Nowadays many investors are looking to make a positive impact on the world, in addition to making a profit with their investments. Space Soldier (SOLDIER) is an example of a cryptocurrency with a positive mission that involves donating a percentage of profits to support army veterans in need.
If you’re interested in SOLDIER, this easy step-by-step guide will show you exactly how you can buy and store SOLDIER in no time.
What is SOLDIER?
Space Soldier (SOLDIER) is a token aimed at army veterans and army veteran supporters. It is a BEP-20 (Binance Smart Chain) standard token running on the BSC network.
One unique feature of SOLDIER is its deflationary tokenomics. This means that the total supply of SOLDIER tokens available will decrease over time as tokens are burned. In economic terms, this means that there could potentially be more demand for the token than the available supply, which has the chance to push the price much higher. In addition to being burnt, a percentage of the total supply will be redistributed to the SOLDIER charity wallet, where they will be donated to support army veterans in need in the United States and Canada.
Read on to learn more about the easiest ways for you to purchase SOLDIER.
How to Buy SOLDIER
Unlike other popular cryptocurrencies, it isn’t currently possible to buy SOLDIER crypto directly with fiat money. However, you can still easily buy SOLDIER by first buying another crypto like BTC from any fiat-to-crypto exchanges and then sending it to the exchange that supports the trading of SOLDIER. In this section, we will walk you through in detail the steps to buy SOLDIER.
Step 1: Register on Fiat-to-Crypto Exchange
Before you begin buying cryptocurrencies like SOLDIER you will need to register on a fiat-to-crypto exchange that allows you to trade your fiat money (such as dollars) for crypto. Once you have purchased a cryptocurrency of your choice on this type of exchange it will be much easier to move throughout the crypto ecosystem without permission and trade for cryptocurrencies like SOLDIER.
We recommend using CryptoWallet as your fiat-to-crypto exchange. The CryptoWallet app is easy to use and available for download on both Apple and Android devices. CryptoWallet also provides a guided registration process and offers a wide array of unique features including protection by BitGo, an industry-leading custodian, and a crypto debit card that allows you to spend your crypto like regular money anywhere you can make debit payments.
After downloading the CryptoWallet app and completing registration you are ready to move on to the next step below.
Step 2: Buy BTC with Fiat Money
After completing registration on CryptoWallet it is time for you to buy your first cryptocurrency. CryptoWallet offers five of the largest and most well-known cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT). Best of all CryptoWallet allows you to buy any of these cryptocurrencies using your debit or credit card for a fast and easy process.
After purchasing one of these large-cap cryptos with your debit or credit card you will be able to trade this crypto for SOLDIER in the next step.
For now, we recommend purchasing BTC, to begin with, since it is the most widely accepted cryptocurrency which will make the process of finding an altcoin exchange to trade for SOLDIER in the next step that much easier.
Now that you have your BTC you are ready to learn how to trade it for SOLDIER in the next step.
Step 3: Transfer BTC to an Altcoin Exchange
To trade your BTC for SOLDIER, you will need to send your BTC to an altcoin exchange that supports both cryptocurrencies. The easiest way to find an appropriate exchange for this purpose is to use a tool like CoinGecko.com or CoinMarketCap.com and search for the SOLDIER ticker. Both services will provide you with a list of exchanges currently trading SOLDIER as well as the trading pairs they support (for example BTC to SOLDIER or USDT to SOLDIER, etc). You will also be able to check exchange rates to see which altcoin exchange will provide you with the best deal on your trade at that time.
After completing sign-up on your chosen altcoin exchange you can navigate to your wallet within that exchange and find your BTC receive address. Copy this address and head back to the CryptoWallet app where you can then paste it into the ‘Send To’ section to transfer your BTC to the new altcoin exchange.
It may take 15-45 minutes for your BTC to arrive on the altcoin exchange. Once it has arrived you can search for the BTC/SOLDIER trading pair and execute your trade.
Last Step: Store SOLDIER Securely
Cryptocurrencies like SOLDIER have the potential to significantly rise in value so it is important that you consider secure options to store them.
There are generally two options for storing cryptocurrencies: software (online) wallets and hardware (offline) wallets, each coming with its own set of tradeoffs.
Software wallets are free to use, easy, and convenient. A software wallet is usually the best choice if you are storing small to medium amounts of crypto and want easy access to it.
Hardware wallets, on the other hand, are the most secure option since they keep your keys offline. However, hardware wallets can be expensive and more difficult to use, particularly if you require regular access.
CryptoWallet is an example of a software wallet that prioritizes security as well as convenience. All funds stored in CryptoWallet are protected by BitGo, a leader in the digital asset security space. CryptoWallet also has a wide array of features including its crypto debit card which makes spending your crypto as easy as using a debit card anywhere that accepts debit payments. Unfortunately, CryptoWallet is focused on major large-cap cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT), and not smaller niche currencies such as SOLDIER.
For a hardware wallet, you may want to consider a Ledger or a Trezor. Both of which are reputable, widely available, and offer options that support BSC tokens such as SOLDIER.
Other Useful Tools for Trading SOLDIER
If you prefer, you can also trade for SOLDIER on a Binance Smart Chain decentralized exchange (DEX) such as PancakeSwap. Decentralized exchanges allow you to execute trades directly from your chosen wallet without needing to rely on and give up custody to an exchange.
Using a DEX such as PancakeSwap will require you to set up your own non-custodial wallet such as Metamask before making your trade. You will also need to use BNB, the native token of the BSC chain. Therefore, this method is generally not recommended for beginners due to the extra steps it entails.
Can I buy SOLDIER with cash?
Unfortunately, most cryptocurrencies (including SOLDIER) cannot be purchased directly with cash. The exception is if you can find someone you know and trust who holds SOLDIER and is willing to make such a trade with you.
One of the great features of CryptoWallet is that it allows you to buy cryptocurrencies with your credit or debit card, which is similar to purchasing with cash. Once you’ve purchased a major cryptocurrency on CryptoWallet you can then trade that crypto for SOLDIER.
Are there any quick ways to buy SOLDIER in Europe?
We recommend following the steps outlined above as the quickest and easiest way to buy SOLDIER in Europe.
To summarize, you can use CryptoWallet to buy a major large-cap cryptocurrency such as Bitcoin (BTC) and then trade that BTC for SOLDIER on an altcoin exchange that supports both currencies. CoinGecko and CoinMarketCap are both great tools for finding which exchanges support which cryptocurrencies.
Are there any alternative platforms to buy SOLDIER or Bitcoin with credit cards?
There likely are, although they will come with their own risks and trade-offs. If the method outlined above does not suit your needs you can look for alternative options, but be sure to do your own due diligence and ensure that your chosen exchanges are reputable and safe before using them.