Buying altcoins like Cropperfinance can be confusing with a wide range of exchanges providing different services. We’ve put together an easy step by step guide to buy Cropperfinance tokens online!
What is CRP?
CropperFinance is a yield farming platform built on the Solana blockchain. It facilitates permissionless yield farming and the trading of SPL tokens (tokens built to the Solana standard similar to the ERC-20 tokens of Ethereum). Cropper describes itself as the “Ultimate Yield Farming Protocol”.
CropperFinance is an important part of the Decentralized Finance available on Solana. Although Ethereum has been a leader in the DeFi industry, Solana is experiencing a massive growth in users and DeFi services. This is due to the scalability of Solana and the lower fees and environmental impact caused by Solana’s Proof-of-Stake consensus mechanism.
With CropperFinance you can stake SPL tokens and receive interest or yields on the staked tokens. The native token, CRP, can be staked in permissionless liquidity pools on the CropperFinance platform and users will receive CRP tokens as rewards for providing liquidity.
How to Buy CRP
While you can easily buy well-established tokens like Bitcoin and Ether with fiat money using mainstream crypto exchanges like Coinbase or CryptoWallet, buying an altcoin like CRP is a little more complex.
CRP is not supported on many of the centralized exchanges where you can buy crypto using a credit or debit card. You’ll have to purchase Cropper Finance tokens using another cryptocurrency on a smaller altcoin exchange that only trades in cryptocurrencies.
The easiest option is to buy BTC using fiat on a cryptocurrency exchange like CryptoWallet and then use that BTC to purchase CRP tokens on an altcoin exchange like Raydium or Gate.io. You’ll also need to set up your crypto wallet which will be used to store your tokens.
This may seem difficult but we’ve got you covered with our simple guide on buying CRP tokens!
Step 1: Register on Fiat-to-Crypto Exchange
The first step is to get set-up on a Fiat-to-Crypto exchange like CryptoWallet. With CryptoWallet you can purchase any of the 5 largest cryptocurrencies by market capitalization (BTC, ETH, XRP, LTC, USDT) using your credit or debit card. We’ve made it even easier with our mobile application which lets you buy and trade cryptocurrencies wherever you are!
To get started:
- Click New Account at the top of the CryptoWallet webpage to start setting up your account – you’ll need to provide verification of your identity for this.
- Once registered you will be taken through the steps to set up your crypto wallet and a secure phrase to help you recover access to your wallet and funds if you ever need it.
- When the verification process is finalized you’ll be ready to buy BTC right away!
Step 2: Buy BTC with fiat money
Using either the mobile application or desktop site you can now transfer or deposit fiat money to your new crypto wallet. This can be done using a credit or debit card in just a few minutes.
Once your funds are added to your wallet you can trade fiat money for BTC tokens by heading to the cryptocurrency exchange. Choose the amount of BTC you want to purchase and confirm the price that you will pay.
Click select and your BTC tokens will be added to your wallet!
Step 3: Transfer BTC to an Altcoin Exchange
At this point you will now have BTC tokens which can be traded for CRP tokens. For this you’ll have to head to an altcoin exchange that supports BTC and CRP like Gate.io.
Most likely you’ll need to set up a wallet on these exchanges or use a separate wallet that supports both tokens. Different exchanges will provide a different CRP token price, so it’s important to shop around.
You can use your Crypto Wallet wallet to transfer your BTC tokens to the altcoin exchange wallet where they can be traded for CRP tokens. Some altcoin exchanges that accept CRP tokens include Raydium (a DEX built on Solana), Gate.io, HotBit, MEXC.
Last Step: Store CRP Securely
It’s essential to keep your tokens in a secure wallet that stops anybody else from getting access to it. As many altcoins aren’t supported by most popular exchanges, there have been faulty wallets set up to try and scam the holder into giving their private key. We’ve looked at a number of the options for storing your MIR tokens safely and securely.
Crypto wallets may be either a hardware or a software wallet. A wallet may be thought of as the keys you need to access and use your tokens. A hardware or “cold” wallet will store your keys and information offline which makes it one of the safest ways to keep crypto tokens.
However, cold wallets lack convenience as they have to be linked to a device if you want to access and use your tokens. Ledger creates secure and well-known hardware wallets that accept CRP tokens.
Software or “hot” wallets are used to keep your information and funds online. As they are constantly online they may offer less security but are much more convenient to use than cold wallets. Many exchanges have dealt with this issue by having all funds stored in their wallets back up. Any funds held in your CryptoWallet wallet are secured by BitGo, a frontrunner in crypto custodial protection. This means in the unlikely event of a hack your funds will be restored.
Many people opt to store much of their crypto holdings in well-established cryptocurrencies with the use of a protected wallet. They often use a secondary wallet to keep and exchange altcoins. CryptoWallet supports the five main cryptocurrencies by market cap and all of your assets will be covered by BitGo. This means you can store your finances securely until you want to trade in smaller altcoins.
CryptoWallet also lets you use our mobile app to move funds on the go and our crypto card lets you spend BTC in stores worldwide.
Other useful tools for trading CRP
CRP tokens can be swapped with other SPL tokens on the CropperFinance app.
You can also trade CRP tokens with other Solana based tokens using a wide range of Decentralized Exchanges and Automated Market Makers in the Solana ecosystem. This includes Serum and Raydium.
Many users will employ a VPN service for added anonymity when trading cryptos or spending tokens online. There’s a wide range of VPNs out there so we encourage you to do your research! VPNs can be a valuable tool in ensuring the safety of your funds online.
Latest News for CRP
Cropper Finance announced in February 2022 that they would be launching Fertilizer, an IDO launchpad. An IDO is an Initial DEX Offering. This would allow tokens to be launched on the CropperFinance app in partnership with CropperFinance. Users of CropperFinance can get involved in the early stages of potentially successful tokens.
Can I buy CRP with cash?
It’s not currently possible to buy CRP tokens using cash or any traditional currencies. CRP can only be purchased using crypto-only exchanges.
The simplest way is to buy BTC with cash using an exchange like CryptoWallet and trade BTC for CRP on an altcoin exchange.
Are there any quick ways to buy CRP in Europe?
The quickest way to buy CRP tokens is by buying BTC tokens using a credit or debit card and trading BTC for CRP tokens. Buying BTC tokens can be done in just a few taps using CryptoWallet’s mobile app. Then you can trade BTC tokens for CRP on an altcoin exchange.
Are there any alternative platforms to buy CRP or Bitcoin with credit cards?
While there are a range of platforms claiming to allow you to buy CRP tokens or BTC using credit cards, many of these are unreliable or even scams! They may take your credit card details or crypto funds. We would always recommend you do thorough research before purchasing any cryptocurrency.
The safest way to buy tokens is using an exchange that is backed up by a crypto custodian. With CryptoWallet, all your tokens are assured by BitGo, an industry leader in digital asset custody.