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How to buy sUSD (SUSD)
Learn how to buy sUSD (SUSD) in our step-by-step guide.
You can buy sUSD (SUSD) on a cryptocurrency exchange like KuCoin. These specialized marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. sUSD is a synthetic stablecoin that is built on the Synthetix network. Here's how to buy sUSD.
How to buy sUSD 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 sUSD 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 – cryptocurrency, PayPal, wire transfer and credit or debit card payments are widely accepted.
You can now exchange your funds for sUSD. 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 sUSD to your personal wallet.
Where to buy sUSD
Find an exchange to buy, sell and trade SUSD 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 sUSD?
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 sUSD?
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 sUSD.
- 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 SUSD 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 sUSD with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy SUSD 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 SUSD 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 SUSD by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for SUSD on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy sUSD?
The easiest way to buy SUSD 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 SUSD, 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 sUSD has been performing recently.
Best sUSD wallets to store your SUSD
You can keep your SUSD 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 sUSD a good investment?When deciding on whether to invest in sUSD, there are a few factors to consider that may impact the price:
- Accessibility. Newcomers to cryptocurrency may be dissuaded from investment by the relative difficulty of buying sUSD. You cannot purchase this token using fiat currency and it is not available on most major exchanges. To purchase sUSD, you must first purchase another crypto coin (ETH or SNX). Not only can this be intimidating, it also means extra transactions and, therefore, extra transaction fees.
- Use case. Typically, investors wouldn’t purchase stablecoins like sUSD with a view to its price rising. If the token is performing correctly, its value shouldn’t deviate more than 1 cent from $1 USD. Stablecoins have a number of other appealing features, including as a bridge between traditional finance and crypto, a stable value during periods of high volatility, and staking/liquidity rewards.
- Competition. Stablecoins are continuing to be developed regularly, as the demand for DeFi platforms and associated tokens grows. Though stablecoins often have different purposes, there are still a number of synthetic coins that track the price of USD. Comparing the benefits of sUSD to competitors (like Tether and USDC) will help give you a more rounded perspective on the coin. .
Additional information about sUSD can be found using our SUSD analysis tools.
Today's sUSD price versus ATH
Compare today's price of sUSD ($1.009 USD) against its all-time-high price of $2.45 USD on 18 February 2020. The closer the bar is to 100%, the closer SUSD is to reaching its ATH again.
ATH date: February 18, 2020
sUSD ATH: $2.45
How to trade, convert or sell sUSDYou can convert or sell your SUSD with the same exchange you bought it through:
- Sign in to the exchange you have SUSD on.
- If you store your sUSD 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 SUSD you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of sUSD.
- Complete your transaction and move your SUSD to a wallet for storage.
Disclaimer: Cryptocurrencies, including sUSD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of SUSD 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 sUSD or any other cryptocurrency discussed.
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