IGNIS isn’t the easiest crypto to buy on the market, but it’s increasingly popular for a reason. Let’s take a look at what IGNIS is, along with it’s parent project Ardor, before moving on to how and where to buy IGNIS tokens.
What is IGNIS?
IGNIS is a Proof of Stake child chain on the Ardor blockchain network that is extremely scalable due to the automated “pruning” of irrelevant data. By supporting all of Ardor’s smart contract types, it expands the capabilities of all current Ardor child chains.
The principal developers founded IGNIS after raising $15 million in an ICO in late 2017 for Nxt and Ardor development.
IGNIS, like several other blockchains that are less well-known in the cryptocurrency industry, has yet to be listed on a major cryptocurrency exchange. As a result, individuals seeking to invest in IGNIS frequently face difficulties.
We’ve gone over the simple steps you can take to invest in or acquire IGNIS.
Step 1: Register on Fiat-to-Crypto Exchange
Due to the vastness of the crypto market and the fact that IGNIS is not listed on any major exchange, the vast majority of exchanges where you can buy IGNIS do not accept Fiat-to-Crypto transfers. The simplest way to obtain IGNIS tokens is to exchange them for USDT or Bitcoin on an altcoin exchange.To purchase USDT or Bitcoin, use a popular fiat-to-crypto exchange. To use their trading services, simply complete their sign-up process and open an account with them.
Step 2: Buy BTC with Fiat Money
After successfully signing up for a platform that facilitates Fiat-to-Crypto exchanges, the next step is to obtain some USDT or Bitcoin.
The best coin to purchase on a fiat-to-crypto exchange is the one that will be the most cost-effective and necessary to convert on the exchange where you want to purchase IGNIS.
The CryptoWallet exchange is a popular fiat-to-crypto exchange. The exchange’s website allows users to make quick crypto purchases using debit cards or bank transfers. It mimics the experience of ordering products online and paying with a credit card or a bank transfer.
By depositing fiat on the CryptoWallet exchange, one can easily purchase USDT or Bitcoin. Choose the coin you want to buy, look for the currency pair and the chart to confirm the coin’s current price, enter the amount of fiat you want to exchange, and complete the transaction.
Step 3: Transfer BTC to an Altcoin Exchange
Bittrex and Probit Global are two popular altcoin exchanges for trading IGNIS. We encourage you to conduct your own research and select an altcoin exchange with which you are familiar. A few of these altcoin exchanges also require you to sign up. Even if they aren’t as stringent as fiat-to-crypto exchanges, you’d be required to provide some information.
Following the acquisition of your cryptocurrency on a fiat-to-crypto exchange and completion of the registration process on your preferred altcoin exchange, the next step is to transfer your cryptocurrency from your fiat-to-crypto exchange to your preferred altcoin exchange.
On most trading platforms, a visible “deposit” button will most likely be present next to “Bitcoin.” When you click the “deposit” button on the altcoin exchange, you will be given a unique wallet ID. Return to the cryptocurrency exchange where you bought your BTC (or ETH), enter your wallet address, and press the “Send” button.
These are the steps to be taken. Suppose you bought your cryptocurrency through CryptoWallet. To begin, select the coin you want to send (USDT or BTC). Second, enter the amount to be transferred to the altcoin exchange. Finally, paste the wallet ID you copied from the cryptocurrency exchange and confirm the transaction. Within a short period of time, your currency will appear on the new exchange. Here’s a step-by-step guide to getting you started.
Once you’ve successfully received the coin into your altcoin exchange, go to the currency pair, IGNIS/USDT or IGNIS/BTC, enter the amount you want to exchange, and click “Swap/Buy/Trade,” whichever option allows you to quickly exchange the coin for IGNIS token.
Last Step: Store IGNIS Securely
Buying a crypto asset is one step; storing the crypto assets after you have successfully purchased them is another important step.
The major way you can store your crypto assets is to either leave your assets on a trusted cryptocurrency exchange (custodial wallet) or a decentralised wallet (Non-custodial wallet), both of which can be regarded as hot wallets. Alternatively, you can choose to store your crypto assets offline in a cold wallet.
To keep crypto-assets safe, a person may choose from the two categories of wallets used to hold crypto assets, cold wallets and hot wallets, to keep his/her crypto assets. This decision may be influenced by the difference in both types of wallets regarding how easy they are to use and how secure they are.
Because it is not accessible through the internet, cold storage (also known as offline wallets) is one of the most secure means of holding cryptocurrency. On the other hand, hot wallets stand out owing to their simplicity of use and accessibility. Money is protected by an authorised and well-known third-party security firm employed by the most prominent cryptocurrency exchanges.
The Ledger Nano S and Nano X are the two most famous hardware wallets on the market today, supporting a wide range of crypto assets. An example of a hot wallet is Bitgo, an industry-leading digital asset custodian used by major cryptocurrency exchanges such as CryptoWallet.
Purchasing a crypto asset is the first step; storing the crypto assets after you have successfully purchased them is the second and most important step.
Types of Storage
The most common way to store your crypto assets is to leave them on a trusted cryptocurrency exchange (custodial wallet) or in a decentralised wallet (non-custodial wallet), both of which are considered hot wallets. You can also choose to keep your crypto assets offline in a cold wallet.
To keep crypto-assets safe, a person can choose between the two types of wallets used to hold crypto assets, cold wallets and hot wallets. This decision may be influenced by the differences in both types of wallets in terms of ease of use and security.
Cold storage (also known as offline wallets) is one of the most secure methods of storing cryptocurrency because it is not accessible via the internet. Hot wallets, on the other hand, stand out due to their ease of use and accessibility. Money is safeguarded by a reputable and well-known third-party security firm that is used by the most prominent cryptocurrency exchanges.
The two most well-known hardware wallets on the market today — Ledger Nano S and Nano X, support a wide range of crypto assets. Bitgo, an industry-leading digital asset custodian used by major cryptocurrency exchanges such as CryptoWallet, is an example of a hot wallet.
Other Useful Tools for Trading IGNIS
Keeping up with the latest news in the cryptocurrency world can help you make the best trading decisions, particularly when trading tokens like IGNIS.
Cointelegraph is a well-known independent digital media outlet that specialises in reporting on blockchain technology, cryptocurrencies, and emerging fintech trends. It covers the latest news in the blockchain and cryptocurrency space, assisting sector participants in making sound investment decisions.
Can I buy IGNIS with cash?
No, you can’t. You must purchase USDT or Bitcoin on a reputable exchange that enables fiat-to-crypto transfers, then convert them to IGNIS on any altcoin exchange.
Are there any quick ways to buy IGNIS in Europe?
Yes! 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 IGNIS or Bitcoin with credit cards?
Yes! Changelly, for example, is a site that allows you to buy Bitcoin using a credit card. You might choose to buy IGNIS tokens on your chosen altcoin exchange after successfully acquiring BTC.