How to Buy Gelato (GEL) in 2022: A Simple Guide

Gelato (GEL)In this guide you’ll get information about where to buy Gelato, if you are planning to buy GEL token – You’re in the right place!

Gelato Network is a decentralized protocol that specifically address the issue related to lacking reliability, centralization, and sophistication around decentralized applications that offers automatic smart contract. Gelato has created and developed the underlying bots framework to build a powerful decentralized network for developers where they can instruct to monitor transaction with some pre-specified conditions. Using the infrastructure, developers can allow users to repay their debt on Compound or other lending protocol on into an automated service.

Gelato’s track record in helping developers accomplish their Ethereum tasks is unquestionable. Through the network, developers are able to automate interactions with any smart contracts, while convincing that users have full custody over their assets. The goal Gelato is planning to achieve is the potential creation of every Web3 developer without them have to be expert in running advanced and sophisticated bots on Ethereum.

Gelato (GEL) Features

  • Standardized Smart Contracts. The smart contracts allows users to instruct off-chain services to unlock arbitrary code for them. Through the standardized smart contracts, end-users can rent server space to have their transactions automatically sent based on certain codified rules. The server operators and providers can only execute the smart contracts specified by the users.
  • Instadapp. It is one of the world’s biggest DeFi asset management platform according to its AUM. Using this feature, moving and exchanging borrowing funds between two different lending protocols becomes very easy, only with a single click of a button. Since last year, the users of Instadapp have been enjoying many automatic features added by Gelato.
  • Liquidation Protection. For projects running on KeeperDAO and Cono Finance, each time collateral prices begin to fall, Gelato automates the users’ debt position repayment to prevent from costly liquidation.
  • Automatic Harvesting Yield Farming Rewards. Some projects use Gelato’s framework to automate the reinvesting and harvesting rewards earned by the vaults of the yield farming. As a result, users can generate attractive yields for various tokens. One of such projects is ETHA Lend. The project can maximize the yields because users’ portfolio is automatically re-compounded every two hours.

Where to Buy, Sell and Trade Gelato aka GEL

You can basically use debit card, credit card, or even PayPal to buy the Gelato (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Gelato 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 Gelato. 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 (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Gelato currency and exchange your Ethereum / Bitcoin / Tether with the Gelato
  3. Store your Gelato 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!

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 Gelato, 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 Gelato:

GATE.io
gate.ioGate.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 GEL/BTC or GEL/ETH or GEL/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you GEL/USDTso you need to convert your BTC or ETH to USDT first in order to buy Gelato (GEL)

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

ledger nano x

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

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 Gelato (GEL) 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 Gelato. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Gelato (GEL) 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 Gelato (GEL) with Skrill?

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

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Gelato (GEL) with Bitcoin?

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

Can I Buy Gelato (GEL) with Ethereum?

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

What Is the Best Payment Method to Buy Gelato (GEL)?

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

How to Protect Gelato (GEL)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Gelato (GEL)?

Find a crypto exchange which allow pairing GEL 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 Gelato (GEL) 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 Gelato is to buy it from a reliable exchange.

Conclusion

Since the first version mainnet was launched a year ago, many developers all over the world have already integrated their smart contract apps to Gelato network. Until today, the network usage has been steadily growing. Every month, thousands of smart contract executions are automated through the platform and the number will keep increasing. It the condition persists, Gelato (GEL) will gain more value and more people will hold it for both trading and investing.

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