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How to buy CoinMetro (XCM) in the US
Learn how to buy CoinMetro (XCM) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy CoinMetro
It looks like XCM may not be available to purchase on an exchange in the US.
You can still purchase XCM by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum 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 XCM using a decentralized exchange.
- Find XCM on a decentralized exchange and make sure CoinMetro can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for XCM using an exchange like Gemini. You will need to purchase enough ETH to swap for XCM as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for XCM on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalize and the XCM tokens will arrive in your wallet.
- 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.
What to consider when buying CoinMetroPrior to making any investment decision, it’s always a good idea to perform due diligence. Here are a few things to consider before buying XCM:
- Competition. While CoinMetro’s goal to be perfect for beginners and professionals is appealing, they are not the first exchange to claim this. They are in direct competition with a lot of other platforms, and, according to the coin aggregator CoinMarketCap, currently rank outside the top 100 exchanges based on 24h volume.
- Active use case. Although the CoinMetro exchange is geared towards beginners, the purchase of the XCM token may not be ideal as a "set and forget" cryptocurrency investment. The token is best used actively, whether for diminishing fees, margin trading, or earning interest via staking.
- Centralisation. One of cryptocurrency’s key goals is financial decentralisation, yet many of the popular exchanges are centralised. CoinMetro is no exception. The XCM token has no bearing on governance and the development of the platform. Investors are unable to influence the direction of CoinMetro, which is common in the decentralised finance space.
How to sell CoinMetro
You can cash out your XCM with the same exchange you bought it through:
- Sign in to the exchange you have XCM on.
If you store your CoinMetro in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of XCM you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of CoinMetro.
Disclaimer: Cryptocurrencies, including CoinMetro, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of XCM 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 CoinMetro or any other cryptocurrency discussed.
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