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How to buy Chia (XCH) online
This page covers every piece of information you need to invest in Chia coin. We start by providing a list of the best places to buy Chia, before delving into a step-by-step breakdown of the entire process. Read on to get started.
Compare where to buy XCH, and open an account
The platforms below offer an easy way to gain exposure to the price of XCH with minimal fees. Click on one of the options to sign up, or keep scrolling for more on purchasing Chia.
How to buy Chia online – a step-by-step guide
Step 1. Find an exchange
By far the easiest way to get some Chia tokens is signing up to a cryptocurrency exchange. XCH is available on a wide variety of exchanges, but we feel the two platforms we have linked below are the best options:
- Huobi: An easy-to-use exchange, Huobi Global is a platform that is popular for experienced crypto investors and newbies alike. Open an account with Huobi >
- KuCoin: KuCoin delivers the powerful tools of a high-end exchange through an interface that is simple and fast to navigate. Sign up to KuCoin today >
Step 2. Sign up and fund your account
Before you use either of the exchanges we have listed in the section above, you need to create an account. To do this, fill out the contact details that are requested from you and send over a scan of one form of photo identification. Then, fund your account via a bank transfer or cryptocurrency wallet deposit.
Step 3. Purchase
Now your account is set up and your preferred funding method has been accepted, you can start purchasing Chia coin. To do this, search for the coin by its ticker, XCH, enter the number of coins you want and then execute the transaction. However, be sure to check you are happy with the market price and any incurred fees first.
Step 4. (Optional) Get a suitable wallet
If you intend to trade XCH, then skip ahead to the next section. However, if you want to invest for the long term, it might be a good idea to open a cryptocurrency wallet to store your funds. Here are two of the best wallets to store XCH:
- Infinito Wallet: Backed by an experienced team of blockchain experts, Infinito is quickly becoming one of the most popular wallets on the market. Get an Infinito wallet >
- Freewallet: One of the most used crypto wallets around, Freewallet is a strong option regardless of how much experience you have. Open a Freewallet today >
How to trade XCH – a step-by-step guide
Step 1. Find a broker
Trading a cryptocurrency is most easily accomplished through an online broker because your orders will be executed quickly. In addition, brokers tend to offer low trading fees.
Step 2. Deposit money
Brokers typically accept funds via a bank transfer, though some even accept PayPal. In addition, a few brokers allow you to deposit cryptocurrency. You need to deposit funds before you can start trading.
Step 3. Learn how to perform technical analysis
You can’t expect to make consistent returns unless you have a strong technical trading strategy; this is the process of reading price charts and analysing market data to identify trends and make predictions. Our short-term trading course is a great place to establish a foundation of knowledge.
Step 4. Decide whether to go long or short
You can either go long or short when trading Chia. Going long means you believe XCH will rise in value, whereas going short means you believe it will fall in value. This means you can make money when the market moves in either direction. Ensure you familiarise yourself with long and short positions before you start trading.
Step 5. Make the trade
Now you have completed the previous four steps, you can go right ahead and start trading XCH. However, most traders benefit massively from using a demo account to practice their strategies before risking real capital.
Should I invest in Chia?
If you believe in the technology and think the team can pull this off, Chia could be a worthy addition to your investment portfolio. The blockchain project has a custom-designed programming language called Chialisp, and it uses this to create a more energy efficient hybrid system, known as proof-of-space-and-time (PoST).
Established in 2017, the main target demographic for the company is businesses, with the security of the Chia blockchain remaining paramount at all times despite energy conservation. Chia raised $61 million in funding in May 2021 with the participation of Andreessen Horowitz, Slow Ventures, Naval Ravikant, Galaxy Digital and other prominent names and brands.
There are plenty of rivals – including Solana and Polkadot – so you should only invest if you believe the Chialisp technology can set Chia apart and allow it to establish itself in a rapidly evolving market.
Here is a summary of the pros and cons of Chia, followed by some key questions to think about.
- Energy efficient blockchain without compromising on security
- Led by an experienced team including a former NASDAQ CEO
- Faster than some rivals
- Has already secured funding from major strategic partners
If you still aren’t sure about investing in Chia, here are 3 important questions.
1. Is now a good time to buy Chia?
That depends on the current price of the asset. If you are investing for the long term, this means you feel the price of XCH will rise over time. Therefore, investing now could make sense ahead of price accretion. Just make sure you do your due diligence before pulling the trigger on an investment.
For short-term traders, wether or not now is the right time to purchase XCH depends on behaviour of the market. To gain a read on this, conduct in-depth technical analysis and get to grips with the way the market functions.
Make sure you check out our recent analyses on Chia coin by clicking on any of the links below.
2. What problem does Chia solve, and what are its investment prospects?
Chia is a blockchain that is ideal for big business, and it manages to reduce energy consumption, creating benefits for both environmental factors and operational cost. In addition, it does not compromise on speed or security.
The platform is complex in nature, and so it is relying on loyal members of the crypto community taking an avid interest in it. Otherwise, the project could be overshadowed by its bigger layer-one rivals.
Make sure you read our news team’s latest articles on the Chia cryptocurrency by clicking on any of the links below:
Is Chia Coin a hot investment right now?
3. Do you want to hold Chia for the long term?
If you want to hold Chia for the long term, there are some important considerations to make. However, if you would rather trade the coin, there are other different considerations to ponder. These are outlined below.
Considerations for a long term investment strategy
If you want to get your hands on some XCH to speculate on the value of the coin in the long term, find an exchange and sign up. Then, consider getting a crypto wallet to store your funds securely.
Considerations for a short term trading strategy
If you are more focussed on the short term, find a broker with low fees and sign up. Then, you need to figure out whether you want to go long or short, and you need to master the process of technical analysis.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >