How to buy Elrond: Guide for Beginners

By Fiatom.io | Fiatom.io | 8 Apr 2022


The master of Rivendell, the bearer of Vilya, the Ring of Air. Elrond is one of the main characters of John Tolkien, which we will not talk about today. But let’s talk about Elrond, the bearer of the fastest and safest blockchain title.

Key Points:

  • Elrond is an innovative platform that is characterized by its high scalability, security, and cost-effectiveness.
  • You can buy EGLD or sell EGLD on most major crypto exchanges.
  • With the help of Fiatom, you can find the most favorable exchange rate.

What is Elrond?

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Elrond is a public blockchain created with the expectation of maximum scaling, interaction with other networks, and record transaction speed. The developers claim that the throughput of Elrond is a record 15,000 transactions per second. According to statements from the Elrond website, the network can scale up to 100,000 transactions per second. The Adaptive State Sharding technology test showed 260 thousand TPS. Along with the lightning speed, users can also be pleased with the low transaction fees ($0.001 per transaction). The project team aims to create a decentralized network that will provide better performance than centralized databases while ensuring user privacy. The project is trying to achieve this through a set of unique technologies. It runs on its own Secure Proof-of-Stake (SPoS) consensus algorithm. It also uses its Adaptive State Sharding technology.

An experienced development team is behind the project. The CEO of the project is Benjamin Mincu, who worked at NEM for a year and a half. He led marketing business processes and built a community to make NEM a global financial project. The second founder is Lucian Mincu. He is an engineer with eight years of experience. He worked in such areas as complex infrastructure and network solutions for the German government.

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On the first trading day, the coin’s value was approximately $12. Now the price is about $160. The primary growth occurred during the rally of 2021. On November 23, 2021, following the entire crypto market, EGLD recorded its all-time high of $542.

 

Best crypto exchanges

EGLD cryptocurrency is in the top 50 by market capitalization so that it can be freely bought/sold on most crypto exchanges. The most popular exchanges for EGLD trading are:

 

Binance

Binance was founded in 2017 and since then has been able to take first place in the list of the most famous and reliable crypto exchanges. 600 cryptocurrencies can be traded on the exchange, using both classic and advanced trading. Binance has the lowest trading fees among exchanges.

The best for low fees. 

Trustpilot Rating: 2.0

 

Gate.io

Gate.io was founded in 2013 and had a reputation as the most secure and reliable crypto exchange. In addition to trading, Gate.io also offers fiat-on-crypto purchases. The developers assure that users’ funds are fully protected.

The best for users’ security.

Trustpilot Rating: 2.3

 

Coingate

Coingate was founded in 2014 and is one of the most user-friendly services. Users can effectively buy and sell their crypto assets, and merchants can start accepting crypto for payment using Coingate.

The best for fiat-on-crypto purchases.

Trustpilot Rating: 3.9

 

Uphold

Uphold was founded in 2013 and is distinguished by its reliability and security. The exchange supports 88 crypto and more than 20 fiat currencies. Uphold is a multifunctional trading platform where you can buy, sell, and receive cryptocurrency.

The best for assets’ diversity.

Trustpilot Rating: 2.1

 

Liquid

Liquid was founded in 2014 and today has become one of the largest crypto exchanges. In addition to fiat-on-crypto purchases, users can trade various cryptocurrencies. The platform is characterized by speed, various deposit options, and deep liquidity.

The best for fast withdrawals.

Google Play Rating: 3.8

 

How to buy Elrond?

You can buy and sell EGLD for fiat on most crypto exchanges that support fiat-on-crypto purchases. But if you want to buy/sell EGLO as profitably as possible and with a minimum of effort and time, then use Fiatom. We will compare rates from leading fiat providers and provide you with the best offer. Just follow the instructions below:

 

  1. Select the fiat currency and specify the amount.
  2. Choose EGLD.
  3. Choose the best offer from one of our partners.
  4. Complete payment on the website of the selected provider.
  5. Get your newly EGLD directly to your wallet.

 

In the case of a sale:

  1. Choose EGLD and enter the number of coins you want to sell.
  2. Select the fiat currency that you want to receive in return.
  3. Choose the best offer and complete the purchase on the website of the selected provider.

 

Conclusion 

Today Elrond is an ambitious project. The network really shows record speed with Adaptive State Sharding technologies and the Secure Proof-of-Stake algorithm. Many other networks are far from it. The project’s future depends on how the team will continue implementing its developments. But currently, we can say that Elrond is one of the strongest competitors of Ethereum and other similar projects.



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