In this guide you’ll get information about where to buy Groestlcoin, if you are planning to buy GRS coin – You’re in the right place!
Groestlcoin (GRS) is a proof-of-work coin launched in March 2014. Like Bitcoin, GRS was created as a transactional cryptocurrency for payment. It is one of a few coins that are immune to ASIC mining. Similar to Bitcoin and Litecoin, GRS was sternly created as a peer-to-peer (P2P) payment cryptocurrency, but it has some unique characteristics that make it different from Bitcoin and Litecoin.
These unique features helped Groestlcoin to be the first in some points in the crypto ecosystem. For example, it became the first coin to handle a Lighting Network transaction on the mainnet. It was also the first coin applying SegWit. These achievements were made the active and hardworking development team of Groestlcoin who had released major development updates regularly since day 1.
Table of Contents
Groestlcoin (GRS) Features
- Private Transactions. Privacy is the greatest concern of the network in addition to super-fast transaction. The developer team behind this platform achieves this main goal through a specifically designed wallet that is able to secure addresses with TOR encryption and VPN support. Groestlcoin also utilizes a private and advanced algorithm similar to that of AES.
- Fork Resistant. The efficiency and scalability of a blockchain is affected by hard forks. Because of that, Groestlcoin is designed to be multi-pool resistant so that it can prevent the effects of forks. Besides, being ASIC resistant, GRS can only be mined using CPUs and GPUs. As a result, all miners have an equal playing ground to mine the coin. By making GRS multi-pool resistant, miners are ensured that domination of mining by a few large pools won’t be present.
- The Groestlcoin Blockchain. Groestlcoin uses a blockchain which have similar principles as Bitcoin’s blockchain, but with some additional unique attributes. These extra attributes make Griestcloin’s blockchain more advanced and more scalable as it is integrated to SegWit.
Where to Buy, Sell and Trade Groestlcoin aka GRS
You can basically use debit card, credit card, or even PayPal to buy the Groestlcoin (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Groestlcoin 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 Groestlcoin. 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 or Bitcoin
- Find a crypto exchange that supports Groestlcoin currency and exchange your Ethereum or Bitcoin with the Groestlcoin
- Store your Groestlcoin 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.
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 Groestlcoin, 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 Groestlcoin:
IMPORTANT! Once you are registered to any of the above, find the BTC/GRS or ETH/GRS 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 Groestlcoin (GRS) 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 Groestlcoin (GRS) 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 Groestlcoin. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Groestlcoin (GRS) 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 Groestlcoin (GRS) with Skrill?
You can’t buy GRS directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Groestlcoin. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Groestlcoin (GRS) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/GRS and begin the transactions.
Can I Buy Groestlcoin (GRS) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/GRS trading pair.
What Is the Best Payment Method to Buy Groestlcoin (GRS)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Groestlcoin right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Groestlcoin (GRS)?
Once you have purchased the Groestlcoin, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Groestlcoin (GRS)?
Find a crypto exchange which allow pairing GRS with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Groestlcoin (GRS) and Not Buying It?
Yes, you can.
Groestlcoin (GRS) is a sounding cryptocurrency that has been recently receiving quite a bit of interest. Groestlcoin may not be in the top of concurrencies, but it definitely has a solid history of development. Furthermore, the team is continuously working on making improvements so it can be a better a better peer-to-peer payment system. Such improvements are very important in keeping Groestlcoin at the vanguard of advancing blockchain technology.