The Crypto world offers a lot of possibilities. There are tons of currencies you can trade, invest in, or simply keep as savings. In order to be safe and successful in this market, you should be very careful. Sadly, there’s a lot of shady work going on here, and scammers are everywhere. The key to being as safe as it gets is to be informed and thorough when looking for necessary information online.
This article will hopefully be of use to you. We are going to talk about one of the cryptos, and you can use this article as a guide if you decide to buy it. This currency is called Ergo.
What is Ergo Crypto?
Let’s start by introducing this currency to you. Ergo Crypto was launched in 2019. It has its own secure blockchain and it works on DeFi principles. The creators made this programmable blockchain with features of some of the most popular blockchains in the world. The Ergo chain uses the proof-of-work safety protocol from Bitcoin, and some features of Ethereum are used to enable the DeFi features.
Ergo’s token is ERG. At first, the ERGs were only able to be acquired by mining or you could buy them from owners directly. What is interesting about Ergo blockchain is that it doesn’t require gas (transaction) fees. There’s also a special scripting language for developers. It’s called Ergoscript and it is said that it’s made to be more functional and practical for programmers to use.
Ergo takes pride in a strong and friendly community. You have multiple ways of joining the online community, including the official Reddit subreddit, and Discord channel. Ergo’s Reddit is currently counting over 15,000 members and they’ve dubbed their group Ergonauts (a word that seems to be made from the myth of Jason and the Argonauts and their quest for Golden Fleece) which seems pretty suitable, as there are miners looking for tokens – “gold”.
Now that you are familiar with this coin, we will try to explain how to buy Ergo crypto and where. You can check the official Ergo website for further information.
How to buy Ergo crypto coins
You can get coins on multiple centralized and decentralized crypto exchanges. The best and easiest answer to how to buy Ergo crypto, according to their crew, is to do an exchange with any stablecoin. When you buy some coins of your choice, you can simply transfer them to an exchange that supports Ergo and do your exchange there. Some of the exchanges that support Ergo are Kucoin and Coinex, and they also have their own exchange called ErgoDEX. You can see the full list on Ergo’s website.
If you choose to buy ERG by trading another coin for them, the steps are pretty much easy and straightforward.
To begin, you need a wallet of your choice. The procedure is mostly the same on various sites where you can get cryptos. Firstly, you should make an account on the desired site. After that, you need to pass the acc verification phase. Some sites offer a two-step verification process, some need a photo ID to accept your account. Basically, you should just follow the instructions and you will see what should be done in order for your acc to be verified.
After you are past this process, you can now deposit your money into the account. The easiest option is to deposit money in fiat currencies and then buy some cryptos. The payment methods and options differ from site to site, but in most cases, you can make a bank deposit, or pay with a debit or a credit card. After you’ve deposited the preferred amount, the next step is to choose and buy a stablecoin. When your transaction is done, you can simply exchange these coins for ERG on any exchange platform that supports Ergo.
On the other hand, some websites apparently allow you to directly buy ERG and pay for it in fiat currencies. We do not suggest you take this info for granted, because there is somewhat contradictory info online about this. Take your time to research if you are more interested in that option. Buying ERG with other cryptos is a really simple process, so you already have a secure and granted option to get your coins.
After your purchase, you can store and keep your ERGs in your preferred wallet. A hardware wallet can be a great option and a safe and simple-to-use one.
The future of ERG
As data suggests, the ERG coin value went up over 50% in a year. Regardless of the recent falls, this coin seems to have a good prognosis for the next couple of years. The situation on the market has not been the greatest recently. We have all heard about the market crash and the fear of incoming crypto winter. Even the most valuable coin in the world, Bitcoin, had its moments of crisis.
It is certain that the market is going through some unfortunate things, but crypto enthusiasts still believe that it is going to be short-term. As for ERG’s future, in particular, we have already mentioned that people do have positive opinions. You can always turn to the Ergo community to discuss the matters with other people that are perhaps more experienced crypto players.
The ERG coin seems to be slowly getting out of the shadows. It looks like it will get more popular as time goes by. What is important to know regardless of the coin you are interested in is that you need to be cautious with your money and investments. The market can be as unstable as any other market, and people are still a bit confused by what exactly it is, and how it works. Cryptos can seem abstract for people that do not have much knowledge of the technology world.
What we can offer you as a bit of advice is to be persistent and learn as much as you can. Knowledge can never be a disadvantage, remember that. The best you can do for your money and safety is to be prepared for anything and be smart about your choices.
Anthony White is an altcoin investor and crypto miner. He got interested in cryptocurrencies in early 2017, and has been hooked ever since. He started mining Ethereum in his basement in late 2017, and has been mining various other coins since then. He is passionate about the potential of blockchain technology to revolutionize many industries, and is excited to be a part of the cryptocurrency community.