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How to buy Tiger King coin online
This guide introduces you to the Tiger King coin, explains what it does and how it works. Then take a look at its prospects and learn where to find the coins.
Compare where to buy Tiger King coin, and open an account
These brokers are the best places to get cryptocurrency right away. You can sign up and get started by using the links in the table below, or scroll down to keep reading and learn more about the Tiger King coin.
What is Tiger King coin?
It’s a cryptocurrency that’s endorsed by the star of the Netflix documentary ‘Tiger King’, Joe Exotic. At the moment the coin is a purely speculative trading asset that wants to raise money to pay Exotic’s legal bills and, allegedly, help fund animal conservation efforts and children’s hospitals.
Launched in the summer of 2021, the coin is mainly a marketing ploy released in response to another cryptocurrency that’s come about as a result of the show. That’s the CAT coin, released by Joe Exotic’s nemesis, and the woman he tried to hire a hitman to kill, Carole Baskin.
Along with the Tiger King coin itself, known as TKING, a CUB coin was launched at the same time. CUB is the one that’s meant to fund donations to local children’s hospitals, but details about how it works and the breakdown of how much is actually going to go towards good causes are thin on the ground.
How does Tiger King coin work?
Like any other cryptocurrency, it works by tracking the movement of money on a blockchain. That’s a public ledger that replaces a central authority like a bank, and is able to approve transactions as well as keep a history of them.
There are few other details about how the Tiger King coin works. We know that it’s deflationary, which means that the overall supply (which started with a trillion coins) will steadily reduce over time. It’s able to achieve this by ‘burning’, or destroying, 1% of the total on every transaction.
There is a roadmap for how the coin might develop in future. That includes things like selling merchandise and non-fungible tokens, which would also go towards Joe Exotic’s defence team. Again, however, details about how it might work in practice are scarce.
How to buy Tiger King coin online – a step-by-step guide
Step 1. Find an exchange
The best place to get Tiger King coin is on an exchange. There are two types of exchange and they are almost always the first place to offer new cryptocurrency coins. There are ‘centralised’ options, which are platforms like Binance, or ‘decentralised’ ones, like Uniswap.
Decentralised platforms are based on the blockchain themselves and have no central body overseeing things. Instead you swap money in your cryptocurrency wallet directly for another coin. They take a bit more knowledge and expertise to use but they offer virtually every coin in existence so make a great choice if you want to find something off the beaten tracks.
When it comes to the Tiger King coin, it’s so new that decentralised exchanges are the only places to offer it. You should try Uniswap, 0x, or the 1Inch exchange. As coins get more popular, the bigger names will add the option to buy and sell it. These are two top platforms that are best to check first because they offer the widest range of coins:
- Binance: Binance is the most popular exchange platform in the world. It offers hundreds of coins and even more different swap combinations, along with an array of beginner-friendly learning material through its academy. Sign up for Binance now >
- Bittrex: Bittrex is another beginner-friendly platform with an array of different coins available. It prides itself on its industry-leading security and instant trading times. Get started with Bittrex today >
Step 2. Sign up and fund your account
If you’re using a centralised platform, you have to create an account and deposit money into it before you can do anything. That’s usually simple and all you need is some contact details and a form of ID. You can then deposit money via a bank transfer or credit/debit card to start trading.
Decentralised exchanges are a little different, as you don’t need to create an account. Instead, you make moves simply by connecting your wallet and deciding how many coins you want to swap. Just make sure that you have a wallet to start with and that it’s funded with the appropriate cryptocurrency. In the case of Tiger King, you can only get it with Ethereum so you need to own some of that first.
Step 3. Purchase
To get Tiger King you just need to search for it using its ticker symbol, TKING, on whichever exchange you decide to use. Then you’ll see the different options you have to buy it. As mentioned above, at the moment the only option is going to be Ethereum.
As long as you own some Ethereum, then you can simply decide how many Tiger King coins you want to get, and then execute the trade.
Step 4. (Optional) Get a suitable wallet
Wallets are like bank accounts for cryptocurrency and are the most secure way to store your new coins. They come in many different forms with a range of different features so you can always find one that suits you. Here are a couple of the best platforms around.
