The NEAR protocol aims to provide a platform for creating decentralized applications. It is therefore positioned as a competitor to solutions like Ethereum, Solana, Avalanche, or Cosmos. Do you think NEAR is undervalued or has what it takes to make a name for itself in the field? We explain to you below which crypto platform to invest in and how to buy NEAR, the token specific to the protocol.
Where to buy NEAR tokens, on which site?
Before explaining the few steps to follow to buy NEAR cryptocurrency, you may be wondering which platform to go through to make such an investment.
This is good since we had the opportunity to test more than a dozen cryptocurrency exchange platforms. We are therefore rather well placed to give you an objective opinion and encompassing a vast majority of the options that exist.
So which cryptocurrency exchange site should you choose to buy NEAR? In our opinion, Binance is the best choice to make.
It must be said that this platform has the advantage of offering the greatest diversity of crypto-currencies. By opening an account on Binance, you will find hundreds of different digital assets. And new assets are added regularly.
Now that’s not the only thing that makes Binance the best choice for buying and trading NEAR crypto.
Binance has quite a lot going for it. This includes low trading fees (maximum 0.1%), the ability to save cryptocurrencies through staking (a concept that helps secure protocols that rely on Proof-Of-Stake), or yet to buy NFTs.
The online broker also offers some features that are out of the ordinary. For example, we can cite its Launchpad system (to invest before a lot of people in new crypto-currencies), the possibility of using a Visa bank card stamped “Binance” to pay for daily purchases, or even the fact of be able to make a loan directly from the platform.
As you will have understood, you will not miss anything by opting for Binance.
How to buy NEAR cryptocurrency: tutorial
Now for the serious stuff. Through the following four steps, we will help you buy NEAR tokens, the digital asset specific to this protocol.
Have you ever invested in a cryptocurrency? No problem. You will still be able to complete the steps presented below.
1) Open an account on Binance
Opening an account on the Binance platform is logically the first thing you will have to do. Without it, you simply cannot invest in the NEAR protocol.
To be taken directly to the account creation form, you can click here:
Create an account on Binance
Binance asks for very little information in order to make opening an account quick. You will need to enter your country of residence, give an email address, then define a secure password. Following this, Binance will send you a code by email that you will have to copy/paste to validate the process.
Once your account is open, you will still need to verify your identity. This is a prerequisite in order to be able to fully use the Binance service… and therefore to buy NEAR tokens.
Identity verification requires you to provide some information about yourself as well as proof of address and a copy of your identity document. Binance being a reliable broker, it must do so to meet the requirements of the authorities that regulate the financial markets.
2) Make a deposit of funds
The second step of our tutorial is to deposit funds into your Binance account. Without funds, you will not be able to buy NEAR.
Binance offers its customers different methods to deposit funds securely:
- Bank card
- Bank transfer (via one of its partners: Advcash)
- P2P bank transfer
After choosing the method that suits you, provide the information necessary to execute the deposit.
Our advice if you want to be able to buy NEAR quickly, is to deposit funds by credit card. In this case, you will actually have direct access to your funds, which will give you the opportunity to invest in just a few minutes.
Buy NEAR on Binance
3) Convert Euros to USDT
To buy NEAR tokens on Binance, you are going to need USDT. As a reminder, USDT is what is called a stablecoin. It is a stable virtual currency that is backed by the value of the US dollar. As a result, its price is almost always equivalent to $1.00.
Why are you going to need USDT? Because Binance does not offer a trading pair to exchange euros against NEAR tokens.
Binance offers the possibility of making a Euro <> USDT conversion from its “Convert” section (visible in the “Trader” menu of its website).
From the conversion interface, you will only have to fill in the amount of euros that you want to exchange for USDT. Binance will offer you a conversion rate and if it suits you, you can validate the transaction.
4) Buy NEAR cryptocurrency
Now that you have USDT in your possession, you will be able to buy NEAR tokens.
To do this, go to the “Trader” menu and click on the “Markets” option. You will thus have access to all the markets and trading pairs available on Binance.
Do a search for the cryptocurrency NEAR (1), then filter the whole by clicking on “Spot Markets” (2) and finally “USDT” (3). To the right of the line that corresponds to the NEAR/USDT trading pair, tap on the text “Trader” (4):
Binance will redirect you to its trading interface. It is from this that you can both buy and sell NEAR tokens.
From this interface, the first thing to do will be to select the type of buy order to place. Binance offers the following options: Market (buy at the market price), Limit (buy at a limit – that is to say that you define a price per token NEAR that must not be exceeded), or Stop-Limit.
Buy NEAR tokens here
Unless you have trading experience, you can skip the last option mentioned, Stop-Limit.
The Limit order seems to us the most suitable to avoid the volatility of the price of crypto-currencies. Indeed, unlike the market price order, you will be able to define a maximum unit price that must not be exceeded (so as not to buy the crypto NEAR more expensive than expected).
After that, fill in the number of NEAR tokens to buy or the amount of USDT you want to invest. Validate your purchase order by clicking on “Buy NEAR”.
Following this, as soon as your buy order has been filled, Binance will notify you. It may take a few seconds to a few minutes depending on market movements.
Buy NEAR by credit card: how to do it?
Does the tutorial we have just presented to you scare you a little? Do you want a really simple solution to buy NEAR tokens? Binance has thought of everything.
It is indeed possible to buy crypto by bank card. This will take place as for a purchase on a classic online store. Suffice to say that it is truly within everyone’s reach. The only thing you will need is a Binance account and a bank card.
Warning : This method has a disadvantage compared to the one presented previously: the unit price of each NEAR token will be a little higher than the market price. Indeed Binance takes a small margin at this level.
Once logged into your account on Binance, you will need to go to the “Buy Cryptos” menu (visible at the top of the page) and then click on the “Credit/Debit Card” option.
As you can see from the screenshot below, all you have to do is select the currency you want to pay with, choose NEAR as the cryptocurrency to buy, then click on the “Continue” button .
Buy NEAR on Binance
Following this, you will only have to confirm the payment by giving your credit card information. A few seconds after validating your purchase, you will receive the NEAR tokens in your Binance wallet.
You can then very well store them directly on Binance or on a crypto wallet. It’s for you to see.
What is NEAR and what is the purpose of its token?
As a conclusion to this article detailing how to buy the NEAR cryptocurrency, we would like to tell you a little more about the protocol but also about its dedicated token.
NEAR was created by Erik Trautman, Illia Polosukhin, and Alexander Skidanov. NEAR is a first layer blockchain (Layer 1).
Like a lot of competing projects, NEAR’s objective is to solve the problems of high costs, to improve the management of a large number of transactions per second, but also interoperability.
NEAR actually wants to be able to propel decentralized applications accessible to everyone. What else should I know about this project? NEAR uses technologies called Nightshade (a variation of the principle of sharding or bursting in French) and Doomslug (a derivative of the Proof-Of-Stake consensus) in order to function and ensure its security.
It is also worth noting that unlike Ethereum and many other blockchains, NEAR uses addresses that are human readable.
The NEAR token is used for various purposes. It allows you to participate in the governance of the protocol (through votes open to all holders of this digital asset) as well as in its security (via staking, the cornerstone of the Proof-Of-Stake mechanism). The NEAR token is also used as virtual currency when you have to pay the fees related to the use of an application running on this protocol.
In terms of the economy related to the NEAR token, here is some information you need to know. The first is that not all NEAR tokens are in circulation yet. The second is that the total supply of NEAR tokens is set at 1 billion units.
Now each year the total supply will increase by 5% in order to continue to reward those who help secure the network (the validators and all those who stake).
Buy NEAR Cryptocurrency