In this guide you’ll get information about where to buy Sentinel Chain, if you are planning to buy SENC token – You’re in the right place!
Sentinel Chain (SENC) aims to be a medium of the creation of Local Currency Token (LTC), a local stablecoin, as well as the platform of exchange for cross-border livestock. However, meeting the objective in one step is not possible due to some reasons. Little incentive for the unbanked is necessary to use LTC if there are credit problems. To solve this problem, collaterals need to be created, and this can be done by solving the provenance problem related to registration of livestock identity.
Unlike USDT, BTC, or even ETH, SENC is suitable collateral because it has a real-world use case. In other words, the reason for it being used as a collateral is because of tokenomics. In today’s world of cryptocurrency, the prices of altcoin are generated by the prices of major cryptocurrencies. Therefore, economic activities should drive the prices of tokens with a real-world use case.
- Official website: https://sentinel-chain.org/
- Bitcointalk: https://bitcointalk.org/index.php?topic=2992147.0
- Reddit: https://www.reddit.com/r/SentinelChain/
- Twitter: https://twitter.com/sentinelchain
- Telegram: https://t.me/sentinelchain
- Whitepaper: https://sentinel-chain.org/Sentinel.Chain.Whitepaper.v0_31.1.pdf
Table of Contents
Sentinel Chain (SENC) Features
- Fiat-Backed Stablecoin Method. SENC is sold directly and converted to fiat. Then, the fiat (MMK) is stored in a local bank. An in-country banking account is required, returning SENC to circulation, thus raising its supply.
- SENC-Backed Stablecoin Method. SENC can be used as a collateral based on a certain ratio negotiated between the liquidity provider and wholesaler.
- Low Risks and Volatility. Operationally, SENC is stocked up at a proper level to create enough buffer against liquidity risks.
- Supply and Demand of LCTs. Generally, the increase in the token value is achieved by using an artificial approach to create token scarcity. However, this Sentinel Chain doesn’t use this approach. Instead, the supply and demand for SENC is determined by LCTs’ supply and demand.
- B2B Marketplace. Sentinel Chain is programmed as a B2B marketplace facilitating wholesale purchasing. SENC is accumulated by the Liquidity Provider when the price is low and create LCT when it is high.
- Ecosystem Development. It is one of the most important aspects of Sentinel Chain where anyone can use SENC in numerous use cases.
Where to Buy, Sell and Trade Sentinel Chain aka SENC
You can basically use debit card, credit card, or even PayPal to buy the Sentinel Chain (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Sentinel Chain as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to Sentinel Chain. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Sentinel Chain currency and exchange your Ethereum / Bitcoin / Tether with the Sentinel Chain
- Store your Sentinel Chain to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Sentinel Chain, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Sentinel Chain:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the SENC/BTC or SENC/ETH or SENC/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you SENC/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Sentinel Chain (SENC)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Sentinel Chain (SENC) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Also Read:
Frequently Asked Questions (Faqs)
Can I Buy Sentinel Chain (SENC) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Sentinel Chain. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Sentinel Chain (SENC) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Sentinel Chain (SENC) with Skrill?
You can’t buy SENC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Sentinel Chain. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Sentinel Chain (SENC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair SENC/BTC and begin the transactions.
Can I Buy Sentinel Chain (SENC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support SENC/ETH trading pair.
What Is the Best Payment Method to Buy Sentinel Chain (SENC)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Sentinel Chain right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Sentinel Chain (SENC)?
Once you have purchased the Sentinel Chain, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Sentinel Chain (SENC)?
Find a crypto exchange which allow pairing SENC with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Sentinel Chain (SENC) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Sentinel Chain is to buy it from a reliable exchange.
Conclusion
Designed as a global marketplace for cross-border financial services utilizing blockchain, Sentinel Chain (SENC) applies a unique method to address a problem regarding financial inclusion. It is interesting because the approach is different from that of major cryptocurrencies like ETH, DASH, or BTC. It will the world’s first medium that accepts the use of livestock as collateral. The project seems to be promising because it opens up a new opportunity for anyone who want to use livestock as collateral for loans.
