How to buy Iron Bank EUR (IBEUR) in the UK

Where to buy Iron Bank EUR in the UK

It looks like IBEUR may not be available to purchase on an exchange in the UK.

You can still purchase IBEUR by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

How to purchase IBEUR using a decentralised exchange.

1. Find IBEUR on a decentralised exchange and make sure Iron Bank EUR can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
2. Buy ETH to trade for IBEUR using an exchange like CoinJar. You will need to purchase enough ETH to swap for IBEUR 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.
3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade ETH for IBEUR on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
5. Wait for the transaction to finalise and the IBEUR tokens will arrive in your wallet.
6. 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 UK.

Best Iron Bank EUR wallets to store your IBEUR

You can keep your IBEUR 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 IBEUR below.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is Iron Bank EUR a good investment?

The ibEURO token takes the idea of stablecoins beyond US dollars. While an innovative idea, there are several risks associated with placing funds into this digital asset. Here are a few points to consider before investing in ibEURO:

• Reliance on data oracles: The ibEURO token maintains its peg thanks to data price oracles. If the data price oracle were to malfunction, the peg between ibEURO and real-world Euros may be lost.
• Young and untested protocol:While yearn.finance is a well-developed decentralised finance protocol, the idea of Fixed Forex was only implemented in late-2021. While it provides users access to synthetic stablecoins outside of the US dollar, the idea has not yet stood a true test of time. The product’s website contains a “Fixed Forex Disclaimer” which states that although the protocol has been audited it is still experiencing ongoing development
• Cryptocurrency backed collateral: Although the token is pegged to the Euro, the collateral backing a loan of ibEURO would still be linked with volatile cryptocurrencies. If cryptocurrency markets were to fall, an ibEURO loan may dip below the collateral factor threshold. Cryptocurrency collateral would start to be sold to cover any losses.

Today's Iron Bank EUR price versus ATH

Compare today's price of Iron Bank EUR ($1.069 USD) against its all-time-high price of $1.77 USD on 24 July 2021. The closer the bar is to 100%, the closer IBEUR is to reaching its ATH again.

How to trade, convert or sell Iron Bank EUR

You can convert or sell your IBEUR with the same exchange you bought it through:

1. Sign in to the exchange you have IBEUR on.
2. If you store your Iron Bank EUR in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of IBEUR you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Iron Bank EUR.
6. Complete your transaction and move your IBEUR to a wallet for storage.

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.