Neurotoken (NTK) is the native token to the Neuromation platform. This project seeks to use blockchain token technology to aid in the development of AI and deep learning technologies. Here in this guide, we are going to discuss some of the details about this coin, the platform, and how to purchase the token.
What is NTK?
Neurotoken (NTK) launched its ICO on January 7th, 2018, and is native to the blockchain-based platform called Neuromation. This platform, chaired by CEO Maxim Prasalov and CTO Fedo Svachenko gears itself to use Proof of Work tokenization systems to better and more accurately complete the complex computation of deep learning AI.
Historically AI development and integration is costly, time-consuming, and prone to issues, therefore such technology is beyond the reach of many operations. NTK however seeks to streamline the process into cloud-based operation, coupled with the characteristics of an infrastructural blockchain.
NTK uses the ERC-20 standard model and at the time of writing as a global coin ranking or #1898 according to coinmarketcap. Furthermore at the time of writing NTK has a market cap of $5552,775 and a fully diluted market cap of $700,367.
Step 1: Register on Fiat-to-Crypto Exchange
So to start, you’ll need to purchase another cryptocurrency, that you can then use to trade for NTK. You can use Bitcoin (BTC) or Ethereum. (ETH) But in this lesson, we’ll be using Bitcoin (BTC).
To get some BTC, you’ll need to sign up for a Fiat-to-Crypto Exchange. When it comes to picking a crypto exchange, you have a lot of alternatives, and each one is a little different, so it pays to shop around. But for our example, we will be using CryptoWallet.
CryptoWallet is a secure and easy-to-use app that can be downloaded from the Apple App Store or Google Play Store onto your device. Once downloaded simply follow the onscreen instructions to connect one of your fiat accounts to CryptoWallet. After that, you may deposit funds directly from your bank account into your CryptoWallet account.
Step 2: Buy BTC with Fiat Money
You may now trade your cash for BTC after depositing it to your CryptoWallet account.
To begin, go to the trading page of the CryptoWallet app and search for Bitcoin. Then choose the quantity you want to buy and click “Buy.” To assist you in making the best financial decisions with your money, CryptoWallet provides various price comparison charts, market data information, and trading options.
Following the conclusion of your BTC purchase, there will be a brief confirmation period before the quantity of BTC purchased, as well as any remaining funds, are displayed in your CryptoWallet account.
Step 3: Transfer BTC to an Altcoin Exchange
So now that you’ve obtained some BTC, you’ll need to swap for NTK to proceed. To do so, you’ll need to sign up for an Altcoin Exchange.
Generally speaking, it is always a good idea to shop around for an altcoin exchange that best suits your needs. The first thing you should check is if the exchange supports the BTC/NTK trading pair. In the case of NTK, your options are rather limited. So for this example, we are going to be using YoBit.
Now, you’re going to have to sign up to YoBit and start trading. The registration procedure will be simple, needing some basic information, KYC information, and security measures such as passwords and 2-step verification. (2FA)
After you’ve done these steps, YoBit will notify you that your account is ready to trade. Then, via your CryptoWallet account, send some BTC to your new YoBit account. Go to the YoBit “funds” page and select “deposit funds” from the drop-down menu. YoBit will then supply you with either a wallet address or a QR code. Then go to your CryptoWallet account and select ‘send funds.’ Now, scan/input the YoBit address and enter the amount you wish to send into your CryptoWallet.
Your BTC will appear on your YoBit account after a brief confirmation period, and you may exchange it for NTK. From the YoBit trading menu, select the BTC/NTK trading pair and the amount you want to trade.
You have now purchased some NTK!
Last Step: Store NTK Securely
Once you’ve gotten your hands on some NTK, you’ll probably want to know where you can keep it, and for that, you’ll need a wallet.
For NTK, your options are a little restricted, with MetaMask and TrustWallet being the two most popular.
After you’ve chosen a wallet, you’ll need to transfer your funds from YoBit to your chosen system. Now go to YoBit’s ‘withdraw money ‘option and enter or scan your code into the address box; your NTK will be safely saved in your wallet in a matter of minutes.
Another wallet solution to keep an eye on in the future is the aforementioned CryptoWallet. It’s safe, straightforward, and has road mapped for further coins and token integrations in the future.
Other Useful Tools for Trading NTK
We are not in a position to provide you with trading advice or financial guidance, but we can give you a quick summary of some of the tools available on most exchanges that, when utilized correctly, can help you make the best financial decisions possible.
The On-Balance-Volume (OBV) indicator is a simple tool that shows both positive and negative volume movement, as well as the value direction of an asset’s movement trend.
The Average Directional Index (ADI) is a straightforward indicator that tells traders how strong a trend is. The asset’s movement intensity may assist you in determining how frequently long motions occur.
The Stochastic Oscillator allows traders to see the asset price over time and in relation to a certain condition inside that time period.
Can I buy NTK with cash?
Sadly no, generally speaking, altcoins are not purchasable in a direct fashion with cash or fiat funds. Instead, have a look at our handy guide above to see how you can trade another crypto such as BTC or ETH for some NTK via an altcoin exchange.
Are there any quick ways to buy NTK in Europe?
YoBit, like a host of other altcoin exchange platforms, are quick and easy to use and perfectly legal in the EU. Simply register on an altcoin exchange that best suits your needs and trade an already owned currency such as BTC or ETH. Take a look at the above guide on how to register for such an exchange.
Are there any alternative platforms to buy NTK or Bitcoin with credit cards?
You cannot purchase NTK, or most altcoins, directly via fiat or with credit cards. Essentially you have to go through altcoin exchanges to get your hands on some NTK. Thankfully we have a handy guide on how to do this. Bitcoin, as well as ETH, can be purchased with a credit card, to do this take a look at financial services such as eToro to do so.