How to buy Power Ledger (POWR)

If you want to buy POWR tokens, the native cryptocurrency of the Power Ledger energy trading platform, this guide is designed with you in mind.

Keep reading for step-by-step instructions on how to buy POWR with fiat or cryptocurrency, as well as details of the best POWR wallets and what you should consider before buying any tokens.

Where to buy POWR in Hong Kong

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Bittrex Global		Bank transfer, Credit card, Cryptocurrency, Debit card	USD	280 cryptocurrencies	Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.	Go to site View details	Compare	loading Fetching your data...
Bithumb Cryptocurrency Exchange		Cryptocurrency	KRW	191 cryptocurrencies	A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.	View details	Compare	loading Fetching your data...
Gate.io Cryptocurrency Exchange		Cryptocurrency	USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN	818 cryptocurrencies	Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in GateTokens if trade volume exceeds $100 in their first week. T&Cs apply. A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.	View details	Compare	loading Fetching your data...
IDEX Cryptocurrency Exchange		Cryptocurrency	-	257 cryptocurrencies	A decentralised cryptocurrency exchange where you can trade over 250 ERC20 tokens.	View details	Compare	loading Fetching your data...

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A step-by-step guide to buying Power Ledger

There are two ways to buy POWR tokens:

• Buy POWR with fiat currency
• Buy POWR with another cryptocurrency, such as bitcoin

There are currently no exchanges that list Hong Kong dollars (HKD) and POWR, however you could purchase it through an exchange that accepts USD or another fiat currency. Keep in mind you’ll face an exchange rate when converting to and from HKD. We’ve also included step-by-step instructions on how to trade another cryptocurrency for POWR below.

How to buy POWR with fiat currency

Although you can’t currently buy POWR with Hong Kong dollars, here’s an example of how to purchase it using USD.

• Step 1. Register for an Indacoin account

  You can buy POWR with USD on Indacoin. If you’ve compared a range of exchanges and decided you’d like to trade on Indacoin, visit the exchange’s website to sign up for an account.

  You’ll need to register for an account before you start trading and provide some information in order to verify your account. Once your account is verified, remember to enable 2-factor authentication for increased security.

• Step 2. Deposit USD

  You can deposit USD into your account using a credit card or debit card. Some Singapore debit cards may not work.

• Step 3. Buy POWR

  Once your USD deposit has cleared, click the “Buy/Sell” tab and find Power Ledger in the list of currencies available. Click on “Buy POWR”.

  You can then enter the amount of POWR you want to buy. Don’t forget to review the full details of your transaction before clicking “Buy POWR”.

• Step 4. Transfer your POWR tokens to an external wallet

  To ensure that your tokens are stored safely, it’s recommended that you transfer them to a private wallet. Make sure that you’re transferring your tokens to the correct address before you click “Send”.

How to buy POWR with cryptocurrency

If you want to exchange another cryptocurrency for POWR, here’s an example of how you can do it:

• Step 1. Buy BTC

  POWR is listed in trading pairs alongside several cryptocurrencies on a number of exchanges, with bitcoin and Ethereum most commonly used. For the purposes of this example, let’s look at how you can buy POWR with BTC.

  The first step in the process is to purchase some bitcoin – you can find out how to do that in our how to buy BTC guide.

• Step 2. Register for an account with Binance

  If you purchased bitcoin on the same exchange you’ll be using to buy POWR tokens, you can skip ahead to step 3.

  If not, you’ll need to sign up for an account on an exchange that lists POWR in one or more trading pairs. Binance is one of the world’s largest crypto exchanges and lists POWR in trading pairs with bitcoin, Ethereum and its own Binance Coin.

  To register for a Binance account you’ll need to provide your email address and create a password. Make sure that you enable 2-factor authentication on your account before depositing any funds.

• Step 3. Deposit BTC

  Unless the BTC you’re using to buy POWR is already held in your Binance account, you’ll need to transfer the BTC over to Binance from your external wallet. Before you can do this, you’ll need to make sure you’re depositing your BTC to the right address.

