Distx is an exciting new platform allowing users to purchase new tokens before they are available to the wider public. This offers an opportunity for massive gains should a project prove successful. The DISTX token is the key to the Distx platform and a necessity to participate in these exciting token launches.
In this easy step-by-step guide, we will show you exactly how you can buy and store DISTX in no time.
What is DISTX?
Distx is a token sale platform with its own native token of the same name (DISTX). A token sale platform allows crypto users to purchase ICOs (initial coin offerings). An ICO is generally the first time a token becomes available for purchase before it is offered to the wider public. As such, ICOs can be a great way to get into new and exciting projects before their price skyrockets.
Holding the DISTX token is a requirement to participate in Distx token sales. The larger your holdings of DISTX the more you are prioritized and the earlier you will be eligible to purchase new deals. Holders with many DISTX tokens also receive special rewards and privileges. For example, the top 200 DISTX holders automatically receive a share (2% of the ICO value split amongst the 200 holders) of each new token listed regardless of whether they purchase any new tokens or not.
The DISTX token is also deflationary. 1% of all funds raised during a token sale are used to buy back DISTX tokens and burn them (effectively destroying those tokens). Deflationary tokens tend to appreciate in price at a higher pace since the supply dwindles rather than expands.
Step 1: Register on Fiat-to-Crypto Exchange
To begin trading cryptocurrencies like DISTX you will need to register with an onramp to the crypto universe, otherwise known as a fiat-to-crypto exchange. As the name suggests, these exchanges allow you to turn your fiat money (such as dollars) into cryptocurrency. Once you have made this initial entry it will be much easier to trade between almost any cryptocurrency with a lot fewer barriers.
CryptoWallet is an excellent option for a crypto-to-fiat exchange due to its easy and intuitive registration process tailored for beginners
After joining the CryptoWallet platform and completing the easy registration process you are set to begin buying cryptocurrencies.
Step 2: Buy BTC with Fiat Money
CryptoWallet supports hundreds of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). Best of all, CryptoWallet allows you to buy these cryptocurrencies with your credit or debit card. This makes buying crypto as easy as regular online shopping.
We recommend purchasing Bitcoin (BTC) to begin with (you will trade this BTC for DISTX in the next step). This is because BTC is the most widely accepted cryptocurrency which will make it easier for you to find an exchange that allows you to trade it for DISTX.
Once you have purchased BTC with your debit or credit card you are ready to move on to the next step.
Step 3: Transfer BTC to an Altcoin Exchange
Now that you have purchased BTC you are ready to send that BTC to an altcoin exchange and trade it for DISTX. Hotbit is currently the only major altcoin exchange that supports DISTX so it is the one we will be using. The Hotbit team is distributed between Hong Kong, the U.S., and Taiwan and has been in operation since 2018.
You will need to register on Hotbit, although this process should be simple since you are only trading crypto-to-crypto and not involving fiat. Once you’re registered you can find your BTC receive address on Hotbit and copy and paste that address into the ‘Send To’ option on CryptoWallet. It will usually take 15-45 minutes for your BTC to arrive on the new exchange.
Once your BTC has arrived on Hotbit you can search for the BTC/DISTX trading pair and execute your trade.
Step 4: Store DISTX Securely
Now that you have purchased DISTX you are ready to store it. Cryptocurrencies can quickly gain in value so even a small amount should be stored securely to avoid further headaches. There are two primary options to store your crypto: software wallets and hardware wallets.
Another option is MetaMask, a software wallet that runs in your browser and supports ERC-20 (Ethereum) tokens such as DISTX. MetaMask provides easy access and is a good option for small to medium amounts of funds.
For larger amounts, a hardware wallet is generally recommended. Hardware wallets store your keys offline providing the most secure option. The trade-off is that you will have to purchase the hardware wallet itself and that the process of using it can be cumbersome if you need regular access to your crypto.
Should you decide that a hardware wallet is the best option for you, Trezor and Ledger and two solid options which are well-known and support ERC-20 tokens like DISTX.
Other Useful Tools for Trading DISTX
Other useful tools for trading DISTX include price-feed tools like CoinGecko.com. Both of which provide you with a real-time price chart and statistics such as current market cap and trading volume.
Can I buy DISTX with cash?
Unfortunately, you cannot buy niche cryptocurrencies like DISTX directly with cash. However, a cash-like way to purchase DISTX is to use your debit or credit card to purchase BTC on CryptoWallet and then trade that BTC for DISTX on an altcoin exchange.
Are there any quick ways to buy DISTX in Europe?
The quickest way for you to buy DISTX in Europe is to use the CryptoWallet app which will allow you to buy Bitcoin (BTC) directly with your debit or credit card. Once you have completed this purchase you can easily swap your BTC for DISTX on an altcoin exchange.
Are there any alternative platforms to buy DISTX or Bitcoin with credit cards?
While the combination of CryptoWallet and an altcoin exchange that supports DISTX is likely the easiest and best option to purchase BTC with a credit card and then swap that BTC for DISTX, other options may exist. You should do your own research as to which option is best for you and what the potential trade-offs are for your chosen platform.