How to buy NuCypher (NU) in Australia
A beginner's guide to buying and selling NU in Australia.
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How to buy NuCypher
Look for an exchange that supports both fiat and cryptocurrency to simplify buying NuCypher.
- Open an account on an exchange that supports NU.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy NuCypher.
- Buy NuCypher.
Complete your NuCypher purchase and then find the best wallet to store NU.
What is NuCypher?
NU is the native token of the NuCypher network, along with being the utility token of the ecosystem. NuCypher offers a decentralised encryption, access control and key management system (KMS) for blockchain networks. Holders of the NU token get the right to run a node on the network. Users can only run a node by staying online accessible to users and staking a particular amount of native tokens on the network as a collateral. The token model of NU is designed in a way to offer low liquidity so that users would stake tokens for longer terms, rather than using it as a speculative trading asset. NuCypher was founded by MacLane Wilkison and Michael Egorov in 2015, although they did not tokenize it’s data encryption layer till December 2017, when they launched NU as a Simple Agreement for Future Tokens (SAFT) selling 31% of the initial token supply for nearly $4.4 million in what’s also known as a token pre-sale.In October 2019, NuCypher sold another 8% of it’s token supply through another SAFT to raise $10.7 million.
NuCypher (NU) is the 223rd largest cryptocurrency in the world by market cap, valued at $168,808,386. The current price of NuCypher is $0.310315, which is -0.243% lower than yesterday. Prices have ranged between $0.327062 and $0.291727 over the past 24 hours. All prices are listed in US dollars and accurate as of June 14, 2021 12:06 UTC.
Where to buy NuCypherFind an exchange to buy, sell and trade NU by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
NuCypher at a glance
|Total NU supply||3,885,390,082|
|All time high||US$1.10|
|All time high date||February 22, 2021|
|Notable team members||Mikhail Egorov, MacLane Wilkison|
|Token uses||Staking, mining rewards, platform fees|
NuCypher price performance over time
How to sell NuCypher
You can cash out your NU with the same exchange you bought it through:
- Sign in to the exchange you have NU on.
If you store your NuCypher in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of NU you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of NuCypher.
What to consider when buying cryptocurrencyBuying cryptocurrency can be a risky endeavor, but there are precautions you can take to help mitigate risk:
- Don't FOMO buy coins: Spend time researching a coin before you decide to invest, particularly if the coin's price is spiking for seemingly no reason.
- Stick with well known exchanges: Unless you're an experienced cryptocurrency trader, stick to more well known crypto exchanges to help avoid the possibility of losing your money in a scam. When possible, store your crypto on a hardware wallet instead of on an exchange.
- Look into the coin's founders and developers: Anonymous teams are often a red flag, so if you can't find details on the creator of the coin you may want to consider investing in a different cryptocurrency.
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