How To Buy Gravitoken | Ultimate Guide To Buy GRV
Gravitoken (GRV) is an elastic supply token running on the Binance Smart Chain (BSC). An elastic supply token is a relatively new concept that means the token’s total price increases by about 9.81% every eight hours. This is accomplished by a decentralised liquidity pool that will continue boosting the price until it hits 1,337,000 USD per token.
From the Gravitoken website: “As an Elastic Supply token, GRAVITOKEN uses a negative rebasing to reduce the total supply of tokens in order to increase the value of each token over time. This means the amount of tokens in your wallet will decrease over time, but the value of each token will increase. Imagine you bought 25% of the market cap. Rebasing means your token amount goes down, but the % of the total is the same.”
Want to defy gravity? We’ve put together this quick guide on how to buy GRV.
5 Steps to Buy Gravitoken Instantly!
1Visit our recommended platform to buy Gravitoken by clicking the button below.
2Enter your details in the required fields to create a new account.
3Fund your account using your preferred payment method and confirm your new balance.
4Choose Gravitoken and select a "Instant/Market Order” to buy it instantly.
5Enter the amount you want to buy (you’ll see the equivalent in GRV) and confirm your order!
Our Recommended Platform to Buy Gravitoken
As it currently stands, Gravitoken is available on the Binance Smart Chain’s Pancake Swap and NovaDex. A MetaMask wallet will work best to integrate with PancakeSwap. Both of these platforms are decentralised exchanges that can swap your existing tokens for GRV. If you need to purchase cryptocurrency to transfer over to MetaMask, consider one of the brokers below.
Where to Buy Gravitoken in 2021
In order to purchase Gravitoken, you’ll need to connect your wallet to Pancake Swap.
Connect your wallet of choice (MetaMask, for example) to PancakeSwap
Make sure your wallet has BNB (Binance Coin) in order to make the swap
Once you’re connected to PancakeSwap, click on ‘Trade Now’ and ‘Select Currency.”
At this point, you’ll need to ender the GRV contract address: 0x1337ace33c2b3fc17d85f33dbd0ed73a896148b5
Follow the instructions and prompts to import GRV
Input how much BNB you’d like to swap for GRV
Click ‘confirm’ swap, make sure you can cover any fees, and you’re done!
How to Buy Gravitoken with a Broker
To use PancakeSwap, you’ll need to make sure cryptocurrency is added to your wallet of choice. You can use a broker like eToro to purchase ETH or BNB and then transfer it to an external wallet like MetaMask that’s compatible with PancakeSwap.
1. Register with the Broker
Review brokers available in your area and determine which one to register with. The broker we recommend, eToro, won’t take long to sign up for. You are required to provide details like your name, email address, and password.
2. Verify Your Identity (KYC Process)
Regulatory compliance doesn't just empower the trading platform to guard information and assets, but it additionally allows you to have a protected venture where you don't need to stress over tax issues. All top brokers hold fast to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations for the same reason. To finish setting up your account, make sure to provide a valid ID such as your driver’s license for verification purposes.
3. Deposit Funds with your Preferred Payment Method
Just like other websites, you’ll need to link your preferred method of payment in order to make a purchase. Typically all major credit and debit cards will be accepted when depositing funds onto eToro and other brokers.
4. Open a Position to Long/Short GRV
While eToro doesn’t yet offer the ability to open a long or short position, many brokers and exchanges do. Leveraged trading is inherently risky but may offer greater rewards if you correctly predict future price movements of any given asset.
5. Close Your Position
If you need to close the trade before your mentioned limits are reached, you are allowed to do so. These risk minimisation options are there so that you don't lose all your capital.
How to Buy Gravitoken with an Exchange
You can purchase cryptocurrency on an exchange like Binance or Coinbase. But in order to swap for Gravitoken, you’ll need to access a different kind of exchange known as a DEX. A DEX is a decentralised exchange, meaning you don’t need to create an account because the exchange is executed entirely over the blockchain using automated protocols known as smart contracts.
1. Set up a Gravitoken Wallet
Your MetaMask wallet will serve as your connection to PancakeSwap and store your Gravitoken. If you haven’t signed up for MetaMask, it’s relatively easy. Simply search for the MetaMask browser extension, download and install it. From there, use a broker or exchange to send ETH or BNB to the wallet address associated with your MetaMask wallet.
2. Choose and Join an Exchange that sells GRV
Now your wallet is loaded with crypto to swap for GRV, navigate over to PancakeSwap and select ‘Connect Wallet’ at the top of the page. Once you’ve connected your wallet, the balance of your crypto available to swap should be visible. From there, refer back to the list above and enter the contract address of GRV into the ‘add token’ section.
