Tarot is a decentralised lending protocol built on the Fantom blockchain that facilitates the non-custodial lending and borrowing of tokens using crypto as collateral. This page will explain how to buy the protocol’s TAROT token and why it has value.
The easiest way to buy Tarot is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Tarot and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to safely buy Tarot.
Start by installing a Web 3.0 wallet such as MetaMask. It will use the Ethereum network by default so you will need to click on the network and then “Add Network” in order to enable the Fantom network. You will be taken to a page where you can fill in the details of the network you want to add, which can be found here.
You will need FTM before you can buy TAROT so find a broker or exchange that offers it. Fill in your details on the registration form, provide a photo ID if necessary to verify your account, and then make a deposit and buy some FTM. A regulated and reputable platform will be the best option and our top recommendations are below.
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Go to the withdrawals section of your platform and paste in the address of your wallet in order to send your FTM to your wallet. Next, head over to Zapper, click “Connect Wallet”, and grant access. Now click the Exchange tab on Zapper and set the “From” and “To” currencies as FTM and TAROT respectively to make your swap.
To get hold of TAROT, you need to start by finding a broker or exchange that offers FTM and there are several to choose from. It is wise to consider their security, fees, and what features they offer before making your choice. We’ve already shortlisted the top platforms that offer FTM to help you get started.
You should be well informed about a project before deciding to invest in it. Here are a few things for you to consider that might affect the value of TAROT.
Competitive Fees. There is a very low fee for borrowing on Tarot and no fees for lending. What’s more, Tarot is built on the Fantom network where gas fees are extremely low. This is in stark contrast to Ethereum where gas fees can skyrocket and make it uneconomical to use Tarot’s Ethereum-based competitors.
Attractive Earning Opportunities. Tarot users benefit from the ability to lend crypto without suffering from impermanent loss. Meanwhile, borrowers have the opportunity to earn more tokens through leveraged yield farming. There are also lending aggregators that let users stake tokens to earn yield across multiple lending pools through automated strategies.
Token Benefits. TAROT is a governance token, letting holders vote on key parameters such as interest rates, fee rates, and the distribution of fees. It can also be staked to receive TAROT rewards, enhanced yield, and other benefits. With a finite supply of TAROT, the growth of the project and its user base could see the token become more valuable in the future.
Want to find more hidden gems in the Fantom ecosystem? Check out our top 5 Fantom projects to invest in!