How to buy Elastos (ELA) coins on mobile

When purchasing Elastos (ELA) coins on mobile, it's crucial to choose reputable exchanges like Binance, KuCoin, XT.COM, or Bittrex for secure trading and low fees.

Jan 04, 2025 at 10:06 am

Key Points:

• Choosing the best crypto exchanges for ELA purchases
• Verifying your identity on chosen exchanges
• Funding your exchange account with supported payment methods
• Placing an order to buy ELA coins
• Storing your ELA coins securely in a wallet

How to Buy Elastos (ELA) Coins on Mobile

1. Choose the Best Crypto Exchanges

• Binance: Global crypto exchange with high trading volume and low fees. Offers a wide range of cryptocurrencies, including ELA.
• KuCoin: Popular exchange for altcoins, with a user-friendly interface and competitive fees. Supports ELA trading pairs with multiple fiat currencies.
• XT.COM: Cryptocurrency exchange known for its low trading fees and support for various altcoins, including ELA.
• Bittrex: Long-standing and reputable crypto exchange with a proven track record. Offers ELA trading pairs with USD and USDT.

2. Verify Your Identity

Most reputable cryptocurrency exchanges require users to verify their identity before purchasing cryptocurrencies. This process typically involves submitting your personal information, such as name, address, and government-issued ID.

3. Fund Your Exchange Account

To purchase ELA coins, you will need to fund your exchange account with a supported payment method. Common options include:

• Bank transfer (SEPA transfers for Eurozone residents)
• Credit/Debit card
• Cryptocurrency deposits (e.g., Bitcoin, Ethereum)

4. Place an Order to Buy ELA

Once your account is funded, you can place an order to buy ELA coins. Select the "Buy" option in the exchange interface and specify the amount of ELA you wish to purchase. Choose the desired trading pair (e.g., ELA/USDT) and place your order.

5. Store Your ELA Coins Securely

After your ELA purchase, it is crucial to store your coins in a secure wallet. Consider the following options:

• Hardware wallet (e.g., Ledger, Trezor): Provides offline storage, offering the highest level of security.
• Software wallet (e.g., Trust Wallet, Argent): Available as mobile apps, offering convenience and accessibility.
• Exchange wallet: Convenient for short-term storage, but less secure than hardware or software wallets.

FAQs:

Q: What is the minimum amount of ELA I can buy?
A: The minimum purchase amount varies depending on the exchange you choose. Check the exchange's specific trading conditions for minimum order sizes.

Q: Are there any fees associated with buying ELA?
A: Yes, most exchanges charge trading fees for buying and selling cryptocurrencies. These fees may vary based on the exchange, trading pair, and payment method used.

Q: How long does it take to buy ELA?
A: The time it takes to complete an ELA purchase depends on the verification process, payment method, and exchange traffic. Typically, purchases can be completed within a few minutes to a few hours.

Q: Can I hold ELA in the exchange wallet indefinitely?
A: While it is convenient to hold ELA in an exchange wallet, it is generally not recommended for long-term storage due to security risks associated with centralized platforms.