In this guide you’ll get information about where to buy Tornado Cash, if you are planning to buy TORN token – You’re in the right place!
Tornado Cash is designed as a non-custodial platform that focuses on privacy solution within Ethereum network – and it is based on zkSNARKs technology. The problem with today’s blockchain technology is privacy. Users are able to hide their identities, but their trace (of activities) can be tracked and monitored. Smart contracts aren’t really safe or protected from hacking attempts, so the blockchain itself is pretty vulnerable. That’s why first generations of blockchain technology and network (such as Litecoin or Bitcoin) are extremely popular, but they lack of features to support full anonymity.
Tornado Cash is designed to solve those issues. The protocol makes sure that users are able to break a link within the platform’s on-chain activity. It is designed in such a way to improve the privacy and transaction between the destination address and the recipient. The platform acts as a complex token mixer. It utilizes smart contracts to accept deposits (in Ethereum) which can be withdrawn to another address. The withdrawal itself is made from the smart contract (liquidity) pools so knowing the real and original sender would be impossible.
Table of Contents
Tornado Cash (TORN) Features
- TORN token. This would be the major fuel in the platform that acts as the utility. It can be used for rewarding users as well as for governance. After all, without any cryptocurrency, what’s the point of having a blockchain platform, right?
- Anonymity mining. Users can support the platform and also the privacy features (of the projects) by providing liquidity. Those who do it would be rewarded. Moreover, the platform integrates privacy during anonymity mining via (two-stage) shielded mining system.
- Advanced coin mixers. The concept of coin mixers isn’t a new thing in crypto business. However, other services aren’t as sophisticated or advanced as Tornado Cash. Moreover, the platform has undergone audits for the smart contracts, so users can be sure about the safety of the platform.
- Governance mechanism. Members of the community who want to take part in the governance system should lock their tokens up within the governance contract. During the governance proposal’s voting or creation, the already deposited TORN tokens won’t be unlocked – before the execution period of the proposal ends. Users who don’t want to vote on themselves should are able to delegate their voting power to another user (in this case, address).
Where to Buy, Sell and Trade Tornado Cash aka TORN
You can basically use debit card, credit card, or even PayPal to buy the Tornado Cash (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Tornado Cash 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 Tornado Cash. 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 Tornado Cash currency and exchange your Ethereum or Bitcoin with the Tornado Cash
- Store your Tornado Cash 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 Tornado Cash, 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 Tornado Cash:
IMPORTANT! Once you are registered to any of the above, find the BTC/TORN or ETH/TORN 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 Tornado Cash (TORN) 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 Tornado Cash (TORN) 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 Tornado Cash. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Tornado Cash (TORN) 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 Tornado Cash (TORN) with Skrill?
You can’t buy TORN directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Tornado Cash. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Tornado Cash (TORN) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BTC/TORN and begin the transactions.
Can I Buy Tornado Cash (TORN) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support ETH/TORN trading pair.
What Is the Best Payment Method to Buy Tornado Cash (TORN)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Tornado Cash right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Tornado Cash (TORN)?
Once you have purchased the Tornado Cash, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Tornado Cash (TORN)?
Find a crypto exchange which allow pairing TORN with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Tornado Cash (TORN) 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 Tornado Cash is to buy it from a reliable exchange.
Tornado Cash is a perfect platform for users wanting to have a complete privacy and anonymity. Everything in this platform would be hidden, concealed, and covered – no one would be able to track the activities. Even if there is a hacking attempt, the hacker won’t be able to get anything valuable. Interested users must know how to buy Tornado Cash (TORN) first before they can take part in the network.