How to Buy Basis Gold Share (BAGS) in 2022: A Simple Guide

Basis Gold Share (BAGS)In this guide you’ll get information about where to buy Basis Gold Share, if you are planning to buy BAGS token – You’re in the right place!

In the actual world, central banks have a monopoly role in issuing money. While the measures are based on specific monetary policies based on price level, the danger of over-issuance, using US dollars as an example, may produce a series of difficulties afterwards. Basis is an algorithmic stablecoin technology that dynamically adjusts the money supply to suit variations in money demand. When demand increases, the blockchain generates additional Basis Gold. The increased supply is intended to lower the Basis price.

The Basis Gold Protocol incorporates a unique method that is fully reliant on the market and is openly performed by algorithm on smart contracts. Money supply is entirely governed by demand; hence, the whole architecture assures that consumers are ready to keep without fear of hyperinflation while preserving purchasing power.

Basis Gold Share (BAGS) Features

  • A Three-Token System. Basis Gold is a non-custodial algorithm stable currency powered by Huobi Eco Chain. The Basis Gold protocol, unlike prior DeFi projects, contains three tokens: Basis Gold Share (BAGS), Basis Gold (BAG), and Basis Gold Bond (BAGB).
  • Farmable Tokens. By depositing specific assets, Basis Gold and Basis Gold Share can be farmable. In this system, Basis Gold is the stable currency valued at $1, while Basis Gold Share holders share Basis Gold’s inflationary money supply.
  • Boardroom Staking. Basis Gold Shareholders must stake in Boardroom in order to obtain newly coined Basis Gold. Basis Gold Bonds can be acquired at a discount to preserve the price stability of Basis Gold while also assuming future gains upon redemption.
  • BAG Inflationary Rewards Distribution. Depositors receive inflationary benefits proportionate to the quantity of BAGS deposited.
  • BAG DAO. Because of the larger ecosystem, a DAO nominated by the community is held for further and better governance.
  • Censorship Resistant. The project was launched anonymously, with the help of characters from the popular Sci-Fi show Rick and Morty. This permits the initiative to escape the regulatory censorship that doomed the original Basis Protocol, while also avoiding the founder worship and single points of failure that have afflicted so many other ventures.

Where to Buy, Sell and Trade Basis Gold Share aka BAGS

You can basically use debit card, credit card, or even PayPal to buy the Basis Gold Share (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Basis Gold Share 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 Basis Gold Share. 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:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Basis Gold Share currency and exchange your Ethereum / Bitcoin / Tether with the Basis Gold Share
  3. Store your Basis Gold Share 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!

coinbaseClick here to register (opens in new tab)

  • 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 Basis Gold Share, 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 Basis Gold Share:

GATE.io
gate.ioGate.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 BAGS/BTC or BAGS/ETH or BAGS/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you BAGS/USDTso you need to convert your BTC or ETH to USDT first in order to buy Basis Gold Share (BAGS)

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 Basis Gold Share (BAGS) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

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

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 Basis Gold Share (BAGS) 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 Basis Gold Share. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Basis Gold Share (BAGS) 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 Basis Gold Share (BAGS) with Skrill?

You can’t buy BAGS directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Basis Gold Share. You can buy BTC/ETH with skrill by using these exchanges::

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Basis Gold Share (BAGS) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BAGS/BTC and begin the transactions.

Can I Buy Basis Gold Share (BAGS) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BAGS/ETH trading pair.

What Is the Best Payment Method to Buy Basis Gold Share (BAGS)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Basis Gold Share right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Basis Gold Share (BAGS)?

Once you have purchased the Basis Gold Share, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Basis Gold Share (BAGS)?

Find a crypto exchange which allow pairing BAGS 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 Basis Gold Share (BAGS) 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 Basis Gold Share is to buy it from a reliable exchange.

Conclusion

The team is responsible for bringing Basis Protocol into the world and assisting its community in realizing Basis’ ambition of being the first widely used decentralized currency. To that aim, they have agreed to take no financial advantage of Basis Gold’s success. When they believe the protocol has reached a reasonable product market fit, they will request donations from the Basis Shares DAO to continue contributing to the protocol. That is what keeps the protocol and the Basis Gold Share (BAGS) valuable.

error: