Punk Vault NFTX (PUNK) is a tradable token that represents CryptoPunk NFTs held in an NFTX vault. It allows investors to trade and speculate on the popular CryptoPunk NFT collection. To help you buy PUNK tokens online, we’ve put together an easy step by step guide.
What is Punk Vault?
Punk Vault (NFTX) is a cryptocurrency token designed to represent Non-Fungible Token (NFT) assets held within an NFTX vault. These PUNK vault tokens are ERC-20 tokens which means they are built to the Ethereum standard. They can be traded with other cryptocurrency tokens creating a liquid market for illiquid NFTs.
Punk Vault represents the popular CryptoPunks, an NFT collection on the Ethereum blockchain. The project was created by Larva Labs in 2017. The NFT collection consists of 10,000 “punks” and many celebrities including Jay-Z, Odell Beckham Jr. and Snoop Dogg own Crypto Punks.
If you want to buy PUNK tokens online, you’ll need to go to a cryptocurrency exchange. This is an online trading platform for digital assets such as cryptocurrencies and NFTs. These services allow you to buy cryptocurrencies using fiat currencies or swap them for other cryptocurrencies.
While some major exchanges, like Coinbase and CryptoWallet, accept credit or debit cards for token purchases, others are entirely crypto-only. You can only swap crypto tokens for other crypto tokens on these exchanges, known as altcoin exchanges. You’ll need to use one of these cryptocurrency exchanges to purchase a token like Punk Vault.
The easiest way to get Punk Vault is to purchase a cryptocurrency such as Bitcoin (BTC), Tether (USDT) or Ethereum (ETH) on a regulated exchange such as CryptoWallet. Then you can trade your tokens for NFTX tokens by transferring them to an altcoin exchange.
We’ve created a simple step-by-step guide to purchasing PUNK tokens using CryptoWallet. Our mobile app makes it even easier to purchase tokens with a debit or credit card. Then, with our crypto card, you can spend your tokens at stores all across the world.
How to Buy Punk Vault
Looking to buy PUNK? Here’s everything you need to know to buy Punk Vault crypto tokens in four easy steps.
Step 1: Register on Fiat-to-Crypto Exchange
To purchase tokens with CryptoWallet, you must first register and setup your cryptocurrency wallet:
- To open a CryptoWallet account, you’ll need to provide proof of identity as well as your personal information.
- You’ll be guided through the process of creating your crypto wallet, which will include receiving a seed phrase. This recovery phrase will be needed if you ever lose access to your account. For security reasons, write this down rather than storing it on an online device.
- Your account will be registered in a couple of moments, and you will be able to begin purchasing and trading cryptocurrencies.
Step 2: Buy USDT with Fiat Money
Now that you’ve registered on CryptoWallet you can add fiat money to your wallet. This can be done easily using a bank card or wire transfer.
Once your wallet has been funded and the transaction has cleared, you can head to our cryptocurrency exchange. Choose the amount of USDT you wish to buy and confirm the price.
After you click the Select button, your USDT tokens will be transferred to your wallet. The transaction may take a couple of minutes to complete and appear in your wallet.
Step 3: Transfer USDT to an Altcoin Exchange
Next step is to trade your USDT tokens for Punk Vault tokens. This can be done on an altcoin exchange like Poloniex. Poloniex is a crypto-only exchange based in the Seychelles.
To trade Tether and Punk Vault on this exchange, you’ll need a wallet that supports both USDT and PUNK. At the moment, CryptoWallet does not handle altcoins like PUNK. You’ll need to use a different wallet to trade PUNK. When trading altcoins, many investors use a handy software wallet like MetaMask or TrustWallet.
After you’ve created your altcoin wallet, you can transfer your USDT tokens from CryptoWallet using your wallet keys. Then on Poloniex choose the USDT/PUNK trading pair from the exchange page.
You will need to connect your wallet or use your keys here. Choose how much USDT you want to swap for PUNK and confirm the transaction. In your wallet, your USDT tokens will be exchanged for PUNK tokens.
PUNK can also be traded with WETH (Wrapped Ether) on SushiSwap, an Ethereum-based Decentralized Exchange. WETH is an ERC-20 version of Ether. You’ll need to buy Ether tokens, trade them for WETH and then trade WETH for PUNK.
Last Step: Store Punk Vault Securely
A very important step is storing your holdings securely. There are several wallets on the market, some of which are frauds or untrustworthy. We’ve looked at some of the more secure wallets available to assist you make your decision.
Let’s look at the definition of a cryptocurrency wallet. A wallet is made up of two keys: a public key for receiving tokens and a private key for sending tokens. Wallets are classified into two types. A software wallet, also known as a “hot” wallet, stores your keys online, whereas a hardware wallet, sometimes known as a “cold” wallet, stores your keys offline.
As your information is held offline in a physical device, cold wallets are less vulnerable to hackers. However, to fully use them, they must be linked to an internet device. For some traders, this may be inconvenient. They are usually far more costly than software wallets. Trezor and Ledger make a variety of wallets to meet your needs and price range if you want the added security of a hardware wallet.
Hot wallets are significantly easier to access and use. Some wallets are self-custody wallets, which give you complete control over your keys. This also means that if you lose access to your keys, your funds will become unavailable. Many prominent exchanges, like Coinbase, Binance and CryptoWallet, offer a custodial wallet in which your keys are kept by the exchange for your convenience.
Hot wallets are more handy, but they are also more vulnerable to hacking.To address this, CryptoWallet assures all funds in your wallet. BitGo, a pioneer in digital asset safety, backs up all of your CryptoWallet holdings. This provides additional protection while retaining the convenience of a software wallet.
You’ll need to utilize an altcoin wallet like TrustWallet or MetaMask to store PUNK tokens in a software wallet. These come in the form of browser extensions and mobile apps. Then you can store the bulk of your crypto holdings in a protected wallet like CryptoWallet to ensure your funds are secure.
CryptoWallet is a great option for a protected cryptocurrency wallet. It allows you to store and trade the top five cryptocurrencies in terms of market capitalization (BTC, ETH, USDT, XRP and LTC). You can use our cryptocurrency card at stores all around the world, and all of your assets will be backed up by BitGo. It is also a licensed and regulated cryptocurrency trading platform.
Other Useful Tools for Trading Punk Vault
CoinMarketCap has data on nearly every cryptocurrency, including information such as coin price history, whitepapers, community sites, price charts, market data, and much more. If you want to research a new coin, CoinMarketCap is a great place to start. On the Markets tab you can even see what exchanges support your chosen token.
CoinMarketCal is a useful tool that keeps you up to date on cryptocurrency market events. You can look at individual token pages or choose which tokens you want to be notified about. It also includes a social component where users may submit news about tokens and discuss forthcoming events.
OpenOcean aggregates prices from a wide range of cryptocurrency exchanges including DEXs. OpenOcean helps you find the best prices with the lowest slippage so you can find the best deals.
Can I buy Punk Vault with cash?
No. There is no direct way to purchase Punk Vault with cash. The easiest way to get Punk Vault tokens is to purchase USDT tokens with cash on an exchange such as CryptoWallet and then trade them for PUNK tokens on an altcoin exchange.
Are there any quick ways to buy Punk Vault in Europe?
In Europe, the easiest way to buy Punk Vault tokens is to use a credit or debit card to purchase USDT tokens from a regulated exchange like CryptoWallet or Coinbase. You can then trade your tokens for Punk Vault coins on an altcoin exchange. The CryptoWallet mobile app makes it even easier to purchase cryptocurrencies on the go.
Are there any alternative platforms to buy Punk Vault or Tether with credit cards?
Although many platforms claim to support credit card purchases of Punk Vault or Tether, it is important to do your own research (DYOR).
Some of these websites are unregulated or are outright scams aiming to steal your funds. Always use a regulated service, like CryptoWallet, when purchasing cryptocurrencies with a credit card online.