How to buy Power Ledger (POWR) in the UK
Learn how to buy Power Ledger (POWR) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
A quick guide for buying Power Ledger
1. Compare crypto exchanges
The easiest way to buy Power Ledger 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.
2. 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.
3. Make a deposit
Once verified, you can deposit £ using the payment method that best suits you – credit card, neteller, sofort and skrill payments are widely accepted.
4. Buy Power Ledger
You can now exchange your funds for Power Ledger. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Power Ledger to your personal wallet.
Where to buy Power Ledger in the UK
Find an exchange to buy, sell and trade POWR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Power Ledger
Power Ledger (POWR) can be purchased on a cryptocurrency exchange. These are specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Here's how to get started.
- Compare cryptocurrency exchanges.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptocurrencies available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK 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 locally. This information can be found by clicking on the exchange name in the table which will take you to its review page.
- Choose an exchange to buy POWR and create an account.
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.
- Verify your identity with the exchange.
An increasing amount of cryptocurrency exchanges will need to verify your identity before you can deposit funds and start trading Power Ledger.
- 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 will 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 POWR with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable two-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
- Deposit funds
Once your account has been created, you will need to deposit funds to buy POWR with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet.
- 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. One advantage though is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase POWR by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for POWR on the spot market to see what cryptocurrencies it can be traded for.
- Buy Power Ledger.
You are now ready to purchase POWR. The easiest way to do this is by using the 'instant buy' feature to purchase it for a set price (if the exchange offers this feature).
Alternatively, you can open a trade in 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 making your purchase, you may want to check the market conditions. To help you decide if now is the right time to buy, you can check the Analysis tab of this page to get an idea of how the price of Power Ledger has been performing recently.
- Storing your POWR.
You can keep your POWR 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.
- We typically consider hardware wallets 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.
What to consider when buying Power Ledger
As with any investment, it is vital you understand the risks and potential upside of the asset before making any financial decision. With regards to POWR, here are a few things you should consider:
- Distribution. POWR has a max supply of 1 billion tokens. They are distributed as follows:
- 600 million to develop the Power Ledger ecosystem. This included 350 million to the POWR token sale; 248.5 million to the Power Ledger Growth Pool, which gifted tokens to early application hosts (such as utility companies) and 1.5 million towards a bounty campaign).
- 250 million tokens reserved for future use if needed (Power Ledger Escrow).
- 150 million tokens allocated under escrow to developers and founders.
- Sustainability. A large element of Power Ledger's vision is sustainable energy usage to combat the environmental issues society is facing. Those wanting to diversify their portfolio into the sustainability sector may want to consider Power Ledger's competitiors, such as sustainability ETFs or cryptocurrencies like Bitgreen.
- Adoption. Power Ledger has partnered with a number of significant businesses and governments, including Japan’s Kansai Electric Power Co (KEPCO) to trial distributed energy systems. It has also unveiled commercial deployments of its energy trading platform in locations ranging from Melbourne to Chicago. Power Ledger’s technology is being trialled in several countries around the world, but whether or not it can achieve widespread adoption remains to be seen.
How to sell Power Ledger
You can cash out your POWR with the same exchange you bought it through:
- Sign in to the exchange you have POWR on.
If you store your Power Ledger in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of POWR you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Power Ledger.
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.
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