In this guide you’ll get information about where to buy BoringDAO, if you are planning to buy BORING token – You’re in the right place!
BoringDAO is a platform that serves as a decentralized ‘bridge’ for assets. It is created this way to help easier and more direct access across all platforms or blockchains. The platform is about building (decentralized) tunnels between blockchains for crypto assets, so management and access can be managed more effectively.
BoringDAO comes with a series of tunnels or bridges, allowing users to move their crypto assets (including Bitcoin) safely. They are free to do it between different blockchains and Ethereum in order to boost crypto assets’ utilization rate within DeFi world.
Every cryptocurrency asset has owns its special bi-directional and decentralized cross-chain bridge that is controlled by DAO. BoringDAO wants to make use of these bridges (some may call them tunnels) so assets movement and management can be made easier. When users of BoringDAO use and access these tunnels to move their non ERC-20 tokens cross chain (like LTC or BTC), they will get BOR tokens as rewards.
BoringDAO (BORING) Features
- Solid safety. All the assets would be backed with three layers of security mechanism: decentralized insurance, more than 100% reserve, and multi-signature wallets.
- Fast processing. Users won’t have to deal with fussy operation or long processing time. In fact, all assets can be easily moved or transferred across different blockchains in minutes only.
- Decentralized nature. This platform is completely decentralized. It means that users’ assets would have never been in third-party monitoring or management. It also means that all (financial) data is verifiable easily on blockchain network.
- Permissionless convenience. Everyone is welcomed to join the platform; as they are also free to use the offered tunnels (with cross-chain) nature. They can also stake their precious assets in the platform’s farms without having to use third-party intermediary.
- Bitcoin friendly. The tunnels are ‘friendly’ to Bitcoin. Users can move their Bitcoin safely, even in cross-chain mechanism if they want to achieve the best and most effective multichain DeFi.
- DAO governance. It is the community that controls the platform, meaning that all important decisions are openly done through decentralized (governance) methods.
Where to Buy, Sell and Trade BoringDAO aka BORING
You can basically use debit card, credit card, or even PayPal to buy the BoringDAO (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the BoringDAO 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 BoringDAO. 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 BoringDAO currency and exchange your Ethereum / Bitcoin / Tether with the BoringDAO
- Store your BoringDAO 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 BoringDAO, 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 BoringDAO:
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 BORING/BTC or BORING/ETH or BORING/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BORING/USDT – so you need to convert your BTC or ETH to USDT first in order to buy BoringDAO (BORING)
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 BoringDAO (BORING) 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 BoringDAO (BORING) 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 BoringDAO. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy BoringDAO (BORING) 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 BoringDAO (BORING) with Skrill?
You can’t buy BORING directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to BoringDAO. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy BoringDAO (BORING) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BORING/BTC and begin the transactions.
Can I Buy BoringDAO (BORING) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BORING/ETH trading pair.
What Is the Best Payment Method to Buy BoringDAO (BORING)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the BoringDAO right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect BoringDAO (BORING)?
Once you have purchased the BoringDAO, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell BoringDAO (BORING)?
Find a crypto exchange which allow pairing BORING 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 BoringDAO (BORING) 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 BoringDAO is to buy it from a reliable exchange.
BoringDAO isn’t as ‘boring’ as its name. The platform focuses on financial channels; improving their functions and usages so crypto users should be able to enjoy better, more flexible, and more effective assets management. No more restrictions and limitations, as assets can be easily (and conveniently) moved, accessed, or managed. Those who are interested in the platform’s concept should buy BoringDAO (BORING) to gain access to the platform.