How to Buy PIVX - Where to Purchase PIVX?
Launched in January 2016, PIVX or Protected Instant Verified Exchange is an open-source and decentralised blockchain and cryptocurrency project. It is developed, governed and managed by a community through a decentralised autonomous organisation (DAO).
The native token of the blockchain is also denoted by the same initials i.e. PIVX. At the time of writing this article, the PIVX token was trading at $0.8466 per coin with a market capitalisation of more than $55 million. This guide will provide details of how you can trade and invest in PIVX coins.
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Why Trade rather than Buy PIVX 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 and Best Way to Buy? Compare the Top PIVX Brokers
When you are hoping to purchase or trade PIVX tokens, the main thing that you need to do is assess distinctive broker services as they provide the most convenient methods to trade cryptocurrencies. With brokers, you can open and close your orders rapidly, taking away the profit. We recommend that you assess the various available brokers and distinguish the one that takes into account your necessities in the most ideal way.
5 Things to Consider if you Want to Buy PIVX
You can't simply go out there and purchase PIVX without doing any exploration. In the event that you are committed to trading, it is suggested that you assess a number of variables to limit your risk.
1. Carefully choose your preferred secure payment method
The primary thing that you need to remember is that offered payment methods differ from one country to another. Since there are many payment modes, it isn't practical for us to discuss each strategy. However, some of the key factors that you need to consider include speed, security and reliability.
2. Will you need to set up your own wallet?
When your investment is for the long haul and you need to store your PIVX tokens for some time, it's suggested that you safely store your coins in a digital currency wallet. The web wallets that are incorporated into your broker or exchange account are moderately secure, but they are helpless against cyberattacks. This is the reason why it is a smart idea to limit your risk by setting up your own cryptocurrency wallet. In the event that you would prefer not to deal with a crypto wallet, the most ideal approach to put money into PIVX is through trading via CFDs.
3. Comparing costs
Before you put money into PIVX or some other digital currency, we propose that you think about the expense of trading PIVX coins. There are various sorts of charges that you should pay including network charges, exchange charges, and storage and withdrawal charges. These costs can diminish your overall financial gains. Then again, you can use digital currencies to trade PIVX tokens as this specific mode of payment is less expensive.
4. Safety and security
When you put money into PIVX or some other crypto project, you need to guarantee that it's safe and secure for you to do so. Unlike many other numerous altcoins, the PIVX community of developers has composed a robust code guaranteeing an undeniable level of security. It implies that each transaction that happens on the PIVX blockchain is decentralised as well as completely secure.
Some other key security highlights of the blockchain incorporate encoded public and private keys, distributed ledger and decentralisation. As a result, no single individual or association has an excessive impact on the digital currency or its blockchain. Every decision concerning the crypto project is made through the Decentralised Autonomous Organisation (DAO).
Moreover, the PIVX user's financial data is protected through an extensively customised, open-source deployment of the validated academic anonymity protocol zero-knowledge succinct non-interactive argument of knowledge (zk-SNARKs) Sapling. All of the user's transactions are secured by this protocol which is called SHIELD.
5. Can you understand and navigate the platform?
Since PIVX isn't simply just another digital currency available but an innovative venture that offers real-life applications to its users, the value of its coin has seen a considerable increase throughout the most recent couple of months. This looks good for the venture as upgraded ease of use can keep on driving the price of the token.
Another alternative that traders have is to use a digital money platform or a broker site to purchase PIVX coins. It is suggested that you make yourself acquainted with your favoured platform so you don't experience any difficulty as far as trading PIVX coins.
Ultimate Beginner’s Guide to Trading PIVX
What is a PIVX Broker?
Broker or trading sites are platforms that empower you to bet on the cost of PIVX without buying and holding tokens. As cryptocurrency trading becomes mainstream, online brokers have expanded in many countries to help investors put money into PIVX tokens and other digital currencies.
Since PIVX is relatively a newcomer in this arena, at present there are just a small bunch of trader websites that permit you to trade PIVX coins. Before you pick a broker, ensure that they have PIVX on their platform.
What is a PIVX CFD?
Contract for Difference, which is usually known as CFD, is a financial instrument that permits traders to open and close orders without really buying cryptocurrencies. With PIVX CFDs, you have the alternative to wager on the underlying price of the coin using purchase and sell orders.
Most likely the best benefit of trading CFDs is that they permit you to produce profits whether the market price is increasing or experiencing a plunge. If you buy PIVX coins, you will have no choice except to sit tight until when the price is sufficiently high to make significant gains. That is not the circumstance when you put money into PIVX through CFDs as financial gains are determined by the price direction of the coin and you gain money if your original bet is correct. You could short a coin if you think the price is going to fall or go long if you think the price will rise.
What is the Benefit of PIVX Regulation?
