Purchasing cryptocurrencies like UBX can be daunting for new users. This guide will show you exactly how and where you can go to have you safely hold UBX in no time.
What is UBX?
UBX is the native token of the exciting Ubix Network ecosystem. The Ubix Network is a protocol that allows developers to create their own fully-integrated blockchains. Ubix hopes to be the single network that integrates all major Web3 projects so that applications built on different blockchains can communicate and interact.
Since launching in 2021 UBX and the Ubix Network have skyrocketed in popularity and price. If it can come anywhere close to achieving its goal of integrating major blockchains there is little doubt that it will continue its upward trend. This makes UBX an exciting token to watch out for.
If you’re interested in investing in or trading UBX, read on to learn how to make it happen.
Step 1: Register on Fiat-to-Crypto Exchange
Before you can buy cryptocurrencies like UBX you will need to convert your fiat money to crypto via an onramp like a fiat-to-crypto exchange. The most reliable exchanges will be regulated and require you to register first with your I.D. (such as a driver’s license) to protect against fraud and other illegal activities.
For a quick and easy registration process, we recommend using CryptoWallet. CryptoWallet is a regulated exchange with an easy-to-use and guided registration process. Simply download the CryptoWallet app on your smartphone and follow the instructions. Users are generally able to create an account and be fully registered in less than 15 minutes.
Once you have registered with a fiat-to-crypto exchange you are ready to begin purchasing cryptocurrencies.
Step 2: Buy BTC with fiat money
The next step is to enter the crypto economy by purchasing a cryptocurrency which you will later trade for UBX.
CryptoWallet offers one of the easiest ways to buy cryptocurrencies since you can use your debit or credit card from almost anywhere in the world to instantly buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT).
While you cannot purchase UBX directly on CryptoWallet, you can very easily purchase other cryptocurrencies to trade for UBX later on by sending that crypto to an altcoin exchange that supports UBX. In many cases, since you are trading crypto for crypto on the other altcoin exchange, you will not be required to upload I.D. again, so you can rest easy knowing that your personal information is stored safely with CryptoWallet only.
We recommend purchasing BTC with fiat and then sending your BTC to another exchange to trade for UBX. This is because Bitcoin is the most widely accepted cryptocurrency and is often used as a trading pair on altcoin exchanges, making it easy to swap directly from BTC to UBX or other cryptocurrencies.
Step 3: Transfer BTC to an Altcoin Exchange
Now that you have BTC in your CryptoWallet, you are all set to transfer that BTC to an altcoin exchange so that you can trade it for UBX. Be sure to do your own research to make sure the altcoin exchange is reputable and supports UBX before sending your funds to them.
To send BTC to the exchange of your choice you will need to sign up for the said exchange and find your BTC address given to you by that exchange. You can then log back into your CryptoWallet and paste that address into the “Send To” section.
It may take some time (15-45 minutes) for your BTC to arrive at your new altcoin exchange address.
Once the BTC has arrived you are all set to trade your BTC for UBX.
Last Step: Store Ubix Crypto securely
Now that you are the proud owner of UBX you should consider finding a safe and secure place to store it. Storing your crypto on an exchange is not recommended for security reasons, the exception being CryptoWallet, which provides its own encrypted wallet in the same application as the exchange. As mentioned, CryptoWallet does not support UBX, so here are some other good options to store your UBX safely.
For long-term security, the best option is likely a hardware wallet. Hardware wallets are small devices that hold your crypto keys and only let you spend that crypto when your wallet device is connected to your computer. This way you can know that your funds are stored safely offline when you are not using the hardware device.
We recommend using either a Ledger or a Trezor device since they are both trusted manufacturers whose hardware wallets support ERC-20 tokens (including UBX), and whose devices are affordable and readily available to most people.
One potential problem with a hardware wallet, however, is that you trade extra security for convenience. In many cases, a secure software wallet provides enough protection and allows you to easily manage, trade, and stake (lend your assets for interest).
CryptoWallet is one of the most secure options for a software wallet since all funds are protected by BitGo, a leading custodian in digital asset management. Users can also spend their funds anywhere that accepts debit cards if they sign up for the free CryptoWallet debit card. Unfortunately, CryptoWallet only supports the high-cap cryptocurrencies mentioned above, so it is not an option to store UBX.
Other Useful Tools for Trading UBX
As mentioned above, you will eventually need to use an altcoin exchange to trade for UBX.
The largest and safest centralized exchange to trade BTC for UBX is KuCoin.
In addition to this, you can also trade for UBX using Ethereum (ETH) on a decentralized exchange like Uniswap. Decentralized exchanges (DEXs) are a great way to stay secure by never giving up custody of your coins. Swaps are made instantly to an address that you control, so you could send your UBX to your hardware wallet or an ERC-20 hot wallet like MetMask, which lets you store Ethereum tokens in your browser.
You can also purchase Ethereum (ETH) in the CryptoWallet app and swap directly from your CryptoWallet to a DEX. You can then send the UBX tokens to a different wallet of your choosing that supports UBX.
Can I buy UBX with Cash?
You cannot buy UBX directly with cash, unfortunately. It is very difficult and not recommended to purchase any cryptocurrency with cash since you will likely have to pay a premium and there is a much higher chance of being scammed or taken advantage of because cash is nonrefundable.
The easiest way to buy UBX is to buy BTC or ETH with your credit or debit card on CryptoWallet, then trade the BTC or ETH for UBX on an altcoin exchange or DEX.
Are there any quick ways to buy UBX in Europe?
The quickest way to buy UBX in Europe is to use your CryptoWallet account to buy BTC or ETH and to send that BTC or ETH to an altcoin exchange or DEX to trade it for UBX. This way you are only giving your personal information to CryptoWallet which is a regulated and registered company with privacy-first policies.
Are there any alternative platforms to buy UBX or Bitcoin with credit cards?
While CryptoWallet is a great platform to buy Bitcoin with a credit card and send it to another exchange to trade for UBX, other options do exist. The majority of crypto platforms require banking information for you to send directly from your bank account which can take time to settle. This is also true for CryptoWallet.