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How to buy NuCypher (NU) in the US
Learn how to buy NuCypher (NU) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
How to buy NuCypher
1. Compare crypto exchanges
The easiest way to buy NuCypher 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.
2. 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.
3. 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 all widely accepted.
4. Buy NuCypher
You can now exchange your funds for NuCypher. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your NuCypher to your personal wallet.
Where to buy NuCypher
Find an exchange to buy, sell and trade NU by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy NuCypher
Look for an exchange that supports both fiat and cryptocurrency to simplify buying NuCypher.
- Compare cryptocurrency exchanges that supports NU.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy NuCypher.
- Buy NuCypher.
Complete your NuCypher purchase and then find the best wallet to store NU.
What to consider when buying NuCypherCryptocurrencies are highly volatile and a speculative asset class by nature. Make sure you always understand the various factors impacting the price of a cryptocurrency before investing. If you’re considering investing in NU, consider the following aspects before deciding:
- Inflation: According to CoinMarketCap, at the time of writing (April 2021), there are over 408 million coins in circulation. The maximum supply is capped at nearly 3.89 billion tokens. Be aware of how inflation may affect future value.
- WorkLock: According to the NuCyppher blog, WorkLock is the network’s node set-up mechanism, which will be used to launch the network. It is essentially the smart contract on which the network is based. Over $125 million in Ether was locked in the smart contract through 2,011 nodes on October 5, 2020. Later, on October 17, it launched the mainnet by distributing $45 million worth of NU tokens, which were staked for six months from that date.
- Liquidity: The token model incentivizes long-term investors to stake their tokens. The project discourages speculative trading on the NU token, thus the liquidity of NU as a token is lower than other DeFi protocols with similar use cases.
- Governance: In June 2020, Nu Cypher announced that the governance in the network will be decentralized and the NuCypher DAO, a decentralized autonomous organization (DAO) will govern over the NuCypher Network. This DAO is powered by the Aragon network.
- Umbral: This is the specific threshold proxy re-encryption (PRE) that enables users to share and store private data on public networks securely. NuCypher’s Umbral breaks it up into four steps: grant, encrypt, retrieve and re-encrypt. The process aims to ensure utmost security and transparency for the network and its users.
How to sell NuCypher
You can cash out your NU with the same exchange you bought it through:
- Sign in to the exchange you have NU on.
If you store your NuCypher in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of NU you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of NuCypher.
Disclaimer: Cryptocurrencies, including NuCypher, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of NU 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 NuCypher or any other cryptocurrency discussed.
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