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How to buy Gravitoken coin online
The development team behind Gravitoken claims the price of each GRV token will eventually hit $1,337,000. As a result, plenty of investors and traders have been exhibiting an interest. On this page, we explain how you can get involved and assess the credentials of this new cryptocurrency project.
Compare where to buy Gravitoken Coin, and open an account
Click on one of the links below to sign up to one of our recommended partners. These trading platforms offer some of the lowest fees and most user-friendly interfaces on the market. Otherwise, to continue learning about Gravitoken, simply scroll down and read on.
How to buy Gravitoken online – a step-by-step guide
Step 1. Find an exchange
Since Gravitoken is such a new asset, it hasn’t been listed on any major exchanges yet. However, you can still buy GRV through a decentralised exchange (DEX) like Uniswap or SushiSwap. The first step to achieving this is purchasing some Bitcoin or other major cryptocurrency to fund your DEX transactions. Here are two of the best exchanges to purchase Bitcoin right now:
- Binance: As the largest crypto exchange around, Binance makes it extremely easy for people to get some Bitcoin. You can then add this to your wallet, and use it to purchase GRV through a DEX. Open a Binance account today >
- Bittrex: Bittrex is an increasingly popular cryptocurrency exchange that combines a user-friendly interface with advanced tools, making it an ideal choice for beginners and professionals who want some Bitcoin. Open a Bittrex account now >
Step 2. Sign up and fund your account
Now you have selected an exchange, you need to create an account to get started. This process should be explained by a series of on-screen prompts, but for the avoidance of doubt, it typically involves providing some basic contact details and a copy of your photo ID to verify who you are.
Next, you need to add funds before you can get any Bitcoin. Handily, most exchanges now accept a variety of deposit methods, including bank and cryptocurrency wallet transfers, which makes the process flexible.
Step 3. Purchase
Now you have an account that has been validated and funded, you can get the Bitcoin you need to fund your Gravitoken purchase. Simply search for Bitcoin (or a different cryptocurrency) in the interface of your chosen exchange, enter the number of coins you want to own, check you are happy with the price and incurred fees and execute the transaction.
Step 4. (Optional) Get a suitable wallet
With some DEXs, you can load your funds directly into an account. However, not every DEX requires you to complete an account creation process to use it.
Regardless, adding your newly purchased cryptocurrency into a wallet is the easiest way to finance your DEX transactions. Once your funds are in a wallet, you can use them directly via the DEX, or connect the wallet to your DEX account.
Cryptocurrency wallets are quite self-explanatory: they are devices or platforms that allow you to store your coins safely, securely and affordably. Below, we have provided our two top picks along with a brief explanation of what they have to offer.
- CoolWallet: CoolWallet is what is called a hybrid wallet. This means it combines the security of a hardware wallet with the accessibility of a software wallet via a dedicated mobile app. Join CoolWallet now >
- Freewallet: Freewallet isn’t a hybrid, but it is still a flexible crypto storage solution. It enables full control of your coins through a mobile app, desktop app and even your web browser. Create your Freewallet today >
How to trade Gravitoken – a step-by-step guide
Step 1. Find a broker
The most popular way of trading cryptocurrencies is through an online crypto broker. These are regulated services that allow you to quickly open and close positions to take advantage of market volatility, and they generally have low fees.
Gravitoken is not currently available via any broker platform. However, if any broker is likely to list it in the near future, it will be one of the major platforms like eToro or Plus500. As soon as it becomes available, this page will be updated, so make sure to bookmark it. In the meantime, we have explained the steps you will need to follow to get GRV coins through a broker in the future.
Step 2. Deposit money
Once you have chosen a broker, you need to put down an initial deposit before you can commence trading. While most brokers accept fiat money, others require cryptocurrency; make sure you research what deposit methods are available before settling on a platform.
Step 3. Learn how to perform technical analysis
If you want to trade effectively, it is crucial you have a working knowledge of technical analysis. If you aren’t aware of what this entails, our short-term trading course has a dedicated section on the topic. In essence, it is the process of interpreting price charts to predict how a market is likely to behave.
