In this guide you’ll get information about where to buy Biconomy, if you are planning to buy BICO token – You’re in the right place!
The rapid growth of the Web3.0 ecosystem brings out several problems. Mainly the problems are on the oversaturated ecosystem with multiple protocols. Each offers different things, but the transactions complicate things.
Users need a protocol to help them streamline the transactions. That is where Biconomy (BICO) comes in. The protocol helps users on keeping their activities in check. The project mainly acts as a relayer that has multi-chain interoperability. It keeps all transactions, communications, and transfers decentralized. The project has an easy plug & Play API for the developers to connect their dApps with the relayer without any hitch. But the main thing is that the investors who buy Biconomy (BICO) help enable meta-transactions on multiple blockchains to keep the transaction gasless.
Biconomy (BICO) Features
- Cross-chain interoperability: The project focuses on providing a decentralized protocol that will help users on streamlining and managing their transactions. Biconomy starts in the Ethereum ecosystem, but it has cross-chain interoperability. Therefore, users can have fast and transparent transactions. They can manage their transfers and other activities in an instant.
- Gasless transactions: Biconomy help users on lowering the transaction fees. The protocol uses the BICO as their main tokens to manage the economy. Users won’t have to pay for the gas fees. However, they still need to pay the network fee using BICO tokens. This will help them on cutting the transaction costs.
- Plug & Play API: The project designs their API to be easy to understand. They wrote the code in a way that users only need to download and implement it to their applications. This simplicity means developers don’t have to worry about connecting to their apps to a blockchain. Their apps will have a better connectivity and still decentralized.
- Community-focused: 38% of the token distribution goes back to the community. And all token holders are eligible to propose and vote in the governance system. However, not everyone can receive the incentives or rewards. These holders still need to stake their tokens, and the amount of rewards is proportional to the amount of tokens staked.
Where to Buy, Sell and Trade Biconomy aka BICO
You can basically use debit card, credit card, or even PayPal to buy the Biconomy (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Biconomy 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 Biconomy. 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 Biconomy currency and exchange your Ethereum / Bitcoin / Tether with the Biconomy
- Store your Biconomy 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!
- 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 Biconomy, 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 Biconomy:
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 BICO/BTC or BICO/ETH or BICO/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BICO/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Biconomy (BICO)
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 Biconomy (BICO) 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 Biconomy (BICO) 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 Biconomy. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Biconomy (BICO) 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 Biconomy (BICO) with Skrill?
You can’t buy BICO directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Biconomy. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Biconomy (BICO) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BICO/BTC and begin the transactions.
Can I Buy Biconomy (BICO) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BICO/ETH trading pair.
What Is the Best Payment Method to Buy Biconomy (BICO)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Biconomy right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Biconomy (BICO)?
Once you have purchased the Biconomy, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Biconomy (BICO)?
Find a crypto exchange which allow pairing BICO 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 Biconomy (BICO) 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 Biconomy is to buy it from a reliable exchange.
Investors who buy Biconomy (BICO) understand the importance of having fast, transparent, and decentralized transactions. The project offers a protocol that will streamline the transactions and keep them decentralized. It supports cross-chain interoperability and uses the BICO as the main token for all transactions. In turn, users only need to pay the network fee that is cheaper than gas fees. All BICO holders can propose and vote in the governance. But only those who stake their tokens are eligible for incentives.