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How to buy NuCypher (NU)
Learn how to buy NuCypher (NU) on 5+ crypto exchanges in our step-by-step guide.
You can buy NuCypher (NU) on a cryptocurrency exchange like KuCoin. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. NU is the native token of the NuCypher network, along with being the utility token of the ecosystem. Here's how to buy NuCypher.
How to buy NuCypher 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 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.
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.
You can now exchange your funds for NuCypher. 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 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.
How do I find the best places to buy NuCypher?
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 NuCypher?
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 NuCypher.
- 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 NU 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 NuCypher with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy NU 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 NU 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 NU by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for NU on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy NuCypher?
The easiest way to buy NU 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 NU, 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 NuCypher has been performing recently.
Best NuCypher wallets to store your NU
You can keep your NU 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 NuCypher developments
Is NuCypher a good investment?Cryptocurrencies 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: 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.
Additional information about NuCypher can be found using our NU analysis tools.
Today's NuCypher price versus ATH
Compare today's price of NuCypher ($0.152423 USD) against its all-time-high price of $2.61 USD on 15 October 2021. The closer the bar is to 100%, the closer NU is to reaching its ATH again.
ATH date: October 15, 2021
NuCypher ATH: $2.61
How to trade, convert or sell NuCypherYou can convert or sell 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 convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of NU you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of NuCypher.
- Complete your transaction and move your NU to a wallet for storage.
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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