It can be difficult to figure out how to purchase cryptocurrencies like GENCAP. This guide will show you exactly how and where you can go to be a proud owner of GENCAP in no time.
What is Gencoin Capital?
Gencoin Capital (GENCAP) is an ERC-20 (Ethereum) token and exciting cryptocurrency project that aims to bring generational wealth to its holders, according to their website. The token is powered by a unique investment treasury and a tokenomic system designed to incentivize holders.
The Gencoin treasury is responsible for buying back and burning a certain percentage of GENCAP tokens each year, making GENCAP a deflationary currency. Currencies are made deflationary in the hopes that this will lead to an increase in price, since the overall supply trends down while demand stays the same or hopefully rises.
If you’re interested in investing in or trading GENCAP, read on to learn how to make it happen.
How to Buy GENCAP
There are several steps involved in buying GENCAP. We will lay them out for you in the most accessible way possible below.
Step 1: Register on Fiat-to-Crypto Exchange
The first thing you need to do before buying GENCAP is to register with a crypto exchange which you will use as your on-ramp from fiat to cryptocurrency. One of the easiest ways to register for an on-ramp like this is to download and use the CryptoWallet app from your phone’s app store. The app is available on both Apple and Android devices.
CryptoWallet guides you through the registration process with an intuitive and easy-to-use interface suitable for both beginners and experienced crypto holders alike. CryptoWallet also provides a crypto debit card which lets you spend your crypto like money anywhere that accepts debit payments.
After you’ve finished registering on CryptoWallet, you are all set to buy BTC and send it to an altcoin exchange to trade for GENCAP. Since you are trading crypto for crypto moving forward, it will be much easier to use alternative exchanges without having to leak private information through some of the stricter registration processes.
Step 2: Buy BTC with fiat money
One of the biggest hurdles to entering the cryptocurrency space is initially converting fiat money to crypto. Once you have any type of crypto it is generally very easy to switch between it and many other cryptocurrencies. However, the initial transfer from fiat money to digital assets is cumbersome, especially if you don’t know what you’re doing.
On CryptoWallet, transferring your fiat into the crypto economy is simple and easy. After registering, you are all set to buy crypto directly with your credit or debit card, the same way you would place an order at Amazon or your favorite online shop.
CryptoWallet focuses on large-cap, quality cryptocurrency names so for now you are only able to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). However, don’t let this dissuade you. As mentioned, swapping between cryptocurrencies is much easier than moving from fiat to crypto. In the next steps, we’ll show you exactly how to swap your BTC for GENCAP.
Step 3: Transfer BTC to an Altcoin Exchange
Now that you have entered the open and permissionless crypto economy you are free to swap between BTC and virtually any cryptocurrency you like, including GENCAP.
GENCAP is currently supported on both Gate.io (an American exchange), and Binance (a popular exchange started in China, but currently based in Malta).
To send your BTC from CryptoWallet to one of these exchanges, you will need to do a quick registration. Since you are not using fiat money you should not have to provide too much sensitive information to these exchanges.
After registering on the altcoin exchange, you will need to find your BTC address given to you by that exchange and copy it. Then you can head back over to the CryptoWallet app and paste that address to send to it.
It may take some time (15-45 minutes) for your BTC to arrive at your new altcoin exchange address. Once the BTC has arrived you are all set to trade your BTC for GENCAP. This is usually just a matter of searching for GENCAP within the exchange and selecting your Bitcoin to trade for it.
Last Step: Store GENCAP Securely
Cryptocurrencies have huge upside potential and can often be worth much more than their current value within a short time period. That is why it’s important to take security seriously even if you’re only storing what seems like a small amount at the time. Keeping your coins on an altcoin exchange (or any exchange for that matter) is not recommended for security reasons.
If you are looking to store your crypto for a long period of time, hardware wallets such as a Ledger or Trezor are excellent choices. A hardware wallet stores your seed (the key to your funds) offline for you so you don’t have to worry about it being hacked. Ledger and Trezor both offer support for ERC-20 tokens, including GENCAP. Hardware wallets can be expensive though, and are inconvenient for people who want to access and use their crypto on a regular basis.
CryptoWallet is the ultimate choice for people who want to use their crypto regularly. The CryptoWallet debit card lets you spend crypto anywhere you can make debit payments.
Unfortunately, CryptoWallet does not support GENCAP at this time so it’s not an option in this case.
Other Useful Tools for Trading GENCAP
There are all sorts of useful tools for trading GENCAP and other cryptocurrencies.
This includes sites like coingecko.com and coinmarketcap.com which provide live price feeds and trackers with all sorts of useful statistics like market cap, total supply of GENCAP trading and more, all in real time.
You can also use a DEX (decentralized exchange) like Uniswap to trade for GENCAP.
In this case, you would need to purchase Ethereum (ETH) on CryptoWallet instead of BTC, since ETH is the primary token used for trading pairs on Uniswap. Decentralized exchanges allow you to plug directly into the crypto ecosystem and trade on-chain, meaning they never take custody of your crypto. Unfortunately, the nascent nature of this technology does often come with higher fees and poorer UX than traditional exchanges, so keep that in mind.
Can I buy GENCAP with cash?
No, you cannot buy GENCAP with cash.
The best way to purchase GENCAP in a cash-like way is to use your debit or credit card to buy BTC on CryptoWallet, and send the BTC to an altcoin exchange to swap for GENCAP.
Are there any quick ways to buy GENCAP in Europe?
The quickest way to purchase GENCAP in Europe is to use CryptoWallet to buy BTC with your debit or credit card, and then use the BTC to swap for GENCAP on an altcoin exchange.
Are there any alternative platforms to buy GENCAP or Bitcoin with credit cards?
Other options may exist, but they are rare. CryptoWallet is the best option to buy Bitcoin with a credit card (and send it to another exchange to trade for GENCAP).
The majority of crypto platforms will require banking information for you to send directly from your bank account which can take time to settle.