallet that is interlinked to a hardware wallet for quick and secure transfers. For instance, the Ledger hardware wallet can be connected to a desktop version of the wallet called Ledger Live. It’s a convenient way to facilitate transfers and check your balance. 

What Other Coins Can I Trade or Use to Buy Ark?

Ark has a reasonably high daily trade volume, so it is possible to Buy ARK with Bitcoin, Ethereum and other cryptocurrencies through major exchange platforms. Exchanges offer traders “trading pairs”, which are a combination of two different digital assets to facilitate easy trades. For example, depending on what platform you use, you could buy ARK in an ARK/BTC or ARK/ETH pair. 

What’s the Smallest and Largest Amount of Ark I Can Buy?

Most exchanges have a minimum ARK buy limit of at least $10. Brokers have higher limits of $50 to $100 or more. 

If you want to buy small amounts of ARK, then you should consider using an exchange. However, since the value of one token is so small, it may be difficult to buy less than one ARK token. You may need to buy a whole ARK token or more on most platforms. There is usually no higher limit unless required by local laws and regulations.  

Can I Buy Ark Anonymously with no ID? Is it Safe and Legal to Buy Ark?

One of the biggest allures of cryptocurrencies is complete user privacy. The world is becoming more privacy-conscious, and that has translated to interest in digital currencies like ARK that could potentially offer transactional anonymity. The bad news is that financial regulators have already stepped in to control the crypto market, so you’ll be hard-pressed to find an exchange or broker that lets you buy ARK with no verification. Reputable platforms require users to verify their identity to comply with KYC and AML rules and facilitate secure ARK purchase.   

But it’s not all gloom and doom; it’s still possible to buy ARK anonymously. You simply have to cut out the middleman and find an individual who will let you buy ARK without ID. There are crypto peer-to-peer (P2P) platforms designed to connect buyers and sellers for this exact reason. They offer an alternative way to buy ARK safely without giving out your personal information. 

Will Buying Ark Make Me Money?

An often-asked question on cryptocurrency forums is: “Does buying ARK make you money?” It’s only natural for investors to want to buy ARK to get rich, but unfortunately, there are no guarantees in the crypto world. You can learn investment strategies and use fundamental and technical analysis indicators such as upcoming announcements about ARK, what companies or who is buying ARK, and historic price movements to make an educated guess. However, you can’t eliminate all the risks. 

Investing in cryptocurrencies is always a gamble, so focus on the present and strike while the iron is hot. Check out our Ark Price Page for information on the best price to buy ARK. 

How to Spend your Ark

Ark has a few use cases with more plans for the future. As a governance token, Ark can be used to vote for delegates who function as nodes that secure the network. It currently costs 1 ARK token to cast a vote for a delegate and 1 ARK to change a vote.

The Ark team has also announced partnerships with crypto payment processors like Spend.com to give ARK holders in the US the ability to spend their assets on goods and services. This partnership includes access to virtual and physical debit cards that work with Google Pay and Apple Pay. 

How to Sell your Ark

Ark has a reasonable trade volume, but it still has a long way to go. It’ll be hard to find convenient ways to directly switch your tokens for fiat currency. Currently, the best way to sell ARK tokens is by trading them for more popular cryptocurrencies and then cashing out in fiat money. 

Another option is to use CFDs that are tethered to ARK. Thanks to the explosion in crypto trading, it has become relatively easy to off-load crypto derivatives using broker platforms. 

Frequently Asked Questions

  1. ARK is available on exchange and broker platforms that support the currency. Look up trading pairs that include ARK on major exchanges to start your purchase.
  2. It may be difficult to find a platform where you can directly sell your ARK tokens for fiat money. A good alternative is to trade your ARK for a more popular cryptocurrency like Bitcoin or Ethereum, and then convert that into fiat currency.
  3. It depends on your investment risk profile. ETFs are a fairly new phenomenon that have experienced a boom. As such, they’re quite volatile, so trade your own risk.
  4. ARK was deliberately designed to be fast and scalable. New blocks are generated every eight seconds, making ARK one of the fastest altcoins on the markets. It is capable of processing 150 transactions per block.
  5. Ark uses a Delegated Proof of Stake (DPoS) consensus mechanism to verify transactions and add new blocks. There are 51 delegates elected by the Ark community to function as nodes.
  6. The ARK Desktop Wallet for PCs and ARK Wallet for mobile are the two official wallets for the project. ARK holders must use these wallets to stake tokens and cast votes.
  7. The Ark blockchain was first launched in 2016. The governance coin ARK was launched a year later in 2017.

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