In this guide you’ll get information about where to buy Dynamic Set Dollar, if you are planning to buy DSD token – You’re in the right place!
Dynamic Set Dollar is a decentralized platform with its token a part of ERC-20 stablecoin. In fact, it is designed as a decentralized and self stabilizing stablecoin that isn’t only censorship resistant, but also non collateral. The stablecoin is a backed USD token with its own unique mechanism. DSD is completely different from others, especially the centralized coins, such as USDT.
As a full decentralized stablecoin, it doesn’t have 1:1 backing system, especially via centralized (USD) treasury. Unlike other rivals sUSD or DAI, it doesn’t use or implement collateral so it can be capital efficient. The system takes inspiration from ESD (Empty Set Dollar) so the mechanism for voluntary elastic supply is quite different from Based (BASED) or Ampleforth (AMPL), but it is able to respond faster to the demand of market through extended supply caps, more frequent epochs, and also a modified formula for contraction or supply extension.
The basic goal of stablecoin isn’t about always getting the worth of 1 USD, but how to manage it so it is ALMOST worth of 1 USD. Volatility is the biggest issues, and it is the main problem of centralized stablecoins. Even decentralized system (like DAI) can suffer from big price amplitudes. Different stablecoins have different mechanisms to get back to the USD peg. Well, DSS is constructed to be more stable in the long run and over time because it has a self-stabilizing mechanism.
- Official website: https://dsd.finance/app/#/
- Twitter: https://twitter.com/dsdproject
Table of Contents
Dynamic Set Dollar (DSD) Features
- Bonding mechanism. This feature allows users to take part in the supply extension, and it includes allowing voting system on proposals. Users are able to stage DSD within DAO and then it can be bonded. If they bond the Uniswap LP tokens, they can get rewards because they have provided liquidity.
- Solid security and protection mechanism. The unique system in the platform (including the bonding mechanism) is able to prevent flash loan attacks and manipulation during the supply contraction and expansion events. Not to mention that token holders having the bonded DSD are able to vote on DAO governance proposals.
- Community focus. Community is one of the most crucial cores of the platform. With the community as its focus, the platform is able to achieve decentralized concept while achieving the best performance.
Where to Buy, Sell and Trade Dynamic Set Dollar aka DSD
You can basically use debit card, credit card, or even PayPal to buy the Dynamic Set Dollar (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Dynamic Set Dollar 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 Dynamic Set Dollar. 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 Dynamic Set Dollar currency and exchange your Ethereum / Bitcoin / Tether with the Dynamic Set Dollar
- Store your Dynamic Set Dollar 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!
Click 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 Dynamic Set Dollar, 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 Dynamic Set Dollar:
Gate.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 DSD/BTC or DSD/ETH or DSD/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you DSD/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Dynamic Set Dollar (DSD)
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 Dynamic Set Dollar (DSD) 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.
- 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+
Frequently Asked Questions (Faqs)
Can I Buy Dynamic Set Dollar (DSD) 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 Dynamic Set Dollar. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Dynamic Set Dollar (DSD) 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 Dynamic Set Dollar (DSD) with Skrill?
You can’t buy DSD directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Dynamic Set Dollar. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Dynamic Set Dollar (DSD) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair DSD/BTC and begin the transactions.
Can I Buy Dynamic Set Dollar (DSD) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support DSD/ETH trading pair.
What Is the Best Payment Method to Buy Dynamic Set Dollar (DSD)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Dynamic Set Dollar right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Dynamic Set Dollar (DSD)?
Once you have purchased the Dynamic Set Dollar, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Dynamic Set Dollar (DSD)?
Find a crypto exchange which allow pairing DSD 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 Dynamic Set Dollar (DSD) 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 Dynamic Set Dollar is to buy it from a reliable exchange.
Conclusion
Investments have their own risks and challenges, and blockchain system isn’t free from such a thing. However, if users really understand the concept, they should be able to have better management and profitable outcome. DSD is profitable, but only for those who can see the potential. It welcomes everyone, but they need to buy Dynamic Set Dollar (DSD) first if they want to join.
