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In this tutorial you will find a quick step-by-step guide, so that in no time you can buy SKALE (SKL). Forget about guides that are eternal and confusing and make you waste your valuable time. Here we have included a video so you won’t miss any step, besides solving all the doubts on how to get this cryptocurrency. So let’s stop wasting time and get down to the important stuff.
- Create an account with Binance (Link below to create your account) or login if you already have one.
- Deposit Funds with your credit card or wire transfer.
- Go to markets, FIAT markets, and exchange your currency for USDT. In my case, EUR/USDT.
- We go to Sell EUR to get USDT, and exchange the amount we want of our currency for USDT.
- With USDT, we go back to markets, and look for SKL, to click on the pair SKL/USDT.
- We indicate the amount we want to buy and click on Buy SKL.
- Congratulations, you have already bought SKALE, and in your main panel you will see the cryptocurrency.
Where to Buy
This cryptocurrency can be bought on different platforms and exchanges. Our recommendation is to use Binance to buy this cryptocurrency. Because the most used Exchange in the world, and we have the full tutorial below in the video below. But it is the same system on other platforms if you find also this cryptocurrency listed.
Still, we have another very good option if you are looking for something simpler, easy to use and secure. Being one of the few regulated platforms and located in Europe, with all that implies for investor protection compared to other platforms. We are talking about Bitvavo, which if you do not have an account, you can get €10 free with the link you will see below. If you are looking to diversify or do not have any account on a cryptocurrency platform, Bitvavo is a great place to start or have funds with greater security of not losing them.
In case you can’t watch the video, let’s take a look at the guide below in full detail.
Complete Step by Step
The first step is to create an account with Binance to follow the instructions that we will now see, above you will find a link to do so.
With your account created, the next step is to log in and deposit funds. For me, the most practical way is by credit card, although it has a commission that is usually around 1.8%, you can have the balance instantly in your account, while with transfer, there is no commission, but you must wait a few days to have the balance available. For the low cost, if they are not large amounts it is worth using the card for deposit.
When you deposit you will receive your currency, in my case Euros. With your funds,we must firstbuy a stablecoin or another cryptocurrency, in my case, I like to use USDT (Tether). Since with USDT you will be able to buy 95% of the cryptocurrencies in Binance. To do this, go to markets/markets, and click on FIAT market. Here, we will look for our currency, in my case Euros (EUR). And you will see the EUR/USDT pair. Sometimes there are pairs already with EUR or other currencies or they are added over time, but we recommend that you always switch to USDT for convenience and flexibility to buy and sell any cryptocurrency within Binance.
Let’s go to this pair, and we go to the red sell button. Since what we need to do is to exchange Euros for USDT, or your currency. Indicate the amount of euros you want to change or your currency for USDT. Click on sell and that’s it, you will have USDT.
With the USDT in your balance, you must go again to markets, FIAT market, and search for this cryptocurrency. We will search for SKL and not SKALE, since this is the ticker it has, and therefore we must search instead of the full name of the cryptocurrency. Otherwise, it will not appear. Now you will be able to see the SKL/USDT pair.
Click on it, and now go to the buy part with the green button. Here, indicate the amount of USDT (Tether), which we have bought before, or the one you want to use to buy SKALE, and click on buy. With this, you will have SKALE in your balance. Yes, it’s that easy.
Now, you will see at the top right of the screen that the transaction has been completed with a green tick.
You can go back to the main panel to see your new cryptocurrency. If you want to withdraw it, you must click on the SKALE cryptocurrency, withdraw, and indicate the address you want to withdraw it, either your metamask wallet, another exchange or another platform. You can find a guide in our blog if you don’t know how to withdraw cryptocurrencies from Binance.
If you follow these steps, you can have SKL in a few minutes in your account. Register today with Binance so you don’t miss your chance before the price skyrockets.
SKALE (SKL) Price
what is SKALE?
The SKALE network is an open source, Ethereum-native, multi-chain network built to scale Ethereum dApps with a focus on high-performance transactions, fast finality and zero gas fees via the native sFuel gas token.
what problems does SKALE solve?
Poor web user experience3
end users forced to pay gas fees
low speed and latency
inter-chain connectivity and messaging
Strict and inefficient blockchains
Lack of customization and control
Lack of horizontal scaling
Block gas limits and gas costs limiting what and how data/transactions are put on the blockchain
what does SKALE offer?
Zero gas fees – by design, developers and end users never pay for transactions.
Instant finality – fastest chain to finality. Time to finality = block time.
Throughput: 400 transactions per second (tps) baseline and up to 700 tps in peaks.
High block gas limit: 280 million block gas enabling optimal performance and execution of complex transactions and smart contracts, such as machine learning on the chain.
Specific chains – Application chains and core chains for customization and horizontal scaling.
Native bridge – Fast and flexible, offering 18-second finality between chains. Direct support for popular token standards, such as ERC-20, ERC-721 and ERC-1155, with additional flexibility to pass any arbitrary data through the low-level messaging protocol.
Native Oracle – decentralized, transaction-free oracle that allows developers to read data off-chain.
Decentralization and fault tolerance – chains supported by 16 randomly chosen and rotated SKALE validator nodes, with a BFT tolerance of 1/3.
Layered Blockchain security – unique hybrid Layer 1/Layer 2 architecture partially derived from Ethereum security and with the performance and decentralization of a Layer 1.
how does SKALE do it?
The network allows dApp developers to access the compute and storage power of validator-operated nodes to execute fast, containerized, EVM-compliant chains called SKALE chains.
SKALE chains can exchange transactions or messages with other SKALE chains and with the Ethereum mainnet through the validator’s native secure bridge (IMA), allowing dApp developers to use SKALE to power their dApps while enabling the transfer of tokens and messages to and from Ethereum or other chains.
With SKALE, dApps execute zero-cost transactions on dedicated Proof-of-Stake chains distributed across a set of 16 randomly chosen nodes.
Decentralized validator organizations manage and maintain the SKALE nodes, providing distributed computing power and storage to the SKALE network.
Built on the foundation of its services, the SKALE Network is managed and operated by more than 35 smart contracts deployed on the Ethereum core network that make up SKALE Manager.
These smart contracts control network functions such as chain creation, validator registration, node selection, node rotation, staking, bounty payment, logging, and more.
Network users, such as validators, delegators, and application developers, exchange SKL tokens to provide participation and access to network services.
The SKALE validator community represents more than 45 independent operators managing more than 150 nodes, and the SKALE core network has been active for more than 300 days without interruption.
See current statistics.
The SKALE network uses a unique combination of technologies and cryptography-based approaches to achieve scalability, security, interoperability and progressive decentralization:
Proof-of-Stake clustered validation
Scalable security model between validators and delegators
Hybrid container architecture
Agile allocation of composable compute resources on demand across the network
Supermajority signature with ABBA consensus supports Byzantine fault tolerance and solves data availability issues.
Trusted execution environment
Fast block signing and multi-chain support via threshold cryptography
Asynchronous Byzantine Byzantine Binary Agreement (ABBA) Consensus
Mathematically provable, fast functionality, leaderless and Byzantine fault tolerant.
Public, open source, decentralized operation of the SKALE network through SKALE Manager contracts