  Log in to your Binance account, click “Funds” and select “Deposits”. You can then choose bitcoin from the list of currencies and copy the relevant Binance wallet address or scan the QR code. Use this address to deposit funds from your external wallet.

• Step 4. Buy POWR

  Now it’s time to exchange your BTC for POWR tokens. To do this, click the “Exchange” tab and select either the “Basic” or “Advanced” trading view. Search for POWR/BTC and select a Limit, Market or Stop-Limit Order.

  You can then enter the amount of POWR you want to buy, remembering to take a moment to review your transaction details before you click “Buy POWR”.

• Step 5. Transfer your POWR tokens to an external wallet

  For secure long-term storage, it’s recommended that you transfer your POWR tokens off the exchange and into your own private wallet.

  To withdraw funds from your Binance account, click the “Funds” drop-down menu and select “Withdrawals”. Choose POWR from the list of currencies, enter your withdrawal amount and then paste in your wallet address. Your newly-acquired POWR tokens will then be sent to your private wallet.

How to sell POWR

If you want to sell any POWR tokens, the process is fairly similar to that described in step 4 above. However, you’ll need to enter your transaction details in the “Sell” tab rather than the “Buy” field.

It’s also important to point out that POWR can’t be exchanged for every possible crypto or fiat currency, so you may not be able to directly trade your Power Ledger tokens to the currency you want.

Which wallets can I use to hold POWR?

POWR tokens are ERC20 tokens on the Ethereum blockchain, which means there are plenty of options available when choosing a wallet.

The list of ERC20-compliant wallets is too long to include here, but some of the options you might like to consider for storing Power Ledger tokens include:

• MyEtherWallet (web wallet)
• Ethereum Wallet (desktop wallet)
• MetaMask (Chrome and Firefox browser extension)
• TREZOR (hardware wallet)
• Coinomi (mobile wallet)

Find out more about storing your tokens and coins in our guide to cryptocurrency wallets.

How Power Ledger works

Power Ledger is an Australian blockchain platform that aims to revolutionise the energy industry worldwide. It offers a peer-to-peer energy trading platform designed to do two things:

• Allow homeowners to trade the excess power produced by their home energy systems, such as solar panels.
• Provide a more affordable way for people to access energy, allowing them to buy surplus energy off other homeowners rather than buying from a utility company.

This means neighbours can trade renewable energy with one another, allowing them to make an income from the excess power they generate. Customers also have increased control over the price they sell their excess solar energy for and can receive instant billing settlement.

There are two separate tokens associated with the Power Ledger platform:

• POWR is the utility token that application hosts must escrow in order to use the platform.
• Sparkz are the electricity credits that consumers will interact with and they can be purchased and redeemed using fiat currency.

You can find a more detailed explanation of exactly how the platform works in our Power Ledger guide.

Power Ledger’s ICO was completed in October 2017, making it one of the first ICOs held in Australia, and raised $34 million. The company also offers a range of other products in varying stages of development, including electric vehicle metering and settlement and carbon credits trading.

What to consider if buying POWR

Cryptocurrencies are complicated and highly volatile assets and there are many competing factors that can have an impact on their price. It’s vital that you thoroughly research any crypto project and fully understand all the risks involved before purchasing any digital coins or tokens.

If you’re thinking of buying POWR tokens, take the following factors into account:

FAQs

• Can I buy Power Ledger tokens with my credit card?

  As of August 2018, there aren’t any cryptocurrency exchanges that accept HKD credit card deposits. One option you may consider is buying POWR through the Indacoin exchange. This platform accepts credit card deposits but doesn’t support HKD, so be aware of any currency conversion fees that apply.

• Can I buy Power Ledger tokens from my bank account?

  As of August 2018, there are no exchanges that currently list HKD and POWR in a pairing. However, you could use an exchange that accepts HKD deposits and purchase a cryptocurrency such as bitcoin (BTC) or Ethereum (ETH) and trade it for POWR.

• Can I buy Power Ledger tokens with cash?

  No, as of August 2018 there is currently no way to buy POWR with Hong Kong dollars.

Disclosure: At the time of writing the author holds ADA, ICX, IOTA and XLM.