Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
How to buy Sushi
1. Compare crypto exchanges
The easiest way to buy Sushi 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 – debit card, neteller, paypal and wire transfer payments are widely accepted.
4. Buy Sushi
You can now exchange your funds for Sushi. 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 Sushi to your personal wallet.
Where to buy Sushi in
the UK
Find an exchange to buy, sell and trade SUSHI by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
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Steps on how to buy Sushi
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Sushi.
Compare cryptocurrency exchanges that supports SUSHI. Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
Create an account on an exchange. You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
Deposit funds into your account. Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Sushi.
Buy Sushi. Complete your Sushi purchase and then find the best wallet to store SUSHI.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply.
What to consider when buying Sushi
Below are the aspects you should consider before investing in SUSHI:
KYC-free model: SushiSwap is a completely permissionless protocol, which basically means that anyone can make use of the platform by contributing liquidity to its native fund pools in a private, secure manner. While this may seem highly attractive on paper, a lack of know-your-customer (KYC) protocols can potentially leave one’s funds susceptible to certain third-party intrusions.
Passive income possibilities: Much like a host of other DeFi platforms in existence today, SushiSwap allows users to draw a steady stream of passive income in lieu of them providing funds to the protocol’s native fund pools. Rewards are doled out in the form of Sushi tokens, which can later be exchanged for Ether if one so wishes to do so. In terms of the incentives that are currently on offer, a fixed 0.25% of all transactions facilitated across the platform are provided to liquidity providers while 0.05% of each tx is converted back to SUSHI and given as a reward to token holders.
Governance framework: As pointed out earlier, SUSHI tokens are provided to liquidity providers for their efforts. These tokens can be staked in exchange for SLP tokens, the base currency that is used for the overall governance and administration of the platform.
DeFi risks: In the past, there have been certain rug pull scams as well as cases of hackers draining funds from smart contracts in relation to certain DeFi projects. While SushiSwap has been audited by reputable firms, a total of 10 issues have previously been detected in relation to the platform. These problems do not appear to be critical but they do point to the fact that users have to be cautious and do their own research before supplying their funds to such liquidity protocols.
Recent Sushi developments
December 2021: Chief technical officer Joseph Delong parted ways with SushiSwap amid weeks of tension and disagreements. The SUSHI token reacted positively to this news, jumping 20% in price in the 24 hours following the announcement. December 2021: Key Avalanche (AVAX) developer Daniele Sestagalli launched a set of proposals focused on a SushiSwap handover.
How to sell Sushi
You can cash out your SUSHI with the same exchange you bought it through:
Sign in to the exchange you have SUSHI on. If you store your Sushi in a digital wallet, compare crypto exchanges to sell it on.
Place a sell order. Choose the amount of SUSHI you'd like to sell.
Complete your transaction. Confirm the sell price and fees and close your sale of Sushi.
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.
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