How to Buy SUP (SUP) in 2022: A Simple Guide

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

SUP is the governance token of the MOV SuperTx protocol (a more sophisticated and upgraded AMM trading mechanism than Uniswap) and an essential component of the MOV DeFi protocol suite. MOV is a DeFi protocol based on Bytom’s high-performance sidechain Vapor. SUP holders have voting rights in MOV SuperTx. MOV Exchange is a decentralized exchange that facilitates on-chain transaction matching and settlement by utilizing a cross-chain protocol. The Bytom value-exchange protocol serves as the foundation for MOV.

Liquidity providers have extensive control over their pooled stablecoins because to MOV’s SuperTx module. The absence of thresholds or constraints, as well as the lack of a lockup period and minor restrictions for transfer-in and transfer-out transactions, make it appealing to liquidity providers. As a protocol incentive, the liquidity charge of each trade is paid to the liquidity provider. The charge is subject to vary as a result of community governance.

SUP (SUP) Features

  • SUP Liquidity Mining. MOV Web may be used to participate in SUP mining operations. You simply need to deposit to the SuperTx pool, and the SUP farming will begin instantly.
  • Governance Rights. MOV SuperTx’s governance rights are held by SUP. It can select the SuperTx protocol’s trading cost, the listing token Pair in the liquidity pool, the SuperTx protocol’s development direction (voting and community suggestion), and so on.
  • SuperTx­. It employs the constant function market maker (CFMM) idea to assure more liquidity, lower slippage, and lower fees.
  • MagnEx. The magnetic exchange enables users to conduct on-chain asset transactions through contract, matching, and trading.
  • FlashSwap. FlashSwap’s lightning exchange technique matches off-chain transactions utilizing the quick transaction mode. The transactions are then finalized on the blockchain.
  • Bytom sidechain Vapor based on BUTXO. In reaction to flash loan assaults, MOV SuperTx uses the BUTXO-based Bytom sidechain Vapor, which prevents the building of flash loan attacks at the contract level. As a result, unlike many other DeFi initiatives on Ethereum, the security concerns to consider are distinct. Flash loans will have no effect on DeFi applications on MOV. Furthermore, side-chain isolation will be unaffected by Ethereum’s own flash loan assaults.

Where to Buy, Sell and Trade SUP aka SUP

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

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

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

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

Can I Buy SUP (SUP) 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 SUP (SUP) with Skrill?

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

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

Can I Buy SUP (SUP) with Bitcoin?

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

Can I Buy SUP (SUP) with Ethereum?

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

What Is the Best Payment Method to Buy SUP (SUP)?

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

How to Protect SUP (SUP)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell SUP (SUP)?

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

Conclusion

SUP is a significant social experiment. Its destiny is dictated by the community and by the numerous SUP owners. SUP will display its enormous worth by relying on the constant innovation and enhancement of MOV SuperTx products. The most recent SUP pricing, however, is unclear. The recent market capitalization and the volume of SUP in a 24-hour period are unknown. Therefore, it is preferable to keep a watch on the movement of the SUP.

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