How to purchase STEPN(GMT)The recent hype surrounding this asset might make it a priority. With the combination of fitness and gaming, the new project pushes the boundaries of how blockchain technology can be applied to social media.
Enter STEPN STEPN, a web-based lifestyle app, allows users to earn money through simple outdoor activities such as running and walking. STEPN uses a consensus system called “move-to-earn” to encourage exercise. It combines GameFi elements with Social-Fi in order to promote a healthy lifestyle.
The number of people interested in the project has increased dramatically over the past weeks. Thousands are now eager to start. This article provides an in-depth explanation on how to purchase STEPN (GMT). It will also explain the steps you need to take to start your journey toward earning and burning calories.
Understanding STEPN
Understanding STEPN before parting with your cash is important. To earn cryptocurrency, STEPN lets you walk, run, or jog in your Non-Fungible Tokens (NFT) sneakers. Users will be attracted to this platform by its built-in marketplace and swap function.
The core of the company is STEPN hopes to make Web 3.0 availableYou can reach a larger audience and capitalize on the multi-billion dollar fitness market. STEPN generated a lot of buzz within crypto circles thanks to its use of gamification, a vibrant community and the possibility to earn cryptocurrency. Solana is a Proof-of-Stake (POS), blockchain which processes more than 700,000. Transactions per second in an efficient manner.
Since entering the space, STEPN’s track record has been impressive. The Solana Ignition Hackathon Gaming Track awarded the project in 2021. It also holds the record of being the only mobile game that won the hackathon. STEPN was able to outperform other complex hackathon projects due to its intuitive user interface, seamless design and built-in marketplace and wallet.
STEPN Founders & Investors
STEPN was created by Find Satoshi Lab (an Australian financial technology company). The website lists Jerry Huang as the co-founder and YawnRong as the founders. Huang has a decade of experience in the development of mobile games.
STEPN attracted significant investments from angel investors due to its potential. It raised a seed round of $5 million from Sequoia Capital. Corner Ventures was also involved. Folius Ventures was also involved.
Binance Labs is the venture capital arm Binance. They also contributed to the investment. Bill Qian, Head of Binance Labs, noted that the ‘gamification of exercise” will bring more people into Web 3.0.
“Even though we have grown 1000x in the last few months, this is only the start of our journey,” said Rong. Speaking on the deal and the potential of the project, Huang noted that the “community is the mainstay of our growth and seeing them rewarded is our biggest motivation.” He adds that a beginner can earn with only 10 minutes of exercise while an expert-level player can earn NFT rewards and “handsome token returns.”
It Works
First, you need to install the STEPN App from the Play Store. Next, players will need to download the STEPN app from Google Play.
Users’ GST earnings can be spent in the game to level up or cashed out for real money. Gamification is enhanced by the customization of NFT shoes and mystery boxes. Many modes are available to help keep players engaged.
Two token systems are available in STEPN: the Green Satoshi Tokens, (GST), and the Green Metaverse Tokens, (GMT). GST serves as the general game token while GMT is the project’s governance token. GMT controls how much STEPN gives to the treasury and how much it contributes towards carbon neutrality.
Participants can stake GMT in order to be part of the governance. They have the right to choose the method for the reward distribution.
GMT’s recent listing on Coinbase has sent the token soaring to an all-time high of $4.11, according to data from CoinMarketCap. The protocol has a $2.1 billion market cap and a circulating supply in excess of 600,000,000 GMT. This is why it ranks 50th in terms of market capital.
GST, on the other hand has a current market price of $7.02 per share and a capitalization of $25.2 millions.
Modes for STEPN
There are many modes available on STEPN, which are suitable for all players regardless of fitness level. Users can earn GST through the simple mode by running and earning. Based on NFT sneaker attributes and movement speed, tokens will be earned for each minute that an activity is performed on the platform.
Marathon Mode is for those with higher endurance. Players must register before they can take part in marathons. There are two types of marathons: weekly or monthly. Each session is broken down into sub-divisions that can lead to different distances. You should note that only one player can participate at once in a marathon.
Background mode is the last mode of STEPN. This mode lets users still make income, even when their mobile apps are closed. The background mode allows users to make repairs on one pair of shoes. Data from walking around is pulled from the health data of the device and does not affect the sneaker’s efficiency attribute, unlike in solo or marathon modes.
Where to Buy GMT
You may be curious to purchase GMT because of the excitement associated with STEPN. The following steps will help you to buy the token.
