How to start using stablecoins
To obtain your first stablecoins, follow the same process as when obtaining a major traditional cryptocurrency like Bitcoin or Ethereum
Stablecoins are a more stable form of cryptocurrency and are considered ‘safer’ due to less volatility and movement compared to the biggest cryptocurrencies such as Bitcoin and Ethereum.
To obtain your first stablecoins, follow the same process as when obtaining a major traditional cryptocurrency like Bitcoin or Ethereum:
- Create a wallet
- Choose an exchange you wish to purchase the stablecoins from
- Send fiat (or on-ramp) currency from your bank to the exchange
- Swap your fiat into the stablecoin
- Send your stablecoin into your wallet (Or if you want to generate yield with them, read here)
- Process finished
Although the process to purchase most stablecoins are similar, different types of stablecoins exist:
How can I start using GBPT
Our GBPT Nexus guide provides a simple collection of major crypto locations to access GBPT.
Additionally, you can acquire GBPT through OTC trading on bfex.im
What are the pros and cons of investing in stablecoins?
You can find out more about Poundtoken’s own reserves for the GBPT stablecoin here. For more information, visit our complete guide to stablecoins.