How to Buy Cloakcoin (CLOAK) in 2021: A Simple Guide

Cloakcoin CLOAKIn this guide you’ll get information about where to buy Cloakcoin, if you are planning to buy CLOAK – You’re in the right place!

CloakCoin is the platform designed to improve privacy and also anonymity (of each user) to the highest level. Despite the fact that crypto platform is anonymous and private, there are always security breach and the possibility of attack that may jeopardize the transactions within the network. Well, CloakCoin is the platform that understands that privacy is the ultimate focus in a platform.

Not to mention that users are encouraged to participate within the decentralized, secure, and private network. They can make use of the peer to peer network to perform untraceable (digital) monetary transactions.

Cloakcoin (CLOAK) Features

  • Enigma. This is a mixing off-blockchain protocol that works with Cloakshield for the security infrastructure. It enables Cloaker (coin holder) to act and function as the mixer node. It will ensure the anonymity.
  • ECDH. Elliptical Curve Diffie-Hellman is a key agreement protocol which works anonymously. It will make sure that the security in Cloak network is well maintained. It also ensure the (end to end) encrypted transactions within the platform.
  • Proof of Stake consensus. This is designed so that coins would be made available for every user with modest PC or smartphone. This consensus doesn’t need any complicated mechanism, tool, or hardware to mining the (Cloak) coin.
  • Fast process. Since the platform is designed to deliver fast and effective transactions, the speed is seriously improved. Everything would take place within minutes, even seconds. No more long waiting time.
  • Reward profit. Every user has the chance to earn and get digital money with this network. You can expect 6% of yearly interest – just by staking the coins in the wallet.
  • Anonymous and untraceable. Platform has this default onion-routing (privacy) set that will make the transactions private and anonymous. You can also switch on the Enigma for the ultimate experience within the network.
  • Community core and focus. The platform focuses on community where everything is about the user. All users can take part actively in the network, including volunteer for projects.

Where to Buy, Sell and Trade Cloakcoin aka CLOAK

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

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Cloakcoin. 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 or Bitcoin
  2. Find a crypto exchange that supports Cloakcoin currency and exchange your Ethereum or Bitcoin with the Cloakcoin
  3. Store your Cloakcoin to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

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.

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 Cloakcoin, once you get your Bitcoin or Ethereum, 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 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 with Cloakcoin:

BINANCE
binanceBinance is probably the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 160+ more
  • Trading Pairs: 603+
CHANGELLY
changellyThis cryptocurrency exchange is located in the Czech Republic. They are the same team responsible for MinerGate, one of the most reputed groups of people in the market. The exchange is popular for allowing US-based investors and for offering to cover the network fees of any user.

  • Deposit Methods: Cryptocurrency, Credit card, Debit card, Wire transfer, bank Transfers
  • Fiat Currencies: USD, EUR, GBP
  • Supported Cryptocurrencies: BTC, BCH, ETH, XMR, ZEC, DASH, XRP, ETC, LTC, DOGE & 100+ more
  • Trading Pairs: N/A
GATE.io
gate.ioGate.io is a popular exchange service in his native base of operation in Hong Kong. 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 117+ more
  • Trading Pairs: 403+

IMPORTANT! Once you are registered to any of the above, find the BTC/CLOAK or ETH/CLOAK trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

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 Cloakcoin (CLOAK) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T

  • 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 Cloakcoin (CLOAK) 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 Cloakcoin. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Cloakcoin (CLOAK) 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 Cloakcoin (CLOAK) with Skrill?

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

Can I Buy Cloakcoin (CLOAK) with Bitcoin?

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

Can I Buy Cloakcoin (CLOAK) with Ethereum?

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

What Is the Best Payment Method to Buy Cloakcoin (CLOAK)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the Cloakcoin right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Cloakcoin (CLOAK)?

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

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

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+

How to Sell Cloakcoin (CLOAK)?

Find a crypto exchange which allow pairing CLOAK with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Cloakcoin (CLOAK) 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 Cloakcoin is to buy it from a reliable exchange.

Conclusion

Cloak should be your go-to platform if privacy, safety, security, and anonymity are your priorities. With all the included technologies, it would be a solid network where you won’t have to worry about anything. But if you want to enjoy all the perks, you need to know how to buy Cloak coin and gain access to the platform.

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