Step 1. Choose an Exchange
To buy STEPN (GMT), the first thing you need to do is create an account on a cryptocurrency exchange. Although there are many exchanges that accept the token, it is important to pay attention to security issues and fees.
Gate.io and MEXC Global are some of the most popular exchanges to list the GMT token. Binance and Coinbase were also listed. Some exchanges may require KYC and personal data, such as phone numbers or addresses. This is not the case with decentralized exchanges.
Step #2: Fund Your Account
The next step is to make a deposit into your account after you have chosen your preferred cryptocurrency exchange. There are many exchanges that allow you use fiat currencies, such as USD or EUR, to fund your account.
You can choose the preferred payment method, which may be via bank transfer or Mastercard or Visa debit cards. Leading exchanges allow the use of ewallets as well as other payment methods. Traders must be mindful of fees that are associated with using different deposit options. Some may charge higher than others.
Step 3: Purchase GMT
Once you’ve completed these steps, it is time to invest in your cryptocurrency. All exchanges offer the same process for purchasing GMT. Individuals should go to the search bar to find GMT and click on “Buy GMT” or its equivalent.
Next, enter the currency or GMT amount to purchase. The majority of exchanges automatically convert investors’ amounts so that they know how much GMT and how much money they are spending.
It is important to look again at figures before you make a purchase. It is important that traders confirm the purchase of STEPN tokens (GMT), and that there are no similar tokens or looksalike tokens.
Once they confirm, traders are able to purchase their GMT Tokens directly from the exchanges to their wallet.
Exchange Cryptocurrency for Fiat
If fiat currency doesn’t appeal to you, you still have the option of using cryptocurrencies for GMT. The exchanges that allow you to convert fiat currency into crypto are available. The exchange allows you to buy Bitcoin and convert it into GMT using the right trading pairs.
P2P
Many cryptocurrency exchanges offer the ability to directly buy GMT from users. It is easy and seamless, with an option to pay via P2P. The trader will need to choose GMT as a seller and then select whether to pay in crypto or fiat. Once you have made your choices, click on the Buy button to begin trading.
After making payment, most platforms will designate the transaction as “pending released” and after confirmation of the transaction, the seller releases the GMT to the buyer’s wallet. You have the option to make the transaction smoother by allowing the parties to it to use any number of platforms.
How do I store GMT
The next step after purchasing GMT is to find the safest way to store your GMT. You can store your GMT tokens in either a cold or hot digital wallet.
Hot wallets
A lot of cryptocurrency exchanges come equipped with a built-in wallet to allow you to store your GMT coins. This type of wallet is referred to as a hot wallet, and like the two sides of a coin, it has its pros and cons.
If you’re looking to trade GMT regularly, hot wallets provided by your selected crypto exchange are ideal. Hot wallets have a low cost, which appeals to most cryptocurrency traders. Additionally, hot wallets allow traders to have easy access to many features that are offered by an exchange.
MetaMask and Trust Wallet are some examples of popular wallets.
Cold Wallets
You can also store cryptocurrency in cold wallets, which offer security and privacy. The cold wallet is a method of storing cryptocurrency offline using hardware devices.
A hardware wallet is more expensive than hot wallets, but it makes your GMT safe from hackers. Cold wallets are recommended by investors who purchase large amounts of GMT tokens. They cost between $50 and $200.
Trezor Model T and Ledger Nano X are examples of cold wallets.
CoinStats: How to keep an eye on your GMT holdings
Investors may find it difficult to track cryptocurrency portfolios on multiple exchanges due to the complexity and volatility of the market. CoinStats, the leading crypto portfolio tracker allows investors to monitor their whole holdings using DeFi and NFTs.
Trader can connect their crypto exchanges directly to CoinStats. This allows them all to trade on the same platform and make all their transactions through linked exchanges. You can monitor profit, loss and liquidity on multiple CoinStats exchanges.
It is easy to link with CoinStats. There are over 250 crypto exchanges supported on the platform. Additionally, more than 7,000 currencies are supported. Traders also get the additional functionality of analytical data and charting tools. CoinStats offers many advantages over the other trackers of cryptocurrency portfolios, such as advanced search capabilities and current news.
Conclusion
That’s it. You can see that getting your hands on one of the hottest cryptocurrency tokens around isn’t exactly rocket science. It’s important that the exchange supports STEPN. Select the deposit option you prefer, verify the numbers and then proceed with your purchase.
You can also purchase an asset peer-to–peer if your preferred exchange allows it. Another important factor is the selection of a wallet that can store GMT tokens. Before investing in cryptocurrency, it’s important that you do your research.