- CoolWallet: CoolWallet is a hardware wallet, which means that it stores your coins on an offline device, but one you can manage through an app on your phone. The device comes in the form of a small, thin card, while the app connects to it via bluetooth. Get a CoolWallet now >
- Ledger Nano S: The Ledger Nano S is another hardware wallet but it’s more like a USB stick and you access the coins by plugging the device into your computer. Even if you connect it to an infected PC, the coins remain completely safe. Sign up with the Ledger Nano S today >
How to trade Tiger King coin – a step-by-step guide
Step 1. Find a broker
To be a successful trader you need to find a broker that charges low fees every time you buy or sell a coin. Trading a cryptocurrency means making a lot of moves over the course of a day in order to take advantage of small price changes and high fees can drain your capital very quickly.
Brokers tend to only offer the leading cryptocurrencies, like Bitcoin and XRP, and a coin has to reach a certain level of popularity before they add it to the range. That means Tiger King isn’t available with any brokers yet. The top brokers who tend to add new coins first are eToro and Robinhood, so they are good platforms to keep an eye on.
Step 2. Deposit money
Before you can trade anything you need to set up an account and fund it. Signing up is easy and usually only takes a few minutes. Deposits are similarly simple, and can be done via a bank transfer or credit/debit card. If you want to make a deposit with a different payment method such as PayPal, it’s best to check if the platform accepts it first and you should be aware that it might come with a fee.
Step 3. Decide how you’d like to trade
The most common way to trade is using contracts for difference, or CFDs. A CFD is a contract that represents the price of an asset and you make money based on the difference in price at the time you bought it compared to when you sell.
CFDs are ideal for short term trading because you never have to take ownership of the coin itself and they’re simply a means of speculation. They’re also useful because you can use them to predict price moves in both directions if you expect a coin to fall in value.
Step 4. Start trading
If you’re new to trading you might want to consider starting with a demo account. This is a feature available in your broker’s settings that lets you switch between real and ‘virtual’ money. It’s a good way to practice and get to know the market without putting your capital at risk.
Whether you’re using real or pretend money, the big decision is how you think a coin is going to perform. Use the latest news and analysis along with your own research to decide if you should take a long (buy) or short (sell) position.
Over time you can add more advanced strategies to this. The most common one is leverage, which lets you make much bigger trades. Leverage can lead to big profits if you get it right but it’s a much more risky approach that can leave you exposed to big losses as well.
Before you take the plunge on Tiger King, here’s a summary of its pros and cons. After that there’s more discussion on what the future might look like and when’s the best time to invest.
- The coin is backed by a famous name with a big marketing campaign
- It’s available cheaply and could rise in value quite a lot
Finally, here are three more questions to help you decide whether to invest in Tiger King coin.
1. Is it a good time to buy Tiger King coin?
It depends on your goals and how long you intend to hold on for. If you have a long term approach and hope to see its value grow over time then it could be the right time to buy, but Tiger King coin is likely to be volatile and quite a risky investment.
That’s not as much of an issue for short term traders. If that’s how you like to deal in cryptocurrency then the most important factors are the current price and your analysis of it. Use charts to predict price moves and indicators to signal the right time to dive in. Or you can use our in-house analysts’ work to help you.
2. What problem does Tiger King coin solve, and what are the coin’s investment prospects?
The broad purpose of Tiger King coin seems to be to pay for Joe Exotic’s legal bills. It’s website makes no bones about that being the main point of releasing a coin and any promises about donations to charity are an afterthought. How the money would be split between bills and charity is left to the imagination.
Its prospects are based entirely on how well its marketing campaigns can generate media coverage. Anything Joe Exotic does tends to make the news and it’s possible it might be able to get enough interest to push the price up for a while.
Realistically, it’s hard to see how this project succeeds in the long term. Unless there were a second series of ‘Tiger King’ – unlikely as the main protagonist is in jail – it’s going to be difficult to sustain interest in this coin. If you want to invest then you should do so in small amounts and with full awareness about where the money is going, and follow the latest news so that you’re on top of any developments.
Where to buy Tiger King coin online: save Joe Exotic & make money?
3. Do you want to hold Tiger King coin for the long term?
There are times when a long term approach is best and others when a short term view is most appropriate. It depends on how active you want to be in managing your investments and how much risk you’re willing to take on. Here are some final considerations for each different type of person.
Considerations for a long term investment strategy
This is the best strategy if you think the Tiger King price is going to keep increasing over time. In that case you should look for an exchange and get some coins straight away. You might also need to get a wallet in order to use the platform and store your new coins.
Considerations for a short term trading strategy
Short term trading is all about studying the Tiger King price and making lots of moves in order to profit from small changes. If this is the way you want to go, then pick a broker with low trading fees and brush up on your knowledge of CFDs to succeed.
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