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Binance, Euro and EGLD

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  • 09-02-2021 7:57pm
    #1
    iba
    Registered Users Posts: 2,624 ✭✭✭


    Hi,

    I'm new to Binance and wanted to buy some EGLD. I deposited funds successfully but for the life of me can't figure out how to buy EGLD using my Euro balance.

    I'm thinking its not possible and that I first have to either convert my Euro balance into USD or buy another coin like BTC and then buy EGLD using the BTC.

    Would be grateful for some guidance please.

    Thanks
    Tagged:


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    #2
    dougal0691
    Registered Users Posts: 92 ✭✭dougal0691


    yeah, buy bitcoin with your euro then exchange for egld. or buy usdt with your euro then exchange for egld. usdt is tether which is pegged to the us dollar so there is no fluctuations in price. there's a small possibility bitcoin could drop 10% while exchanging it for elrond.

    whats the story with elrond? what does it do? why are you buying it over another coin?


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    #3
    iba
    Registered Users Posts: 2,624 ✭✭✭iba


    dougal0691 wrote: »
    yeah, buy bitcoin with your euro then exchange for egld. or buy usdt with your euro then exchange for egld. usdt is tether which is pegged to the us dollar so there is no fluctuations in price. there's a small possibility bitcoin could drop 10% while exchanging it for elrond.

    whats the story with elrond? what does it do? why are you buying it over another coin?

    Thanks very much for your quick and detailed reply. Ill have a look now to see how to trade it for USDT.

    Can't tell you anything special about EGLD except what is on net; it is designed to make transactions faster. My reasons though for buying are it are four fold:

    1) want to diversify into more coins that are not listed on more usual exchange; also want some ZIL and DIA
    2) circulation is limited and 57% approx. of coins in circulation are staked.
    3) can earn up to 30% p.a. by staking. Way more than any other coin. DOT for instance is 12% approx.
    4) I believe it will increase in price.

    Now to figure out how to convert to USDT = that was painless, done.

    Cheers


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