How to buy Oraichain (ORAI) coins on mobile phone

To secure your ORAI, store it in a hardware wallet, ensuring the reliability of software wallets like MetaMask or Trust Wallet if preferred.

Dec 22, 2024 at 12:18 am

Key Points:

• Download a cryptocurrency exchange app that supports ORAI
• Create an account with the exchange
• Verify your identity through the Know-Your-Customer (KYC) process
• Add funds to your account via bank transfer or debit/credit card
• Search for ORAI on the exchange and place a buy order
• Store your ORAI coins in a hardware wallet or software wallet

Step-by-Step Guide:

1. Choosing a Cryptocurrency Exchange

• Binance: One of the largest and most popular cryptocurrency exchanges, offering a wide range of coins, including ORAI.
• KuCoin: Another reputable exchange with a user-friendly interface and excellent customer support.
• Gate.io: Known for its low trading fees and support for various payment methods.

2. Creating an Exchange Account

• Provide your personal information (name, email, phone number)
• Set up a strong password for your account
• Enable two-factor authentication (2FA) for added security

3. KYC Verification

• To comply with anti-money laundering regulations, the exchange may require you to verify your identity.
• Submit a government-issued ID card or passport
• Provide a proof of address (utility bill, bank statement)
• The verification process usually takes a few hours to a few days

4. Funding Your Account

• Transfer funds from your bank account via wire transfer or SEPA (for European users)
• Purchase cryptocurrency directly with your debit or credit card
• The availability of funding methods varies based on the exchange

5. Buying ORAI

• Once your account is funded, search for "ORAI" on the exchange's trading interface.
• Different exchanges offer different order types, such as limit orders, market orders, and stop-loss orders.
• Select the order type that best suits your trading strategy and enter the amount of ORAI you want to buy.

6. Storing Your ORAI

• For secure storage, withdraw your ORAI coins from the exchange to a hardware wallet like Trezor or Ledger.
• You can also use a software wallet like MetaMask or Trust Wallet, but ensure its reliability.

FAQs:

• What is Oraichain (ORAI)?
  Oraichain is a decentralized data oracle that provides secure and tamper-resistant data verified by a network of nodes.
• Why should I buy ORAI?
  ORAI is the utility token of the Oraichain platform. Holders can stake it to earn rewards, participate in governance, and pay for data services.
• Is it legal to buy ORAI?
  The legality of buying ORAI varies by country. Check local regulations before investing.
• How can I sell ORAI?
  Reverse the buying process by placing a sell order on a cryptocurrency exchange.
• Is it a good time to buy ORAI?
  The decision of whether to buy ORAI or any cryptocurrency should be based on thorough research and not just short-term price fluctuations.