In this guide you’ll get information about where to buy Tellor, if you are planning to buy TRB token – You’re in the right place!
Ethereum blockchain may be powerful and strong, but it has its own downsides and flaws – including the issues related to oracle. Tellor was created to address the issue, especially within ETH blockchain. The platform was launched by American developer team in 2019. It is a secure, decentralized, and Ethereum-based oracle for DeFi DApps. Tellor enables the DeFi DApps to get high-value and crucial data for the smart contracts. Staked miners make sure that the data feed would stay reliable and stable. The miners themselves take part within PoW (Proof of Work) consensus.
The platform is designed by Brenda Loya (who is the co-founder and also CEO of the platform) and Michael Zemrose (also the c0-founder of the platform). Tellor was designed and constructed because Ethereum (and other similar platforms) aren’t perfect. In order to work perfectly, a blockchain platform needs a trusted oracle which would be responsible for dispute, settlement, and valuations resolution. Secure and trusted oracles are important because they are supposed to deliver data feeds that are stable and reliable. If the oracle is compromised, then the platform would fall apart.
Table of Contents
Tellor (TRB) Features
- TRB token. This is the major power within Tellor ecosystem. The token is designed with Ethereum base and it functions as the main incentive for miners.
- Active oracle. The oracle would choose the query (the best-funded type) every once in 10 minutes and then provide a challenge, intended for miners.
- Fair and profitable rewards. Miners have crucial role within this platform. Not only they solve problems, but they also provide solution for PoW consensus – along with the data point (the off-chain one). That’s why it is logical that miners are rewarded for their contribution and also mining efforts.
- Secure and fair network. Everyone can dispute the mined value’s validity, as long as they have TRB tokens. The tokens are needed as the dispute fee although the resolution needs to be managed and done within 24-hours of interval.
Where to Buy, Sell and Trade Tellor aka TRB
You can basically use debit card, credit card, or even PayPal to buy the Tellor (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Tellor 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 Tellor. 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 or Bitcoin
- Find a crypto exchange that supports Tellor currency and exchange your Ethereum or Bitcoin with the Tellor
- Store your Tellor 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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Tellor, 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 Tellor:
IMPORTANT! Once you are registered to any of the above, find the BTC/TRB or ETH/TRB 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 Tellor (TRB) 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 Tellor (TRB) 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 Tellor. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Tellor (TRB) 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 Tellor (TRB) with Skrill?
You can’t buy TRB directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Tellor. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Tellor (TRB) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/TRB and begin the transactions.
Can I Buy Tellor (TRB) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/TRB trading pair.
What Is the Best Payment Method to Buy Tellor (TRB)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Tellor right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Tellor (TRB)?
Once you have purchased the Tellor, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Tellor (TRB)?
Find a crypto exchange which allow pairing TRB with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Tellor (TRB) and Not Buying It?
Yes, you can.
Tellor is designed as a platform that provides oracle resolution for Ethereum-based ecosystem. With major blockchains having oracle issues, Tellor is determined to provide solutions and ‘way out’. With solutions to common oracle issues, Tellor is expected to provide answers and solutions for better future of stable blockchain. Anyone who wants to join the platform must buy Tellor (TRB) first as their way into the network – and finally reap the benefits.