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How to buy MVL (MVL) in the US
Learn how to buy MVL (MVL) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy MVL
It looks like MVL may not be available to purchase on an exchange in the US.
You can still purchase MVL 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 MVL using a decentralized exchange.
- Find MVL on a decentralized exchange and make sure MVL can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for MVL using an exchange like Gemini. You will need to purchase enough ETH to swap for MVL 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 MVL 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 MVL 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 MVLWhile Mass Vehicle Ledger is an innovative idea, it's always crucial to assess the platform and the associated token before investing. Here are a number of things you should consider before buying MVL:
- Scalability: MVL aims to re-focus the entire transport sphere in Korea. The company then plans to expand to Asia and ultimately the world. The scope and ambition are quite exciting. However, with such ambitions, scalability concerns are prevalent. A network for the entire transport industry would require a fast, efficient and secure blockchain. While Ethereum is a good starting point, MVL will likely require better infrastructure. MVL plans to develop its own Mainnet, but until then, it is unclear how successful the project will be.
- Investor drop-outs: Hashed, arguably the largest venture capitalist in Seoul, dropped its investment in MVL due to competition from ride-share platform Kakao Mobility. This company already has a huge market share in a number of industries and will also be developing a blockchain-based system for its enterprise.
- Commission: Drivers that use the MVL ride-share system aren’t rewarded with fiat commission per trip. Instead they are given MVL tokens.
- Accessibility: As MVL is a Korea-based blockchain network, MVL tokens must be acquired through Korean exchanges or other less-popular platforms.
How to sell MVL
You can cash out your MVL with the same exchange you bought it through:
- Sign in to the exchange you have MVL on.
If you store your MVL in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of MVL you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of MVL.
Disclaimer: Cryptocurrencies, including MVL, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MVL 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 MVL or any other cryptocurrency discussed.
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