3. Choose Your Payment Methods to Buy GRV
You’ll be able to swap for GRV for a number of cryptocurrencies available on PancakeSwap, including Ethereum, Binance Coin, Chainlink, Cardano, USD coin, and a few dozen others.
4. Place an Order to Buy GRV
Once you’ve selected which cryptocurrency you’d like to swap, select it from the dropdown menu on PancakeSwap. Enter the amount you’d like to swap in the ‘From’ field. In the ‘to’ field, click the dropdown menu and type in GRV. If you don’t see GRV, enter the following contract address: 0x1337ace33c2b3fc17d85f33dbd0ed73a896148b5.
Next, click the ‘swap’ button and follow the prompts. You’ll have to pay a small fee to the network in order to complete the transaction.
5. Safely Storing Your GRV
After swapping for your GRV, it’ll be stored in your MetaMask wallet. It may be necessary to select ‘add token’ in your MetaMask app and enter the GRV contract address in order to view the tokens in your wallet.
Should you Buy or Trade GRV?
Gravitoken’s recent success and innovative approach to decentralised finance could make it an attractive option for investment. Much of Gravitoken’s rise has been attributed to its skilful marketing campaign over social media.
Part of Gravitoken’s popular appeal is the promise of its price rising by at least 9.81% every eight hours. The technical fundamentals behind this process seem sound and helped GRV’s price soar to impressive heights over several weeks. As every GRV transaction is subject to a 3.37% fee, all those proceeds go towards the ‘The Gravitoken Antimatter’ liquidity pool that keeps GRV’s price protected from the typical volatility of the cryptocurrency markets.
At the same time, these mechanisms could easily be confused or misunderstood by casual investors. Because GRV operates so differently from your average cryptocurrency, it’s unclear how long the project can sustain itself or if it will reach 1,337,000 USD.
What's the Difference Between a Gravitoken Exchange and a Broker?
Because Gravitoken isn’t available on exchanges or brokers, you’ll have to access PancakeSwap in order to swap for GRV. However, you can use an exchange or broker to purchase cryptocurrency that can be swapped for GRV. Make sure to follow the guide above to navigate this process.
Gravitoken: Long Vs Short Term Investment
It’s unclear how long Gravitoken can sustain its current trajectory, or how to price will continue to change after it reaches the planned 1,337,000 USD per token. In the short term, it appears that GRV will continue to make considerable gains in price in a relatively quick fashion. But at the same time, any cryptocurrency that experiences a huge gain in price is likely to experience some kind of retraction. They say what goes up must come down...but will Gravitoken be subject to the law of gravity? Only time will tell.
3 Tips to Buy GRV
Make sure you’re familiar with how decentralised exchanges like PancakeSwap work and how to connect your MetaMask wallet.
Read the whitepaper, check out the website, and browse Gravitoken’s social media presence before buying.
Decentralised finance and liquidity pools can be complex to understand. If you’re not totally sure what you’re investing in, get a solid understanding of the fundamentals before making a serious investment.
Choose the Right Time and Do Your Own Research on GRV
Closely observe the GRV charts and determine whether it’s the right time to make your investment. Remember, it’s not always advisable to buy a coin after it has experienced a huge spike in price. But Gravitoken might be different due to its unique DeFi liquidy pools that work to prop up the price.
Comparing Costs to Buy GRV
Consider that GRV’s price will steadily increase by at least 9.81% every eight hours. It’s unclear whether this unconventional project will continue to grow at this rate. So it might be wise to wait and see whether GRV experiences an unexpected correction following this impressive price action.
Safety and Security when Buying GRV
As your GRV will be stored in MetaMask, it’s crucial to make sure your wallet is secure and protected. Every MetaMask wallet has a seed recovery phrase that must be written down on a piece of paper and placed in a secure area. Don’t store this phrase in a word document or elsewhere on your computer or mobile device. If your devices are ever compromised by hackers or any kind of malicious actor, this seed phrase can be used to access and move your GRV to another wallet. That’s why it’s crucial to write your seed phrase down with a pen and paper and store it in a secure, safe place.
What is the Best Payment Method for Buying GRV?
Any cryptocurrency available to swap on Pancake Swap will be sufficient when trading for GRV.
Other Ways to Buy GRV
As it currently stands, you can only purchase GRV on decentralised exchange PancakeSwap and other DEX’s built on Binance Smart Chain like NovaDex.
Frequently Asked Questions
Elastic supply tokens have a changing circulating supply. The idea is that instead of price volatility, what changes is the token supply through events called rebases.