Today we are going to be taking a look at Supersonic Finance. (SSN) This newcomer on the crypto scene promises to create a ‘high-performance engineering cross-chain solution’ for the emerging markets of the crypto space. In this article, we are going to explore the SSN token, what it does and how to get it.
What is SSN?
The Supersonic Fiance platform and its native SSN are relative newcomers to the crypto space. The design of this platform seeks to create highspeed, no-fuss cross-chain operability through high-tier protocol architecture. Given that multichain operability is a key emerging market in the crypto ecosystem, SSN seeks to create a protocol/framework/ecosystem that can handle a variety of blockchain products simultaneously.
Created in 2020, this platform was founded by two creators, Jin, the CEO, and Hardsha, the CTO and lead engineer. With a design focus that zeros in on creating a better bridge between developers and their design tools. On a technical level, the SSN token runs via BNB Smart Chain (BEP-20) architecture.
Step 1: Register on Fiat-to-Crypto Exchange
SSN is an altcoin and therefore it must be purchased via trading it for another cryptocurrency. Usually, tokens operate off the ERC-20 standard and therefore are usually purchased by trading Bitcoin (BTC) or Ethereum. (ETH) However, SSN operates off the BEP-20 chain and therefore it must be purchased through the Binance (BNB) and this can require a few extra steps.
The first step will be to sign up for a BNB trading Fiat-to-Crypto Exchange. We’ll be using TrustWallet for this tutorial, which you can get from the Apple App Store or Google Play Store. Follow the on-screen instructions to send/link a fiat account to your TrustWallet Account after you’ve completed the download. Now, transfer the desired amount of fiat to your TrustWallet via wire transfer.
Whenever you are looking for an exchange, it’s a good idea to shop around because different exchanges have different services and offer varying charges. CryptoWallet for example is one such wallet that is worth keeping an eye on as it is a safe and simple-to-use exchange that can be downloaded from the Apple Store or Google Play Store. While it does not presently offer BNB trading, it might be worth your while to keep it in mind for other services.
Step 2: Buy BNB with Fiat Money
Your fiat currency will now appear in your TrustWallet, and you are now at liberty to swap it for some BNB Token. To begin, open the TrustWallet app and navigate to the trade tab. Choose BNB SmartChain as your trading option, enter the amount you want to buy, and click ‘trade.’
Lots of altcoin exchanges such as TrustWallet, CyrptoWallet, and MetaMask will offer price charts, various trading tools, and live market data when you are conducting business via their service. These kinds of tools are useful in the hands of wise investors as they allow you to make the best decision possible with your money.
After you click on ‘trade,’ there will be a small confirmation time, this will generally be less than 30 minutes. Once all that is done, the quantity of BNB SmartChain will be displayed on the screen in your TrustWallet app.
Step 3: Transfer BNB to an Altcoin Exchange
The next step is to exchange your freshly bought BNB for SSN. To do so, you’ll need to link your TrustWallet account to an altcoin exchange platform that supports the BNB/SSN trading pair.
In the case of SSN, you have a few options such as LBank or Hotbit but for this guide, we’ll be utilizing PancakeSwap (V2) instead.
PancakeSwap (V2) is a DEX platform, which stands for ‘Decentralised Exchange.’ This sort of trade platform differs from other altcoins in a few ways. DEX platforms, unlike other exchange platforms, do not require the same degree of verifications and KYC regulatory cohesiveness as other systems, and as a result, DEX platforms do not maintain track of your private keys. Therefore you must take great care to keep track of your private keys, as the DEX platform will be unable to assist you if these keys are lost.
Go to the dApps area at the bottom of the page in your TrustWallet account and search for PancakeSwap. You’ll notice the option to ‘link wallet’ in the upper right-hand corner, select it. Now PancakeSwap exchange is linked to your TrustWallet.
For your next step, go to CoinMarketCap and search for Supersonic Finance. (SSN) Here there will be a contact address that can be copied. Copy the address and paste it into PancakeSwap, which is now open in your TrustWallet App. This will enable you to ‘import’ the BNB/SSN trading pair.
You may now exchange BNB SmartChain for SSN. It’s a good idea to research several trading choices and trading factors such as ‘slippage,’ and choose the one that best meets your needs.
Last Step: Store SSN Securely
Congratulations, you are now the proud owner of some SSN tokens!
But now you might be wondering about what to do with your SSN, now that you’ve got it. For this, you’re going to have to start thinking about a wallet. In the case of SSN, you are somewhat limited in terms of options, though it nevertheless pays to shop around. Your primary options are going to be MetaMask and Binance Chain Wallet.
After you’ve selected a wallet that holds SSN, follow PancakeSwaps instructions and paste your wallet address into the withdrawal option and select ‘withdraw funds.’ After a brief confirmation period, your SSN funds will be displayed in your new wallet.
Though CryptoWallet presently does not support the SSN coin, it is worth keeping an eye on, as this wallet system is both versatile and simple to use and has outlined a road map for future coin integrations.
Other Useful Tools for Trading SSN
It is important to note that we are not permitted to give trading advice or suggestions, however, we can offer some information regarding different trading tools that are extremely useful when conducting business.
Most trading tools give on-screen information that allows you to track an asset’s movements, growth, price, volume, or intensity, and by combining these tools, you can make better-educated judgments.
On-Balance-Volume (OBV) is a straightforward indicator that depicts both positive and negative volume movement, as well as the value direction of an asset’s trend.
The Average Directional Index (ADI) is a simple indicator that informs traders about the strength of a trend. The movement intensity of the asset offers you a better picture of how often long movements occur.
The Stochastic Oscillator shows traders the asset price over time as well as a specific situation inside that time frame.
Latest News for SSN
Here we will discuss some of the news updates in relation to Supersonic Finance.
On July 14th, 2021, Supersonic Finance released a blog post discussing much of the hype surrounding the coin. In this blog post, many of the benefits of cross-chain operably were discussed in the context of emerging fintech opportunities.
On July 8th, 2021, Supersonic had a press release in which they discussed much of the future road map. In this article, they discuss community developments, partnerships moving into the future, and the general state of the platform.
Can I buy SSN with cash?
As an altcoin SSN cannot be purchased directly with cash. Instead, look to the above guide on how to purchase.
Are there any quick ways to buy SSN in Europe?
SSN can be easily purchased in Europe via the above-mentioned tutorial.
Are there any alternative platforms to buy SSN or Bitcoin with credit cards?
You are not able to purchase SSN with a credit card, instead follow our simple step-by-step above.