How to Buy Octopus Network (OCT) in 2022: A Simple Guide

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

Octopus Network is a (decentralized) cryptonetwork that is designed for appchains running and launching. The idea is to unleash Web3.0 innovation wave, encouraging mass adoption and usage. Appchain is a blockchain with application specific mechanism. It is basically independent blockchain that is designed as a specific set application with customized design and use.

A lot of people often think that appchain and dApps are the same, while in reality, they aren’t. Appchains enable developers to customize or personalize the applications related to underlying consensus algorithm, economic design, and governance structure. Every appchain has its own self-governed economy and it has explicit processed (defined by code) to reach protocol upgrades’ agreements. Appchains have their own dedicated processing capacity for transactions. They can reach 1000 TPS (throughput) easily and also speedy finality.

In short, Octopus is able to launch (and run) the appchains in cheaper manner. Not to mention that the appchain gets some perks from being a part of well-connected network and from being an autonomous blockchain network with focus on rich facilities and services to utilize. The platform’s core technology is the blockchain interoperability with trust minimalistic concept. The appchains can interoperate with other blockchains (outside Octopus Network) either through bridges (on NEAR) or IBC pallet that can be connected to any IBC-enabled blockchains.

Octopus Network (OCT) Features

  • Trusted infrastructure. The platform has its own solid infrastructure support (for the appchains) which includes RPC gateway, block explorer, archive service, testnet, indexer, wallet integration, and more.
  • Solid community. The network functions as a meta community which scaffolds the new appchain community through recruiting, fundraising, tokenomics design, know-how sharing, token listing, and others.
  • Convenient interoperability. The appchains like the interoperability feature, which also covers trustless interaction with Ethereum, NEAR, and other IBC-enabled blockchains.
  • Solid security. Octopus Relay is responsible for the nice flexibility and also leased security that is cost effective. Appchains would decide the level of security (how much they want it), including how much they will be willing to pay for it.
  • Octopus Relay. This is the main core of the network. It refers to smart contracts set, running on the mainchain (the NEAR blockchain) implementing the security leasing market.

Where to Buy, Sell and Trade Octopus Network aka OCT

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

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 OCT/BTC or OCT/ETH or OCT/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

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

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 Octopus Network (OCT) 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 Octopus Network (OCT) 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 Octopus Network. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Octopus Network (OCT) 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 Octopus Network (OCT) with Skrill?

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

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

Can I Buy Octopus Network (OCT) with Bitcoin?

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

Can I Buy Octopus Network (OCT) with Ethereum?

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

What Is the Best Payment Method to Buy Octopus Network (OCT)?

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

How to Protect Octopus Network (OCT)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Octopus Network (OCT)?

Find a crypto exchange which allow pairing OCT 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 Octopus Network (OCT) 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 Octopus Network is to buy it from a reliable exchange.

Conclusion

Octopus Network is designed as a multichain platform that enables Web3.0 appchains to launch and run. The benefits of this platform include inexpensive, cost effective, and flexible interoperability and also complete infrastructure. The community is also solid with strong security. Anyone can make use of the provided technology and features, but they must buy Octopus Network (OCT) first.

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