How to Buy Synapse (SYN) in 2022: A Simple Guide

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

Synapse is a global cross-chain liquidity network connects multiple blockchains to provide an extensible protocol for cross-chain communication. The protocol manages smart contract calls, supports assets, and more. Through Synapse, blockchains are interconnected so they can securely and easily interoperate with each other. Besides, developers are able to build actual cross-chain apps such as derivatives markets, lending platforms, yield aggregators, margining systems, cross-chain DEX, and many more.

This cross-chain protocol is well-known for Synapse Bridge, its first app built using Synapse. It helps users transfer assets in a seamless way through more than 15 EVM and non-EVM blockchains. The Synapse Network guarantees its security as it is secured by MPC validators with threshold signature schemes (TSS). Each validator goes through the same procedure upon receiving on-chain events on different chains tracked by the MPC validator group. When more than a half of the validators have signed the transaction, a consensus is achieved.

Synapse (SYN) Features

  • The Synapse Chain. With this feature, developers can build on top of Synapse cross-chain liquidity and make a new protocols’ generation. In this way. They can interact with assets regardless their location on the blockchain. In addition, the Synapse Chain serves as a major building block of the entire new class of cross-chain apps.
  • Synapse xAssets. These assets can be used, stored, sent, and received on multiple blockchains as they are multi-chain enabled assets. This functionality augments the distribution of token by virtue, making the token available to more users. Any assets can be upgraded into Synapse xAssets and the projects which upgrade their assets can be deployed on existing and future chain supported by Synapse.
  • Synapse AMM Pools. These pools use a stableswap algorithm in the process of bridging and swapping to price transaction and incentive rebalancing. The pools are run on each chain interconnected with the Synapse Network, enabling trustless and rapid liquidity flows among the chains involved. As a result, dynamic pricing is achieved and this leads to a constant capital relocation to the most favored ecosystem. Eventually, in the process of providing fees for protocol revenues, arbitragers are incentivized via the AMM pricing.

Where to Buy, Sell and Trade Synapse aka SYN

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

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

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

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

Can I Buy Synapse (SYN) 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 Synapse (SYN) with Skrill?

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

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

Can I Buy Synapse (SYN) with Bitcoin?

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

Can I Buy Synapse (SYN) with Ethereum?

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

What Is the Best Payment Method to Buy Synapse (SYN)?

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

How to Protect Synapse (SYN)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Synapse (SYN)?

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

Conclusion

As the heart of the ecosystem, Synapse (SYN) plays an integral part. Not only is it used for transaction fees on the network, it also serves as a governance token in which it is used for voting that impacts smart contract upgrades from DAO treasury. Besides, SYN is used to incentivize liquidity providers. The wide utility and popularity of the token will escalate its value.

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