Blockchain gaming is rapidly redefining the gaming industry. One of the fast-rising blockchain gaming platforms is The Sandbox. The platform allows players to build, own, and monetise their gaming experiences on the Ethereum network. Interest in the Sandbox has prompted investors to inquire where to buy this digital asset.
In this beginner’s guide, we will explore what the Sandbox is and the best platforms to buy its SAND token for low fees.
Where to The Sandbox SAND
This section is our top picks of where and how to buy the Sandbox SAND Crypto token. We chose these based on our experience of using them and considered fees, security, payment options and reputation.
- Binance: Largest Crypto Exchange with Low Fees
- Coinbase: Highly Regarded and Easy to Use for Beginners
- Kraken: Top Platform With High Liquidity
Visit The Top Pick
Binance: Reputable Exchange with High Liquidity
Binance is the largest cryptocurrency trading exchange in daily trade volumes. The exchange offers investors full access to trade over 600 crypto assets.
The renowned platform also features a well-detailed learning curve and advanced trading tools that support well-experienced traders and investors looking to learn how to buy different cryptos. Although Binance features a user-friendly interface that facilitates a great user experience, it is more suited for well-experienced traders.
Read: Our Full Binance Review Here
Binance has a minimum deposit of $10. This enables investors to kickstart their investing journey with low fees. Investors can also initiate deposits through seamless payment methods like wire transfers, credit/debit cards, peer-to-peer (P2P) payments, and other e-wallet solutions.
Binance deposits come with a fee that varies based on the payment method used. For instance, the global exchange charges a standard fee of up to 4.50% for all deposits made with a debit/credit card.
All investors enjoy very low fees when trading on Binance, as it charges a standard trading fee of 0.1%. For investors that buy using Binance token (BNB), a discount of 25% on trading fees will be applied.
In addition, investors can rest assured that their funds and data are well protected whenever they trade on Binance. The broker features top-notch security measures like two-factor authentication (2FA), cold storage to keep most coins, whitelisting, and advanced data encryption to protect funds and data. Binance functions effectively in over 100 countries and has a spin-off regulated platform (Binance.US) that tends to US-based traders and investors.
Pros
- Trading fees at 0.01%
- High liquidity
- Wide range of payment methods
- 600+ crypto assets in library
Cons
- Interface is suited for advanced traders
- US-based customers cannot trade most coins via its subsidiary
Coinbase: Simple & Easy to Use Exchange
Coinbase is also a great option for investors looking for how to buy the crypto seamlessly. The US-based crypto trading platform enables users to buy, sell, and stake cryptocurrencies with zero complexity.
Coinbase integrates a user-friendly interface that simplifies crypto trading. The crypto trading platform supports well over 10,000 blockchain-based assets.
Read: Our Full Coinbase Review Here
The exchange’s signup and verification process take less than 10 minutes. For traders looking to invest easily, Coinbase is a great alternative to Binance.
Coinbase has a minimum deposit of $2, the lowest minimum deposit in the market presently This exchange also offers a wide range of deposit methods like automated clearing house (ACH), Wire transfer, debit card, and e-wallet solutions, as well as cashouts in local currencies like USD, GBP, and EUR. Coinbase charges up to 3.99% for debit card deposits.
Investors enjoy a 4% cash back reward whenever a Coinbase debit card is used for crypto purchases.
For fees, Coinbase charges a competitive fee of 0.5% - 4.5% depending on the payment method, cryptocurrency type, and transaction sizes.
Coinbase has evolved from a traditional exchange to a versatile platform with great services dedicated to retail and institutional investors, such as an in-built exchange wallet, self-issued cash back visa card, staking, derivatives, asset hubs, ventures, and many more.
Furthermore, Coinbase has in-built security practices like 2FA verification as an added security layer to investors’ usernames and passwords, crime insurance that secures digital assets from theft and fraud, and many more.
Also, Coinbase is licensed by the Securities and Exchange Commission (SEC) and regulated by top financial authorities like Financial Conduct Authority (FCA), Financial Crimes and Enforcement Network (FinCEN), and the New York State Department of Financial Services (NYSDFS).
Pros
- Beginner-focused
- Licensed and reputable platform
- Insurance in case of hacks
- Low minimum deposit
Cons
- High fee compared to competitors
- No credit card deposits for US customers
Kraken: Top Crypto Platform with High Liquidity
Founded in 2011, Kraken is one of the oldest and most popular cryptocurrency exchanges currently in operation.
