Are you looking for where to buy Elongate crypto? There are a few things to keep in mind.
When it comes to purchasing crypto, there are countless factors that come into play, such as location and protocol. Some cryptocurrencies are more difficult to obtain than others. ELONGATE is one of them.
Elongate has emerged as a new favorite in the Binance Smart Chain community. Binance Smart Chain transactions are significantly cheaper than Ethereum transaction fees, making the platform much more accessible to retail investors.
Many new cryptocurrencies have emerged on the market as a result of the low barrier to entry. These coins’ value is skyrocketing despite having no true products or competitive advantages over other cryptos already on the market.
In contrast, the Terra blockchain’s new token, Terra Luna 2.0, is completely different from the original blockchain that was at fault during the ‘black swan’ event in May 2022. but investors still buy Terra Luna 2.0 from determined exchanges.
Further, Elongate is not your usual cryptocurrency.
So, here is how you can get your hands on this unique coin.
Let’s explore it and find out.
What Is ElonGate Crypto?
ElonGate (EG) is a cryptocurrency launched on March 25, 2021, as a tribute to Elon Musk, the founder of Tesla and SpaceX.
The coin is based on the Binance Smart Chain (BSC) and is intended to serve as a community-driven platform that promotes charitable causes and cryptocurrency adoption.
ElonGate’s developers claim that the token has unique features, including a charitable wallet that is automatically filled with 2% of every transaction.
This wallet is used to fund community initiatives, including donations to charitable organizations.
ElonGate has also gained attention for its rapidly growing community on social media, which has helped to increase the coin’s visibility and market capitalization.
However, as with any cryptocurrency, it is important to do your own research and understand the risks involved before investing in ElonGate or any other digital asset.
History Of ElonGate
Believe it or not, it all began with a meme and tweet posted by Elon Musk. He told his followers that if he was part of any scandal, it must be called “ElonGate.” Therefore, the name “crypto” began.
The token began trading in April 2021 on Pancakeswap, and it was listed at $0.000000084. On 4/21, it arrived at its peak at $0.000001000 per token. Since the token’s establishment, it has returned approximately 1,200%.
Then, it returns to about $0.00000080, around 10 times the first trading price. It is important to know that these tokens are the most volatile investments.
The ElonGate token is a BEP-20 one on the Binance Smart Chain, similarly an ERC-20 one on Ethereum. However, the BSC network is used instead of the Ethereum one. It is best for investors with less money; on the other hand, the Ethereum network is considered with many high gas fees.
The Binance Smart Chain network can process transactions at a much lower cost in comparison, and it is aided by the proof-of-stake models that help secure the blockchain.
Moreover, ElonGate is quite similar to other tokens like SafeMoon. You can read a guide on how to buy SafeMoon on Coinbase. Both tokens are very high in supply. SafeMoon has a 640 trillion token supply, while ElonGate has a 600 trillion supply.
This is to compensate for the 400 trillion tokens that have already been burned.
As a result, ElonGate’s price remains below one cent. When investors sell their positions, the tokens are burned.
How Do You Buy ElonGate?
Knowing how to buy ElonGate crypto is essential if you want to trade it. Hence, here are the steps you need to do:
Open a Binance Account
You have to open an online account with Binance in order to purchase ElonGate. But you will have to wait until your Binance account approves, especially if you are from the U.S.
This will take several days. However, if you have an IP address that is not from the U.S., it may take a few minutes to access your Binance account.
Once you are done registering, you need to purchase some BNB tokens and invest in ElonGate as much as possible.
Thus, this is due to BNB tokens being used by Pancakeswap to purchase BEP-20 tokens.
Download an External Crypto Wallet
If you want to trade on Pancakeswap, you must have an external cryptocurrency wallet. The two best tools that PancakeSwap uses are Metamask and Trust Wallet.
MetaMask will be bought from Google Chrome’s store; on the other hand, Trust Wallet can be downloaded on an Android or iOS phone.
Metamask is a Google Chrome extension that will make connecting easier if you are on your PC and connecting to a website that supports it.
After downloading it, Metamask can be automatically set to the Ethereum network.
To connect it to the Binance Smart Chain, click at the top of the Ethereum Mainnet wallet.
Then, you will go to “Custom RPC.” When you are there, these parameters must be introduced:
Network name: Binance Smart Chain
New RPC URL: https://bsc-dataseed1.binance.org:443
Block Explorer: https://explorer.binance.org/smart
Hence, entering this information will connect you to the Binance Smart Chain. Now you are ready to send the BNB tokens to the MetaMask wallet and allow the Pancakeswap exchange.
Buy the ElonGate Tokens
Now, you are ready to buy ElonGate crypto. The best thing is that it is very easy to purchase tokens on Pancakeswap. You just need to look it up. An automated market maker will then quote you an ElonGate price based on how much you wish to buy.
However, if you are not purchasing hundreds of thousands of dollars, there should be no high slippage rates.
But still, checking the slippage before making the transaction confirmation is important.
Where to Buy ElonGate
EG can not be found on large crypto exchanges like Coinbase until the token gains more popularity.
Luckily, you can still buy cryptocurrency online if you know where to look. Hence, you can buy some Binance tokens and trade them for Elongate.
Once you have bought the BNB, transfer it to any external cryptocurrency wallet you consider the most suitable.
Go to Pancakeswap and use the Elongate token address like 0x2A9718defF471f3Bb91FA0ECEAB14154F150a385. It will allow you to exchange it with the BNB which you own.
How to Trade, Sell and Convert ElonGate
If you are interested in trading, selling, and converting the ElonGate tokens, then you can do this through Pancakeswap. It can be done on the Pancakeswap DEX.
Furthermore, you can trade for BNB tokens; you can even send the BNB tokens to the Binance account, which will receive USD cash.
Q1: Is Elongate a real crypto coin?
Ans: Elongate is a real cryptocurrency; in spite of this, it still needs to be listed on any major exchanges. Moreover, there are better long-term investments at this time, as it is a pretty new cryptocurrency. It is stated that it has the potential to grow in the future, but this is yet to be seen.
Q2: Is Elongate available on Coinbase?
Ans: No, it is not available on Coinbase yet. But you can access it on other platforms like Binance.
Q3: Where can I purchase Elongate crypto?
Ans: You can only buy Elongate via Binance or PanckeSwap. To purchase Elongate, you need to create a wallet and buy BNB tokens using fiat currency. Once you have completed it, you can exchange your BNB tokens using PancakeSwap.
Furthermore, you must set the right slippage at 11% or 12%. Finally, tap on the “Swap” button to finish the transaction. You should also know that you can store them in any wallet, like BEP-20 tokens, including Trust Wallet or MetaMask.
You can easily buy ElonGate crypto tokens through Pancakeswap. Although it started with Elon Musk’s tweet as a joke, it later became one of the market’s most popular and convenient tokens.
However, it has great potential to grow faster in the future if people start trading it.
If you want to purchase ElonGate, keep in mind to create a Binance account and get an external crypto wallet.
The Binance account creation process may take a few days for US citizens, but people in other countries may be able to buy ElonGate immediately.