PulseChain launched on May 12th, 2023.
Many individuals in the crypto space are eagerly waiting to get their hands on some PLS.
But since the blockchain is brand new, it will not be listed on major exchanges right away.
So buying PLS will be somewhat complicated for novice investors.
Use our continuously updated, Step-by-Step guide to learn the best ways on how to buy PLS.
The first step, and the most important step for any new crypto user, is to set up your very own self-custody crypto wallet.
If you already have a self-custody wallet, skip to Step 2.
Cryptocurrency was invented to get rid of middlemen.
Self-custody crypto wallets allow individuals to actually hold their own money directly under their control.
To setup a self-custody wallet:
The second step towards buying PLS is to on-ramp from fiat currencies, such as USD, to cryptocurrencies.
If you already own crypto in your self-custody, skip to Step 3.
There are three main ways to on-ramp:
Centralized exchanges hold large sums of cryptocurrencies and fiat currencies and allow users to exchange between the two.
Although there are reasons why using centralized exchanges go against cryptocurrency values, they offer a viable means of buying cryptocurrencies and sending them off into self-custody.
It is best practice to minimize your exposure to centralized exchanges as they have a track record of freezing, losing funds, and going bankrupt. See (not your keys, not your coins).
Follow these steps to convert USD into Crypto:
Some services allow users to use a credit card to buy crypto. These services deposit the crypto directly into your self-custody wallet.
Some services allow users to send cash from their bank accounts and mint a stablecoin directly to their self-custody wallets.
It is likely that starting out, PulseChain will not have direct on-ramps.
Therefore, users will have to bridge in value from other blockchains and into PulseChain.
For example, if you buy ETH on Coinbase and send it to your self-custody wallet, you will do so on the Ethereum blockchain.
So, you must use a bridge to transfer your ETH value into a native token on PulseChain.
PulseRamp is one such protocol which allows users to bridge to PulseChain.
If you have successfully set up a wallet, on-ramped, and bridged to PulseChain you have one last step.
You must take whatever token you now have on PulseChain to the biggest decentralized exchange, PulseX.
Once there, you will swap from the token you have, into PLS.
Congratulations, you have successfully bought PLS!
Thanks to True DeFi protocols such as Liquid Loans, there are ways to obtain PLS without buying it directly.
The Liquid Loans protocol offers two ways to earn PLS yourself:
Users can buy LOAN and place them in the staking pool. By doing this, users receive a share of the fees (in PLS) generated when PLS holders borrow USDL.
PulseChain ($PLS) is listed on SafeTrade and CoinTiger at the moment. If these are not available in your jurisdiction, you will have to bridge tokens from Ethereum to PulseChain using the PulseChain Bridge. Then you can swap the bridged tokens for PLS on a decentralized exchange.
Currently, MetaMask does not have its swap feature enable for PulseChain. But why would you want to swap within MetaMask anyway? They add an extra fee to the transaction. Instead, go directly to PulseX or another exchange to get the best deal.
You don't. Your tokens will automatically be copied over from Ethereum to PulseChain and they are on the blockchain and belong to your private key.
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Disclaimer:Please note that nothing on this website constitutes financial advice. Whilst every effort has been made to ensure that the information provided on this website is accurate, individuals must not rely on this information to make a financial or investment decision. Before making any decision, we strongly recommend you consult a qualified professional who should take into account your specific investment objectives, financial situation and individual needs.
Connor is a US-based digital marketer and writer. He has a diverse military and academic background, but developed a passion over the years for blockchain and DeFi because of their potential to provide censorship resistance and financial freedom. Connor is dedicated to educating and inspiring others in the space, and is an active member and investor in the Ethereum, Hex, and PulseChain communities.
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