Most crypto enthusiasts are familiar with major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), and others. But there are “newcomers” that deserve some attention. That is the case with XYO, a specialized location data cryptocurrency. Several analysts believe the XYO coin can slowly grow in value. Currently, some exchanges offer swaps from this crypto to major cryptocurrencies like XYO Binance Coin and other similar crypto pairs.
But what exactly is this cryptocurrency? And why do some experts believe it has a bright future? Let’s review some of its most important features. After that, we will describe in detail how to buy it.
A Rising Star In The Crypto-Sphere
Last year, very few crypto enthusiasts heard about XYO. Nowadays, it is one of the most popular digital coins. Such popularity was created by a recent spike in its price. For many traders and investors, it was clear XYO has the potential to slowly move higher. Such interest has prompted a search for information about the said digital coin. Until recently, there was little to no information publicly available.
To begin with, XYO is a coin that runs on the Ethereum platform. The price of the said coin reached an all-time high on September 10, 2021. On that date, it was traded at $0.05962. While the price doesn’t look impressive, the picture changes when we compare it to the all-time low on March 13, 2020. On that date, it was sold at $0.00009607. So, in less than 2 years, it has a price increase of more than 30,000%. This tremendous growth should be reason enough to consider it the best cryptocurrency to invest in 2021.
At this point, you probably are already considering investing in this cryptocurrency. If this is the case, keep reading to learn how and where you can buy it.
How To Buy XYO Coin
First, you have to know that you cannot buy XYO with fiat money. Most exchanges will trade it for BTC or ETH. However, other exchanges may accept other cryptocurrencies. In principle, you should follow these steps:
- Register on a reliable platform that lists this cryptocurrency. Coinbase is a good example of such a platform. This exchange requires completing a KYC process;
- After completing your registration, you can select the cryptocurrency you will use to buy XYO coins;
- The system will give you a quote for your swap. If it is fine, you will be asked to provide the address of the receiving wallet;
- Then, you will be asked to send your payment to the address of a deposit wallet.
That should be all from your side. The exchange will process your transaction and, after confirmation on the blockchain, send your XYO coins to the receiving wallet.
Other reliable exchanges list this cryptocurrency also. The procedure to buy it is more or less the same as described above. However, if you use an instant exchange, you may not need to register and complete a KYC process.
Since the XYO coin is an ERC-20 token, any cryptocurrency compatible with Ethereum will be good to store this coin. Encrypted hardware wallets like Ledger or Trezor are most recommended.