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How to buy Strike (STRK) in the US
Learn how to buy Strike (STRK) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
Where to buy Strike
It looks like STRK may not be available to purchase on an exchange in the US.
You can still purchase STRK 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 STRK using a decentralized exchange.
- Find STRK on a decentralized exchange and make sure Strike can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for STRK using an exchange like Gemini. You will need to purchase enough ETH to swap for STRK 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 STRK 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 STRK 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 StrikeWhile investing in cryptocurrencies often seems like a lucrative and profitable opportunity, it is important to remember that they are highly volatile and risky assets. Thus, here are the factors you must keep in mind before investing your funds in STRK:
- Supply. The token has a maximum supply of 6.54 million. The initial supply at launch was 3 million. The remaining 3.5 million are now being mined by users through liquidity farming incentives on the platform.
- sTokens. The protocol can mint new tokens that are pegged to an underlying asset. These are referred to as sTokens, for example, sUSDT, which is pegged to Tether (USDT). The purpose of sTokens is to denote the proportional value of the underlying asset deposited within the Strike ecosystem. The underlying asset can be redeemed at any given time. sTokens are fully transferable across Ethereum wallets and applications.
- Yields. To ensure the functioning of Strike is autonomous, there is a yield curve rate mechanism that dictates the supply and borrowing rates. It is based on the supply and demand of tokens listed on the platform.
- Collateral and reserve factors. Each digital asset market has a collateral factor and reserve factor that are initially set by smart contracts and then controlled by a governance process. The collateral factor dictates how much a user can borrow against how many digital assets a user holds as collateral. Similarly, the reserve factor calculates a small percentage fee charged to stay within the protocol. This is held to ensure protocol security and upkeeping.
How to sell Strike
You can cash out your STRK with the same exchange you bought it through:
- Sign in to the exchange you have STRK on.
If you store your Strike in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of STRK you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Strike.
Disclaimer: Cryptocurrencies, including Strike, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of STRK 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 Strike or any other cryptocurrency discussed.
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