Elrond describes itself as the internet scale blockchain, designed to facilitate the new internet economy. It can host user-friendly decentralised applications (dApps) that enjoy high speeds, low costs, and scalability. This guide will show you how you can buy Elrond’s native EGLD token and explore what the project has to offer.
The easiest way to buy Elrond is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Elrond and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to safely by Elrond.
Start by deciding on a broker or exchange to use. Things to consider when making your choice include how easy the platform is to use and what fees it charges. You can check out our section on the platforms below for recommendations or sign up right now with one of our top recommended platforms.
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Trading in digital assets is considered high risk. Digital assets are NOT backed by any government or central bank. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting, holding, or trading digital assets is suitable for you in light of your financial condition.
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Go to the create account page on your chosen platform and fill in your personal information. You may also have to provide a photo ID and proof of address before your account can be verified. After that, head to the deposit page to fund your account with one of the payment methods supported.
Find the trading pair relevant to you—ie, if you made a deposit in British pounds, choose the EGLD/GBP trading pair. Create a buy order for the amount of EGLD you want. Make it a market order if you want to buy immediately, or a limit order if you would prefer to buy EGLD once it reaches a specific price.
Elrond is a programmable blockchain for building and hosting dApps. These dApps are ready for global adoption as Elrond provides a 1,000 times improvement over other blockchains in terms of speed, cost, scalability, and user experience.
While other blockchains, like Ethereum, can be slow and costly during busy times as they can’t handle many transactions at once, Elrond uses a technology called “sharding” that partitions the blockchain to enable transactions to be processed in parallel, meaning a much higher throughput.
Elrond also has a unique way of securing its network called Secure Proof of Stake, which is faster and more efficient than blockchains that rely on mining.
The system is fuelled by the network’s native EGLD token, which is used for staking, governance, and paying for transactions and smart contracts.
Different people often choose to invest in different ways, depending on their level of experience and goals. EGLD can potentially be profitable for both long-term and short-term investors, and we’ll explore both below.
This is the easiest strategy to employ as anyone can buy EGLD and hold onto it for the long term. You don’t need to be a technical analyst as buying and holding requires minimal time and skill.
While holding your EGLD, you can also stake it by delegating it to a network validator. Stakers are rewarded with interest in the form of more EGLD tokens.
Many long-term EGLD holders choose to self-custody their tokens in a private wallet. This gives them complete control over their assets and can provide more security. Software and hardware wallets are the most popular options.
Software wallets are free, easy to use, and can be downloaded for desktop or mobile. Hardware wallets such as Trezor, BitBox, and Ledger are more secure but you will have to pay for them and they may be less intuitive to use.
Like the rest of the crypto market, EGLD can be quite volatile in price. This can benefit traders as they aim to generate more regular returns by buying and selling EGLD over shorter time periods. This does, however, require more time and effort.
Private wallets are less suitable for traders as they would mean making regular transfers between wallets and exchanges. This is why traders often opt for less secure but more convenient web wallets, which are provided for free.
We can provide you with information about Elrond but whether to buy it is a decision you must make for yourself. The maximum supply of EGLD is capped, which could make the token a good store of value in the long term.
Another positive for EGLD’s value is the demand for it. Elrond provides attractive staking rewards, which incentivises people to buy more tokens and withdraw them from the circulating supply through staking.
There is further demand for EGLD from Elrond users and developers, who require the token for paying transaction fees and running smart contracts. As the network and its userbase grow, EGLD could become more valuable.
Elrond has already proved to be much faster, cheaper, and more scalable than many competitors, and its focus on enterprise use cases and global adoption could see Elrond become a key building block for the new internet economy.