You want to buy Elrond, but you are confused about how to proceed with all the methods available to you. This guide is here to help. Find out now how to buy EGLD step by step with Binance.
On which platform to get Elrond crypto?
For buy elrond cryptocurrency, choosing the exchange you are going to use is the first step. There are several offering the EGLD crypto, each with their characteristics that will suit you or not.
Thus, you can make this choice based on criteria such as ease of use, reputation or even the costs of buying and withdrawing the EGLD.
Binance being the major exchange platform globallythis is the one we suggest you use for buy EGLD in this guide, particularly for its ease of use. Indeed, Binance is the market leader with tens of millions of active users, and has established a very good reputation among investors.
Buy EGLD on Binance »
Below is a table where the main platforms offering Elrond are compiled according to several criteria to guide you in your choice to buy EGLD crypto:
Quick way to buy Elrond with Binance
By following this short tutorial, you will be able to buy Elrond with Binance in just a few minutes. This exchange platform is very reliable, as evidenced by its PSAN status, granted by the Autorité des marchés financiers (AMF).
Start now by creating your account on Binance. To do this, click on the following button and you will receive 10% lifetime discount on your trading fees :
Create Binance Account »
Click on “Register by phone or email” then fill out the form. Finalize the registration by clicking on ” Create an account “.
You are now at the very important step of verifying your account using an identity document. Mandatory procedure according to French legislation, it is a question of proving your identity to the exchange platform to link it to your account.
Once verification is complete, you must wait until Binance validates your account. When this is done, you are finally ready to buy EGLD. Click on the top left of the Binance interface on “ Buy cryptos » :
You are free to choose the deposit method you will use, knowing that the difference is in the fees levied by Binance. For the bank transfer 1 euro, and for the bank card 1.8% on the amount of your deposit. We choose here Bank deposit since the costs are the lowest there.
Check that you have chosen the Euro in the field ” Currency and continue until you land on this page:
Be sure to select ” USD ” in the framework of ” Spend ” and ” EGLD ” in the framework of ” Receive “. All you have to do is enter the amount in euros you want to invest in Elrond (100 euros in our example). The conversion into EGLD tokens is automatic at the market price.
The final step is to make the payment with the deposit method you have previously selected. Note that depending on the method chosen, this step is not necessarily at the end.
Congratulation ! You now have EGLD tokens! You are free to do what you want with them, such as sending them to an external wallet.
👉 Need more detailed explanations? Here is our opinion and complete tutorial on Binance
Buy Elrond with other platforms?
The Elrond crypto is very well known among investors in the cryptocurrency industry, so it makes sense that it is listed on other platforms like FTX and Bitpanda
These platforms each have their own characteristics in terms of costs or ergonomics. Some of them offer optional services like stakingwhich offers investors the opportunity to earn passive income with EGLD crypto.
You can obviously take advantage of this service even if you have purchased EGLD on another platform, all you have to do is simply transfer your EGLD tokens to the platform of your choice.
Focus on the Elrond project
Elrond is a public layer 1 blockchain that supports smart contracts like Ethereum or NEAR Protocol. She tries to stand out emphasizing security and scalability.
In terms of scalability, the Elrond blockchain is capable of process 15,000 transactions per second and to offer near-instantaneous transaction execution, while charging very low fees. Decentralized applications on Elrond can thus be very efficient and competitive.
This is made possible with an innovative solution developed by the development team of the Elrond project: Adaptive State Sharding. This technique consists in distributing the data in the form of shards (fragments), in order to spread out the storage in memory.
Another particularity of the Elrond blockchain is its consensus algorithm called Secure Proof of Stake (SPoS), or Secure Proof of Stake. In concrete terms, at each block creation cycle, the algorithm selects validators very quickly (100 ms) using an unpredictable and non-influenceable method. This ensures a certain robustness to the Elrond network.
The Elrond blockchain is also interoperable with 13 other channels including Ethereum, BNB Chain or even Fantom thanks to its integration with Chainge Finance, a multi-chain decentralized finance (DeFi) application.
Finally, Maiar app developed on the Elrond network allows users to transfer fiat money and cryptocurrencies very quickly and cheaply. It also offers a non-custodial wallet and plays a crucial role as an economic engine within the Elrond ecosystem.
The native cryptocurrency of the Elrond blockchain is the EGLDan acronym referring to digital gold.
👉 To dive deeper, check out our detailed analysis on the Elrond blockchain
Is it a good plan to buy Elrond in 2022?
The EGLD token of the Elrond blockchain ranks 40th in the ranking of the most valuable cryptocurrencies in the sector, with an estimated valuation of $1.4 billion at the time of this writing. It is therefore a popular project with investors.
Elrond’s Logo (EGLD), by Cryptoast
However, the first thing that can be noted is the significant drop in the price of EGLD since the end of 2021. Indeed, since its peak in November 2021, its course has decreased by about 88%. The bear market that we went through is probably in question, but perhaps the token was also overvalued in 2021.
Anyway, let’s watch the activity of the Elrond project lately to try to determine if it still presents an investment opportunity in 2022.
In January 2022, Elrond made the acquisition of Utrusta platform allowing merchants to accept cryptocurrencies as a means of payment. Elrond was thus able to use its blockchain for the solutions developed by Utrust.
In the process, in March 2022, Elrond finalized the acquisition of Twispaya Romanian financial institution providing international payment services, with the approval of the Romanian Central Bank. Elrond can thus operate in the European Economic Area through this acquisition.
This clearly demonstrates the strategy of the Elrond project, which is to offer secure, efficient, highly scalable and cost-effective payment services to as many people as possible using its blockchain.
We strongly recommend that you do your own research on the Elrond blockchain to determine whether or not it is worth buying its EGLD token.
Buy EGLD Crypto »Is it worth buying EGLD in 2022?
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FAQ: frequently asked questions about Elrond
When did the Elrond blockchain mainnet start?
The Elrond project completed a fundraiser in June 2019 on Binance Launchpad, raising $3.2 million. Its mainnet was then rolled out on July 30, 2020.
What are the possibilities offered by the EGLD token?
EGLD is a utility token which makes it possible to pay all the costs relating to the processing of transactions, the execution of smart contracts or the operation of a node on the Elrond blockchain.
It is also a governance token which allows voting for or against proposals from the Elrond project community, depending on the number of EGLD tokens held.
Owning EGLD tokens also allows you to generate passive return with staking and thus participate in securing the Elrond network.
How to track EGLD course and price?
You want to know the EGLD course in euros or in dollars? Here is our EGLD price monitoring page compiling all the information relating to this token in real time: price chart, token valuation or number of tokens in circulation.
What to use to protect your EGLD tokens?
You are in possession of EGLD tokens, but you wish to protect them from possible hacks for example. The use of a digital wallet is therefore the minimum to protect against it. You must use a wallet supporting the Elrond networkthe best known of which is the Maiar wallet.
For a higher level of security, opt instead for a physical wallet like the Ledger Nano S which offers the best possible protection for your EGLD tokens.
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Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Master student in International Finance, I have been interested in cryptocurrencies since June 2017 and more particularly in fintech and decentralized finance. I aspire to make my contributions interesting for readers of all levels.
