how to buy chain

Chain is a useful cloud blockchain that helps organizations build high-quality financial services and features. On social media, the demand for Chain has increased significantly. Due to Chain’s popularity, many traders have started asking questions like “how to buy Chain (XCN)” and “where to buy Chain (XCN).”

If you want to buy XCN but don’t know where to start, you will learn a lot from this article. We’ll cover the fundamental steps of buying XCN, as well as some essential topics about the token.

Chain (XCN) Buying Guide

Step 1: Find An Exchange That Supports XCN

To start buying XCN, you must create an account in a compatible crypto exchange. Finding this exchange is easy because there are numerous active marketplaces that support XCN.

Cryptocurrency platforms may be similar in purposes but different in operation. Some crypto exchanges have seamless functionality while others have premium security with reasonable transaction fees.

  • 1000+ Cryptocurrencies Available for Trade
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  • 1500+ Cryptocurrencies Available for Trade
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  • 10% reduced trading fees & up to $170 in USDT vouchers*
  • Available in North America, South America, Europe, Asia, Oceania, Africa

Registering to a crypto exchange will take only a few minutes. To start, you must enter your basic personal details like full name, email address, and password. The crypto exchange may also require you to add a home address and a phone number for verification. 

You probably need to fill up a KYC (Know Your Customer) form before proceeding with any transaction. The KYC process is a security option implemented by heavily regulated exchanges and financial websites.

Step 2: Deposit Funds to Your Exchange Account

Before buying XCN, you must add funds to your new crypto account. Depositing funds is easy because most exchanges allow crypto-to-fiat transactions. Some of the popular examples of fiat currency are USD, CAD, AUD, and EUR. You can fund your account through debit cards, credit cards, bank transfers, and e-wallet transfers.

Crypto exchanges have different payment methods for transactions. These methods probably have higher fees than the ones you’re commonly using. So, before depositing funds to your crypto account, you should do your own research.

Step 3: How to Buy XCN Officially?

Learning how to buy XCN is not difficult. First, you must go to a crypto exchange’s search bar. Oftentimes, the search bar is located on top of the website page. Once you’ve located the search bar, start looking for the XCN ticker. You can also look directly for XCN trading pairs to save time. Afterwards, just enter the amount of the XCN tokens that you want to buy.

You must always double-check the transaction details to avoid errors or inconsistencies. Additionally, before the transaction, crypto exchanges might refer you to their exclusive wallet software. This wallet is essential for storing your cryptocurrencies, but it is optional since you can always create an individual software wallet. If you have money to spare, you can even purchase a hardware wallet with competitive security encryption.

Everything You Have to Know About Chain (XCN)

Chain (XCN) is a dynamic and multi-functional blockchain network that allows the seamless creation of ledger-based apps and programs. While Chain offers numerous helpful options for regular users, the platform is more beneficial to app developers and program builders.

Here are the top features of Kucoin:

  • Chain Core for building apps and systems
  • Chain Sequence for building and managing ledger-based assets
  • Advanced tokenization functions
  • Easy program setup for developers
  • Block signer system for nodes

Chain is currently facing a semi-healthy market trend. One possible reason for this trend is the rising demand for multi-chain, interoperable, and advanced platforms with low overhead.

How Does XCN Work?

XCN, the native token of Chain, is primarily used for trading, investments, service payments and staking. XCN holders can stake their tokens to gain rewards from the Chain ecosystem.

What Makes Chain (XCN) Unique?

Chain protocol is not just the ordinary blockchain infrastructure. It is a secured multi-asset cryptographic ledger that has high levels of functionality and interoperability. Since the Chain framework is decentralized, no central authority is needed to govern all ledgers. Every node is a ‘block signer’ responsible for validating transactions.

Building an asset in Chain is a straightforward process. The user just needs to enter commands related to asset issuance. The assets will then be turned over to ‘control programs’ that can link up easily with smart contracts. Chain’s simplicity is the solution to the common scalability problems of decentralized apps and complicated blockchain programs.

The Chain Core is the primary application that contains all of the essential features of Chain protocol. Users who need exact ledger-driven functions can choose Chain Sequence – the app designed for building complicated service systems.

Who Are the Founders of Chain (XCN)?

The founder of Chain is Adam Ludwin – a graduate of UC Berkeley. Ludwin once worked as a professional consultant with The Boston Consulting Group. Under Ludwin’s skills and experience, Chain became a multi-functional distributed ledger blockchain with various functionalities.

