Built on the Polkadot blockchain, Acala is a promising DeFi platform with a range of innovative features and services. The project is backed by a strong team with solid expertise in the industry. In this article, we'll take you through a step-by-step process on how to buy Acala on Binance and the project's benefits.
Where To Buy Acala?
Some of the most popular exchanges to buy ACA include Binance, Coinbase, KuCoin, and Kraken. When choosing an exchange to purchase ACA, it's essential to consider factors such as fees, security, user interface and supported payment methods. It's also important to note that some exchanges may only be available in some countries or regions.
Step-By-Step Guide On How To Buy Acala :
Follow the below steps to buy Acala using the Binance exchange.
Step 1: Register for a Binance account
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The first step is to register for a Binance account; if you already have a Binance account, you can skip this step.
To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also use the main sign-up with an email or phone option.
After completing this step, you will receive an email confirmation from Binance.
Create an account using your personal phone number or email address on Binance. Registering as an entity if you want to buy Acala as a Limited company business on the Binance exchange is also an option.
Step 2: Verify your identity on Binance
Before you can buy ACA on Binance, you will need to verify your identity. To do this, click the "Profile" button on the top right-hand corner of the page and select "Identity Verification."
Follow the instructions provided by Binance to complete the verification process.
To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.
Step 3: Buy ACA
There are numerous ways to buy Acala on the Binance exchange, and it all comes down to your preference. We will explore some popular methods to buy Acala on Binance.
Option 1: Fund your Binance account with crypto
This method is helpful for anyone who owns crypto on other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Acala with Bitcoin as Binance supports trading BTC/ACA pair.
After verifying your identity, you can fund your Binance account with crypto. To do this, click the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy ACA.
On the deposit Crypto page, choose the crypto (in this case, we selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed, Binance will credit the crypto.
Convert Bitcoin Crypto to Acala (ACA)
After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to ACA.
There are two ways to convert your crypto to ACA: Market order or Limit order.
Buying ACA with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.
Buying ACA with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.
The above screenshot shows an example of placing a limit order to buy Acala using BNB. You can click on the bars icon next to the limit button to display the price chart of your selected crypto convert pair. Click Confirm Order to get 183 ACA tokens into your account.
Congrats! You have now bought Acala by funding your Binance account with crypto and using Binance Convert.
Option 2: Fund your Binance account with Fiat
This option will benefit you if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.
When using the Bank transfer method to fund your account, make sure to follow the below tips:
Your bank account name must match the name registered to your Binance account.
Please include your full name in your bank transfer's Reference/Remark section.
If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.
After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.
As shown above, buy Acala immediately with your preferred fiat currency! You will get an estimated price of ACA based on the currency of choice, and you enter the desired amount of ACA to buy and confirm the order.
Congrats! You have now bought ACA by funding your Binance account with fiat currency and using a Binance Cash balance.
Option 3: Buy Acala with a Credit/Debit Card (Popular method to buy Acala)
To buy ACA on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top navigation menu.
On the buy crypto with card page, you will see various options to choose the fiat currency to buy Acala. Enter the desired amount of ACA tokens to purchase and click Continue.
In the payment method section, if you just created your Binance account, add the card details you will use to purchase ACA.
Once you have entered the card details, you must review the order details to ensure they are correct. If everything looks good, click the "Buy ACA" button to complete the purchase.
Congrats! You have now bought ACA by funding with your Credit/Debit card!
Unlike other tokens, such as Polygon (MATIC) or Cardano (ADA), the recurring plan is currently unavailable to Acala (ACA).
The recurring model typically allows you to regularly invest in cryptocurrency with a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of a coin/token and bullish on its future price movements, it is an excellent way to DCA into the project.
Step 4: Buy Acala
Buy Acala with Paypal: Binance does not currently support purchasing Acala (ACA) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and then transfer those funds to your Binance account to purchase Acala. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you can start transactions on Coinbase immediately.
Buy Acala with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your credit card details.
Buy Acala with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your debit card details.
Step 5: Withdraw ACA from Binance
After buying ACA on Binance, withdraw it to a hard or soft wallet you control. To do this, click the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your ACA. Ensure you enter the correct address, as transactions on the blockchain are irreversible.
You must also enter the amount of ACA you want to withdraw. Once you have entered the correct wallet address and the amount of ACA you wish to withdraw, click the "Submit" button. Binance will then process your withdrawal request, and your ACA will be sent to the wallet address you provided.
Tips for buying ACA on Binance
- Always double-check your order details before placing a trade to ensure everything is correct.
- Consider using the "Limit" order type instead of the "Market" one when buying ACA. With a limit order, you can set the price you are willing to pay for ACA, whereas, with a market order, you will pay the current market price for ACA, which may not be the best price.
- Consider using two-factor authentication (2FA) to enhance security after registration.
10 Reasons To Buy Acala Right Now
Should I buy Acala? If you are considering whether you should buy Acala or not, then the below points may provide some clarity about the project.
- Cross-chain DeFi hub: Built on the Polkadot blockchain, Acala aims to be a decentralized finance hub that enables interoperability and cross-chain liquidity.
- Stablecoin issuance: Acala offers Acala Dollar (aUSD), a multi-collateralized stablecoin that serves as a hedge against price volatility.
- Decentralized exchange: Acala has a built-in DEX, allowing users to swap assets without relying on a centralized exchange.
- Liquidity provision: Users can earn interest by providing liquidity to the Acala platform. In return, they receive a share of the trading fees.
- Multi-asset support: Acala supports multiple assets, including stablecoins, cryptocurrencies, and other assets from various blockchains.
- On-chain governance: ACA is the governance token of Acala, enabling holders to participate in on-chain governance, propose changes, and vote on important decisions.
- Interoperability: Acala is built on Polkadot, enabling interoperability between blockchains and cross-chain transactions.
- Collateralization: Users can use their crypto assets as collateral to borrow other assets on the Acala platform, providing a decentralized borrowing and lending service.
- Cross-chain bridge: Acala has a cross-chain bridge that allows users to transfer assets from other blockchains to the Acala network, increasing the network's liquidity.
- Cross-chain staking: Acala allows users to stake their ACA tokens and earn rewards on both the Acala network and other Polkadot-based networks.
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How to buy Acala in the Philippines?
Choose a cryptocurrency exchange that supports Acala (ACA) trading. Binance is one of the best places to buy Acala in the Philippines. Binance is also one of the cheapest ways to buy Acala in the Philippines.
How to buy Acala in India?
Biance is one of the best places to buy Acala in India. Binance is also one of the cheapest ways to Acala Bitcoin.
Where to buy Acala in the UK?
Choose a cryptocurrency exchange that supports Acala (ACA) trading. Binance is one of the best places to buy Acala in the UK.
How to buy Acala in Australia?
Biance is one of the best places to buy Acala in Australia. Binance is also one of the cheapest ways to buy Acala.
How to buy Acala in Brazil?
Choose a cryptocurrency exchange that supports Acala (ACA) trading. Binance is one of the best places to buy Acala in Brazil.
Where to buy Acala in the US?
Choose a cryptocurrency exchange that supports Acala (ACA) trading. Coinbase is one of the best places to buy Acala in the US.
How to buy Acala in Turkey?
To buy Acala in Turkey we recommend a cryptocurrency exchange that supports Acala (ACA) trading in the first place. Binance is one of the best places to buy Acala in Turkey with its cheap rate and easy-to-start trading account for Turkish users.