Looking to earn some passive income on your crypto investments? You may want to take a look at the Earnable protocol and its native EARN token which distributes 13% of all transactions to holders in exchange for simply holding the EARN token.
In this easy step-by-step guide, we will show you exactly how you can buy and store EARN in no time.
What is EARN?
EARN is a BEP-20 (Binance Smart Chain) token that rewards users with passive income just for owning it. Every EARN transaction is subject to a 13% tax which is redistributed amongst holders in proportion to the amount of EARN they hold.
Thus, EARN provides holders with passive income without necessitating any extra investments. Users also have the option of choosing from among 13 major cryptocurrencies to receive their rewards including EARN, BNB, ETH, ADA, SAFEMOON, MATIC, DOT, and DOGE among others. Best of all there is no minimum amount required for EARN holders to receive rewards and rewards never expire.
If this sounds interesting to you, read on to learn the easiest and best ways for you to buy and store EARN in this step-by-step guide.
How to Buy EARN
Unlike other popular cryptocurrencies, it isn’t currently possible to buy EARN crypto directly with fiat money. However, you can still easily buy EARN by first buying another crypto like BTC from any fiat-to-crypto exchanges and then sending it to the exchange that supports the trading of EARN. In this section, we will walk you through in detail the steps to buy EARN.
Step 1: Register on Fiat-to-Crypto Exchange
To enter the world of crypto you will need to find an intermediary exchange that allows you to trade your fiat money (such as dollars) for cryptocurrencies. Once you have entered the crypto world (by purchasing a cryptocurrency with fiat) it will be much easier for you to freely move and swap between cryptocurrencies including into EARN.
We recommend using CryptoWallet as your fiat-to-crypto exchange. CryptoWallet is fully regulated and has an easy-to-use application with a guided registration process available on both Apple and Android devices. Further, CryptoWallet has added security protection by BitGo, a leader in the digital asset protection space, and a host of unique features including a crypto debit card that allows you to spend your crypto anywhere you can use a debit card.
After downloading CryptoWallet and completing the guided registration process you are ready to move on to step 2 below.
Step 2: Buy BTC with Fiat Money
Now that you have registered on a fiat-to-crypto exchange it is time to make the transition from fiat money into cryptocurrencies. CryptoWallet makes it easy to purchase cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT) using just a debit or credit card. Although EARN is not supported, it will be very easy to transfer from one of the mentioned currencies above into EARN, which we will cover how to do in step 3.
Bitcoin (BTC) is generally the best option when looking for a cryptocurrency to trade with since it is the most widely accepted. This will make it much easier to find a suitable altcoin exchange where you can trade your BTC for EARN.
Once you have purchased BTC on CryptoWallet you are ready for the next step.
Step 3: Transfer BTC to an Altcoin Exchange
Usually, you would be able to trade your BTC directly for your desired cryptocurrency. However, since EARN is a relatively small and niche cryptocurrency, it will require one additional transaction which will also be included under this step.
The first thing you will need to do is sign up for an account on the altcoin exchange Binance. Since you will be swapping crypto-for-crypto you will not need to complete an extensive registration process on Binance, so the sign-up should not take very much time.
Once signed up on Binance you can transfer your BTC from CryptoWallet to Binance and swap it for BNB (the native cryptocurrency of the Binance Smart Chain). To do this, find your Binance BTC receive address, then paste it into the ‘Send To’ field on the CryptoWallet app. Once the BTC has arrived you can search for the BTC/BNB trading pair and execute your trade.
Now that you have BNB you can transfer it for EARN using a Binance Smart Chain (BSC) decentralized exchange (DEX) such as Pancakeswap. First, you will need to move your BNB to a wallet supported by Pancakeswap. We recommend MetaMask since it is well known and easy to use. After downloading MetaMask you can send your BNB from Binance to your BSC wallet on MetaMask.
Now for the last part of this step, connect your MetaMask wallet with BNB to Pancakeswap, search for the BNB/EARN trading pair and execute this trade.
Congratulations, once the trade has been completed you will be the proud owner of EARN in your MetaMask wallet.
Last Step: Store EARN securely
The last step is for you to find a secure option to store your EARN. There are generally two major options for storing cryptocurrencies like EARN: software (hot) wallets and hardware (cold) wallets.
CryptoWallet is an excellent option for a software wallet that supports large-cap cryptocurrencies. This is due to the extra security provided by BitGo, as well as its unique feature set including a crypto debit card that allows you to spend your crypto anywhere that accepts debit payments. Unfortunately, since CryptoWallet does not support EARN it is not an option here.
You also have the option of storing EARN in your MetaMask wallet where it is currently stored. For smaller amounts, or if you require regular access this is not a bad option. However, it is important to consider that MetaMask stores your keys within your browser and is therefore not the most secure option for large amounts of funds. In this case, we recommend using a hardware wallet such as a Ledger or a Trezor, which will provide the added security of storing your keys offline. Just make sure the hardware wallet you choose supports BSC tokens such as EARN.
Other useful tools for trading EARN
Other useful tools for trading EARN include price-feed tools like CoinGecko.com and CoinMarketCap.com which provide you with a real-time price chart and statistics such as current market cap and trading volume. In addition to this, CoinGecko and CoinMarketCap will provide you with a list of exchanges currently trading EARN as well as the trading pairs they support (for example BTC to EARN or USDT to EARN, etc).
Can I buy EARN with cash?
Unfortunately, you cannot buy niche cryptocurrencies like EARN directly with cash. However, a cash-like way to purchase EARN is to use your debit or credit card to purchase BTC on CryptoWallet and then trade that BTC for BNB on Binance. Once you have done this you can use a wallet that supports PancakeSwap to trade BNB for EARN.
Are there any quick ways to buy EARN in Europe?
The quickest way for you to buy EARN 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 BNB on Binance and use a wallet that supports PancakeSwap to trade BNB for EARN.
Are there any alternative platforms to buy EARN or Bitcoin with credit cards?
While the combination of CryptoWallet, Binance, and PancakeSwap is likely the easiest and best option, 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.