Step 4. Start trading
Before you trade with real money, most brokers offer a practice account that allows you to learn the ropes before you start actually trading. We highly recommend this for beginners, and even if you are experienced, this can be a great way of getting to grips with an unfamiliar broker interface.
Whether you’re using a demo or live account, the concept remains the same: the trader takes a position on the price of an asset. If they believe its price will fall, they take a short position (sell), whereas if they think it will rise in value, they take a long position (buy).
If you want to increase the size of your trade without funding this directly, leverage allows you to loan capital from a broker. However, be extremely cautious of doing this because there are incurred fees and your losses will be magnified if the market turns against you.
Should I invest in Gravitoken?
Before we think about Gravitoken specifically, it is important to think about the broader crypto market. When prices are rising – known as a bull market – altcoins like Gravitoken are likely to perform well, whereas, in bear markets, they can struggle to maintain value. Make sure you identify what cycle the market is in before you invest.
The Gravitoken concept revolves around its supply mechanism, which (it claims) guarantees that GRV will increase in value by a minimum of 9.81% every 8 hours. The coin’s supply is automated so that it constantly buys back tokens and destroys them to reduce supply, while also rebasing (revaluing) the coins that do exist. What that means in practice is the value of your coins go up, but the number of coins you hold goes down.
This is the trick that allows Gravitoken to say it’s always increasing in value. You should only invest if you can afford to lose the capital you have allocated to this venture. Projects like Gravitoken are riskier than more conventional investments, you need to be comfortable with the possibility of losing your money.
If you still aren’t sure if Gravitoken is the right asset for you to invest in, check out the pros and cons below which summarise the information we have covered so far.
- Token promises to ‘DeFi gravity’ via a mathematical guarantee of price increases
- There is a clear and modern community-building strategy that aims to make use of social media
Before we reach the end of this guide, check out the three additional questions we have included below to help round off your knowledge before you invest in Gravitoken.
1. Is now a good time to buy Gravitoken?
If you are planning on holding Gravitoken for the long term because you feel it will reward you with consistent growth on a per-token basis, it is rarely a bad time to invest. When holding Gravitoken for the long term, you are expressing a belief in the prudence of the crypto macro story and the technical engineering of the GRV token.
By contrast, for short-term traders, it may also be a good time to get involved. However, the only way of finding out is by performing technical analysis and working out if GRV is trading at a favourable price for your strategy. When trading GRV, you are much less interested in the fundamentals of the coin than you are in market sentiment and trends.
Whatever route you choose to go down, make sure you are informed about all things GRV by reading our latest pieces of analysis below. Simply click on one of them to check it out.
2. What problem does Gravitoken solve, and what are its investment prospects?
Pending regulatory approval, it promises to be the first crypto asset hedge fund. Its price mechanism is unique in the cryptocurrency space and could serve as a solution to the innate volatility of the crypto sector.
However, there are plenty of obstacles in the way. First and foremost, GRV needs to establish a trusting community and prove its tokenomics aren’t a gimmick. Then, it needs to consistently increase its market capitalisation to prove the project has a future of genuine growth on the cards.
Lastly, it needs to achieve approval from the relevant regulators, which in an era when cryptocurrencies are under increased scrutiny by financial authorities around the world could prove to be difficult. Check out any of the pieces below to find out the latest GRV news.
3. Do you want to hold Gravitoken for the long term?
There are two ways you can seek exposure to the price of GRV. You can purchase Bitcoin from an exchange, and add this to your wallet so you can purchase GRV from a DEX and speculate on its long-term value, or you can trade it via a broker (once it becomes available). Below are the different considerations you should make for each of these strategies.
Considerations for a long term investment strategy
If you want to hold GRV for a long period of time in the hope your investment will be rewarded with growth, focus on finding a reliable cryptocurrency exchange to get Bitcoin or another cryptocurrency and adding it to a wallet. Then, you can use these funds to bankroll your acquisition of GRV tokens via a DEX.
Considerations for a short term trading strategy
While this isn’t the case right now, when Gravitoken is listed on a broker – which will happen if it experiences sustained success – you should find a low-fee broker that offers it and work on mastering 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 >