How to buy Sperax (SPA) in the UK

Where to buy Sperax in the UK

Unfortunately, at this time no major exchanges in the UK offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.

Consider buying a different cryptocurrency after comparing popular exchanges.

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.

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

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 ($0.00742065 USD) against its all-time-high price of $0.239479 USD on 23 March 2022. The closer the bar is to 100%, the closer SPA is to reaching its ATH again.

How to trade, convert or sell Sperax

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

1. Sign in to the exchange you have SPA on.
2. If you store your Sperax 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 SPA you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Sperax.
6. Complete your transaction and move your SPA 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.