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How to buy EthereumMax online
This beginner’s guide introduces the EthereumMax coin and explains how it works. Learn about its future prospects and compare the best places to get it.
Compare where to buy EthereumMax, and open an account
To get your hands on EthereumMax right away, use one of the platforms below. These brokers are the best around, ideal for beginners and advanced users alike. To learn more about EthereumMax before you start, scroll down to keep reading.
What is EthereumMax?
EthereumMax is a cryptocurrency that’s used as a means of payment, particularly for cultural events like concert tickets or boxing matches. It also promises a reward to anyone who holds the coin, with 2% of every transaction distributed among existing users.
The coin rose to prominence in May 2021 when it was promoted by Floyd Mayweather during his fight with the Youtube star, Logan Paul. It claims to have been the exclusive cryptocurrency of that fight and the only way to buy tickets with crypto, although whether that’s true or not is unclear.
Celebrity endorsements, along with some vague promises about how it works, are a feature of EthereumMax so far. Most notably, Kim Kardashian has been paid to promote it, while it claims to have an NFT marketplace in the works.
How does EthereumMax work?
The simple answer is that we don’t know. There is very little information about EthereumMax out there. There’s no white paper – usually standard for a cryptocurrency where the developers explain how it works – and not much else outside of some splashy social media ads.
That said, cryptocurrencies normally work by recording the movement of coins on a blockchain. The blockchain is like a database that stores the online addresses of everyone who owns coins and tracks money as it moves between them. EthereumMax almost certainly works in a similar way.
How to buy EthereumMax online – a step-by-step guide
Step 1. Find an exchange
The best place to buy EthereumMax tokens is on an exchange platform. Exchanges come with a variety of features but they have the widest range of altcoins and are always the first to add new tokens. A couple of the top exchanges around are:
- Binance: Binance is the biggest exchange in the world and is a great place for any beginner to start. Its academy is packed with information and its ‘lite’ interface is really easy to use. Sign up to Binance >
- Kucoin: Another beginner-friendly platform that comes with a simple interface, Kucoin offers a huge range of coins and tokens, and even more means to swap between them. Join Kucoin now >
Step 2. Sign up and fund your account
In order to use an exchange you have to create an account and provide a form of photo ID. It’s a short and simple process that should only take a few minutes. Then the best way to fund the account is via a bank transfer or a credit/debit card.
Step 3. Purchase
Search for EthereumMax using its ticker symbol, EMAX. The list of pairs that shows up includes all the options you have to pay for the coins. None of them are going to include a fiat currency (like GBP or USD) just yet, smaller coins tend only to be available through another cryptocurrency.
Step 4. (Optional) Get a suitable wallet
The final step is deciding where to store your new coins. You can leave them on an exchange without too many problems, but a crypto wallet is more secure. Wallets come in many different forms and here are two of the best ones around.
- Trezor: Trezor is a hardware wallet that’s shaped like a USB stick. It stores your coins completely offline and you access them by plugging the stick into your computer. Get Trezor today >
- CoolWallet: CoolWallet has a unique take on a hardware wallet as you can manage your money through your mobile phone. The wallet itself is a thin, card-like device, while the mobile app connects to it over bluetooth. Join CoolWallet now >
How to trade EthereumMax – a step-by-step guide
Step 1. Find a broker
To trade cryptocurrency you need to find a broker that charges low fees. To be a good trader, you need to be able to make a lot of moves and high fees can eat away at your capital. At the moment, EthereumMax is too small a coin to be available through a broker but when that changes, the likes of eToro or Plus500 are good places to try.
Step 2. Deposit money
To use a broker you have to create an account and fund it with a fiat currency. Brokers usually charge a fee for deposits (and withdrawals), so it’s important to look at a platform’s fee structure before you sign up. Bank transfers and debit cards are usually the cheapest option, while alternative methods like PayPal might be more expensive.
Step 3. Decide how you’d like to trade
The most common way to speculate on cryptocurrency is with an asset known as a contract for difference (CFD). CFDs represent the price of a coin, and you can buy or sell them depending on how you expect the price to move. The profit you make is the difference between the price on the day you bought and sold it.
Step 4. Start trading
New traders might want to start with a demo account, which is a feature offered by most of the top brokers. Demo (or virtual) accounts let you trade without putting your own money at risk, instead using virtual money to practice and get used to the ebbs and flows of the market.
You should combine your own research with a look at the latest news in order to decide how to trade a coin. That information should influence whether you want to take a long (buy) or short (sell) position in EthereumMax.
Later, as you get more experience, you can introduce alternative strategies in order to try to make more of a splash. The most commonly used is leverage, which is when you borrow money from a broker in order to make trades exponentially bigger than you would be able to otherwise. This is risky though, and your losses can mount up just as fast as wins.
To help you come to a decision over whether EthereumMax is for you, we’ve pulled together all the pros and cons into the table below. After that, read on for a discussion on finding the right time to buy and what the future might look like.
- You can use EthereumMax to pay for event tickets
- There’s the potential to earn interest on the coins you hold
Finally, here are three more questions to help you decide whether to invest in EthereumMax.
1. Is it a good time to buy EthereumMax?
It might be better to wait for more information before you put money into EthereumMax. However, if you believe in the project or want to use the coins to pay for event tickets (particularly boxing), then it could be a good time to get some.
If you’d rather trade the coins to try to make a quick profit, then the fundamentals are less important. You want to consider the current price and analyse whether you can take advantage of its fluctuations. Below you can find our analysts’ expert advice to help you.
2. What problem does EthereumMax solve, and what are the coin’s investment prospects?
In theory it offers a way to put cryptocurrency to practical use, most notably spending on tickets to sporting events. There isn’t much substance explaining how that’s going to work just yet, though.
Its investment prospects depend entirely on how quickly it releases that substance. The company’s road map includes a lot of steps, like an audit and the white paper, along with an NFT marketplace, that could transform it into a viable cryptocurrency. Until that information comes out into the open it’s hard to judge the project.
For that reason it pays to be cautious. If you do decide to invest, only put a small amount of money into it and pay close attention to the EthereumMax website and social channels so that you know as soon as it releases more details. You can also use our latest news links below to help with that.
Where to buy Ethereum Max: best platforms to trade eMAX crypto
3. Do you want to hold EthereumMax for the long term?
Sometimes that’s the right move, while at others it’s better to get in and out quickly. It depends on your goals and abilities, as well as the state of the market as a whole. Here are a couple of final considerations, depending on which camp you fall into.
Considerations for a long term investment strategy
If you expect the EthereumMax price to keep rising over time, then the best bet is to get some coins right away. Find an exchange to do so and then consider getting a wallet to store the coins.
Considerations for a short term trading strategy
Short term traders don’t need to worry about the fundamental strength of a coin. Instead, focus on technical analysis of the price, then choose a broker that charges low trading fees.
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