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How to buy Stratis coin online
On this page, we provide a wide variety of information to aid your Stratis investing experience. Scroll down to find out about the project’s potential, whether now is a good time to invest, and what considerations you should make based on your own financial goals.
Compare where to buy Stratis Coin, and open an account
Finding the right trustworthy trading platform that works for you can be difficult given the wide variety of options on offer. To help you out, we have listed some of the best places to buy Stratis crypto online in the table below. Click on one of them to check it out, or read on to discover more about Stratis.
How to buy Stratis online – a step-by-step guide
Step 1. Find an exchange
If you want to purchase Stratis coin outright, and you want to do so quickly and easily, finding a cryptocurrency exchange to execute your transaction may be the right way to go. Exchanges are online platforms that are effectively giant marketplaces for cryptocurrencies to be bought and sold. Most have favourable fee models and support a wide variety of digital assets, making it simple to gain price exposure to your chosen crypto asset.
To save you from searching for an exchange that suits your needs, we have listed two of our picks below along with a quickfire description of what they have to offer:
- Binance: As the largest exchange around, Binance supports a whole host of crypto assets and has an excellent customer support team, which is always ready to deal with your queries. Open an account with Binance >
- Bittrex: With hundreds of supported cryptos and many supported deposit methods, Bittrex is a beginner-friendly platform that makes it easy to jump in and get involved straightaway. Open your own Bittrex account >
Step 2. Sign up and fund your account
Now you have selected the exchange you want to use, it is time to create your own account. Do this by completing the sign-up process and filling out the required contact details when you are prompted. In addition, most crypto exchanges require you to provide a copy of your photo ID to verify who you are, so make sure you have a scan on hand to save you from any disruption.
Then, you need to fill your account with funds to bankroll your purchases. Most exchanges now accept fiat money deposits via a bank transfer, though this wasn’t always the case, and some exchanges still require you to make a deposit in the form of Bitcoin or Ethereum. However, this is increasingly rare for centralised exchanges.
Step 3. Purchase
Now it’s time to complete the task this entire process has been working up to: purchasing STRAX coin. To do this, click on the search tab in the interface of your chosen exchange, and search for Stratis coin by its market denotation, STRAX.
You then need to make sure you have chosen the relevant asset pair based on the funds in your account. So, if your account is full of USD, find the STRAX/USD pair, whereas if your funds consist of a crypto like Bitcoin, look for the STRAX/BTC pair.
Finally, enter the number of coins you want, check you are happy with the price and incurred fees, and then pull the trigger. You now own Stratis coin!
Step 4. (Optional) Get a suitable wallet
If you want to trade Stratis, a wallet won’t be necessary. However, if you plan on holding coins to speculate on their future value, and you want to keep them secure, opening a wallet is definitely something you should consider. They come in both software and hardware form, and they are designed to provide a layer of security between your crypto assets and threats like online theft.
As the multicurrency wallet market expands, it is becoming easier to find wallets that work with less established currencies as well as the likes of Bitcoin and Ethereum. Here are two of the best Stratis wallets:
- CoolWallet: We are big fans of CoolWallet because it is a hybrid wallet. This means that your coins are stored completely offline in a physical storage device, but you are also able to access and manage them via a mobile app. Join CoolWallet today >
- Freewallet: Flexbility is at the heart of our favourite crypto wallets, and that is why Freewallet is one of our top picks. It allows you to manage your cryptocurrencies via a web browser, desktop app, and a mobile app. Open a Freewallet now >
How to trade Stratis – a step-by-step guide
Step 1. Find a CFD broker
The first step to trading STRAX is selecting a cryptocurrency broker that works for you. These platforms allow you to quickly purchase and sell cryptocurrencies with minimal fees, and the vast majority of them are strictly regulated. Below, we have listed our two favourites right now:
- eToro: As one of the world’s most popular online brokers, eToro has become something of a household name for cryptocurrency traders. Create an eToro account today >
- Capital.com: Capital.com has the tools and features to enhance anyone’s cryto trading experience. In addition, the customer support is extremely strong. Create a Capital.com account now >
Step 2. Deposit money
Now you have chosen a broker you need to put down an initial deposit before you can begin trading. Some brokers accept fiat money while others require cryptocurrency, so 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 be a probable trader, it is integral that you have a grasp of technical analysis. This is the process of reading price charts to identify trends and adjust your trading behaviour as a result. If you haven’t heard of technical analysis before, don’t worry; our short-term trading course provides a great overview of the subject, and by the end of it, you will have a firm grasp of the key concepts you need to understand.
