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How to buy SKALE (SKL) in the US
A beginner's guide to buying and selling SKL in the US.
How to buy SKALE
Look for an exchange that supports both fiat and cryptocurrency to simplify buying SKALE.
- Open an account on an exchange that supports SKL.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- 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 SKALE.
- Buy SKALE.
Complete your SKALE purchase and then find the best wallet to store SKL.
What is SKALE?
SKL is the native token of the SKALE Network. According to its website, SKALE is an Ethereum interoperable elastic blockchain network. Essentially, it’s designed to bring scalability and boost transaction capacity for the Ethereum blockchain. The whitepaper describes it as an “Elastic Sidechain Network”. It aids developers of decentralised applications (dapps) to run smart contracts on the network in sub-second block times at a high throughput of up to 2,000 tps per chain with low transaction costs. The network uses Solidity smart contracts. It was the first project to launch a coin on the Consensys Codefi’s Activate platform. The platform is designed to enable customers to have a single application purchase, manage and use tokens by launching decentralised networks on it. As a decentralised network, the SKALE network intends to decrease latency in transactions and make them as affordable as possible. SKL is the work and usage token of the network. It’s a hybrid-use token that gives the holder the right to work within the network as a validator, stake as a delegator or access resources as a developer for deploying or renting an elastic sidechain/blockchain for a certain amount of time.
SKALE (SKL) is the 127th largest cryptocurrency in the world by market cap, valued at $741,463,696. The current price of SKALE is $0.350633, which is -5.986% lower than yesterday. Prices have ranged between $0.385541 and $0.341113 over the past 24 hours. All prices are listed in US dollars and accurate as of October 18, 2021 02:10 UTC.
Where to buy SKALE
Find an exchange to buy, sell and trade SKL by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Is it a good time to buy SKALE?
The technical analysis gauge for SKALE displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of SKALE based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of SKALE: moving averages, oscillators and pivots. Finder is not responsible for how SKL performs.
SKALE at a glance
|Total SKL supply||4,505,416,335|
|All time high||US$1.22|
|Notable team members||Stan Kladko, Jack O'Holleran|
|Partnerships||Ankr, BisonTrails, Figment, Dokia Capital, Staked, stake fish, Chorus, Tuku|
|Token uses||Staking, platform fees, governance, rewards|
SKALE price performance over time
How to sell SKALE
You can cash out your SKL with the same exchange you bought it through:
- Sign in to the exchange you have SKL on.
If you store your SKALE in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of SKL you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of SKALE.
What to consider when buying SKALEInvesting in cryptocurrencies is often a risky undertaking due to the speculative and volatile nature of the market. It is very important that you understand all the risks involved in investing in a particular cryptocurrency and the various factors that impact its price. Here are some of the aspects you need to consider before adding SKL to your investment portfolio:
- Supply: As per data from CoinMarketCap, at the time of writing, the circulating supply of SKL is 660,416,667 and the maximum supply is 7 billion coins. The network issuance for the first year was 9.3% and will be decreasing gradually till year 7 of its existence.
- Usage: The SKL token is an instrument that serves 4 major functions in the network.
- Staking and security: Holders act as delegators who stake their tokens to validators. These validators run the network by validating blocks, executing smart contracts and managing the security of the network.
- Payment: It is used as a method of payment for chain subscription fees in the SKALE network.
- Rewards: It’s also the reward mechanism for delegators staking tokens and to validators for contributing to the network. Rewards are accumulated monthly and are based on the network fees paid by developers for the usage of the blockchain or sidechains.
- Governance: It also serves as the governance token. It is used for the on-chain voting that controls all the economic aspects of the network.
- Investors: The SKALE network is backed by a prominent group of investors. These investors include Consensys Labs, which is the core development team of Ethereum, as well as Winklevoss Capital, Hashed, HashKey and Multicoin Capital.
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Disclaimer: Cryptocurrencies, including SKALE, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SKL 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 SKALE or any other cryptocurrency discussed.
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