In this guide you’ll get information about where to buy GYEN, if you are planning to buy GYEN token – You’re in the right place!
Many countries are accepting YEN as a transaction currency. Of course, they need to follow the current exchange rate that is often put the person at disadvantage. The rate depends on geopolitical and other world economic reasons. To prevent users from missing the best exchange rate, GMO, a trusted company released GYEN and ZUSD tokens.
Users who buy GYEN tokens can enjoy the 1:1 exchange ratio whenever they do transactions with $GYEN. They don’t need to worry as the team behind the GMO Trust has decades of experience in the finance industry. As a company, GMO Trust aims to provide a financial service for all. The company is working to provide the traditional financial sector with blockchain technology. Using GYEN and ZUSD, users can start trading seamlessly at a high speed.
- Official Site: https://stablecoin.z.com/
- Twitter: https://twitter.com/GMOTrust
- White Paper: https://stablecoin.z.com/assets/pdf/Whitepaper.pdf
Table of Contents
GYEN (GYEN) Features
- First Yen-pegged stablecoin: The GYEN token is more than just a finance token, but it’s a stablecoin that works just like fiat. Having this stablecoin will help users, especially investors, who are based in Japan or have YEN as their primary transaction currency. Having a non-USD stablecoin also will give users other options when the USD-based market is oversaturated with requests. The token will be faster and may provide higher transaction turnouts.
- Highly Liquid: Holding the $GYEN stablecoin is equal to holding the actual Japan Yen money. The exchange ratio stays at 1:1 which means that users can trade their $GYEN for the same amount in JPY. The same users can earn a lot of benefits when more DeFi services provide any pairing to $GYEN.
- Regulation Compliance: Being a stablecoin means GYEN has to meet several requirements that the regulation set for a currency. GMO trust as the main company retains the license from the Japan Financial Service Agency JFSA. And the same goes for the company’s subsidiaries such as GMO Aozora and the $GYEN token. GMO Trust also holds the approval from the New York State Department of Financial Service. Complying with the regulation will help the users on keeping their assets liquid.
Where to Buy, Sell and Trade GYEN aka GYEN
You can basically use debit card, credit card, or even PayPal to buy the GYEN (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the GYEN 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 GYEN. 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.
Step 1: Buy Gyen directly 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.
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- 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.
Step 2: 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 GYEN (GYEN) 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 GYEN (GYEN) 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 GYEN. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy GYEN (GYEN) 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 GYEN (GYEN) with Skrill?
You can’t buy GYEN directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to GYEN. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy GYEN (GYEN) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair GYEN/BTC and begin the transactions.
Can I Buy GYEN (GYEN) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support GYEN/ETH trading pair.
What Is the Best Payment Method to Buy GYEN (GYEN)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the GYEN right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect GYEN (GYEN)?
Once you have purchased the GYEN, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell GYEN (GYEN)?
Find a crypto exchange which allow pairing GYEN 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 GYEN (GYEN) 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 GYEN is to buy it from a reliable exchange.
Conclusion
GMO Trust is one of the companies that have the license to trade from the New York Finance Department. The finance company is the brain behind $GYEN and $ZUSD tokens. Users who buy GYEN (GYEN) tokens can keep their assets liquid without having to worry about the rate. Both $GYEN and $ZUSD tokens have a 1:1 ratio to keep them stable. Other than protecting the traders from the volatile market adjustment, stablecoin also works as a payment on digital assets.
