In this guide you’ll get information about where to buy OptionPanda, if you are planning to buy OPA token – You’re in the right place!
Option Panda is a decentralized platform dedicated for trading and underwriting exchange. This platform supports BSC, ETC, and many more. Binance Option and Hegic are its similar peers in a way that they are semi centralized and decentralized in nature. When it was launched for the first time, Option Panda focused on providing ETC, BNB, BTCB, and other traditional cryptocurrency option trading on BSC. However, starting from 2021, CBBC, Algorand, and other public chains have been added as option variants, to extend the product line.
Expanding the option variants is one of the goals of Option Panda. By combining and integrating with other decentralized protocols or asset trading platforms, Option Panda can achieve the other goal which is evolving to a composable exotic trading platform for derivatives. Option Panda is also a community-driven platform where the community’s opinion plays a significant role in determining the future direction of the protocol.
- Official website: https://opanda.io/
- Twitter: https://twitter.com/option_panda
- Telegram: https://t.me/opandaofficial
- Whitepaper: https://docs.opanda.io/deployment-links
Table of Contents
OptionPanda (OPA) Features
- Scalability. Option Panda allows crypto asset traders to trade against each other’s perspective of price trend related to a particular underlying asset in a decentralized manner. It is scalable both in terms of expiry dates and crypto asset classes.
- Convenience. Option Panda updates new options and settles expiring options automatically. With the automatic settlement, option holders do not need to manually manage their holding via smart contract interaction. What buyers need to do is simply deposit their asset to a pool to take part in a pooled option underwriting.
- Transparent and Fair Pricing. A transparent option pricing mechanism is the key of Option Panda. It strives to create a precisely fair option pricing system.
- Dynamic Sigma Adjustment. A new dynamic adjustment mechanism is employed based on the supply/demand in the market. This mechanism functions to achieve a relatively frequent update of volatility.
- Community Driven. Option Panda adopts a decentralized governance mechanism. It is proven from the fact that it has gradually transferred the governance ownership to the community. In this way, platform tokens holders can decide the roadmap.
Where to Buy, Sell and Trade OptionPanda aka OPA
You can basically use debit card, credit card, or even PayPal to buy the OptionPanda (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the OptionPanda 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 OptionPanda. 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 OptionPanda currency and exchange your Ethereum / Bitcoin / Tether with the OptionPanda
- Store your OptionPanda 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.
Get $10 Bonus when you sign up for Coinbase!
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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 OptionPanda, 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 OptionPanda:
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 OPA/BTC or OPA/ETH or OPA/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you OPA/USDT – so you need to convert your BTC or ETH to USDT first in order to buy OptionPanda (OPA)
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 OptionPanda (OPA) 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+
Frequently Asked Questions (Faqs)
Can I Buy OptionPanda (OPA) 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 OptionPanda. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy OptionPanda (OPA) 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 OptionPanda (OPA) with Skrill?
You can’t buy OPA directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to OptionPanda. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy OptionPanda (OPA) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair OPA/BTC and begin the transactions.
Can I Buy OptionPanda (OPA) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support OPA/ETH trading pair.
What Is the Best Payment Method to Buy OptionPanda (OPA)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the OptionPanda right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect OptionPanda (OPA)?
Once you have purchased the OptionPanda, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell OptionPanda (OPA)?
Find a crypto exchange which allow pairing OPA 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 OptionPanda (OPA) 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 OptionPanda is to buy it from a reliable exchange.
Conclusion
There are two things that make Option Panda different from its competitors. First, it is fully decentralized, meaning that a fair trading space is possible as there is no human intervention at all. Second, pricing mechanism for the option is transparent and following a certain formula called Black-Scholes. As a result, no one can manipulate the option price. For these two reasons, Option Panda (OPA) will attract more investors and as the demand increases, the price will also increase.
