In this guide you’ll get information about where to buy BitDAO, if you are planning to buy BIT token – You’re in the right place!
BitDAO isn’t a company or a business, but a community as a whole. It is an autonomous organization (with decentralized mechanism) wanting to provide fair and equal chances for everyone within the decentralized token economy. The platform focuses on decentralized technologies, including DeFi. There is no ruler in the platform because everything would be managed (and handled) by BIT token holders. Its vision is to create unstoppable economy that is made possible by decentralized technologies, assets, and organizations. That’s why its top mission is to support those who build the decentralized economy in order to show DAO’s potential.
BitDAO is always in search of potential and promising projects, so they can give grants to those projects. Those projects include everything related to NFTs, privacy, layer 1 or layer 2, governance, DeFi, and others. It’s also possible that they provide grants for BitDAO contributors. Those who build community management or those who build a (custom) governance module are some of the exemplary projects that BitDAO would be interested in. Why would they support such projects? It’s because those technologies can be beneficial for everyone in the community, which means it’s about everyone’s well-being.
- Official website: https://www.bitdao.io/
- Twitter: https://twitter.com/BitDAO_Official
- Telegram: https://t.me/BitDAO_Official
- Whitepaper: https://docs.bitdao.io/
BitDAO (BIT) Features
- Solid partnership. BitDAO wants to work together with the emerging and existing projects via token swaps. The swap allows BitDAO treasury allocation in order to collect top crypto tokens’ collection. The top priority would be derivatives and spot DEXes.
- Core product build. The platform wants to construct core products that can help BitDAO (and other DAOs) effectiveness and functionality. The core products various off and on chain governance solutions. Moreover, the treasury management should be able to deploy and then monitor the assets to obtain yield.
- Grant access. BitDAO wants to provide grants for crypto industry teams for products or research. All of those grants would have to go through the voting system. The outcome would be distributed to the public of crypto world.
Where to Buy, Sell and Trade BitDAO aka BIT
You can basically use debit card, credit card, or even PayPal to buy the BitDAO (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the BitDAO 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 BitDAO. 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 BitDAO currency and exchange your Ethereum / Bitcoin / Tether with the BitDAO
- Store your BitDAO 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.
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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 BitDAO, 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 BitDAO:
- 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 BIT/BTC or BIT/ETH or BIT/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BIT/USDT – so you need to convert your BTC or ETH to USDT first in order to buy BitDAO (BIT)
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 BitDAO (BIT) 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 BitDAO (BIT) 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 BitDAO. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy BitDAO (BIT) 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 BitDAO (BIT) with Skrill?
You can’t buy BIT directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to BitDAO. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy BitDAO (BIT) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BIT/BTC and begin the transactions.
Can I Buy BitDAO (BIT) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BIT/ETH trading pair.
What Is the Best Payment Method to Buy BitDAO (BIT)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the BitDAO right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect BitDAO (BIT)?
Once you have purchased the BitDAO, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell BitDAO (BIT)?
Find a crypto exchange which allow pairing BIT 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 BitDAO (BIT) 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 BitDAO is to buy it from a reliable exchange.
BitDAO wants to create a decentralized token economy and open finance. They also try to attract talented developers or skills through co-development and token swaps. The platform wants to support a wide array of tokenized and decentralized projects, such as gaming, NFTs, DAOs, and DeFi. The support would be given in the form of funding, liquidity bootstrapping, and also research and development. Interested users, however, are required to buy BitDAO (BIT) if they want to join the platform.