How to Buy Mirrored iShares Silver Trust (mSLV) in 2021: A Simple Guide

Mirrored iShares Silver Trust (mSLV)In this guide you’ll get information about where to buy Mirrored iShares Silver Trust, if you are planning to buy mSLV token – You’re in the right place!

Mirror is created as a platform where synthetics or fungible assets can be created – and such creation is allowed. It acts as a DeFi protocol with Terra network’s smart contracts as the main power. Because of this feature, Mirrored Assets (or mAssets) as the synthetic assets within the platform can be created. After all, the protocol allows fungible asset creation that can track real world assets’ price. The synthetics are meant to function as smart contracts building blocks – as well as bringing the (real) assets to the digital blockchain.

The concept of mAssets is to ‘imitate’ the real assets’ price behavior. It is to provide traders open access of price exposure in the real world without having to deal with the excess baggage of transacting or ownership of the real assets. Users can mint mAssets through depositing collateral and opening a position. The platform makes sure that the protocol has enough collateral to cover mAssets. It also manages the market (for the mAssets) through listing within Terraswap against UST.

Mirrored iShares Silver Trust (mSLV) Features

  • MIR or Mirror Token. This is the token that would be minted by network’s protocol and then distributed as the reward. Users who provide liquidity (through LP tokens) would be rewarded with MIR.
  • Reduced requirements for middlemen or intermediaries. Decentralized platform and blockchain technology don’t need intermediary, so users can eliminate them. As the result, they can enjoy direct interaction that will lead to lower cost and faster processing.
  • Tokenizable assets. In this platform, both abstract and physical assets can be tokenized. Users can use anything, like precious metals, real estate, famous paintings, bonds, derivatives, investment funds, or stocks.
  • Fractional ownership and enhanced accessibility. The tokenization enables assets division to many units. It allows wider and bigger investment participation for extremely valuable assets, like expensive stocks or real estate.
  • Zero geographical limit or barriers. Users can make transactions, regardless their locations. The blockchain is permissionless and it is transparent – improving use and safety.

Where to Buy, Sell and Trade Mirrored iShares Silver Trust aka mSLV

You can basically use debit card, credit card, or even PayPal to buy the Mirrored iShares Silver Trust (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Mirrored iShares Silver Trust 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 Mirrored iShares Silver Trust. 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 Mirrored iShares Silver Trust currency and exchange your Ethereum or Bitcoin with the Mirrored iShares Silver Trust
  3. Store your Mirrored iShares Silver Trust 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.

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 Mirrored iShares Silver Trust, 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 Mirrored iShares Silver Trust:

BINANCE
binanceBinance is  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. Binance.com is unable to provide services to U.S. citizens or residents.

  • 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 & 345+ more
  • Trading Pairs: 1189+
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. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • 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 565+ more
  • Trading Pairs: 1118+

IMPORTANT! Once you are registered to any of the above, find the BTC/mSLV or ETH/mSLV 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 Mirrored iShares Silver Trust (mSLV) 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 Mirrored iShares Silver Trust (mSLV) 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 Mirrored iShares Silver Trust. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Mirrored iShares Silver Trust (mSLV) 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 Mirrored iShares Silver Trust (mSLV) with Skrill?

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

Can I Buy Mirrored iShares Silver Trust (mSLV) with Bitcoin?

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

Can I Buy Mirrored iShares Silver Trust (mSLV) with Ethereum?

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

What Is the Best Payment Method to Buy Mirrored iShares Silver Trust (mSLV)?

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

How to Protect Mirrored iShares Silver Trust (mSLV)?

Once you have purchased the Mirrored iShares Silver Trust, 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 Mirrored iShares Silver Trust (mSLV)?

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

Can I Mine Mirrored iShares Silver Trust (mSLV) 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 Mirrored iShares Silver Trust is to buy it from a reliable exchange.

Conclusion

Having a platform that offers synthetic asset can be profitable, especially on the longer period of time. Those who have crucial digital assets can always carefully decide what they want to do with those assets and they can make use of the smart contracts to ensure the safety of the platform. However, investors or interested users need to understand that their only entryway is through crypto purchase. It means that they must buy Mirrored iShares Silver Trust (mSLV) first.

Leave a Comment

error: