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How to Buy xDai
- What is xDai?
- Where to Buy xDai?
- How to Buy xDai(XDAI) From DEX?
- What to Do After I Buy xDai
- Frequently asked questions
What is xDai?
Gnosis & xDAI community has merge their tokens & together develop the xDAI Blockchain under the name “Gnosis Chain” w/ an ambitious technical roadmap.
The xDai chain is a stable payments EVM (Ethereum Virtual Machine) blockchain designed for fast and inexpensive transactions. The chain uses a unique dual-token model; xDai is a stable token used for transactions, payments, and fees, and STAKE is a governance token used to support the underlying POSDAO Proof-of-Stake consensus.
Gnosis Protocol is a fully permissionless DEX (decentralized trading protocol), it supports a new mechanism called ring trades to maximize liquidity.
The GNO token is the native token of Gnosis Protocol, the purpose of the GNO tokens is to facilitate the provision and receipt of prediction market services through the open-source protocol created and released by the company that provides the infrastructure and tools for creating prediction market applications.
Where to Buy xDai?
According to the current information collected by CoinCarp, you can't buy xDai directly with fiat by traditional financial methods(such as Paypal or Bank Cards).
To buy xDai, you'll need to purchase another cryptocurrency that can be easily purchased by fiat, such as ( USDT, BTC, ETH, or BNB) first, and then send them to the crypto exchanges or crypto wallet which supports xDai trading.
Many crypto exchanges or crypto wallets provide USDT over-the-counter (OTC) trading services and support buying USDT with fiat currency. In that case, it is easy for you to choose a crypto exchange or crypto wallet to buy, sell, and trade USDT with your local fiat currencies, such as USD, EUR, TRY, PHP, etc. You can select from one of the crypto exchanges and crypto wallets that support OTC USDT trade listed by CoinCarp:
Huobi Global
Binance
Kucoin
Coinbase
OKX| Exchange | Pairs | Price | Volume | Volume% | 24h% | Updated |
|---|---|---|---|---|---|---|
 AscendEX | XDAI/USDT | $0.9989 | $296,974 | 100.00% | 0.90% | Recently |
How to Buy xDai From CEX?
Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
- Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. ( Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
- Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
- Step 3: Use fiat to buy USDT, ETH, or BNB. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card.
- Step 4: Transferring your USDT, ETH or BNB, etc. purchased by fiat to the CEX that supports xDai trading in spot market. If the CEX that you're using both supports purchasing USDT, ETH, or BNB via fiat, and xDai-USDT, xDai-ETH, or xDai-BNB, etc, trading pair, then you can trade in the same platform and don't need to transfer to another platform that supports xDai.
- Step 5: Buy xDai in spot market by USDT, ETH, or BNB.
Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. As for the tax issue, you may consult the local department for more information.
What to Do After I Buy xDai
Store/Hold xDai
Many investors hold their xDai with the expectation of it increases in value. You can store your xDai on your exchanges' wallets(such as Binance Wallet) or on crypto wallets( such as Trust Wallet), if you wish to store them for the long term, you can store them in a cold wallet instead of a hot wallet. ( Hot Wallets vs Cold Wallets: What's the Difference? ).
Trade xDai
You can trade xDai for other cryptocurrencies on crypto exchanges. Cex or Dex exchanges offer some trading pairs for xDai trading to meet your needs.
Earn xDai
Earn Rewards by staking coins. Staking is a great way to maximize your holdings in staking coins that would otherwise be sitting in a wallet or trading account.
Transfer
Unlike sending money overseas, you can send xDai to anyone in the world virtually instantly.
Purchasing Goods
Some online platforms or offline shops accept crypto as payments. You can purchase good or service from these places.
Frequently Asked Questions(FAQ)
Can I buy 1 xDai?
Is xDai a good investment in 2024?
The crypto market is incredibly volatile like the stock market, it is not recommended to invest all your assets in crypto. Investors definitely need to evaluate the pros and cons of xDai. Sometimes you should do some research, for example, read the white paper of the project or check the data of historical xDai price or xDai Return On Investment(ROI). Ultimately, it depends on your appetite for risk.
How to Store xDai?
If you want to keep and hold xDai for the long term and do not plan to sell them, security may be the first thing you should consider. Although keeping them in most of the top exchanges' wallets nowadays is safer than before, with the development of security techniques, however, because of the very nature of the wallets in exchanges, they will be always online( so-called "hot wallet"), it is possible of being a hack. What's more, the exchanges shut down may cause the loss of your fund. So the safest way of storing your coins or tokens is always putting them into "Cold Wallets", it is the wallet that is totally offline. There are two types of cold wallets:
- Paper wallet: It is simply formed by using a program to randomly generate a public and private key offline and you can print them on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions.
- Hardware cold wallet: Hardware wallets are physical devices where you can store your cryptocurrency. Your crypto addresses and keys can be kept in a USB drive device, and only the person who possesses the USB drive can access the assets.
Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets.
How long does it take to buy xDai?
As for DEX, the transaction will be confirmed by the node in the network. The confirmation time depends on your gas price. If you submit with a low gas price, you can find your transaction taking a long time to process. For advice on what gas prices will result in a transaction being finalized in a reasonable amount of time, if you are using the Ethereum network, please refer to sources such as Etherscan's gas tracker, or a similar tracker for whichever network you're using.
xDai Price
xDai price today is $0.9989 with a 24-hour trading volume of $296,974. XDAI price is up 0.23% in the last 24 hours. It has a circulating supply of 3.97Mil XDAI coins and a max supply of 8.57Mil.