The usage of Decentralised Finance powered by blockchain for money transfer has had a positive impact on providing individuals all over the world with secure access to funds. Millions of people worldwide rely primarily on a centralised money transfer and banking system. Alternative technologies, such as blockchain, have sought to assist us in transitioning away from the centralised regulated structure of banks.
Blockchain powers DeFi, a technology that allows money to be transferred in a trustless, irreversible, unfiltered, and decentralised manner. Simply put, we do not need to rely on a centralised structure such as a bank or institution to authenticate a financial transaction involving two or more people.
There are numerous DeFi projects in the cryptocurrency space today. Many of these projects have yet to be recognised by top cryptocurrency exchanges, making it difficult to purchase them. eRSDL is one of these DeFi tokens that would necessitate an investor to go above and beyond to acquire.
We’ll walk you through the steps of purchasing UnFederalReserve in the sections below (eRSDL).
What is Unfederal Reserve (eRSDL)?
UnFederalReserve is a blockchain-based financial product software startup that is developing credit for the cash spot market. $eRSDL is a utility token for the UnFederalReserve platform, and it offers B2B lending, cash reporting, and overnight lending/borrowing.
UnFederalReserve is a financial product software development enterprise with a strong background in finance, project management, and information technology. It aims to replace traditional deposit and lending activities with its state of the art DeFi protocols.
The eRSDL platform was built for small to medium-sized banking and non-bank lenders (“Participants”) who want to put excess funds to work and cut capital expenses on a more secure platform than traditional treasury management products.
You can buy UnFederalReserve by following the guide below.
Step 1: Register on Fiat-to-Crypto Exchange
The first step you should take when considering investing in eRSDL is to open an account with any popular exchanges that enable fiat-to-crypto exchange.
The primary way is to buy Bitcoin or Ethereum through a fiat-to-crypto exchange. Before you can do this successfully, you may need to complete their sign-up process and register an account with them to access their trading services.
Quite a number of fiat-to-crypto exchanges require some level of identification to complete their signup process. They involve certain KYC authentication required from the user. Popularly, a Driver’s License, Internationational Passport, or other forms of valid I.D is usually required.
Step 2: Buy BTC with Fiat Money
Once you have successfully signed up and completed the KYC process, the next step is to purchase the coin you need. Before you select the coin to buy (Bitcoin or Ethereum), you must first confirm which of them will be best suited for the exchange where you wish to buy eRSDL from.
The CryptoWallet exchange, for example, is one of the top exchanges that enables instant Bitcoin purchases using debit cards or bank transfers through their website. It replicates the experience of making a typical purchase on an e-commerce website.
Buying Bitcoin or Ethereum on the CryptoWallet exchange involves three simple steps.
- Use a debit card or a bank transfer (such as USD) to deposit fiat money.
- Proceed to confirm the current BTC or ETH trading price so you can determine whether you are comfortable purchasing at the current price.
- Enter the amount you want to spend on the coin and click the “Buy Now” button.
Step 3: Transfer BTC to an Altcoin Exchange
Now that you’ve successfully bought the BTC (or ETH) from the fiat-to-crypto exchange, the next step is to proceed to the altcoin exchange that has eRSDL listed for trading.
There are several major altcoin exchanges to choose from. Gate.io, HotBit, and Huobi Global are some of the most popular altcoin exchanges.
You may be required to register and complete a signup process on the altcoin exchange of your choice and then transfer funds from your fiat-to-crypto exchange to the altcoin exchange of your choice.
To do so, look for the “deposit” button, which is usually located next to “Bitcoin” (or ETH) on every exchange. You will be issued a unique wallet ID after selecting “deposit.” Return to the fiat-to-crypto exchange where you purchased your BTC (or ETH), enter your wallet address into the “Send” field, and click “Send.”
If you acquired BTC (or ETH) using CryptoWallet, pick the currency and the amount you want to transfer; paste the wallet ID you copied from the altcoin exchange, confirm, and wait for your coin to show on the new exchange. For a better understanding, see these step-by-step instructions.
Once you have confirmed receipt of your coins from the fiat-to-crypto exchange, immediately proceed to find the eRSDL trading pair; eRSDL/BTC or eRSDL/ETH (depending on which base currency you bought/received) and make your purchase.
Last Step: Store eRSDL Securely
Purchasing cryptocurrency is only one aspect; selecting the storage method that is best suited to your needs is another critical component.
There are two methods of storing crypto. Cold wallets and hot wallets are the two types of wallets used to store crypto assets, and they both differ in terms of the security they offer and the ease at which you can use them.
The Ledger Nano S and Nano X are two of the most popular cold wallets available today, capable of storing a wide variety of crypto assets. Because they are not accessible through the internet, cold storage, also known as offline wallets/hardware wallets, is the most secure means of keeping bitcoin.
The other way you can store your crypto safely is by using Hot wallets. This storage type is preferred due to its ease of acquisition and transactional ease, as they are readily available online.
Other Useful Tools for Trading eRSDL
Investing in crypto assets necessitates a close examination of market data. Supply, price, tokenomics, and other factors are critical for an investor to make sound decisions.In the rapidly growing cryptocurrency market, CoinMarketCap and Tradingview are the world’s most-referenced price-tracking website for cryptocurrency assets. It helps to make crypto more accessible and efficient throughout the world by providing unbiased, high-quality, and accurate information to participants so they can make educated investment decisions.
Can I buy eRSDL with cash?
No! You cannot. You will need to buy Bitcoin or Ethereum on a reputable exchange that enables fiat-to-crypto trades, then convert them to eRSDL on your preferred altcoin exchange that supports eRSDL trading.
Are there any wuick ways to buy eRSDL in Europe?
Yes! There are. Europeans may create accounts with some European banks, such as Bunq and Revolut, and acquire cryptocurrencies through exchanges like Coinbase.
Are there any alternative platforms to Buy eRSDL or Bitcoin with credit cards?
Yes! There are. Several top crypto exchanges enable you to buy Bitcoin and Ethereum directly with your credit card. An example of an exchange that does this is Changelly. It’s a crypto exchange that lets you buy Bitcoin using a credit card. You might choose to buy eRSDL tokens on your chosen altcoin exchange after you’ve successfully obtained BTC.