In this guide you’ll get information about where to buy Octopus Protocol, if you are planning to buy OPS token – You’re in the right place!
Octopus is an open, decentralized protocol for the creation, exchange, and settlement of synthetic assets. Through decentralized derivatives, the issuance of synthetic tokens and their exchange becomes possible and easy. The protocol uses blockchain, smart contracts, and other technological solutions to create a platform integrated with decentralized derivatives. Octopus attempts to provide unparalleled through a trustless architecture that expose to real-world assets.
By issuing derivatives on blockchain, market participants can develop DeFi protocols for tailored synthetic tokens. However, there are greater requirements of collateral demanded by the market protocols so minting synthetic tokens is difficult to afford. For this reason, Octopus Protocol tries to reduce the gap between collateral and token creation to facilitate an optimal solution for developers and DAO in issuing synthetic assets. In a nutshell, Octopus Protocol built on BSC is a robust DeFi protocol that allows derivative assets management, trade, and issuance.
- Official website: https://octopus.exchange/#
- Reddit: https://www.reddit.com/user/OctopusProtocol/
- Twitter: https://twitter.com/octopusprotocol
- Telegram: https://t.me/OctopusProtocol
- Whitepaper: https://octopus.exchange/docs/Octopus_Protocol_LitePaper.pdf
Octopus Protocol (OPS) Features
- Unparalleled Access to Real-world Assets. Octopus Protocol relies on DeFi innovation to provide unparalleled exposure and access to real-world assets in a decentralized ecosystem. As a result, any individual as well as party or DAO have fair and equal access to financial tools without the involvement of third-party intermediaries or centralized control.
- Minimal Usage of Oracles. Most of current oracle solutions are prone to corruption as they are vulnerable in the design. To mitigate the problem, Octopus Protocol minimizes the oracles’ usage. The reliance on oracles is reduced by providing off-chain data to perform transaction in an incentivized blockchain environment. This will increase safety within the ecosystem.
- Unlimited Design Possibilities. The protocol allows the creation of a basket of tokens represented by a synthetic asset that calculates the price of the whole instruments. This basket of assets can include numerous investment fiat currencies, digital assets, bonds, and commodities instead of being limited to cryptocurrencies.
- Customized Derivative Contracts. The protocol enables exposures to any types of financial derivatives without taking the geographical boundaries and limitations of the present financial ecosystem into accounts.
Where to Buy, Sell and Trade Octopus Protocol aka OPS
You can basically use debit card, credit card, or even PayPal to buy the Octopus Protocol (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Octopus Protocol 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 Protocol. 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 (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports Octopus Protocol currency and exchange your Ethereum / Bitcoin / Tether with the Octopus Protocol
- Store your Octopus Protocol 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.
Get $10 Bonus when you sign up for Coinbase!
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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.
That’s the first step in buying Octopus Protocol, 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 Protocol:
- 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 OPS/BTC or OPS/ETH or OPS/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you OPS/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Octopus Protocol (OPS)
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 Protocol (OPS) 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 Octopus Protocol (OPS) 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 Protocol. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Octopus Protocol (OPS) 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 Protocol (OPS) with Skrill?
You can’t buy OPS directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Octopus Protocol. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Octopus Protocol (OPS) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair OPS/BTC and begin the transactions.
Can I Buy Octopus Protocol (OPS) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support OPS/ETH trading pair.
What Is the Best Payment Method to Buy Octopus Protocol (OPS)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Octopus Protocol right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Octopus Protocol (OPS)?
Once you have purchased the Octopus Protocol, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Octopus Protocol (OPS)?
Find a crypto exchange which allow pairing OPS 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 Protocol (OPS) 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 Protocol is to buy it from a reliable exchange.
Octopus Protocol is definitely an interesting blockchain project. In addition to leverage blockchain innovation, it utilizes automated smart contracts that eliminate the dependency on third-party intermediaries. This solution is what all DeFi users need today especially because it is an affordable solution, opening up opportunities for anyone to mint tailored synthetic assets without a high amount of collateral. For those reasons, many people will be attracted to use the protocol and this will lead to the increasing value of OPS as the token of the protocol.