What Are the Use Cases of Chain (XCN)?

The Chain token (XCN) has simple use cases for users, traders, and developers. Understanding these use cases will help you determine if XCN is aligned with your risk appetite and preferences.

Here are the common use cases of XCN:

  • Speculative trading
  • Investment
  • Transaction fees
  • Service payments
  • Staking and governance

Who Builds on Chain (XCN)?

The Chain protocol is designed for app builders and developers who are looking for efficient ways to build financial service programs. Using Chain’s top products, developers can build various apps like ledgers, mobile wallets, yield aggregators, investment trackers, and many more. Regular users, on the other hand, can use Chain to grow their portfolios or gain daily margins through trading.

Official website: https://chain.com/

Essential Points of the Chain (XCN) Whitepaper

The Chain Whitepaper discussed the structural framework and operating mechanisms of the Chain protocol. Additionally, the paper also covered the tokenomics of XCN.

These are the strong points of the Chain (XCN) Whitepaper:

  • The Chain Core software
  • The Chain Sequence (ledger-as-a-service)
  • Multi-asset support
  • Chain Virtual Machine (CVM)
  • The “block signer” system
  • Chain’s security capabilities
  • XCN tokenomics

The Best Cryptocurrency Wallet for XCN

After knowing how to buy XCN, you should think about the security of your cryptos next. Fortunately, you can always choose from dozens of available crypto wallets. You should pick a crypto wallet based on your trading habits and security preferences.

You will likely begin your crypto journey with hot storage wallets. These digital wallets are connected online, allowing easy access whenever you want. Hot storage wallets are also cheaper than cold storage wallets. However, one downside of a hot wallet is its vulnerability to online theft. You may need to use additional security measures to keep your hot storage wallet safe.

On the other hand, cold storage wallets are physical hardware wallets. Since cold wallets are tangible, their security level is better than digital wallets. You can put a physical storage wallet in a separate deposit box for premium protection.

What Factors Affect My Choice of Crypto Wallet for XCN?

At first, you might get confused with the diverse choices of crypto wallets in the market today. Knowing the common buying factors for crypto wallets will help you make the right decision.

Check out the important factors affecting your choice of XCN wallet:

  • Are you a regular trader? If so, then a hot storage wallet is the best choice for you. A hot wallet allows a quick and easy log-in method to your chosen platform. In less than a minute, the integrated hot wallet will let you trade XCN right away.
  • Not all wallets support a wide range of cryptocurrencies. The best crypto wallets are those that will let you trade hundreds of cryptocurrencies without limitations.
  • When it comes to security, a physical cold storage wallet is better than a hot wallet. You can simply store your cold wallet in a private safe deposit at home or the bank. Just make sure that your private seed phrase is safe and secured.
  • Setting up a digital wallet is free. On the other hand, getting a cold storage wallet requires money because you need to buy the physical hardware.
  • Do you want to see detailed technical analytics? In that case, you can never go wrong with hot wallets. In most cases, hot wallets generate technical analytics and semi-accurate market insights to help you make a trading decision. Cold wallets also have analytics capabilities that you can tweak freely.

Ledger vs. Trezor – The Best Crypto Wallet for Traders and Investors

Now that you already know how to buy XCN, you must protect your investment by choosing a cold storage wallet. As mentioned above, cold wallets offer better security levels than hot wallets.

When it comes to cold storage wallets, it’s best to start with Ledger or Trezor products.

Ledger is a popular cold wallet brand because of its reliable security features. The Ledger interface, for example, will only let you send cryptos if you’re connected to a personal computer or device.

If Ledger excels in security functions, Trezor wins in terms of intuitiveness and compatibility. Trezor’s interface is beginner-friendly, allowing fast and efficient trades once the device is ready. Trezor products are also compact and appealing to the eyes. 

General Market Overview for Chain (XCN)

Do you want to learn more about Chain (XCN) and other crypto coins? Check out our crypto blog and expand your knowledge about cryptocurrencies!

Additionally, here are some important topics in our blog:

  • Trading speculation about Chain (XCN)
  • The current market prices of cryptos
  • Detailed price charts with comprehensive histories
  • Whitepaper summaries of cryptos
  • Founder profiles and their related works
  • Up-to-date cryptocurrency news and developments

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