Since cryptocurrency trading, including purchasing and selling of PIVX tokens, is acquiring worldwide prominence, governments and administrative bodies all over the world are making new regulations to guarantee customer security. While these legislations add two or three more steps to the trading interaction, they guarantee the security of your own information and financial assets. Crypto brokers that follow these regulations are more secure than the ones that don’t comply.
What is the Best Payment Method for Buying PIVX?
When you need to purchase PIVX tokens, you can choose from a variety of payment methods. The availability of various payment strategies is subject to your country and your favoured trading broker or cryptocurrency exchange. This is the reason it is advised that you distinguish and assess various choices.
Buying PIVX with PayPal: PayPal has become the default payment technique for a dominant part of online businesses. Contingent upon the country you reside in and your chosen crypto platform, you can use PayPal to purchase PIVX tokens. However, there are a large number of other payment techniques that are undeniably cheaper when contrasted with PayPal. If you are hoping to purchase PIVX coins in a large quantity, PayPal is a reasonable payment mode.
You need to remember that PayPal isn't open in various countries all throughout the globe and only a couple of platforms work with purchasing through PayPal. In spite of the fact that PayPal has as of late found numerous ways to support crypto buying, it is not as popular as other payment methods.
Buying PIVX with Cash: While you don't need to pay any exchange charges when you purchase PIVX with cash, it is practically difficult to do so. The only way you can buy PIVX tokens this way is that you can discover a seller who is willing to sell PIVX coins at the value you need. Since this strategy is very risky, it is suggested that you investigate other payment techniques which are safer.
Buying PIVX with Bank Transfer: When you are hoping to limit your trading cost, purchasing PIVX coins through wire transfer is your most ideal alternative. You can use this payment strategy to send and get assets to and from a crypto broker. The only con of using wire transfer is that it is a slower mode of payment when contrasted with other payment techniques.
Buying PIVX with Credit Cards or Debit Cards: When you don't need to stress over transaction cost and basically need to buy PIVX coins as fast as could really be expected, you can use your debit or credit card. While the trading expense will be higher when contrasted with other payment strategies yet your transactions will be carried out immediately.
The Verification Process for Trading PIVX
When you join a broker or an exchange service, you should go through a process known as identity confirmation. Digital currency services need to do this to guarantee consistency with Know Your Customer (KYC) and Anti-Money Laundering (AML) legislation. To validate your identity, you can use any officially sanctioned documentation like your driver's permit or ID card. While it takes some time to confirm identity, it also guarantees the security of your own information along with your digital funds.
PIVX: Long vs Short Term Investment
Short-term trading is when you invest to exploit the price volatility of a token. This way you can acquire easy gains, however, the technique is riskier. The advantage is that you don't really have to buy PIVX coins as you can just wager on the price developments of PIVX tokens through CFDs and other financial instruments like options. You are not needed to set up a digital currency wallet.
Long term investment includes buying PIVX tokens through a platform and sitting tight for some time, which could be from half a month to a couple of years, to make the most of a significant price increase. Long haul venture requires total comprehension of the crypto project and the trading market. The potential gain of going for a drawn out trading technique is that you own the coins and aren't influenced by short-term value developments.
Why Buy PIVX rather than Trade?
There are a large number of users who keep thinking about whether it is more productive to trade PIVX coins or purchase them. You need to remember that both trading systems can be possibly beneficial, but there are a couple of potential advantages of purchasing PIVX coins that trading doesn't offer.
One of the significant advantages of purchasing PIVX is that you are the real proprietor of the coins. This implies that you can spend, store and sell the digital currency in the manner you desire. This is regularly used by long haul users who need to improve their profits throughout a long span of a couple of months to a couple of years.
Aside from that, when you purchase PIVX or some other crypto coin, you are participating in a safer endeavour. However productive as trading seems to be, unexpected increases and decreases in coin prices can often result in a loss. That is not the situation when you really purchase PIVX tokens as you can generally wait until the price of the coin recovers.
What Fees are involved in Buying PIVX?
When you are hoping to trade or purchase PIVX, you will need to consider additional costs while deciding the profitability of your orders. A portion of the expenses incorporates network expense, exchange charges, commissions, deposit fee and withdrawal charges. A portion of the significant costs that you need to consider incorporates the following.
Transaction Fees: Since PIVX transactions happen on a blockchain network, the validating cycle requires resources so the users who have contributed their assets to approve transactions can be compensated. By and large, transaction charges range somewhere in the range of 0.1% and 0.3% of the aggregate total. These charges will vary depending upon your favoured crypto platform. That is the reason it is crucial to discover a platform that empowers you to keep your transaction expenses at an insignificant level.
Deposit Fees: While the greater part of the platforms and brokers don't charge any deposit expense any longer, there are a few services that actually do. At the point when you are surveying different crypto platforms, find one that doesn't charge deposit expenses.
