How to Buy Elrond (EGLD) Online in 2023
“Elrond’s outstanding contributions rest on two foundational building blocks: a novel scaling approach of Adaptive State Sharding and Secure Proof of Stake consensus, enabling fast and secure decentralised networks.”
— Ella Zhang, Head of Binance Labs
Read on to discover exactly what Ella Zhang means. This guide will take you through all of the steps needed to understand and buy EGLD in 2023.
Best Platforms to Buy EGLD – 2023
Crypto assets are highly volatile and largely unregulated. There is no guarantee that any crypto asset will have at any time in the future certain value (if any) or market liquidity. Crypto assets are at risk of losing substantial (or all) value within a short time period.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What Is EGLD?
EGLD is the most widely used and traded cryptocurrency in the world. Instead of requiring a centralised body such as a bank to verify transactions, all EGLD payments are recorded on a public ledger called a Blockchain which is constantly maintained by users of the cryptocurrency. This means that EGLD can be bought, spent, and traded without the need for any institution to oversee the process.
Beniamin Mincu – Co-founder and CEO
Tech Visionary & Early Blockchain Pioneer in Europe. Previously Product & Business at Nem Core in 2014, Founder & CEO MetaChain Capital.
Lucian Todea – Co-founder and COO
Tech Entrepreneur. Founder & CEO Soft32, 10M users/month, Partner mobilPay, Angel investor in Typing DNA & Smart Bill.
Lucian Mincu – Co-founder and CIO
Self-taught Tech Whiz Kid. Previously Engineer at Uhrenwerk 24, Cetto, and Liebl Systems. Co-founder & CTO MetaChain Capital.
Founded in January 2020
Market Cap is $1,552,490,993
Fully Diluted Market Cap is $4,237,149,614
Total EGLDs in circulation is 19,282,554.54 EGLD
EGLDs total potential supply is 31,415,926
The circulation to total supply Ratio is 61%
How Does EGLD Work?
Elrond is its own blockchain, designed to compete with other blockchains like Ethereum
Its coin. EGLD, powers the Elrond network and is used to send transactions, interact with dApps and incentivise users.
The core differences already discussed are the Adaptive State Sharding and the Secure Proof of Stake, both of which are unique to Elrond.
It has a high level of interoperability and extremely high throughput, making it both efficient and easily adapted to the wide crypto universe.
Now that you know what EGLD is and how it works, you can use one of the brokers above to buy EGLD. However, if you’re still unsure about how to get started, continue reading!
How to Buy EGLD
You can easily buy EGLD on major cryptocurrency exchanges. Here’s a step-by-step guide on how to buy EGLD online:
Step 1: Find an Exchange
Step 2: Sign up for an Account
Step 3: Make a Purchase
Top Tip: If you live in a jurisdiction or deal with a bank that prohibits Crypto transactions, Binance has a nifty feature where you can trade coins directly with other users in exchange for a variety of FIAT currencies. There is no way for the banking system to tie this transaction to Cryptocurrency and it can save you a lot of time. Check it out!
Congratulations, you’ve just bought your first EGLD!
How to Trade EGLD
Trading EGLD is slightly different from buying it. Follow these steps to get started:
Step 1: Find an exchange
Step 2: Deposit money
Step 3: Decide how to trade