How to buy and sell Akash coin

To buy Akash coin (AKT), choose a reputable cryptocurrency exchange, create an account, fund it, and navigate to the trading section to purchase AKT with USDT or BTC; store it securely in a hardware wallet or crypto wallet for optimal safety.

Nov 19, 2024 at 04:02 am

How to Buy and Sell Akash Coin

Introduction

Akash Network is a decentralized cloud computing platform designed to provide secure, cost-effective, and scalable cloud computing solutions to businesses and individuals. Its native cryptocurrency, AKT, serves as the main currency for transactions on the network. This comprehensive guide will delve into the ins and out of buying and selling Akash coin.

Step 1: Choosing a Cryptocurrency Exchange

The first step to buying or selling Akash coin is to select a reputable cryptocurrency exchange that supports the trading of AKT. Consider factors such as security, trading volume, fees, and user-friendliness. Some of the popular choices for trading AKT include:

1. Binance: Binance is the world's largest cryptocurrency exchange, offering a wide range of cryptocurrencies for trading, including AKT. It boasts a high trading volume, competitive fees, and advanced trading features.
2. KuCoin: KuCoin is another popular cryptocurrency exchange with comprehensive support for AKT trading. It features low trading fees, a user-friendly interface, and support for multiple payment methods.
3. Huobi Global: Huobi Global is a major cryptocurrency exchange based in China. It provides a secure trading platform, various trading pairs for AKT, and competitive fees.

Step 2: Creating an Account

Once you have chosen an exchange, you need to create an account. This typically involves providing personal information, including your name, email address, and a government-issued ID for verification. The verification process may vary depending on the exchange.

Step 3: Funding Your Account

You can fund your account with fiat currency (e.g., USD, EUR) or cryptocurrency. Most exchanges support multiple payment methods, including bank transfers, credit/debit cards, and other cryptocurrencies like Bitcoin or Ethereum. Follow the exchange's instructions to deposit funds into your account.

Step 4: Buying Akash Coin

To buy Akash coin, navigate to the exchange's trading section and search for the AKT/USDT or AKT/BTC trading pair (USDT or BTC is a commonly used stablecoin or cryptocurrency for trading). Enter the amount of USDT or BTC you want to spend and the number of AKT coins you wish to purchase. Preview the transaction details and confirm the trade.

Step 5: Storing Your Akash Coin

After purchasing AKT, it's essential to move your coins off the exchange for secure storage. Consider using a hardware wallet, a specialized device designed to securely store your cryptocurrencies offline. Alternatively, you can use a reputable crypto wallet like MetaMask or Trust Wallet.

Step 6: Selling Akash Coin

Selling Akash coin follows a similar process to buying. Navigate to the exchange's trading section, search for the AKT/USDT or AKT/BTC trading pair, and enter the amount of AKT you want to sell. Specify the USDT or BTC you wish to receive and confirm the trade.

Step 7: Withdrawing Your Funds

Once you have sold your AKT coins, you can withdraw the funds in fiat currency or cryptocurrency to your bank account or other cryptocurrency wallet. Follow the exchange's instructions to initiate the withdrawal process.