The Eureka coin is relatively new in the crypto market. It is a native coin of the Eureka Network Proof of Stake Blockchain. Since it is relatively new, it is not yet available on any popular exchange platforms. So, to buy the ERK, you would have to find an exchange platform that is trading it or supports exchange the coin using an exchange platform like https://alligat0r.com/. This article lists all the steps required to buy the coin along with little background on the coin itself to help you understand if you should buy the coin.
What is the Eureka coin (ERK)?
The Eureka PoS network is a fork of the Qtum blockchain, which created the native ERK. The blockchain works similarly to Ethereum since it has the exact consensus mechanism. The users can download a wallet for the ERK and become a node on the blockchain. By doing so, the users will verify transactions on the blockchain. The verifications help generate rewards in the form of ERK.
ERK was first tradable in 2019. It has a total supply of 149,165,327, out of which 66,528,690.75 are in circulation. The market capital of the coin, though, is relatively low compared to other projects at only $167,560. But that is due to the recent launch and usage. Also, the parent blockchain is yet to release or integrated with big projects. Once the blockchain takes off, the coin will have a massive possibility for the future.
How to buy a Eureka coin?
Since it is harder to obtain the ERK, the following steps can be used for buying it.
- Open coinmarketcap and search for the coin Eureka in the search bar. The search bar is present at the top right corner of the website beside the Sign-up button.
- Scroll down to see the various options on the coin page, namely Overview, Market, Historical Data, etc.
- Click on the Market option. Here you can see the exchange platforms where the asset can be bought.
- In addition, you can see the exchange pairs which can be used to exchange one coin from another.
- From the list of exchange platforms, choose one where you would want to trade. Weigh in the strengths and weaknesses of various platforms based on secuirity, pricing, liquidity, and reputation.
- Once your platform is chosen, swap the coins with the required coins.
When buying a cryptocurrency, it is easiest to trade it with USD. But if you want to trade it with another coin, then first create a wallet. Exchange the USD for another cryptocurrency for which your desired coin can be exchanged. Then exchange the coins. It is usually a time-consuming and sometimes an expensive process. It is best to wait until the asset is available freely on all platforms. But if you see huge potential and want to be an early investor, some compromises can be made.
Conclusion
Since the crypto market has not matured yet, it remains to be a high-risk investment to put your money here. Moreover, there are so many cryptocurrencies and tokens that it is almost impossible for every exchange platform to host every kind of coin.
Sometimes, a digital currency is not available on an exchange platform as the exchange platform wants to limit their risk by limiting the number of coins available for trade. But there are also numerous exchange platforms. If a cryptocurrency is unavailable on popular platforms, the above-listed process can identify platforms that support ERK.
Also, if you want to know more about the Eureka coin now that you know how to buy it, visit https://alligat0r.com/coins/erk/info.