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How to buy Cream (CREAM)
Learn how to buy Cream (CREAM) in our step-by-step guide.
You can buy Cream (CREAM) on a cryptocurrency exchange like KuCoin. These specialized marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Cream Finance is a DeFi protocol built on the Ethereum blockchain. Here's how to buy Cream.
How to buy Cream in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Cream is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency, PayPal, wire transfer and credit or debit card payments are widely accepted.
- Buy Cream You can now exchange your funds for Cream. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Cream to your personal wallet.
Where to buy Cream
Find an exchange to buy, sell and trade CREAM by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Cream?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Cream?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Cream.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing CREAM with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Cream with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy CREAM with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy CREAM on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase CREAM by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for CREAM on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Cream?
The easiest way to buy CREAM is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying CREAM, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Cream has been performing recently.
Best Cream wallets to store your CREAM
You can keep your CREAM 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 learn more about wallets and compare them with our comprehensive guide.
Recent Cream developments
Is Cream a good investment?Consider the following before purchasing CREAM as part of your portfolio:
- Transparency: CREAM was founded by Jeffrey Huang – a serial entrepreneur who also founded Mithril (MITH), a social media platform on Ethereum.
- The core team consists of four people: the founder and three developers with extensive computer science backgrounds. Besides being prominent members in the crypto space, the team has been transparent in its conduct since the beginning, publishing all updates and announcements regularly on Medium, including changes made to its protocol and its liquidity mining distribution. The team is also quite responsive on social media to address people’s queries.
- Security: In February 2021, Cream Finance was exploited in a flash loan attack for roughly $24m, losing about 13,000 ETH to hackers. Following the hack, the price of the native token, CREAM, dropped by about 30% within minutes, leaving users agitated.
- Risk of Liquidation: In order to borrow on Cream Finance, you must first deposit cryptocurrency whose value in USD terms is greater than the amount you're borrowing. The crypto asset deposited acts as collateral, and at present, the user is allowed to borrow only 60% of the USD value of the crypto asset deposited.
- The platform does not require any KYC or credit checks for borrowing and has no time limit on loan payback. However, if the value of the crypto asset placed as collateral falls by more than 60% of the borrowed amount in USD terms, the collateral can be liquidated to other users of the platform.
- Yearn Finance deal: Yearn Finance has teamed up with Cream to launch Cream v2, which would serve as a focused lending product with a list of blue-chip tokens accepted as collateral. However, the token economics and governance of Cream would continue to be the same.
Additional information about Cream can be found using our CREAM analysis tools.
Today's Cream price versus ATH
Compare today's price of Cream ($17.84 USD) against its all-time-high price of $374.1 USD on 04 February 2021. The closer the bar is to 100%, the closer CREAM is to reaching its ATH again.
ATH date: February 04, 2021
Cream ATH: $374.1
How to trade, convert or sell CreamYou can convert or sell your CREAM with the same exchange you bought it through:
- Sign in to the exchange you have CREAM on.
- If you store your Cream in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of CREAM you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Cream.
- Complete your transaction and move your CREAM to a wallet for storage.
Disclaimer: Cryptocurrencies, including Cream, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CREAM 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 Cream or any other cryptocurrency discussed.
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