How to obtain Akash coin

To obtain Akash coin (AKT), users can purchase it on cryptocurrency exchanges, earn it through staking, participate in airdrops or giveaways, provide cloud computing services, use AKT to pay for cloud services, contribute to the Akash ecosystem, engage in liquidity mining, or utilize a referral program.

Nov 15, 2024 at 10:08 am

How to Obtain Akash Coin

Akash Network is a decentralized cloud computing platform that enables users to rent out their spare computing resources or access cloud computing services without relying on traditional cloud providers. The native token of the Akash Network is AKT, which is used for various purposes within the ecosystem. In this comprehensive guide, we will explore the different methods available to obtain Akash coin.

1. Purchase AKT on Cryptocurrency Exchanges

• Binance: Binance is the largest cryptocurrency exchange by trading volume and offers AKT trading pairs against USDT and BUSD. It provides a user-friendly interface and supports multiple fiat deposit methods.
• Huobi Global: Huobi Global is another popular cryptocurrency exchange that offers AKT trading pairs against USDT and BTC. It is known for its competitive fees and wide selection of altcoins.
• KuCoin: KuCoin is a cryptocurrency exchange focused on altcoins and offers AKT trading pairs against USDT and BTC. It has a user-centric platform and supports various payment options.

2. Earn AKT Through Staking

• Solo Staking: AKT holders can stake their tokens in their own wallets to earn rewards. This involves setting up a staking node and participating in the consensus process. However, running a staking node requires technical expertise and hardware resources.
• Staking Pools: For those who do not wish to run their own staking nodes, staking pools allow users to delegate their AKT to a pool operator. The pool operator will receive rewards and distribute them to pool participants based on their stake.

3. Participate in Airdrops and Giveaways

• Airdrops: Airdrops are free distributions of tokens to users who meet specific criteria. Akash Network has conducted several airdrops in the past, rewarding participants who completed tasks or held certain assets.
• Giveaways: Giveaways are promotions where users can participate in contests or answer questions to earn a chance to win AKT tokens.

4. Provide Cloud Computing Services on Akash Network

• Listing Resources: As a cloud provider, you can list your spare computing resources on Akash Network. When your resources are consumed by users, you earn AKT tokens as payment.
• Developing and Hosting Akash-compatible Applications: Developers can create and host applications on Akash Network, which can generate revenue in the form of AKT tokens if users choose to pay for their services.

5. Use AKT to Purchase Cloud Computing Services

• Payment for Cloud Services: AKT is the primary currency used to pay for cloud computing services on Akash Network. Users can purchase compute, storage, or bandwidth from providers and settle payments in AKT.

6. Rewards for Contribution to the Akash Ecosystem

• Bug Bounty Program: Akash Network offers a bug bounty program, where researchers can earn AKT tokens for identifying and reporting vulnerabilities in the platform.
• Hackathons and Contests: Akash Network hosts hackathons and contests where participants can develop innovative solutions and win prizes in AKT tokens.

7. Liquidity Mining

• SushiSwap Liquidity Pool: Users can provide liquidity to the AKT-USDT pool on SushiSwap. By staking a pair of tokens, users can earn trading fees from swaps.

8. Referral Programs

• Referrals: Refer friends or colleagues to Akash Network and earn commission rewards in AKT tokens for each successful referral.