Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
What are the key risks?
1. You could lose all the money you invest
The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets. This is an altcoin and these tend to be even more volatile than Bitcoin.
The cryptoasset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.
2. You should not expect to be protected if something goes wrong
The Financial Services Compensation Scheme (FSCS) doesn't protect this type of investment because it's not a 'specified investment' under the UK regulatory regime – in other words, this type of investment isn't recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker.
The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm or Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
3. You may not be able to sell your investment when you want to
There is no guarantee that investments in cryptoassets can be easily sold at any given time. The ability to sell a cryptoasset depends on various factors, including the supply and demand in the market at that time.
Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your cryptoassets at the time you want.
4. Cryptoasset investments can be complex
Investments in cryptoassets can be complex, making it difficult to understand the risks associated with the investment.
You should do your own research before investing. If something sounds too good to be true, it probably is.
5. Don't put all your eggs in one basket
Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.
A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
If you are interested in learning more about how to protect yourself, visit the FCA's website here.
For further information about cryptoassets, visit the FCA's website here.
Vulcan Forged (PYR) is the 289th largest cryptocurrency by market cap, valued at US$74,712,857.
Vulcan Forged is a highly volatile asset capable of major price swings in a single day. Today PYR is trading for $3.13 USD, which is higher than yesterday's trading price of $3.09 USD. Over the past year, Vulcan Forged's price has seen a decrease of -4%.
So before you buy Vulcan Forged, make sure you understand these unique risks as well as its legal and tax status here in
the UK.
If you're ready to get started, read on for step-by-step instructions on how you can buy Vulcan Forged.
How to buy Vulcan Forged in 4 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 Vulcan Forged 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 GBP using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Vulcan Forged
You can now exchange your funds for Vulcan Forged. 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 Vulcan Forged to your personal wallet.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Where to buy Vulcan Forged in
the UK
Find an exchange to buy, sell and trade PYR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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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How we keep this Vulcan Forged guide up-to-date
PYR price data is regularly updated through data feeds so you always have the latest information.
Vulcan Forged performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
How do I find the best places to buy Vulcan Forged?
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 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 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 Vulcan Forged?
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 Vulcan Forged.
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 PYR 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.
What is the easiest way to buy Vulcan Forged?
The easiest way to buy PYR 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 PYR, 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 all-time high tool to get an idea of how the price of Vulcan Forged has been performing recently.
Best Vulcan Forged wallets to store your PYR
You can keep your PYR 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 PYR below.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Is Vulcan Forged a good investment?
All altcoin investments should be considered for potential upsides and potential downsides. It is, therefore, crucial to evaluate both the token and associated protocol. Here are a few factors to consider before investing in PYR:
Gaming ecosystem: Besides VulcanVerse, which was created by developers behind the Vulcan Forged platform, community members have gone on to launch additional native games. Native games include Block Babies, GeoCats, Vulcan Chess, Forge Arena, and Coddle Pets. The adoption by community members is encouraging to see and the variety of games may attract more users in comparison to other GameFi platforms that focus on one genre of game.
Staking rewards: Users can stake PYR tokens in the native Myforge wallet to earn LAVA rewards. The longer that a user stakes, the more rewards that are generated.
Land staking: Users can also level up pieces of land within the VulcanVerse by staking PYR tokens. If tokens remain staked, VulcanVerse land will retain its associated level. If PYR tokens are removed, a user’s land will revert back to its previous level. As the adoption of the VulcanVerse increases, the demand for PYR could grow accordingly as more users seek to upgrade parcels of digital land.
Scalability: Vulcan Forged and the PYR token run on Ethereum’s layer-2 scaling solution network, Polygon. The use of Polygon’s infrastructure means players can enjoy fast and cheap transactions whether in-game or in the native marketplace. Quick and low-cost transactions are crucial to the wider adoption of a gaming protocol.
Centralised governance: The Vulcan Forged ecosystem is currently run and operated by a private organisation based in Singapore. The entity has not yet made any announcements to suggest that a decentralised autonomous organisation (DAO) could be created in the future to surrender control. The platform will likely remain centralised for the foreseeable future.
Token supply: PYR has a maximum supply of 50 million tokens. 20 million tokens were released via an initial liquidity offering (ILO). A further 10 million will be released gradually over a four-year period to reward pools. A further 14.5 million will act as a reserve and will remain locked for several years. The team behind the project is set to take 2.5 million of the PYR supply, which will be released gradually over 10 years starting in March 2024. This slow-release should ensure that significant selling pressure does not enter the market at any one time.
Competition: GameFi – the combination of decentralised finance (DeFi) and gaming - is one of the hottest sectors in crypto. As a result, there is no shortage of competitors for Vulcan Forged - both old and new. Vulcan Forged will need to compete with projects such as Gala Games, Enjin, Axie Infinity, and MOBOX.
Today's Vulcan Forged price versus ATH
Compare today's price of Vulcan Forged ($3.13 USD) against its all-time-high price of $49.24 USD on 01 December 2021. The closer the bar is to 100%, the closer PYR is to reaching its ATH again.
Vulcan Forged's price: $3.13 ATH date: December 01, 2021
6.36%
Vulcan Forged ATH: $49.24
How to trade, convert or sell Vulcan Forged
You can convert or sell your PYR with the same exchange you bought it through:
Sign in to the exchange you have PYR on.
If you store your Vulcan Forged 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 PYR you'd like to convert or sell.
Confirm the sell price and fees and close your sale of Vulcan Forged.
Complete your transaction and move your PYR 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.
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