How to Buy ETP Coin (Metaverse) | Step-By-Step Guide
For those who are totally new to ETP Coin (Metaverse), it was created as a far related derivation of the blockchain technology but is far more advanced. If you are planning to buy and invest in ETP (Metaverse), you are looking for some action. The price of ETP will further rise in anticipation of exchange launches. Want to buy ETP for long-term profits? Here goes the step-by-step guide on how to buy ETP coin and where to buy ETP coin.
How to Buy ETP Coin (Metaverse) | Step-By-Step Guide
What is Metaverse ETP?
Metaverse is a decentralized open platform of smart properties and digital identities. The platform is based on public blockchain technology. The goal is to establish the “Internet of Value” infrastructure by combining digital assets, digital identities, and oracles to build a web of smart properties.
In more basic terms, Metaverse is a blockchain made in China. Some call it the Chinese version of Ethereum. Just like China has Baidu instead of Google or WeChat instead of Facebook, Metaverse is quickly becoming China’s Ethereum.
The Three Pillars of Metaverse ETP
Avatars (Digital Identity)
Through having your Avatar, you have your digital passport to the virtual world where an Avatar can be managed by a physical person or artificial intelligence. It is allowed to own several digital assets. There is a many to many relationship in Metaverse where digital assets can also be owned by many Avatars.
Digital assets + Digital identities= Internet of Value. In Metaverse digital assets represents any category of asset that is in the digital form. As digital assets can represent anything, this gives power to communities to value whatever they want. We are moving towards an age that cannot only transfer money but also transfer value.
In Metaverse intermediary institutions (Oracles) are invited on-chain. Viewfin believes that intermediaries will still play an important role in the future. As of today, critical thinking and logic are not programmable. We still need the intervention of intermediaries to apply sound judgment and verify our actions. The Metaverse ecosystem will rely on Oracles to ensure that all information shared, stored and provided by the members of the Metaverse community is true and reliable.
Where to buy Metaverse ETP?
At the time of writing, ETP is available on OpenLedger DEX and BTER. If you are new and would like to know how to purchase some ETP coin, it is not that straightforward to just deposit your fiat currencies and buy them on these platforms.
Metaverse ETP now is available for trading on Bitfinex, which can be traded with USD, BTC, and ETH.
Bitfinex is the world’s leading bitcoin exchange. It offers platforms for trading and for providing and receiving financing. It was the first exchange in the world to implement real-time proof-of-reserves via segregated customer wallets and boasts some of the best security features in the industry.
However, you can send bitcoin to the above-mentioned exchange accounts and buy ETP with BTC.
If you are totally new in this, please refer to the following steps to get your first ETP coin.
Step 1: Create a Coinbase Account to Get bitcoin
There are many ways to buy bitcoin. Perhaps the easiest way is through Coinbase. Go to the Coinbase Signup Page and fill in your first name, last name, email and choose a password.
The registration is quite straightforward. Once, you hit “Create Account”, then you just need to verify your identity (eg: pictures of your driver’s license, etc). Once your account is created and verified, you’ll need to add a funding source like a bank account and/or a debit card. Once this is set up, you can buy some bitcoin.
Many people have the wrong impression that they must buy one full (unit) of BTC. In fact, you can buy even a small fraction of BTC (e.g. 0.05).
The reason I encourage my readers to buy BTC from Coinbase because you will get $10 free BTC once you trade your first $100 through Coinbase.
If you are buying bitcoin via credit card, Coinbase will post two small charges on your credit cards. All you need to do is to verify these charges through your credit card’s recent transaction history and confirm them on Coinbase dashboard.
Step 2: Create a Bitfinex Account
Create an account with Bitfinex by going to their registration page.
The registration process in Bitfinex is super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.
Step 3: Transfer BTC to Bitfinex
Go to Bitfinex “Wallets” from on the top right menu.
Here, you’ll see a list of currencies and you need for “Bitcoin.” When you find Bitcoin, click the + icon to open a lightbox in which you will generate a Bitcoin wallet address. Once you’ve done this, copy that long string of letters & number.
Now, go back to Coinbase. Here, you’ll navigate to the Send/Request tab. Now paste the Bitcoin deposit address you got from Bitfinex into the “Destination” box and type in the amount of Bitcoin you want to send. You can opt to either move all of your Bitcoin or some fraction.
Just one click and your funds should be on their way to Bitfinex. It will take a bit of time, perhaps 15 minutes or more, for your BTC transfer to complete.
Step 4: Trade Bitcoin for ETP coin on Bitfinex
To trade your BTC for ETP:
- Check the price of ETP in real time (1-minute), and when you are happy with the price, say 0.000462 (ETP/BTC) as shown in the below figure.
- Click the “Limit” and change to “Market”. This means you are calling the platform to generate the latest bid price.
- Then, key in the number of ETP you want to buy. This example, I key in 2,000 ETP.
- Click “Exchange Buy”.
You just exchanged Bitcoin for ETP. Be aware that there often isn’t much ETP for sale at the very lowest price, so you may need to repeat steps 1-3 a few times until all your Bitcoin is exchanged.
You then can check your wallet again and see the amount of ETP you have just purchased.