How do I buy a fan token on Binance.US?

How do I buy a fan token on Binance.US?

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1) Create a Crypto Platform Account

The first step toward buying a fan token is to create an account with a crypto platform, like Binance.US. This will give you the ability to use fiat currency like USD (money backed by a local government) to purchase digital assets.

Before choosing an exchange, be sure they have features that work for you regardless of the fan token (or other crypto) you choose to invest in. You never know when you might want to expand from fan tokens into the cryptocurrency market.

When you partner with a robust platform, you’ll be ready.

Look for features including:

Low trading fees

Ability to set recurring buy orders

Selection of trading pairs

Real-time order books

Advanced trading APIs for developers and API traders

Security

Selection of cryptocurrencies

2) Fund Your Account

The second step toward buying a fan token is to transfer funds from a traditional bank account to your newly created crypto platform account.

Most trading platforms offer a variety of ways to fund your account, including:

ACH (from a bank account)

Wire transfer

Debit card

We recommend verifying that the trading platform of your choice offers a funding method that’s convenient for you.

3) Select Which Token to Buy

After you’ve created and funded your account, you’re ready to start buying fan tokens. In most cases, it’s as simple as selecting the particular token, specifying how much you want to purchase, and clicking or tapping the “Buy” button.

If it’s a one-time purchase you’re after, that’s all you need to do. If, however, you want to purchase more fan tokens on a regular basis, you can take advantage of recurring buy orders.

This unique feature allows you to specify how many fan tokens you want to purchase and when you want to purchase them (e.g., daily, weekly, twice a month, or monthly).

With those variables set, the system then automatically executes a buy order at the specified time and for the specified amount without you having to do anything else.

Tips for Buying Fan Tokens

1) Be Aware of the Risk

The value of a particular fan token is largely determined by what the issuing organization has to offer and can fluctuate rapidly and at any time.

Before you purchase any cryptocurrency, educate yourself about the risk involved.

2) Research First

Before making any purchases, be sure to research the crypto in which you’re interested.

Gather information from multiple sources, and always keep in mind that:

Crypto markets (including fan tokens) can be volatile

Many of these tokens are so new that nothing is set in stone yet

Even experts in one token may not understand the new tokens coming online

The more time you spend researching, the better you’ll be able to practice risk management and protect yourself from the ups and downs of the market.

3) Prepare a Wallet

A crypto wallet allows users to store, access, and manage their fan tokens (and any other cryptocurrencies they buy). Wallets fall into two categories: hot wallets and cold wallets.

Hot wallets are those that online cryptocurrency exchanges offer to their customers, while cold wallets store cryptocurrency offline (e.g., on an external hard drive).

Purchasing fan tokens is generally available to anyone who wants to participate and has the funds. However, many users will be better served by buying and selling through a crypto platform, like Binance.US.

Upgrade Your Sports Experience

A fan token is a fun way to show support for your favorite team, interact with other die-hard fans, and gain exclusive benefits in the process.

Sign up with Binance.US today to upgrade your fan experience with a fan token from your favorite team.

Download the Binance.US app to trade on the go: iOS | Android

Legal disclaimer: This material has been prepared for general informational purposes only and should NOT be: (1) considered an individualized recommendation or advice; and (2) relied upon for any investment activities. All information is provided on an as-is basis and is subject to change without notice, we make no representation or warranty of any kind, express or implied, regarding the accuracy, validity, reliability, availability or completeness of any such information. Binance.US does NOT provide investment, legal, or tax advice in any manner or form. The ownership of any investment decision(s) exclusively vests with you after analyzing all possible risk factors and by exercising your own independent discretion. Binance.US shall not be liable for any consequences thereof.