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How To Buy KIN Online in 2022

Last updated 16th Aug 2022
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Best Brokers to Buy Kin in 2022

Cryptocurrencies are more popular than ever before and finding a platform to purchase digital tokens can be a daunting task due to all the options available.

To save you the time and effort, we’ve listed the top platforms below to help you get started right away.

What Is the Difference Between Buying and Trading Kin?

Many new crypto enthusiasts use the terms buying and trading interchangeably, even though that’s not entirely correct. Before we explain how to purchase and trade Kin, let’s briefly overview these two processes.

Buying KIN

  • Buying is basically investing in KIN. Since the crypto is very volatile, you’re hoping that its price will go up over time, which is why you won’t do anything once you’ve obtained your desired amount of the cryptocurrency. You’ll just put it in your crypto wallet and “hodl” it long-term, only to sell it once you think the price is high enough.

Trading KIN

  • Trading is a more complex process involving buying and selling cryptocurrencies to make a profit. There are all kinds of trading strategies you can use that can bring you a quick buck. Naturally, there are risks involved as well as the market can move against you.

How to Buy Kin Online?

Buying KIN is a relatively straightforward process no different from buying any other cryptocurrency out there. Here’s what you need to do to become a KIN owner.

Step 1: Find an exchange
Step 2: Verify your account
Step 3: Deposit funds
Step 4: Use the search bar
Step 5: Confirm the transaction
Step 6: Your account balance will show the tokens

How to Trade Kin?

Trading KIN is a bit more complex, although it shouldn’t be too difficult to learn once you understand the basic principles. Below we have provided a short overview of the entire process to give you a better understanding of what’s involved.

Step 1: Find an exchange
Step 2: Create an account and verify it
Step 3: Deposit funds
Step 4: Use the search bar
Step 5: Confirm the transaction
Step 6: Your account balance will show the tokens
Step 7: Enter the number of coins you want to sell
Step 8: Press ‘sell’ and confirm the transaction
Step 9: Your account balance will show the fiat currency and profits

What Are the Different Ways to Pay For Kin?

Nowadays, there are plenty of ways to pay for cryptocurrencies including Kin. These have been outlined below:

Credit and Debit Cards

  • Cards are a standard payment method available in most online trading apps.

PayPal

  • PayPal is the most popular online wallet, and it’s accepted on many cryptocurrency platforms. Apart from PayPal, some companies will also accept other e-wallets, such as Skrill or Neteller.

Bank Transfer

  • Many online crypto exchanges and brokers accept bank transfers (also called wire transfers), which means you’ll make a payment directly from your bank account.

Cash

  • If you can find a seller who is willing to accept cash payments for Kin then this is a potential way to purchase the tokens as well. However, you should only use this method as a last resort as meeting someone for this sort of transaction can be risky. Always meet in a busy and public place.

What to Consider When Buying Kin?

Before buying Kin, there are a number of things you should consider to help you make a more informed decision. These are covered in the section below:

Deposit fees

  • Some online crypto trading platforms charge fees on deposits, so make sure to take that into account when choosing a platform. Ideally, you should pick a site that offers the best rates.

Trading fees

  • All platforms charge a small fee whenever you make a trade, and it often differs depending on the cryptos you’re trading. Check out additional information about the costs to see whether buying and selling Kin on the platform of your choice is worth it.

Volatility

  • Like many other cryptocurrencies, Kin is a highly volatile asset, so you should know what to expect before parting with your money.

Regulations

  • Make sure you read up on the regulations in your jurisdiction before creating an account on crypto platforms.

Long-term and short-term holding

  • Ensure you have a strategy in mind before investing. That way you can be more prepared if things go wrong.

Is It Safe to Buy Kin Online?

When it comes to buying cryptocurrencies, it’s always best to stick with regulated platforms.

That way you’re more protected in case something goes wrong. Furthermore, to increase the security of your account you should activate 2-factor authentication through the settings page. Avoid clicking on unfamiliar links and do not trust anyone who messages you on social media posing as customer service staff.

How to Store Kin?

You can store your KIN tokens on the exchange that you bought them however, this isn’t the safest thing you can do. In the unlikely event that the platform gets hacked, you may lose your funds. As such, it may be worth withdrawing your tokens and storing them in a private wallet that only you have access to. You can either use a crypto wallet that you can download for free on your PC or phone, or pay for a hardware wallet that requires you to physically approve transactions.

How to Sell Kin?

There are several ways you can sell KIN to other people. Let’s check out some of the most popular ones:

Exchange

  • Naturally, you can sell your KIN coins on the same platform that you bought them. Simply go back to the KINUSD market and sell the number of coins that you desire.

P2P service

  • A peer-to-peer marketplace connects you directly to other users. Here, you can sell your coins directly to another person.

Cash

  • Finally, you can find someone willing to pay you for Kin in physical cash. Once they make a payment, you need to send the Kin to their wallet. However, you always have to be extremely careful with this type of transaction to avoid scams.

Is It Worth Buying Kin Right Now?

Kin is a highly volatile asset much like other cryptocurrencies including Bitcoin and Ethereum. This means that its price fluctuates considerably in a short period of time. It’s important to keep this in mind before parting with your money.

That said, KIN is no longer as popular as it used to be. This is because other cryptos have come onto the scene and taken much of the attention away from the project. However, that doesn’t change the fact that Kik is still a popular platform used by millions of people per month, so there is still some potential for the project to do well.

Final Thoughts

When it comes to buying Kin, make sure you stick to regulated platforms and activate 2-factor authentication as soon as you create an account. Cryptocurrencies are highly volatile assets and gains are not guaranteed. As such, you should only invest with money you can afford to lose.

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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.