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How to buy Alpaca Finance (ALPACA)

Learn how to buy Alpaca Finance (ALPACA) in our step-by-step guide.

Where to buy Alpaca Finance

It looks like ALPACA may not be available to purchase on an exchange in the US.

You can still purchase ALPACA by using a decentralized exchange (DEX) instead. decentralized exchanges are web applications that run on blockchains like Binance Smart Chain (BSC) and allow users to trade any asset directly with one another.

Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.

How to purchase ALPACA using a decentralized exchange.
  1. Find ALPACA on a decentralized exchange and make sure Alpaca Finance can be traded for BNB which is the native asset of Binance. The most popular DEX on Binance Smart Chain is PancakeSwap.
  2. Buy BNB to trade for ALPACA using an exchange like Crypto.com. You will need to purchase enough BNB to swap for ALPACA as well as BNB to pay for transaction fees (known as gas) on the BSC network, which usually costs less than a dollar.
  3. Transfer the BNB into a a web 3.0 wallet like MetaMask to connect to the DEX.
  4. Trade BNB for ALPACA on PancakeSwap, following the instructions on screen. Make sure to leave enough BNB in your wallet to pay for gas.
  5. Wait for the transaction to finalize and the ALPACA tokens will arrive in your wallet.
  6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.

Best Alpaca Finance wallets to store your ALPACA

You can keep your ALPACA on the exchange you purchased it on, or move it to a personal wallet:

  • Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
  • Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your ALPACA below.
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Ledger Nano X Wallet
★★★★★ 4.6

Price (USD)
$149
Supported assets
5,500+
Go to site

Trezor Model T Wallet
★★★★★ 4

Price (USD)
$219
Supported assets
1,456+
Go to site

SafePal S1 Wallet
★★★★★

Price (USD)
$49.99
Supported assets
30,000+
Go to site

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Is Alpaca Finance a good investment?

ALPACA is the native cryptocurrency of the platform and can be staked by users in order to earn xAlpaca, a governance token designed to help facilitate a variety of voting related actions within the network — i.e. 1 xALPACA token = 1 Vote. Here are a few key aspects of the project worth considering before investing:

  • Fixed supply:One of the key aspects of ALPACA is that it comes with a preset hard cap of 188,000,000 tokens such that no more coins can enter circulation once this number is attained. As a result, the value of ALPACA stands to increase over time as and when the project’s popularity increases and demand for the currency surges.
  • Established team of backers:James Strudwick and Pete Woodard are the two individuals responsible for the creation of Alpaca Finance. According to the official company websitewebsiteJames has been involved with the blockchain industry for nearly half a decade and has previously been associated with prominent mainstream financial firms including BNP Paribas and Capital Markets. On the other hand, Pete is a banking expert who has previously served as the CEO for cryptocurrency lending company Nebeus.
  • Capital efficiency based modelAlpaca Finance seeks to help resolve the issue of capital inefficiency — emanating as a result of poor smart contract execution and design — affecting a number of lending protocols in the market today. As a result, the platform is able to deliver annual percentage yields (APYs) that are much higher than many of its closest rivals including Compound, Celsius, Aave.
  • Popular token offering: Thanks to its incentive driven design, ALPACA tokens have continued to accrue a growing amount of popularity within the financial mainstream, as is best highlighted by the fact that they are available across a number of popular trading platforms including Binance, MEXC Global, PancakeSwap, amongst others.
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Today's Alpaca Finance price versus ATH

Compare today's price of Alpaca Finance ($0.308918 USD) against its all-time high (ATH) price of $8.78 on March 06, 2021. The closer the bar is to 100%, the closer ALPACA is to reaching its ATH again.

Current price: $0.308918
All time high: $8.78
4%
96%

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  1. Data by CoinGecko

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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