How & where to buy Gravitoken (GRV) online
The development team behind Gravitoken claims the price of each GRV token will eventually hit $1,337,000. This guide explains how you can get involved and assesses the credentials of this cryptocurrency project.
What are the best exchanges to buy GRV on?Copy link to section
Unfortunately, it’s not possible to buy Gravitoken on an exchange like Binance or FTX yet. That means you can’t buy it with a fiat currency like GBP or USD. Don’t worry, though, as this is often true of smaller altcoins and there is another way to buy.
The alternative is to buy another cryptocurrency first and then ‘swap’ it for GRV (swap is a fancy word for ‘buy’ in crypto) on a platform like PancakeSwap.
This is relatively simple to do, it just adds a couple of steps to your normal buying process. Below is a quick guide that explains how to do it.
How to buy Gravitoken online – a step-by-step guideCopy link to section
Step 1. Find an exchange and buy BNBCopy link to section
The best cryptocurrency to use in a swap for GRV is Binance coin (BNB). The best place to get BNB is on Binance; it’s a beginner-friendly exchange with a huge range of coins available. We recommend you sign up to Binance and create an account.
Follow the registration process to set up your account and then provide a form of ID to complete the registration. Deposit a currency like GBP or USD before making your purchase.
Step 2. Transfer BNB to a crypto walletCopy link to section
To swap your new cryptocurrency for GRV, you have to move it from the exchange into a crypto wallet. Moving crypto into a wallet is like withdrawing money to your bank account in order to spend it on another website.
The best wallets to use are MetaMask or Coinbase Wallet. These are free and are compatible with PancakeSwap. Each wallet has a unique blockchain address, and you use that to send money from your exchange to the wallet. To find your address, look for a long string of numbers that may be alongside a QR code. In the example below, click the highlighted area to get your wallet address.
On the withdrawal screen of your exchange account you need to enter the wallet’s unique address. When you press withdraw, the money is sent to your wallet and is ready to use on PancakeSwap.
Step 3. Go to PancakeSwap and connect your walletCopy link to section
Go to the PancakeSwap website and choose the ‘Connect Wallet’ option on the home page. On the pop up screen, select your wallet from a list of compatible services. Now you’re able to access the money in your wallet and use it in a swap for other tokens.
Step 4. Swap BNB for GRV tokensCopy link to section
Select BNB from the first list of drop down options and Gravitoken (GRV) from the second. Choose how much BNB you want to swap and the exchange shows how much GRV you will receive in return. Place the order and, once it goes through, the GRV is transferred straight into your wallet.
And that’s all there is to it. Sign up to Binance to get started, and the rest of the process is fairly straightforward. This is standard practice for every crypto investor who wants to buy a smaller or lesser known altcoin.
How to trade GravitokenCopy link to section
Trading Gravitoken is very similar to the process for buying and selling that’s explained above. That’s because a platform like PancakeSwap is the only place to buy and sell it, and you can’t use a regular crypto broker like eToro.
The main difference is that trading relies on studying price charts and using analysis tools. Because these aren’t available on PancakeSwap, you need to use a charting service like TradingView to monitor price fluctuations .
Here is a quick guide on how to trade Gravitoken that explains everything else you need to know:
Step 1. Find a brokerCopy link to section
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.
In this case, the only way to trade Gravitoken is through PancakeSwap or a similar platform. Follow the steps in our buy guide to learn how to make a purchase.
Step 2. Learn how to perform technical analysisCopy link to section
If you want to trade effectively, it is crucial you have a working knowledge of technical analysis. This involves studying price charts to identify patterns and trends, and using the information to try to predict how the market is going to behave.
Your analysis is how you decide when to buy or sell a coin. It’s why it’s very important to find a website where you can examine price charts, explore different technical indicators, and draw your own conclusions.
When trading Gravitoken, you need to use the price chart that corresponds with the coin you used to buy it. In the example above, that coin is BNB, so use the BNB/GRV chart. There are many different trading strategies, so spend time researching one that works well for you.
Step 3. Start tradingCopy link to section
Before you trade with real money, most brokers offer a practice account that allows you to learn the ropes before you start 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?Copy link to section
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.
Still undecided?Copy link to section
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.
ProsCopy link to section
- 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?Copy link to section
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?Copy link to section
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?Copy link to section
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 >