In this post, where we are going to see how you can buy Chia in an easy, simple and fast way. Without complications, so you can be the owner in a few minutes of this cryptocurrency.
Where to buy Chia
For this, I’m going to use two platforms, Binance and gate.io, where you can find all the links below. You can see below a step by step video on how to do it. If not, you will also find a step by step in this article so you won’t get lost at any time. If you don’t have an account you can create one by clicking below.Â
Step by Step
Chia is found in a few exchanges, and you can also use Uniswap, although you will find high ethereum commissions to buy it ranging from $50 to $300 for just buying the cryptocurrency. Therefore, the best option is to use the centralized Exchange gate.io that has this cryptocurrency listed.
The first thing we have to do is to deposit funds in our gate.io account. In order to have funds in gate.io, the best option is to send them from another Exchange, since the platform does not have the option to buy cryptocurrencies with credit card or wire transfer. For this, I am going to use binance, and I am going to send tether (USDT), since it is the cryptocurrency we are going to need to buy Chia.
In my case, I already have USDT in my binance account, if you don’t know how to buy it, I’ll leave a video below so you can watch it. With the usdt, we go to wallet, spot wallet and click withdraw.
Now we must go to gate.io, and go to deposit. Here, we click on the tron/TRC-20 network, as it has the lowest commissions and only costs one dollar commission. Copy the address and paste it into binance. Once in binance, enter the address, the tron network, trc-20 and the amount to withdraw the usdt. We confirm with our email and cell phone, and that’s it. Remember to indicate the trc-20 network to save on commissions and not have any problems.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
At this point, you must wait for the USDT to appear in your gate.io balance, it usually takes a few minutes until you have it ready to use. Once they appear, go to my funds, search for usdt or tether and click on trade.
You will see the panel to buy and sell cryptocurrencies, here, look for XCH, and you will see the pair XCH/usdt. We go down and indicate the amount we want to buy of Chia. Here, if you want to use all your usdt, just click on the number above and the total will be placed. At the top of Price you will see the current price of the cryptocurrency. With the amount indicated, just click on the buy button.
Now, you will be the owner of Chia, and to check it, you can go again to my funds to see the amount you have. Once you want to sell it, we must return to the same panel above, but this time we will go to the red sell button. We indicate the amount we want to sell, and click on sell. This way, you can have USDT again and send it to binance to withdraw it to your bank account.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
What is Chia Network?
Founded by Bram Cohen, the inventor of the BitTorrent network, Chia Network is building a better blockchain and a more decentralized, more efficient and more secure smart transaction platform.
Chialisp is Chia’s new intelligent transaction programming language that is powerful, easy to audit, and secure. The blockchain is powered by the first new Nakamoto-style consensus algorithm since the launch of Bitcoin in 2008. Space-time testing replaces power-intensive “testing-of-work” using disk space not used.
Chia was incorporated in August 2017 to develop an improved blockchain and smart transaction platform. We are building the Chia network to improve global payments and financial systems. Chia is the first enterprise grade digital money. Chia uses Nakamoto’s first new consensus algorithm since Bitcoin. Called Proof of Space and Time, it was created by Bram Cohen, the greatest living network protocol engineer and the inventor of BitTorrent. Chialisp is Chia’s new intelligent transaction programming language that is powerful, easy to audit, and secure. The reference smart transactions available today are: atomic exchanges, authorized payees, recoverable wallets, multisig wallets, and limited-fee wallets.
Chia Network supports the development and implementation of the Chia blockchain globally. Chia Network supports chia developers and supports enterprise use of chia with software support and chia loan.
The genesis challenge will be distributed via our green flag process at 7AM PDT (14:00 UTC) on Friday, March 19, 2021, officially launching the mainnet! We tried to choose a time that had the highest number of waking hours in the world. We apologize to Hawaii, South Pacific, and Eastern Australia, etc.
Chia has an innovative new Nakamoto consensus algorithm that eliminates the power demands of the System Proof of Work. Compared to other cryptocurrencies, Chia has significantly better security due to its more decentralized blockchain. Chialisp is Chia’s new intelligent transaction programming language, which is powerful, easy to audit and secure, and will allow you to achieve the security, transparency and ease of use that cryptocurrencies promise. Chia is also embracing more modern cryptographic tools to enable richer smart transaction capabilities. Chia is taking a new and superior approach to funding, building, and supporting a blockchain through a for-profit, eventually public, open source development company that owns a pre-farm. Chia will use its pre-farm (Strategic Reserve) to ease currency volatility to mitigate bubbles and dips and to drive chia adoption.
Space testing is a cryptographic technique in which testers demonstrate that they allocate unused hard drive space for storage. To be used as a consensus method, Proof of Space must be linked to Proof of Time. PoT ensures that the times of the blocks have consistency in time between them and increases the overall security of the blockchain.
The space test can be seen as a way of showing that some unused storage is kept on the hard drive. Chia blockchain users will “seed” unused space on their hard drive by installing software that stores a collection of cryptographic numbers on disk in “patches.” These users are called “farmers”. When the blockchain issues a challenge for the next block, farmers can scan their plots to see if they have the closest hash to the challenge. The probability that a farmer wins a block is the percentage of the total space that a farmer has compared to the entire network.
The test of time requires a short period of time to pass between blocks. The time test is implemented by a verifiable delay function that takes some time to calculate, but is very quick to verify. The key idea of ​​a VDF is that they require a sequential calculation, and since having many parallel machines does not produce any benefit, the cost of electricity is minimized. There are likely to be relatively few VDF (“Timelords”) servers, as the fastest will always finish first and only one fast and fair Timelord is needed on the network to complete a block and move the chain forward.
Chia has a newly developed innovative blockchain programming language called Chialisp, which is powerful, easy to audit, and secure. Chialisp is a superior on-chain smart transaction development environment that will unlock the security, transparency, and ease of use that cryptocurrencies promise.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
