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How to buy Orchid Protocol (OXT)
Learn how to buy Orchid Protocol (OXT) on 10+ crypto exchanges in our step-by-step guide.
You can buy Orchid Protocol (OXT) on a cryptocurrency exchange like Kraken. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Essentially, Orchid is considered a blockchain platform providing users with seamless access to a global, decentralized network of VPN service operators. Here's how to buy Orchid Protocol.
How to buy Orchid Protocol 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 Orchid Protocol 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 – bank transfer, cryptocurrency, wire transfer and osko payments are widely accepted.
Buy Orchid Protocol
You can now exchange your funds for Orchid Protocol. 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 Orchid Protocol to your personal wallet.
Where to buy Orchid Protocol
Find an exchange to buy, sell and trade OXT 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 Orchid Protocol?
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 Orchid Protocol?
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 Orchid Protocol.
- 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 OXT 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 Orchid Protocol with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy OXT 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 OXT 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 OXT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for OXT on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Orchid Protocol?
The easiest way to buy OXT 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 OXT, 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 Orchid Protocol has been performing recently.
Best Orchid Protocol wallets to store your OXT
You can keep your OXT 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.
Is Orchid Protocol a good investment?Investing in any cryptocurrency should not be taken lightly due to price volatility. Due diligence on both the platform and tokenomics should always be completed. Here are some things to consider for Orchid:
- Unique Setup: Orchid seeks to play a major privacy-preserving role in Ethereum’s web3 stack. It does so by offering users an incentivized peer-to-peer privacy network — that has been bolstered through a decentralized VPN module — thereby allowing them to gain private access to the world wide web in a highly secure fashion. In terms of payment, users are required to pay Orchid node operators to meet their bandwidth requirements. Similarly, VPN operators using the protocol need to stake OXT tokens in order to sell their bandwidth. Prospective users can view a detailed list of all the available VPN operators using an Ether smart contract.
- Solid backing team. The team behind Orchid boasts of individuals like Dr. Steven Waterhouse, who is the cofounder of Pantera Capital and RPX as well as a board member for prominent cryptocurrency exchange Bitstamp. Other prominent members include Jay Freeman — the man behind Cydia, a market for jailbroken iPhones — and Gustav Simonsson, a digital scientist and ethical hacker who previously worked for the Ethereum Foundation.
- Industry support. Since Orchid Labs’ inception, the team responsible for creating the Orchid protocol has raised money from several mainstream players, including reputable venture capital firms such as Andreessen Horowitz, Sequoia and Polychain Capital. Not only that, the company has also been able to rope in support from numerous high-profile angel investors such as Roger Ver, Naval Ravikant, Gavin Wood and more.
- Limitations. While the idea behind Orchid is quite innovative, some online reviewers report web browsing speeds can drastically dip at specific times, causing a less than ideal browsing experience — especially when streaming high-quality videos or playing multiplayer games online.
Additional information about Orchid Protocol can be found using our OXT analysis tools.
Today's Orchid Protocol price versus ATH
Compare today's price of Orchid Protocol ($0.099244 USD) against its all-time-high price of $1.026 USD on 05 April 2021. The closer the bar is to 100%, the closer OXT is to reaching its ATH again.
ATH date: April 05, 2021
Orchid Protocol ATH: $1.026
How to trade, convert or sell Orchid ProtocolYou can convert or sell your OXT with the same exchange you bought it through:
- Sign in to the exchange you have OXT on.
- If you store your Orchid Protocol 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 OXT you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Orchid Protocol.
- Complete your transaction and move your OXT to a wallet for storage.
Disclaimer: Cryptocurrencies, including Orchid Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of OXT 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 Orchid Protocol or any other cryptocurrency discussed.
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