Withdrawal Fees: Like deposit expenses, withdrawal charges also will vary depending upon your chosen crypto platform. There are numerous platforms that won't deduct any expense for pulling out your assets. The majority of the services that don't charge any deposit expense will not additionally charge you any withdrawal fee.
Safely Storing Your PIVX
In order to hold your PIVX coins in a safe manner, you will require a digital crypto wallet. Crypto wallets can be found in various forms including the following.
Web Wallet: The wallets that exist in your platform account are called web wallets. They give the best accessibility to your assets yet they are the most powerless against hacks and cyberattacks.
Mobile Wallet: When you need to buy and sell PIVX tokens from any place, the most ideal alternative for you is a mobile wallet. These wallets are particularly made for your phone and offer an assortment of safety features alongside flexible usefulness. You can use the mobile version of Atomic Wallet to store your PIVX coins.
Desktop Wallet: These wallets are like desktop applications that you can install on your PC. Despite the fact that they don't offer speedy accessibility and ease of use of mobile or web wallets, they are more feature-rich and secure. You can discover highlights like two-factor confirmation and passphrase security in these types of wallets. Atomic Wallet is one of the broadly used desktop PC wallets for storing PIVX.
Hardware Wallet: When you need the most significant level of safety to store your PIVX coins, the most ideal choice for you is a cold or hardware wallet. They are called cold wallets since they don't have any equipment installed that can be used to initiate a network connection. You fundamentally store your private keys on an actual gadget that has no network access. It additionally implies that you need to guarantee the security of your wallet as you can only get access to your coins when you have the gadget. A portion of the top wallets incorporates Ledger Nano S and Trezor.
Wallet Combinations: Another way to store PIVX coins is to use a combination of different types of wallets. This will allow you to get the best of both worlds as you can have the security of hardware wallets for your long-term trades while enjoying the accessibility of web or mobile wallets for short-term trading.
What Other Coins Can I Trade or Use to Buy PIVX?
When you would prefer not to use regular cash to buy PIVX tokens, you can use other digital currencies like Bitcoin and Ethereum to purchase PIVX. The most well-known digital forms of money to purchase PIVX incorporate ETH, BTC, ADA and XRP. With cryptocurrencies, you don't need to pay the exchange charges for deposits that can eat into your benefits.
What’s the Smallest and Largest Amount of PIVX I Can Buy?
Since digital currencies are unpredictable as far as cost is concerned, numerous traders need to know the base amount or part of coins they would need to purchase for their venture. Since there is no upper limit to PIVX tokens, you could purchase as many as you want but check your local laws to find out about any restrictions on maximum investment. There is usually no restriction on lower limits but the exchange may require you to invest a minimum amount.
Can I Buy PIVX Anonymously with no ID? Is it Safe and Legal to Buy PIVX?
It is highly recommended that you use a regulated brokerage or exchange service to invest in PIVX tokens since they ensure the security of your personal information as well as a digital asset. It may be possible to exchange PIVX anonymously through an unregulated platform or P2P service.
If you are certain about buying a PIVX token anonymously through a specific broker or exchange, ensure that you have complete knowledge of the service. This will guarantee the security of your own information and assets. Remember that anonymous transactions can't be traced so in case you lose your funds, it’s absolutely impossible to get them back.
Will Buying PIVX Make Me Money?
Bringing in profits with trading PIVX coins absolutely relies upon your methodology. This is a query that you should answer yourself. If you are interested in learning more about the price history of PIVX, please visit our PIVX Price Page.
How to Spend your PIVX
The essential aim of the PIVX blockchain is to offer a decentralised and instant way of sending and receiving funds. That is the reason it can't be spent in a traditional way to purchase stuff on the web. What you can do is buy more mainstream currencies like Bitcoin with your PIVX tokens and afterwards make your purchase.
How to Sell your PIVX
Selling PIVX coins through a brokerage website is relatively easy. The most ideal approach to sell your PIVX tokens is through an exchange or a broker. When you have PIVX CFDs, you can sell them quickly through a broker as transfer of coins from a wallet is not required here.
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Frequently Asked Questions
Initial conceptualisation of PIVX can be traced back to three individuals who go by the aliases of s3v3nh4cks, Coin-Server and Stakebox.
Yes. Most platforms will insist on identity verification as part of KYC regulations.
Unfortunately, that's not possible as PIVX uses the Proof of Stake protocol.
PIVX is controlled by a community that is invested in the project. No central authority or a single individual has control over the project or its native token.
This depends on the country you live in. Before investing in PIVX coins or any other digital token, ensure that it’s legal to trade cryptocurrencies in your country.
Just like any other cryptocurrency, PIVX price is also dependent on multiple market factors including fluctuating supply and demand.
The primary objective of the PIVX network is to provide a secure and instant way to validate transactions. That’s why it is potentially possible for PIVX to become a major payment facilitator.
This also depends on the country of your residence and its tax regulations.