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How to buy Spendcoin (SPND) in the US
Learn how to buy Spendcoin (SPND) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy Spendcoin
It looks like SPND may not be available to purchase on an exchange in the US.
You can still purchase SPND 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 SPND using a decentralized exchange.
- Find SPND on a decentralized exchange and make sure Spendcoin can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for SPND using an exchange like Gemini. You will need to purchase enough ETH to swap for SPND 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 SPND 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 SPND 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 SpendcoinIn the rapidly growing digital currency ecosystem, the scope for wallets and applications like what Spend offers is enormous. Thus, investing in the native token could seem like a lucrative opportunity. However, here are the key factors you need to be aware of before adding SPND to your portfolio:
- Spend pay technology: The protocol uses the Spend Authorisation Engine, a proprietary real-time conversion system to enable consumers and merchants to transact in digital currencies and foreign countries converted to fiat at the point of sale, using either the Spend Card or the Spend Wallet. The hassle of the conversion to fiat currencies to make a purchase becomes an effortless process for the consumer and benefits the merchant as well, by adding on as a payment option for sales.
- Wide geographical reach: SPND can be used as a payment currency at over 45 million locations worldwide, thus improving its utility for consumers who are rewarded and benefiting from the ecosystem.
- Utility of the token: In addition to being used as fiat at several points of sale, the token has immense utility within the Spend ecosystem. It can be used for a Spend Card membership, redeemed towards fees with discounts, used as collateral for a loan, and even earn enhanced referral rewards.
- Spend VIP: This is a membership rewards program created for the patrons of Spend Preferred and Spend Black, the 2 levels of Spend Cards offered. Similar to traditional credit card cashback programs, the program offers additional rewards as a percentage of spend at top retailers where the Spend Visa card is used, at a rate of up to 6%.
How to sell Spendcoin
You can cash out your SPND with the same exchange you bought it through:
- Sign in to the exchange you have SPND on.
If you store your Spendcoin in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of SPND you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Spendcoin.
Disclaimer: Cryptocurrencies, including Spendcoin, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SPND 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 Spendcoin or any other cryptocurrency discussed.
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