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How to buy Sperax (SPA)
Learn how to buy Sperax (SPA) in our step-by-step guide.
Sperax (SPA) is in the top 1,000 cryptocurrencies by market cap, valued at $9,689,695.
Sperax is a highly volatile asset capable of major price swings in a single day. Today SPA is trading for $0.00591617, which is slightly down from yesterday's trading price of $0.0059887428. Sperax's seen a decrease of -97% over the past year.
So before you buy Sperax, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can use to buy Sperax.
How to buy Sperax in 4 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 exchangesThe easiest way to buy Sperax 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 accountTo 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 depositOnce verified, you can deposit using the payment method that best suits you – credit card, cryptocurrency, debit card and bank transfer payments are widely accepted.
Buy SperaxYou can now exchange your funds for Sperax. 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 Sperax to your personal wallet.
Where to buy Sperax
Find an exchange to buy, sell and trade SPA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How we keep this Sperax guide up-to-date
- SPA price data is regularly updated through data feeds so you always have the latest information.
- Sperax performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
- Key information on coins and how to buy them is regularly reviewed by our editorial team of James Edwards, Frank Corva and Billy Endres.
- Our coin coverage and exchange information is regularly reviewed by our publishing experts Louise Vinciguerra and Molly Wiltshire-Bridle.
How do I find the best places to buy Sperax?
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 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 Sperax?
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 Sperax.
- 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 SPA 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.
What are the best ways to buy Sperax?
Once you've created an account, you will need to deposit funds to buy SPA with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy SPA:
- 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 SPA by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SPA on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Sperax?
The easiest way to buy SPA 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.
Best Sperax wallets to store your SPA
You can keep your SPA 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 take a look at some of our top hardware wallet picks for self-custody of your SPA below.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Is Sperax a good investment?
Cryptocurrencies are highly speculative assets that come with a range of risks. Those that are considering SPA as an investment should consider the following factors:
- Relationship to USDs: As SPA is relied upon to stabilise the native USDs stablecoin, the value of the two tokens are finely intertwined. As USDs is minted, a proportion of SPA is burned. As USDs is burned, a proportion of SPA is then reminted. As a result of this mechanism, as the demand for USDs increases, the mechanism employed by Sperax will lead to SPA deflation. Conversely, if the demand for USDs decreases, this will lead to SPA inflation.
- Opportunity to earn passive income: The protocol is one of the first to implement a hybrid model of crypto-collateralisation and algorithmic stability mechanisms for its native USDs stablecoin. Thanks to its innovative approach, the protocol is able to offer interest to those simply holding the USDs token - an attractive prospect for investors wishing to hold a non-volatile stablecoin that still offers a return on investment. If the demand for USDs increases, the demand for SPA is likely to increase accordingly.
- Well-known investors: One of the largest and most reputable venture capital funds, Alameda Research (the fund behind FTX, led by Sam Bankman-Fried), is a key investor in the protocol. Alongside Alameda Research, Amber Group, Outlier Ventures, and Steve Aoki have also invested in the project, which serves to showcase the potential behind the team.
- Active community: There is an active community and team engagement within the Sperax network, which is commonly a positive metric. Developers behind the project are keen to create a vibrant connection with investors and users of the protocol.
Today's Sperax price versus ATH
Compare today's price of Sperax ($0.00591617 USD) against its all-time high (ATH) price of $0.239479 on March 23, 2022. The closer the bar is to 100%, the closer SPA is to reaching its ATH again.
How do I trade, convert or sell Sperax?You can convert or sell your SPA with the same exchange you bought it through:
- Sign in to the exchange you have SPA on.
- If you store your Sperax 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 SPA you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Sperax.
- Complete your transaction and move your SPA to a wallet for storage.
Get started with crypto
Crypto exchanges and wallets
Learn how to buy other cryptos
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance 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 cryptocurrencies discussed.
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