How to buy Vulcan Forged (PYR) in Australia
Learn how to buy Vulcan Forged (PYR) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy Vulcan Forged
1. Compare crypto exchanges
The easiest way to buy Vulcan Forged is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.
4. Buy Vulcan Forged
You can now exchange your funds for Vulcan Forged. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Vulcan Forged to your personal wallet.
Where to buy Vulcan Forged in Australia
Find an exchange to buy, sell and trade PYR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Vulcan Forged
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Vulcan Forged.
- Compare cryptocurrency exchanges that support PYR.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- 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 Vulcan Forged.
- Buy Vulcan Forged.
Complete your Vulcan Forged purchase and then find the best wallet to store PYR.
What to consider when buying Vulcan Forged
All altcoin investments should be considered for potential upsides and potential downsides. It is, therefore, crucial to evaluate both the token and associated protocol. Here are a few factors to consider before investing in PYR:
- Gaming ecosystem: Besides VulcanVerse, which was created by developers behind the Vulcan Forged platform, community members have gone on to launch additional native games. Native games include Block Babies, GeoCats, Vulcan Chess, Forge Arena, and Coddle Pets. The adoption by community members is encouraging to see and the variety of games may attract more users in comparison to other GameFi platforms that focus on one genre of game.
- Staking rewards: Users can stake PYR tokens in the native Myforge wallet to earn LAVA rewards. The longer that a user stakes, the more rewards that are generated.
- Land staking: Users can also level up pieces of land within the VulcanVerse by staking PYR tokens. If tokens remain staked, VulcanVerse land will retain its associated level. If PYR tokens are removed, a user’s land will revert back to its previous level. As the adoption of the VulcanVerse increases, the demand for PYR could grow accordingly as more users seek to upgrade parcels of digital land.
- Scalability: Vulcan Forged and the PYR token run on Ethereum’s layer-2 scaling solution network, Polygon. The use of Polygon’s infrastructure means players can enjoy fast and cheap transactions whether in-game or in the native marketplace. Quick and low-cost transactions are crucial to the wider adoption of a gaming protocol.
- Centralised governance: The Vulcan Forged ecosystem is currently run and operated by a private organisation based in Singapore. The entity has not yet made any announcements to suggest that a decentralised autonomous organisation (DAO) could be created in the future to surrender control. The platform will likely remain centralised for the foreseeable future.
- Token supply: PYR has a maximum supply of 50 million tokens. 20 million tokens were released via an initial liquidity offering (ILO). A further 10 million will be released gradually over a four-year period to reward pools. A further 14.5 million will act as a reserve and will remain locked for several years. The team behind the project is set to take 2.5 million of the PYR supply, which will be released gradually over 10 years starting in March 2024. This slow-release should ensure that significant selling pressure does not enter the market at any one time.
- Competition: GameFi – the combination of decentralised finance (DeFi) and gaming - is one of the hottest sectors in crypto. As a result, there is no shortage of competitors for Vulcan Forged - both old and new. Vulcan Forged will need to compete with projects such as Gala Games, Enjin, Axie Infinity, and MOBOX.
How to sell Vulcan Forged
You can cash out your PYR with the same exchange you bought it through:
- Sign in to the exchange you have PYR on.
If you store your Vulcan Forged in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of PYR you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Vulcan Forged.
Disclaimer: Cryptocurrencies, including Vulcan Forged, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of PYR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Vulcan Forged or any other cryptocurrency discussed.
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