The exchange has built a reputation as being a secure destination for anyone interested in trading cryptocurrencies and it is also a popular choice for both traders and institutions across a variety of locations.
Read: Our Full Kraken Review Here
Kraken retains an international appeal and provides efficient trading opportunities in numerous fiat currencies. Kraken is also the current world leader in terms of Bitcoin to Euro trading volumes.
Kraken is most well known for its Bitcoin and Ethereum to cash (EUR and USD) markets; however a wide range of both fiat and cryptocurrencies are tradable on the platform
Pros
- Dedicated service for institutions
- Great for beginners to use
- High trading liquidity
Cons
- The lengthy ID verification process
What Is Sandbox
The Sandbox is a project that creates and monetises gaming experience in the metaverse. Players on the platform can easily create games and virtual worlds on a decentralised basis and maintain ownership of their creations.
The main aim of The Sandbox is to eradicate the limitations of centralised gaming marketplaces. This voxel-based gaming platform enables users to create games, play them, share all types of creations, and most importantly, collect or trade in-game items without the need of a central authority. Each in-game item on this platform features a unique non-fungible blockchain identifier— used to confirm authentication of authorship.
The Sandbox ecosystem consists of three products that provide a smooth experience for the user-generated content (UGC) production process.
- VoxEdit – This is a powerful 3D voxel modelling and non-fungible token (NFT) functionality that shows newbies how to create and animate 3D objects and in-game characters like humans, animals, foliage, tools, vehicles, building, and plants. Once created, objects can be exported from VoxEdit to the Sandbox marketplace, where they become NFT game assets and are sold.
- Marketplace – The marketplace is where users upload, publish and sell their NFT assets made with VoxEdit. All creations are first uploaded to an InterPlanetary File System (IPFS) network to enable decentralised storage and then registered onto the blockchain for ownership validation. After this process is completed, creations become ASSETS that can be sold by initiating a sale offer on the marketplace where buyers can see and buy them— all items are technically registered as ERC-721 and ERC-1155 tokens.
- Game maker – This tool allows users to create amazing 3D games with no coding required due to accessible visual scripting tools. In addition, users can implement unique gameplay mechanisms and set up personalised scenarios.
SAND, The Sandbox’s native crypto, powers the gaming platform. The crypto asset runs on the Ethereum network and is the main asset of The Sandbox, where players can create and explore multiple game universes. SAND’s price hiked in late October 2021 after Facebook’s announcement of Meta and Mark Zuckerberg’s comments about the metaverse – a virtual universe that allows users to communicate through the use of avatars, in-game purchases, and more.
The SAND Token
SAND is a utility token of The Sandbox that enables users to earn money by playing the game. The token is deployed on the ERC-20 standard of the Ethereum blockchain, with a total supply of $1 billion tokens.
The SAND token powers all transactions and interactions in the project’s ecosystem. All players on the platform are required to own SAND to play the game, customise avatars, buy virtual land plots, or trade in-game assets in the marketplace. Users who own SAND tokens can also vote on decisions like updates, new projects, or features in the Sandbox game’s ecosystem.
The Sandbox has partnered with projects and companies such as Atari, Shaun The Sheep, and CryptoKitties, with an aim to eradicate centralisation and integrate blockchain into the game industry. As a result, crypto investors and enthusiasts believe SAND has high return potential and is capable of scaling past its all-time high of $8.44.
What Can You Do with SAND?
Access The Sandbox Gaming Platform
Players on the platform make use of SAND to play games, customise their avatar characters, and buy equipment.
Governance
SAND is a governance token, meaning that holders can participate in governance decisions on the platform via decentralised autonomous organisation (DAO) structures. They can vote on new implementations like upgrades, projects, feature prioritisation on the platform roadmap, and more.
Staking
SAND token holders can earn passive income by staking. This is also the only way to access valuable game catalysts and gems required to create ASSET.
How to Buy The Sandbox
Are you ready to buy The Sandbox? Here’s a detailed tutorial on how to buy SAND using our recommended cryptocurrency exchange, eToro.
This broker offers low fees, high liquidity, a wide range of crypto offerings, top-notch security, and in-built wallet functionality. To get started seamlessly, follow these detailed steps:
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
1. Sign Up
Visit eToro and click on the ‘Start Investing’ visible in the middle of the home page. This will redirect the investor to a registration page where they must enter a username, email address, and a strong password.
