How to Buy Sora (XOR) in 2021: A Simple Guide

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

Sora is a platform that introduces new economy that digitalizing the central bank. It’s basically about combining the role of a central bank with a new technology: the decentralized system. The idea is to bring new technology to the traditional system so users should be able to send or receive (digital) money through several clicks of their fingertips. Naturally, this method is different from the regular online system because the decentralized technology is about the combination of secure network, smart contracts, and automated system.

Moreover, the platform is incorporating new path that can construct parachain blockchain, connecting it to the Polkadot chain and ecosystem. That’s why all of the tools are designed and created with DeFi focus. What’s special and unique about Sora is its handy tools (for decentralized applications). The network uses digital assets (like atomic token swaps), to make bridge tokens to other blockchains, and then create rules (programmatic type) that involve those digital assets.

Sora (XOR) Features

  • Governance. Users who want to join Sora can decide whether they want to be a part of the governance system. If they do, it means that they would be chosen for the Parliament that can determine the future of the platform. Through governance, users can provide their vote or opinions concerning capital allocation and network updates.
  • Community focus. The governance is the simplest and most straightforward example of community focus and role in making crucial decisions
  • Open source and welcoming environment. Any user is free to propose projects which would be built on Sora. The proposal would then be reviewed (by the Parliament) before they can decide whether they want to allocate the funds (XOR) for the project or not
  • Voting rights. Those who have joined in the Parliament can use their voting rights to decide whether network’s changes and projects can be executed or not
  • Staking chances. Those who want to get profits and get earnings can stake their tokens in order to get rewards in return.
  • Polkaswap existence. For users who are more interested in trading or exchanging, Polkaswap would be the most ideal place for it. Users can exchange tokens from various different networks, including Kusama, Ethereum, Sora, or Polkadot.

Where to Buy, Sell and Trade Sora aka XOR

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

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/XOR or ETH/XOR 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 Sora (XOR) 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 Sora (XOR) 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 Sora. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Sora (XOR) 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 Sora (XOR) with Skrill?

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

Can I Buy Sora (XOR) with Bitcoin?

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

Can I Buy Sora (XOR) with Ethereum?

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

What Is the Best Payment Method to Buy Sora (XOR)?

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

How to Protect Sora (XOR)?

Once you have purchased the Sora, 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 Sora (XOR)?

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

Can I Mine Sora (XOR) 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 Sora is to buy it from a reliable exchange.

Conclusion

Sora is basically one-stop-platform that has it all. It can be used for transactions, exchanging tokens, staking – for investments. It also can be used for governance. The tools are the reasons why this platform so impressive in its operation. Feel free to join the platform, but make sure to buy Sora (XOR) first because it’s the only way to get into the network.

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