This article teaches you how to get Elastos (ELA) coins

Interested in acquiring ELA coins? Learn about the Elastos ecosystem, different acquisition methods, including exchanges, direct purchases, mining, and staking, and secure storage options for your ELA holdings.

Jan 06, 2025 at 03:32 am

Ultimate Guide: How to Acquire Elastos (ELA) Coins

Key Points:

• Understanding the Elastos Ecosystem and ELA Coin
• Acquiring ELA Coins through Exchanges
• Purchasing ELA Coins Directly from Fiat Currency
• Earning ELA Coins through Mining and Staking
• Managing and Storing ELA Coins

Step 1: Understanding the Elastos Ecosystem and ELA Coin

Elastos is a decentralized, open-source blockchain platform designed to provide secure, flexible solutions for various industries, including identity management, digital advertising, and smart contracts. ELA is the native token of the Elastos ecosystem, serving as a medium of exchange, gas fees, and staking rewards.

Step 2: Acquiring ELA Coins through Exchanges

1. Binance: Binance is one of the largest cryptocurrency exchanges offering ELA trading, with high liquidity and low fees.
2. Huobi: Huobi is another popular exchange for ELA, providing a range of trading options and competitive rates.
3. KuCoin: KuCoin specializes in altcoin trading, including ELA, and offers attractive bonuses for referral and trading volume.
4. Coinbase: Coinbase, known for its user-friendliness, allows purchasing ELA indirectly through USD pairs.
5. OKEx: OKEx is a leading exchange for derivatives trading, offering ELA futures and options contracts.

Step 3: Purchasing ELA Coins Directly from Fiat Currency

1. Changelly: Changelly is a popular exchange aggregator, providing instant fiat-to-crypto conversions with over 40 fiat currencies supported.
2. Simplex: Simplex enables direct credit and debit card purchases of ELA through selected exchanges.
3. Visa Direct: Visa Direct, in partnership with Elastos, allows instant, global remittance of ELA using Visa cards.

Step 4: Earning ELA Coins through Mining and Staking

1. Mining: ELA can be mined using specialized hardware called ASICs. Joining mining pools is recommended for increased profitability.
2. Staking: Holders can stake their ELA coins in the Elastos wallet to earn passive rewards for contributing to network security.

Step 5: Managing and Storing ELA Coins

1. Elastos Smart Wallet: The official Elastos wallet provides a secure and convenient way to manage and store ELA coins.
2. Hardware Wallets: Hardware wallets, such as Ledger and Trezor, offer advanced security by storing private keys offline.
3. Desktop and Mobile Wallets: Desktop and mobile wallets, like the DigiByte Core Wallet and the Divi Wallet, provide additional storage options with user-friendly interfaces.

FAQs:

Q: What is the current market price of ELA?
A: The current market price can be checked on cryptocurrency exchanges or price tracking websites.

Q: Is it profitable to mine ELA?
A: The profitability of ELA mining depends on factors such as electricity costs, hardware efficiency, and network difficulty.

Q: What is the total supply of ELA coins?
A: The total supply of ELA is capped at 33 million coins.

Q: Is ELA a good investment?
A: The investment potential of ELA is subjective and depends on various market factors. It's recommended to conduct thorough research before investing.