Baby Satoshi is a one-of-a-kind token that allows investors to reduce their risk profile by acquiring Bitcoin’s steadiness and DeFi’s tremendous returns. It makes the process of claiming awards simply by using an auto-claim mechanism.
Purchasing SATS is simple and uncomplicated, and this article will walk you through the process step by step. It is worth noting that merely having $SATS entitles you to get bitcoin in your wallet regularly.
What is SATS?
SATS, or Baby Satoshi, is the first and only token for Bitcoin reflection whereby it acts as a self-generating mechanism for its holders. It is a fascinating new token on BSC that became tradable for the first time on July 28th, 2021. There are a total of 100,000 available. Unlike other major cryptocurrencies, SATS has been listed on several crypto exchanges, but you cannot purchase it directly with fiat money. However, you may still buy this currency by first purchasing Bitcoin from any fiat-to-crypto exchange and then transferring to an exchange that trades this coin.
Step 1: Register on Fiat-to-Crypto Exchange
You must first purchase one of the major cryptocurrencies, in our example, Bitcoin (BTC). You can use a variety of exchanges, including CryptoWallet, Coinbase, and Binance. These exchanges have different cost policies and features, so choose one that best suits your needs.
Step 2: Buy BTC with Fiat Money
After completing the registration and KYC processes, you will be prompted to provide a payment method. In this section, you can use a credit/debit card or make a bank transfer. You will be able to complete your transaction more quickly if you use a credit or debit card.
When you use CryptoWallet, you get a debit card that allows you to spend your cryptocurrency wherever you choose or withdraw it as cash. Click here to download the app and order your crypto debit card. Then, transfer EUR or GBP to your CryptoWallet account, or use your debit/credit card to make a transaction in any fiat currency.
Even if bank transfers are less expensive but take longer, depending on where you reside, certain nations will enable you to deposit money into your account immediately and at a fair rate.
Step 3: Transfer BTC to an Altcoin Exchange
The following step is to convert your BTC into SATS. Baby Satoshi is now available on PancakeSwap. Unlike other controlled exchanges, conversion processes on PancakeSwap will be slightly different because it is a decentralized exchange (DEX) that does not require you to open an account or go through any KYC process. If you are still hesitant to use a DEX, see if SATS is offered on other traditional centralized exchanges. Otherwise, carefully follow these measures.
Because SATS is a BEP-20 token that runs on Binance Smart Chain, the easiest method to purchase it is to transfer your BTC to Binance or another listed exchange. Then, convert it to BNB and send it to your wallet using Binance Smart Chain before exchanging it for SATS on PancakeSwap.
Last Step: Store SATS Securely
When trading on a DEX, it is important that you store the tokens safely and manage your private key. We recommend taking extra precautions with these keys to prevent loss or unauthorized access to your wallet. Hence, for the next step, you will be required to create a wallet to carry both BNB and SATS.
You can choose to either use a hardware or software wallet. The difference comes in that the hardware wallet is a cold wallet that is completely offline while a software wallet is a hot wallet that is online. Based on this, the hardware wallets are more secure as hackers cannot access them unlike software wallets. For example, Ledger Nano X and Hardware Wallet are hardware wallets while Mycelium, and CryptoWallet are good examples of software wallets. CryptoWallet is insured by regulated custodian BitGo to give assurance to its clients that their funds are safe.
Whether hot or cold, all wallets will vary in safety, price, and kind. It is up to you to select the best suits your needs. You should note that CryptoWallet only supports five cryptocurrencies: BTC, ETH, LTC, XRP, and USDT. However, it does allow users to spend their cryptos in stores and online using its debit card. Notably, this wallet is insured by BitGo, a licensed custodian.
Latest News for SATS
Medium gives a peek into Baby Satoshi and what it is all about. It introduces it as a first-only bitcoin reflection token. It also gives tokenomics and automatic payouts details.
Another Medium article offers a transcript from the BabySatoshi AMA that occurred on 25 August 2021 in the BabySatoshi Telegram. It gave more information of the developments that Baby Satoshi was undertaking.
Where to buy SATS crypto?
Buying Satoshi is similar to purchasing other cryptocurrencies. You’ll have to go via an internet exchange to get it, and not all of them do. You cannot just trade cash for Satoshi because it is ranked very low among all cryptocurrencies. It will most likely be a long time before you can buy Satoshi using your bank account or a primary online payment provider like PayPal.
To begin, sign up for a fiat-to-crypto exchange like Binance, Coinbase, or CryptoWallet. You must fill in your exchange subtleties by heading to the “Register” option in the upper right-hand corner of the site’s page and entering your exchange subtleties.
Then, using fiat money, purchase BTC. When buying cryptocurrency of any type, you must decide how much you want to purchase. You should also select your payment method and the currency you wish to purchase.
Following that, you must transfer the BTC to an altcoin exchange. The exchange should mention SATS as one of the cryptos available. CoinMarketCap will contain a list of exchanges where you can purchase Sat currency, but it may not be complete. If you do some research, you may find alternative altcoin exchanges that you may utilize.
After that, you may deposit the BTC to an exchange that accepts SATS and begin trading. It’s critical to search for the trading symbol to ensure you’re obtaining the correct token. Several other currencies seem highly similar, and if you’re looking for where to purchase a Sat coin on an altcoin market, check for Satoshi with the trading symbol SATS.
How to buy SATS on Coinbase
Coinbase is a crypto trading platform whereby users can buy, sell, and exchange over 100 cryptocurrencies. It is a large company with over 73 million users. The first step is to sign up for a Coinbase account on their website. The next stage is to complete the KYC and validation processes.
The next step is to link your Coinbase account to a payment method. To add a payment method to your Coinbase account, either click the “Add payment method” box at the top of the main screen or click on your profile photo, then settings, then payment methods. Choose the one that best fits your needs.
Here’s the one drawback of buying SATS in USD. Coinbase does not presently support the purchase of Baby Satoshi, so don’t worry. The next step is to buy another cryptocurrency and transfer it to an exchange that allows trading SATS.
The most secure option is to buy Bitcoin using USD on Coinbase, the most generally recognized trading pair.
After you’ve verified the transfer of your cryptocurrency from Coinbase to your exchange’s wallet, you’ll want to begin a trade of that exact coin for Baby Satoshi (SATS). After completing your transaction, you will successfully acquire Baby Satoshi (SATS) using USD via another cryptocurrency exchange.
Are SATS and Bitcoin the same?
No, SATS is a separate cryptocurrency from Bitcoin (BTC). This can be confusing as the smallest unit of Bitcoin is referred to as a satoshi, or one “sat.” When describing the small unit of Bitcoin, satoshis or sats will always be in lower case, whereas the ticker or abbreviation for the Baby Satoshi cryptocurrency described in this article is written as SATS, always in capital letters.