They can skip this process and sign up by connecting to a Google or Facebook account.
2. Verify ID
As a regulated broker, eToro requires that investors complete a know-your-customer (KYC) process on eToro. This process enables them to unlock this broker's full trading features and functionalities. To get started, click on the newly created profile icon and proceed to select the ‘Verification’ icon. Once done, upload a valid ID card. This could be in the form of a driver’s license or any government-issued identity card.
Investors will also be asked to submit a recent utility bill or bank statement to validate their addresses.
3. Deposit Funds
Once the verification process is complete, investors can proceed to initiate a deposit on their newly created eToro account. Click on the action tab, select ‘Deposit Funds’, choose a payment channel, and input the investment amount.
Investors in the UK and US can invest with a minimum deposit of $10 with cards and a minimum deposit of $500 for bank transfers. Once done, tap on the ‘Deposit’ icon to place an order.
Find & Buy SAND Token
Once the account is funded, go to the search bar and type in “SAND”. Click on the displayed result and the “Open Trade” icon. Unchanged: Once the account is funded, go to the search bar and type in “SAND”. Click on the displayed result and the “Open Trade” icon.
The Sandbox Wallets
Now that we have explained how to buy Sandbox, how do you store the asset? What type of crypto wallet is available for Sandbox investors? A crypto wallet helps investors securely receive, store, and protect their crypto assets and validate transaction information.
Software Wallet
Hot wallets, also called software wallets, are one of the most popular cryptocurrency storage options. They are always online, hence the affiliation with the ‘hot’ tag. Investors can easily get a hot wallet once they open an account with a crypto exchange. This allows them to store and manage their private keys, which prove their ownership of their assets to the blockchain network. Hot wallets are usually more convenient for everyday crypto transactions and can be custodial or non-custodial.
A custody wallet is responsible for storing assets to an exchange or a third-party platform. The user only places an order for a transfer or receipt, and the exchange signs off on the transaction, much like the traditional banking system. Meanwhile, a non-custodial or self-custody wallet gives the full responsibility to the end-user.
Hot wallets are usually free, but they are largely considered less secure due to their constant internet connectivity. An instance of a hot wallet is the Binance Wallet.
Hardware Wallet
A Hardware wallet is a device which has been created to provide an extra layer of security when interacting with your various cryptocurrency wallets.
Normally you would use your private key to move funds, the problem is though, if your computer has been compromised with malware or a virus, it is possible for your private keys to be captured and used to steal your funds.
With a hardware wallet, the private keys are stored on the device and never exposed to your computer, which means even if you are infected with such a program your private keys will remain safe. These options are safest way to store your crypto if you have more than a small amount.
Popular examples of cold storage offerings are the Ledger and Trezor line of hardware wallet solutions, read our reviews:
Mobile wallet
A mobile wallet is essentially a hot wallet on a smartphone device. They offer users an even more convenient way to use their coins for daily activities. Mobile wallets store and manage users' private keys while enabling them to pay for things they love with their digital assets.
These wallets are usually free and always online for transactions to be processed. Popular mobile wallets are eToro Money Wallet and Coinbase Wallet.
Desktop wallet
A desktop wallet is a PC version of a hot wallet. It is essentially software that an investor downloads into their personal computer or laptop for easy interaction with their digital coins. They also offer a browser extension which allows users to interact using an extension instead of downloading the entire software. Desktop wallets are also hack-prone due to their online nature. A popular example is the Exodus Wallet.
Paper Wallet
The paper wallet is arguably the oldest form of crypto wallet. They are no longer common in the modern crypto industry. It contains users' public and private keys. The paper wallet is the least secure type of wallet as it can easily be lost, stolen, or torched.
Conclusion
The Sandbox is a virtual game that allows users to purchase, sell, build, and trade in-game assets based on the Ethereum blockchain. Given the fast-paced growth and interests in the metaverse sector, The Sandbox and SAND token will continue to scale up and provide investment offerings to users.
Easily kickstart your investment journey with eToro as the exchange offers high liquidity, low trading fees, and has a user friendly interface.
The post Where to Buy The Sandbox (SAND) Crypto Coin: Beginner’s Guide appeared first on Blockonomi.
October 25, 2023 at 01:23AM https://blockonomi.com/ from Blockonomi https://ift.tt/hf10mgB
Comments
Post a Comment