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How to buy DeFi Pulse Index (DPI)
Learn how to buy DeFi Pulse Index (DPI) in our step-by-step guide.
You can buy DeFi Pulse Index (DPI) on a cryptocurrency exchange like KuCoin. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. The DeFi Pulse Index is a capitalization-weighted index that has been built atop Set Protocol’s new V2 infrastructure. Here's how to buy DeFi Pulse Index.
How to buy DeFi Pulse Index 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 exchanges
The easiest way to buy DeFi Pulse Index 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 deposit
Once 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 DeFi Pulse Index
You can now exchange your funds for DeFi Pulse Index. 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 DeFi Pulse Index to your personal wallet.
Where to buy DeFi Pulse Index
Find an exchange to buy, sell and trade DPI 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 DeFi Pulse Index?
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 DeFi Pulse Index?
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 DeFi Pulse Index.
- 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 DPI 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 DeFi Pulse Index with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy DPI 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 DPI 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 DPI by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for DPI on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy DeFi Pulse Index?
The easiest way to buy DPI 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 DPI, 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 DeFi Pulse Index has been performing recently.
Best DeFi Pulse Index wallets to store your DPI
You can keep your DPI 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 DeFi Pulse Index developments
Is DeFi Pulse Index a good investment?Below are the aspects you should consider before investing in DPI:
- Novel monetary proposition: When users purchase DPI tokens, they are essentially gaining access to all of the tokens that make up the DeFi Pulse Index without having to own any of the assets individually.
- Directly redeemable: DPI tokens can be liquidated in exchange for one or more of the tokens that make up the index. This means that by using a single token, investors can have a stake in a basket of DeFi currencies, allowing them to spread out their total monetary risk.
- Ideal for beginners: The index looks to make it easier for crypto enthusiasts to make their way into the DeFi space, especially those individuals who may not possess enough expertise or technical know-how regarding crypto tech.
- Quality projects part of the index: The DeFi Pulse index is made up of popular DeFi crypto assets, with new projects ocassionally being added and asset distribution frequently updated. Examples of cryptocurrencies tracked include AAVE, UNI, LRC and REN.
- Solid backing team: The governance aspect of the DeFi Pulse Index is looked after by Concourse, an independent crypto community made up of established digital currency developers, enthusiasts and researchers.
Additional information about DeFi Pulse Index can be found using our DPI analysis tools.
Today's DeFi Pulse Index price versus ATH
Compare today's price of DeFi Pulse Index ($84.66 USD) against its all-time-high price of $656.49 USD on 12 May 2021. The closer the bar is to 100%, the closer DPI is to reaching its ATH again.
ATH date: May 12, 2021
DeFi Pulse Index ATH: $656.49
How to trade, convert or sell DeFi Pulse IndexYou can convert or sell your DPI with the same exchange you bought it through:
- Sign in to the exchange you have DPI on.
- If you store your DeFi Pulse Index 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 DPI you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of DeFi Pulse Index.
- Complete your transaction and move your DPI to a wallet for storage.
Disclaimer: Cryptocurrencies, including DeFi Pulse Index, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DPI 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 DeFi Pulse Index or any other cryptocurrency discussed.
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