How to buy Orchid Protocol (OXT) in Australia
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How to buy Orchid Protocol
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Orchid Protocol.
- Open an account on an exchange that supports OXT.
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 Orchid Protocol.
- Buy Orchid Protocol.
Complete your Orchid Protocol purchase and then find the best wallet to store OXT.
What is Orchid Protocol?
Essentially, Orchid is considered a blockchain platform providing users with seamless access to a global, decentralised network of VPN service operators. Alternatively, Orchid serves as a P2P marketplace wherein VPN providers can interact with other users, allowing them to facilitate direct monetary transactions.
OXT is the native token of the Orchid ecosystem and is used to facilitate all money-based processes taking place within the network. For example,OTX can be used to buy bandwidth from various service providers on a “pay for what you use” basis.
Orchid Protocol (OXT) is the 241st largest cryptocurrency in the world by market cap, valued at $286,751,922. The current price of Orchid Protocol is $0.489633, which is 11.591% higher than yesterday. Prices have ranged between $0.511242 and $0.425845 over the past 24 hours. All prices are listed in US dollars and accurate as of October 18, 2021 03:10 UTC.
Where to buy Orchid ProtocolFind an exchange to buy, sell and trade OXT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Orchid Protocol at a glance
|Total OXT supply||1,000,000,000|
|All time high||US$1.03|
|All time high date||April 05, 2021|
|Notable team members||Dr Steven Waterhouse, Jay Freeman, Brian J. Fox, Gustav Simonsson|
|Partnerships||Chainlink, Bloq, PrivateInternetAccess, BolehVPN, VPNSecure, LiquidVPN|
|Token uses||Utility token|
Orchid Protocol price performance over time
How to sell Orchid Protocol
You can cash out your OXT with the same exchange you bought it through:
- Sign in to the exchange you have OXT on.
If you store your Orchid Protocol in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of OXT you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Orchid Protocol.
What to consider when buying Orchid ProtocolInvesting in any cryptocurrency should not be taken lightly due to price volatility. Due diligence on both the platform and tokenomics should always be completed. Here are some things to consider for Orchid:
- Unique Setup: Orchid seeks to play a major privacy-preserving role in Ethereum’s web3 stack. It does so by offering users an incentivized peer-to-peer privacy network — that has been bolstered through a decentralized VPN module — thereby allowing them to gain private access to the world wide web in a highly secure fashion. In terms of payment, users are required to pay Orchid node operators to meet their bandwidth requirements. Similarly, VPN operators using the protocol need to stake OXT tokens in order to sell their bandwidth. Prospective users can view a detailed list of all the available VPN operators using an Ether smart contract.
- Solid backing team. The team behind Orchid boasts of individuals like Dr. Steven Waterhouse, who is the cofounder of Pantera Capital and RPX as well as a board member for prominent cryptocurrency exchange Bitstamp. Other prominent members include Jay Freeman — the man behind Cydia, a market for jailbroken iPhones — and Gustav Simonsson, a digital scientist and ethical hacker who previously worked for the Ethereum Foundation.
- Industry support. Since Orchid Labs’ inception, the team responsible for creating the Orchid protocol has raised money from several mainstream players, including reputable venture capital firms such as Andreessen Horowitz, Sequoia and Polychain Capital. Not only that, the company has also been able to rope in support from numerous high-profile angel investors such as Roger Ver, Naval Ravikant, Gavin Wood and more.
- Limitations. While the idea behind Orchid is quite innovative, some online reviewers report web browsing speeds can drastically dip at specific times, causing a less than ideal browsing experience — especially when streaming high-quality videos or playing multiplayer games online.
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