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How To Buy Stratis Online in 2022

Last updated 16th Aug 2022
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After a relatively quiet few years following its all-time high price in 2017, Stratis (STARX) has enjoyed a slight resurgence in 2021. STRAX has gained attention as cryptocurrency enthusiasts branch their horizons beyond leading coins.

Stratis might provide a handy long-term investment. But before you make a decision, it’s worth doing a little extra research. On this page, you’ll discover where you can buy STRAX online.

We’ll also identify the different payment methods you can use to fund your account, plus all the things you need to consider and more.

Best Brokers to Buy Stratis in 2022

Stratis is a little more difficult to purchase than some of the other altcoins on the market but is by no means impossible. To help you make a better decision, we’ve put together a list of the best providers below.

What Is the Difference Between Buying and Trading Stratis?

When researching cryptocurrencies online, you’ll notice the terms “buying” and “trading”. If you’re a beginner, it’s easy to think that they’re interchangeable — but that isn’t the case.

To help you understand the difference, we’ve written a brief explanation for both of these below.

Buying Stratis:

  • When you buy Stratis, you will own the coins outright. You can use them to make a profit and keep them in a wallet and use them for personal reasons.

Trading Stratis:

  • In contrast to buying STRAX, trading means that you do not own the coins outright. Instead, you purchase the underlying assets. You can only use them for selling.

How to Buy Stratis Online?

If you choose to buy Stratis, you’ll most likely use a cryptocurrency exchange. The steps for purchasing your coins are pretty straightforward; we’ve listed these below.

  • Step 1: Find a cryptocurrency exchange that offers Stratis.

  • Step 2: Sign up for an account and verify your identity.

  • Step 3: Deposit fiat money into your account using your preferred payment method.

  • Step 4: Purchase your STRAX and store them in a wallet until you’re ready to use or sell them.

How to Trade Stratis?

In contrast to buying Stratis, trading requires following a couple of different steps. Having said that, the process is by no means complex; we’ve listed each of them below to help you out.

  • Step 1: Find a broker that lets you trade STRAX assets.

  • Step 2: Sign up for an account and verify your identity during the know your customer (KYC) check.

  • Step 3: Deposit money into your account.

  • Step 4: Choose how you want to trade (e.g. spread betting).

  • Step 5: Buy your Stratis assets.

What Are the Different Ways to Pay for Stratis?

When buying Stratis, you’ll typically need to add funds to your account first.

You don’t necessarily need to buy another cryptocurrency first to pay for Stratis. Examples of exchanges that accept fiat currency to buy STRAX are Gate.io and Crypto.com. Meanwhile, you can trade other cryptocurrencies for Stratis using platforms like Hotbit.

We’ve listed the most common ways to pay for Stratis below.

PayPal

PayPal isn’t as common in the crypto space as it is in, say, e-commerce. However, you’ll still find a couple of places to add money to your account using this service. As a bonus, you can withdraw your funds just as quickly after selling your STRAX and getting fiat money for it.

Pros

Signing up for a PayPal account is easy
Fast transactions
Easy to use

Cons

Not accepted at every cryptocurrency exchange
High fees often involved

Bank Transfers

Almost every major cryptocurrency exchange will let you deposit using bank transfers. You can use several options in this respect, such as SEPA and wire transfer; the best choice for you will depend on where you live.

Pros

Widely accepted
Easy to use
Several bank transfer options are available

Cons

Transactions can take longer than expected
Your bank might choose to reject your transfer request

Debit and Credit Cards

Like bank transfers, debit and credit cards are widely accepted — and you shouldn’t have any problems finding an exchange that will let you fund your account using either of these payment methods. VISA and MasterCard are widely accepted, and it shouldn’t be too challenging to find somewhere that lets you use American Express either.

Pros

Easy to use
Often faster than bank transfers
Widely accepted

Cons

Card fees are often high

Cryptocurrencies

Arguably the easiest way to fund your account is by using another cryptocurrency, provided you’ve already got some. You can choose to exchange these directly for STRAX, but some platforms will also let you deposit into your account before buying Stratis.

Pros

Instant transactions
Little or no fees
Secure

Cons

Irreversible transactions — problematic if you send to the wrong place
It’s a good idea to already have some cryptocurrencies to perform this method

What to Consider When Buying Stratis?

When you buy Stratis, there are several considerations that you need to make. To make researching more manageable for you, we’ve outlined the most important of these in a bulleted list and provided a brief explanation for each of them.

Research your platform:

  • When buying Stratis, you’ll find a variety of choices. However, it’s important to remember that not all cryptocurrency exchanges and brokers are created equally. Before you sign up to a platform, make sure you’ve done your research — and read customer reviews to make a better decision.

