In this guide you’ll get information about where to buy BASIC, if you are planning to buy BASIC token – You’re in the right place!
Many platforms offer their users to achieve a capital gain in a short time. However, not many of them that can do it efficiently. These apps are mainly DeFi only platforms that focus on borrowing and lending transactions. BASIC notices some of the problems with the current loan markets and comes up with some new ideas.
Worth noting that Basic is not exactly a DeFi platform. Users who buy BASIC (BASIC) tokens can participate in DeFi products, but they are not limited to those. They can see how liquid their assets are as well as their credit score. The team at BASIC comes from backgrounds in Finance, and the platform has a partnership with Goldman Sachs to provide security
- Official Site: https://basic.finance/
- Twitter: https://twitter.com/thebasicfinance
- Reddit: https://reddit.com/r/thebasicfinance
- Telegram: https://t.me/thebasic
- White Paper: https://docsend.com/view/s6g2trt
BASIC (BASIC) Features
- Smart Loan Manager: Even though claiming not to be a Decentralized Finance platform, Basic offers various protocols and modules that support DeFi apps. One of them is the Smart Loan manager. This module allows users to track and monitor their loan to value ratio in near real-time. This will help users to decide when and how much they can borrow from the platform.
- Liquidity Custodian: Basic currently works with BitGo as the custody partner for the assets as collateral. The BitGo Trust Company itself has support from Goldman Sachs in terms of insurance and security protection. As protection from identity theft, hacking, or dishonest acts by BitGo employees. And to keep the liquidity flexible, Basic implements the partial liquidation policy that will minimize the number of liquid assets to keep the rate flexible and avoid massive slippage.
- CREDIT token: In addition to the $Basic token, the platform also has a CREDIT token. The token is native and exclusive to the Basic app. Users can’t purchase or transfer the token to another address. Basic uses the CREDIT token to measure the user’s credit score. 25% of each loan and repayment will mint 1 CREDIT token. And with the ratio of 1 CREDIT = 1 USDT, users will have access to unsecured lending when they have enough CREDIT tokens.
Where to Buy, Sell and Trade BASIC
You can basically use debit card, credit card, or even PayPal to buy the BASIC (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the BASIC 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 BASIC. 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 BASIC currency and exchange your Ethereum / Bitcoin / Tether with the BASIC
- Store your BASIC 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.
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 BASIC, 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 BASIC:
- Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
- Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
- Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
- Trading Pairs: 1044+
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 BASIC/BTC or BASIC/ETH or BASIC/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BASIC/USDT – so you need to convert your BTC or ETH to USDT first in order to buy BASIC (BASIC)
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 BASIC (BASIC) 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.
- 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 BASIC (BASIC) 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 BASIC. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy BASIC (BASIC) 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 BASIC (BASIC) with Skrill?
You can’t buy BASIC directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to BASIC. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy BASIC (BASIC) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BASIC/BTC and begin the transactions.
Can I Buy BASIC (BASIC) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BASIC/ETH trading pair.
What Is the Best Payment Method to Buy BASIC (BASIC)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the BASIC right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect BASIC (BASIC)?
Once you have purchased the BASIC, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell BASIC (BASIC)?
Find a crypto exchange which allow pairing BASIC 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 BASIC (BASIC) 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 BASIC is to buy it from a reliable exchange.
Users who need a platform to borrow crypto or provide liquidity for a short term can buy BASIC tokens. The platform provides a smart loan system for users to measure their loan-to-value ratio in real-time. It also has a dedicated CREDIT token mint only to reflect the user’s credit score. And when they have enough CREDIT tokens, they can access unsecured lending. At any rate, users don’t have to worry since BASIC has the support of Goldman Sachs to provide security and insurance to the loans.