As years go by, more cryptocurrencies are being launched on the market, and it is no wonder why. Crypto investors are extremely eager to discover new projects, and the market keeps on evolving.
Among the more recent remarkable crypto projects, GoChain is one that should surely be considered. Founded in 2017, GoChain was developed with the main goal of building a network that provides a solution to the scaling problem. In this article, we will discuss where and how to buy GoChain.
Where to Buy GoChain – Introduction
According to CoinMarketCap, GO is currently available for buying on 4 cryptocurrency exchanges, two of them being Kucoin and Gate.io. Nevertheless, when choosing the crypto exchange where you want to buy GoChain, you should mind the cryptocurrency pairs, as well as other data, such as price and volume.
Furthermore, make sure that the crypto exchange you use is safe and will not affect your digital assets.
What Is GoChain?
GoChain is an Ethereum-based blockchain that works to improve its transaction speed, is green, secure, and allows scalability. GoChain has headquarters in Charlestown, Nevis, and Saint John Figtree.
The main goal of the GoChain network is to provide a more open and decentralized system. It targets a high volume of about 1,300 transactions per second. GoChain also aims to use a smaller fraction of energy than other crypto assets, making it a safer and better option.
GoChain uses the Proof of Reputation (PoR) consensus mechanism, which helps to build trust in the system and helps mitigate risk. This happens because the nodes are to be voted by the most reputable personnel or company. In addition, GoChain has put in place factors that must be considered in the determination process of companies in their network.
Some of the factors include whether they are publicly traded, the brand significance, and even the company’s market cap. This helps promote equality in the system and avoid cheating. GoChain gives higher priorities to companies that need to have public brands. They provide users with authorized signers who create, sign, and make sure the blocks are validated before being distributed to other node networks.
Where to Buy GoChain
GoChain can be bought on 4 exchange platforms, but let’s focus on the two main platforms: KuCoin and Gate.io.
First, KuCoin comes with quite low transaction fees and is a great option to purchase GO. They also offer crypto trading, and you can use your debit or credit cards when making purchases.
Then, we have Gate.io, which provides crypto enthusiasts with a user-friendly interface as it maintains its advanced and robust charts for a wide range of skills level.
KuCoin vs Gate.io
Both KuCoin and Gate.io are great options for buying GoChain. However, it is essential to note that none of them is available in the US, and Gate.io is not available in Canada, too. Furthermore, in what concerns Gate.io, the exchange is also not available in the UK, the Netherlands, France, Germany, and Italy.
Gate.io is well known for its wide range of cryptocurrencies supported (over 1,400). Nevertheless, the crypto exchange may seem a little overwhelming for those who are beginners in the industry. Moreover, users should keep in mind that the platform does not offer the possibility of depositing fiat currency to buy crypto.
KuCoin, on the other hand, offers a more limited number of cryptocurrencies. However, it still has 7,000 coins and tokens available on the platform, thus, users should not worry about being limited. Moreso, the crypto exchange has extremely low fees and offers a 20% discount on trading fees when using its token, KuCoin Token (KCS).
How to Buy GoChain
To have a better view of how to buy GO, here are some steps that you can follow if you choose Gate.io.
Step 1: Create an account on Gate.io.
To conduct any crypto transactions in Gate.io, you will be required to have an account. Creating a Gate.io account is quite straightforward: the user will provide their information, such as their email. Then, you will be required to verify your account.
Afterward, you will be required to complete the KYC (Know Your Customer) procedure.
Step 2: Click on “Buy Crypto” and select the method you want to use from the 3 options available: Credit Card, P2P, and Bank Transfer. For this guide, we will choose the “Credit Card” method.
Step 3: Buy USDT.
Step 4: In the upper right corner, you can click on the search icon and look for “GO”. You will see 2 options: GO_USDT and GO_ETH, and you can choose GO_USDT.
Step 5: Select the amount of GO desired and click on “Buy GO” and confirm the trade.
How and Where to Buy GoChain – Conclusion
Buying crypto can be challenging, especially with the tremendous number of exchange platforms available. However, when buying GoChain, users need to understand the dynamics of crypto operations.
Some exchanges are not available in certain countries. For instance, KuCoin and Gate.io, the top exchanges where you can buy GO, are not available in the US.
In what concerns buying GoChain, Gate.io has proven to be a great option so far as it is user-friendly and does not require crypto investors to go through a complicated buying process. Usually, in order to buy GO, you will be required to first buy USDT and then trade it for GoChain.