Remember that cryptocurrencies are volatile:

  • Cryptocurrency prices fluctuate regularly, and while you can make significant profits, you can also generate large losses if you aren’t careful. Ultimately, buying Stratis is your responsibility.

Keep fees in mind:

  • Regardless of the platform you choose, you’ll need to pay some fees. Many will charge you for deposits and withdrawals, and cryptocurrency exchanges will often make you pay maker and taker fees for buying and selling STRAX.

Long-term holding:

  • You will hold your Stratis coins for longer than 12 months when you choose a long-term holding strategy. If you think you can make a profit in the long run, this is the way to go. Long-term holding is also referred to in the crypto community as hold on for dear life (HODL).

Short-term holding:

  • You will sell your Stratis coins in 12 months or less when adopting a short-term holding strategy. This is especially useful when you expect the market to change in a way that will help you generate a significant profit.

Is It Safe to Buy Stratis Online?

If you use a reputable place to buy Stratis, you shouldn’t run into any significant problems. However, it’s also important to remember that cryptocurrencies are a popular target for cybercriminals.

While using a platform you trust is essential, it’s even more crucial that you take additional steps to stop yourself from falling victim to malicious activity. Below, we’ve listed a selection of tips to help you stay safe when purchasing STRAX online.

Enabling two-factor authentication:

  • Two-factor authentication (2FA) involves verifying your identity using an additional means to your login details, such as through a code sent via SMS or email. When you sign up for a cryptocurrency exchange or wallet, this is one of the first things you should do to safeguard yourself.

Asking for help only on an official site:

  • When you need assistance, you’ll find several places to do so online. However, it’s worth sticking to reputable and official websites and forums. You’ll be more likely to receive reliable advice and stand at a lower risk of clicking on links that could infect your device with malware.

Passing only the necessary KYC information:

  • During a KYC check, you’ll need to submit a copy of your passport or driving licence — plus proof of your address, such as a bank statement or utility bill. You’ll rarely need to hand over more than this and should refrain from using platforms that ask you for unreasonable documents.

Storing your STRAX in a wallet:

  • You’re not obliged to store your coins in a wallet after buying them, but we recommend it if you want to keep yourself safe. We’ll discuss cryptocurrency wallets in a little more detail in the next section.

Keeping your login details safe:

  • Even if you take all the necessary precautions to protect yourself when buying Stratis, it means nothing if you let others know your login details. Keep this secret, and if you think that someone else knows them, you must get them changed as soon as possible.

Researching common scams:

  • Many people who are scammed could have avoided this from happening if they had done some due diligence and prior research. Before buying Stratis — or any cryptocurrency, for that matter — we recommend that you read up on the most common scams and identify their signs.

How to Store Stratis?

We recommend that you store your STRAX in a crypto wallet to keep them safe. If you don’t, a cybercriminal could take them from your exchange account — and you’ll have a difficult time getting them back.

Below is a brief explanation of the different kinds of cryptocurrency wallets available.

Software wallets:

  • Software wallets are also known as “hot wallets” and are a convenient place to store your Stratis coins after buying them. You’ll need to sign in online or through an app to access your money; when you’re not using them, they’ll be stored in a blockchain.

Hardware wallets:

  • Another way to keep your STRAX is by using a hardware wallet. Your coins are still stored in a blockchain, but you’ll need to verify your transactions offline. As a result, you’ve got an extra layer of security.

How to Sell Stratis?

When you want to sell your coins, you’ll find a couple of options for doing so. To help you make the best choice, we’ve listed these below.

Exchanging for other cryptocurrencies

  • One of the simplest ways to sell your coins is by exchanging them for another cryptocurrency. You can do this via your wallet; choose another currency and perform the necessary action. This is useful if you use a crypto exchange that doesn’t let you sell Stratis, as you can sell your exchanged currency there instead.

Centralised cryptocurrency exchanges

  • If a centralised cryptocurrency exchange lets you buy Stratis, you can also sell using the same platform. After moving the coins from your wallet back into your account, submit a selling order.

Decentralised cryptocurrency exchanges

  • An alternative to centralised cryptocurrency exchanges is to use a peer-to-peer (P2P) marketplace instead. You’ll sell to another user on these platforms — and the intermediary will only get involved if there’s a dispute.

Is It Worth Buying Stratis Right Now?

When buying any cryptocurrency, it’s important to remember that the market is volatile. As a result, making a purchase carries risks.

Stratis has gained some traction in 2021 but is still a little way off where it was back in 2017. The biggest challenge for Stratis now is that various other blockchains are doing the same thing as it does, which will make it difficult to stand out.

Final Thoughts

Stratis is an altcoin that has gained the attention of several crypto enthusiasts. The coin is a little trickier to find than others like Stellar Lumens, but you’ve still got a variety of choices. We recommend using a cryptocurrency exchange to buy STRAX and funding your account with another cryptocurrency.

FAQs

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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.