How to buy ILV coins

To purchase ILV coins, players can create an account on supported cryptocurrency exchanges, fund it, find the ILV trading pair, and execute a buy order, specifying the quantity and order type.

Nov 26, 2024 at 09:30 pm

How to Buy ILV Coins: A Comprehensive Guide

Understanding ILV Coins

ILV coins are the native cryptocurrency of the Illuvium game, a blockchain-based role-playing game (RPG). Players use ILV to purchase in-game assets, such as characters, weapons, and land. The coin can also be used to stake for rewards, participate in governance, and pay transaction fees within the Illuvium ecosystem.

Step 1: Create a Cryptocurrency Exchange Account

To buy ILV coins, you will need an account on a cryptocurrency exchange that supports the token. Some popular exchanges that offer ILV include:

• Binance
• KuCoin
• Huobi Global
• Coinbase Pro
• Gate.io

Follow the exchange's registration process, which typically involves providing personal information, verifying your identity, and setting up two-factor authentication (2FA) for added security.

Step 2: Fund Your Exchange Account

Once you have created an account, you need to fund it with the currency you will use to purchase ILV coins. Most exchanges support fiat currencies (e.g., USD, EUR) and cryptocurrencies (e.g., BTC, ETH). You can deposit funds through various methods, such as:

• Bank transfer: Send money from your bank account to your exchange account. This method is generally slower but often has lower fees.
• Credit/debit card: Purchase cryptocurrency directly with your credit or debit card. This method is convenient but may incur higher fees.
• Cryptocurrency transfer: Transfer cryptocurrency from another wallet or exchange to your exchange account. This method is fast and has minimal fees.

Step 3: Find the ILV Trading Pair

Navigate to the exchange's trading interface and find the trading pair for ILV. This will be a combination of ILV with the currency you funded your account with (e.g., ILV/USDT, ILV/BTC).

Step 4: Place a Buy Order

Once you have found the ILV trading pair, you need to determine the type of order you want to place. There are two main types of orders:

• Market order: Buy ILV at the current market price. This is the simplest order type, but it may result in a slightly different price than expected due to market fluctuations.
• Limit order: Buy ILV at a specific price. This order type allows you to specify a target price and your order will be executed only when the market price reaches that level.

Step 5: Enter Your Order Details

For both market and limit orders, you need to enter the following details:

• Quantity: Enter the amount of ILV you want to buy.
• Total: The estimated total cost of the order will be displayed.

Step 6: Execute the Order

Review your order details carefully and click the "Buy" button to execute the order. Depending on the order type, your order may be filled immediately or may take some time to be executed.

Step 7: Confirm Your Purchase

Once your order is executed, you will receive a confirmation message from the exchange. You can then check your exchange wallet to see your newly purchased ILV coins.

Step 8: Store Your ILV Coins

To secure your ILV coins, it is highly recommended to transfer them to a hardware wallet or a non-custodial cryptocurrency wallet. This gives you full control over your private keys and provides an additional layer of security against potential hacks or exchange closures.