Step 4. Start trading
Before you start staking real money, reputable brokers offer traders the chance to start with a demo account before they start actually trading with a live account. Even if you’re not a beginner, this is a great opportunity to have a look around and get a feel for the platform. Cryptocurrencies are typically highly volatile – a characteristic many day traders look for – which means it’s easy to win and lose money very quickly.
Regardless of which broker you’re with or whether you’re using a demo or live account, the idea remains the same: the trader takes a position on the price of a cryptocurrency. If they think it will rise, they take a long position (buy) and if they think it will go the other way, they take a short position (sell).
You may also choose to add leverage to your strategy. Leveraged trading allows you to put up a fraction of a trade’s worth (known as a margin) which means you can significantly ramp up your potential earnings and losses. Please bear in mind this is high-risk, so make sure you have stops in place in case things don’t go your way and steer clear entirely if you don’t have a wealth of trading experience.
Should I invest in Stratis?
Before we delve into the specific investment credentials of Stratis, it is important to take an overview of the wider cryptocurrency market. When prices are rising across the board, this is known as a bull market. By contrast, when prices are trending downwards, this is called a bear market. So, in bullish conditions, the majority of major crypto projects – including Stratis – are likely to perform well. However, when a bearish period is afoot, it may be best to avoid Stratis since its price will generally decline.
In addition, when making any investment, it is paramount that you don’t spend money that you can’t afford to lose. So, if you plan on funding your trades with disposable income, and you are mentally prepared for capital loss, this is fine. However, if you are risking money that you need for an essential purpose, or if you can’t handle the psychological impacts of losing money, you shouldn’t invest.
On the whole, Stratis is an up-and-coming platform with some serious competition, such as Ethereum. It is popular amongst the developer community, and its proof-of-stake consensus mechanism makes it more energy-efficient and environmentally friendly than other coins. If you think Stratis can be a gamechanger for businesses seeking to leverage the power of blockchain technology to make life easier, it is rarely a bad time to put your money where your mouth is.
If you still haven’t decided if Stratis is a cryptocurrency that interests you, check out the pros and cons below, which summarise the information we have covered so far.
- STRAX is not as widely available as some other cryptocurrencies
- Uses proof-of-stake concept
- Relatively new but promising
- Developer-friendly platform
Before we conclude this guide, we have a few more questions and considerations to cover. Scroll down to find out what they are before you invest in Stratis.
1. Is now a good time to buy Stratis?
This really hinges on whether you want to hold it for a while to speculate on its future value or trade it quickly in an attempt to accelerate your returns. If you plan on holding it for the long term, the eco-friendly nature of the platform and its developer-friendly credentials could lead STRAX towards price accretion. Therefore, if you believe in the Stratis platform’s credentials, it is rarely a bad time to get involved.
For traders, you won’t be holding STRAX coin for very long at any given time, so its fundamental appeal is far less relevant. Instead, you should shift your focus towards technical analysis. By reading charts effectively and spotting indicators, you can be one step ahead of the rest of the market, and this information will allow you to recognise when it is a good time to invest.
Whatever route you choose to go down, our analysts can help inform your strategies. Check out any of the articles we have linked below for an insight into how STRAX is performing and what the future is likely to hold.
2. What problem does Stratis solve, and what are its investment prospects?
It makes blockchain technology easy to implement for businesses. In addition, it allows for services across various spaces to be knitted together by a new and versatile digital economy, powered by the STRAX token. Finally, it empowers and emboldens blockchain developers to create the next generation of innovative decentralised apps (dApps).
However, while its credentials on paper are strong, the main issue with this project is the level of competition on offer. Stratis needs to attract the best developers to its network to stand out, and with powerhouses like Ethereum taking most of the limelight, Stratis is currently a promising project that is well in the shadow of the true crypto behemoths.
If you want to find out the latest news and developments surrounding Stratis and its progress to becoming a go-to developer destination, check out the news articles that are linked below.
Stratis announces plans to launch an artist-focused NFT platform
3. Do you want to hold Stratis for the long term?
Sometimes, it is good to hold a cryptocurrency for the long term to achieve maximum returns. By contrast, other times it is the best move to dip in and out of the market for expedited returns. Here are the different considerations you should make for each of these two strategies.
Considerations for a long term investment strategy
The key thing when investing in STRAX for the long term is to find a reliable crypto exchange to purchase coins. Then, think about what kind of wallet you may want to open to store your new coins securely.
Considerations for a short term trading strategy
A short-term approach revolves around technical analysis, so make sure you master this and focus on finding a low-fee crypto broker to execute your trades quickly, easily and inexpensively.
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 >