My First Small Purchase Of STATERA (STA)

By fun2learn | fun2learn | 26 Jul 2020


I saw ‘MyStateraProject Writing Contest’ today that has a prize pool of $350 in DIA.

https://www.publish0x.com/publish0x-contests/mystateraproject-writing-contest-and-giveaway-a-minimum-of-3-xroroxj

I was indeed interested to participate and write about it so I watched a videoclip that was posted within the contest post to find out more about it.

Video Source

After watching the videoclip about Statera, I actually got interested in it that resulted me writing this post about my purchase.

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I am buying ETF monthly through auto-deduction from my bank account.

ETF has the advantage of not putting everything into one pie but spreads the investment in multiple places.

I found out that Statera spreads its portfolio in the currently 5 popular cryptocurrencies – Bitcoin, Ethereum, Chainlink, Synthetix and Statera.

Its balancer that was mentioned in the videoclip shared that it will adjust the liquidity pool automatically. This can help with the price growth as well as to ensure a stable price of this cryptocurrency. That is a bit like how ETF works that was mentioned to help crypto amateurs like me to understand how the whole project works.

With this information, it is more than enough for me to be interested. It has a solid plan to have a good diversified portfolio. It does not need a lot of brain power to understand this simple logic.

I found a videoclip that showed me how we can buy Statera to participate in this amazing project as a start.

Video Source

The method shown would require me to buy Statera by using uniswap through Metamask but I felt that ETH gas fee can be overpriced during this period of heated Defi transactions. Getting Statera into my Metamask would need to pay overpriced ETH gas fee.

I went to coinmarketcap and looked at the exchanges available currently.

I was glad to find out that Hoo Exchange is providing two trading pairs – STA/USDT and STA/ETH.

I have an account with Hoo Exchange so it was not hard to get my hands on Statera without paying ETH gas fee.

I used STA/USDT to make a very small investment.

 

Below is a screenshot of my little purchase in my account with Hoo Exchange.

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Image Source

 

Those who are interested to take a look at Hoo Exchange, I remember I did not have to submit any document to open an account but I remember simply verify my email account. A purchase of Statera means no ETH gas fee to pay. It was a simple reason for me to use Hoo Exchange to get Statera.

https://hoo.com/

I will probably hodl the Statera that I purchased. There is definitely great potential for it to grow into something big in future based on my humble opinion.

I am not an expert in trading or cryptocurrency but I made a small purchase as I see potential in it.

It is funny that I wanted to participate in the contest to win a prize but I ended up investing my money in Statera.

I am definitely not a financial adviser or a crypto expert but I am simply coming from an amateur’s point of view.

 

Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.

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fun2learn
fun2learn

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fun2learn
fun2learn

An educator who often writes educational articles as well as crypto-related articles.

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