+23.66% growth: How to Buy Stakenet (XSN) – A Step by Step Guide

What is XSN?

Stakenet is a Lightning Network-ready open-source platform for decentralized applications (dApps) with its native cryptocurrency – XSN. It claims to be the first blockchain with Masternodes to be Lightning Network ready. The team claims that XSN has instant, virtually feeless, and unlimited transactions per second, and has the first Lightning Network DEX running on its network. It claims to be the first, next to Bitcoin and Litecoin, to ever perform Lightning Swaps. XSN is digital money, like bitcoin in the Bitcoin blockchain, or ether in Ethereum, as its supply is not controlled by any government or company. With Stakenet’s Trustless Proof of Stake, users can stake their coins from cold storage (such as a hardware wallet) and receive staking rewards whilst their funds are offline and not at risk - with the goal of offering strong security. Watch (https://www.youtube.com/watch?v=sXj3_qKSUBk) and check (https://stakenet.io) for more information.

Currently, XSN is being ranked 291 on Coinmarketcap and has recently surged a hefty 23.66% at the time of writing.

XSN has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy XSN.

Step 1: Register on Coinbase

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC) or Ethereum (ETH). We will use Coinbase here as it is one of the largest crypto exchanges that accept fiat deposits. Use this link to register at Coinbase and you will receive a free amount of $10 worth of BTC after buying $100 worth of cryptos.

Show Detailed Steps ▾

Type your email and click 'Get started'. Make sure you provide your real name as Coinbase will need it for account verification. Choose a strong password so that your account isn't vulnerable to hackers.

You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.

Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, Coinbase is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.

Step 2: Buy coins with fiat money

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees, such as iDeal in some European countries.

Now you are all set, click the "Trade" button at the top left, choose the coin you want to buy and confirm your transaction...and congrats! You've just made your first crypto purchase.

Step 3: Transfer your cryptos to an Altcoin Exchange

But we are not done yet, since XSN is an altcoin we need to transfer our coins to an exchange that XSN can be traded. Below is a list of exchanges that offers to trade XSN in various market pairs, head to their websites and register for an account.

Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from coinbase depending on the available market pairs. After the deposit is confirmed you may then purchase XSN from the exchange view.

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once XSN gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Last Step: Store XSN securely in hardware wallets

If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your XSN for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.

Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger and Trezor and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion. Use this link to buy Ledger and use this link to buy Trezor.

Frequently Asked Questions

Can I buy XSN with cash?

There is no direct way to buy XSN with cash. However, you can use marketplaces such as LocalBitcoins to first purchase Bitcoin, and finish the rest of the steps by transferring your bitcoin to respective AltCoin exchanges.

Buy Bitcoin from local sellers

LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. LocalBitcoins is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.

Are there any quick ways to buy XSN in Europe?

Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Coinmama.

Popular online banks in Europe are Bunq, N26 and Revolut. Check out this article for more information about these banks.

Are there any alternative platforms to buy XSN or Bitcoin with credit cards?

Yes. Changelly is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.

Latest News for XSN

Stakenet13 hours ago
Tired of maintaining your own #Masternode? Our Stakenet Cloud service is now hosting over 1300 $XSN masternodes val… https://t.co/NYkydn6BRr
Stakenet17 hours ago
RT @hedgetradehq: Our article on DEX Aggregators was recently updated to include @XSNofficial's Lightning DEX. Learn about them and 6 more…
Stakeneta day ago
RT @draper_X9: When the $XSN DEX is initially launched it will be a small network like any emerging network (including BTC which started wi…
Stakenet2 days ago
@PatrickFritzman @CryptoSnorlax Then join the test group 👍⚡️ https://t.co/1J920n62fR
Stakenet2 days ago
@PatrickFritzman @CryptoSnorlax Actually the product is working and almost ready for public release. There’s 20+ li… https://t.co/euEoP12dUr

You might also like