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HomeElrondHow To Buy Elrond (EGLD) Online in 2022

How To Buy Elrond (EGLD) Online in 2022

Last updated 18th Aug 2022
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“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 2022.

Best Platforms to Buy EGLD – 2022

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%

Pros

Highly scalable
Fast
Secure
Extremely Efficient
Low cost transactions

Cons

This is definitely one to watch but it hasn’t yet achieved its core mission outside a testing environment
It’s another Ethereum killer and the last 100 Ethereum killers failed. ETH is close to solving it core scalability issues and if it does, that would be a negative for Elrond in its quest to overturn ETHs’ lead.
Has never released their source code so there is no guarantee their product will work

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

Khashayar Abbasi

Khashayar Abbasi

Khashayar discovered Bitcoin back in 2014 and has since spent countless hours researching the different use cases of cryptocurrencies. He has a bachelor's degree in International Relations and has been a writer in the financial services industry for nearly half a decade. In his spare time, Khashayar enjoys photography, cycling, and ice skating.