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How to buy Dawn Protocol (DAWN) in the US
Learn how to buy Dawn Protocol (DAWN) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy Dawn Protocol
It looks like DAWN may not be available to purchase on an exchange in the US.
You can still purchase DAWN 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 DAWN using a decentralized exchange.
- Find DAWN on a decentralized exchange and make sure Dawn Protocol can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for DAWN using an exchange like Gemini. You will need to purchase enough ETH to swap for DAWN 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 DAWN 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 DAWN 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 Dawn ProtocolDAWN has been growing strongly over the past couple of years and, in April 2021, was added to the popular FTX exchange, improving token liquidity and spreading the word about the project to a large new audience. Along with a USD pair, token perpetual futures can also be traded on FTX, adding to the depth of the market available.
- New games. Dawn says it has plans to launch 20 new titles on its platforms to inspire new gamers to join the project. The latest support comes for Free Fire, a popular mobile battle royale game, with Dawn hosting its first tournament focused on central South America. If the protocol can continue to expand into new markets and pick out the most popular games, then the DAWN token could continue to rise in value in future.
- Market size. The future of Dawn Protocol is heavily dependent on the ongoing popularity of e-sports and online gaming in general. According to market research company Ovum, the global market for this section of the gaming industry was $733 million in 2017 and could reach as much as $1.9 billion by 2022. If the market does not continue to grow in line with these bullish forecasts, or the number of players declines over time for any reason, this reduced market size could affect the price of DAWN.
- Token interoperability. Dawn Protocol uses the ERC-777 token format. While it comes with some security benefits over ERC-20, it is not as widely used as the ERC-20 format. ERC-777 is focused on allowing more complex functions in trading and swapping tokens between users, but not every project uses this standard. If the market and Ethereum developers in general decide to go in a different direction to ERC-777 in future, Dawn Protocol could become obsolete.
How to sell Dawn Protocol
You can cash out your DAWN with the same exchange you bought it through:
- Sign in to the exchange you have DAWN on.
If you store your Dawn Protocol in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of DAWN you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Dawn Protocol.
Disclaimer: Cryptocurrencies, including Dawn Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DAWN 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 Dawn Protocol or any other cryptocurrency discussed.
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