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How to buy Spell Token (SPELL) safely and securely

The most common way to buy Spell is usually through the most popular exchanges and platforms that can be used. Although, almost all of them have a similar operation. It is essential to register and make a transfer or link a card in order to be able to buy Spell. Once you log in to the platform, just choose the cryptocurrency you are interested in and proceed to buy it with the exchange rate you have at that precise moment.

Where to buy Spell

To buy Spell, the best option is to use the Binance platform. Although there are other exchanges where you can also buy Spell, Binance offers the best options and the largest variety of cryptocurrencies. 

If you don’t have an account with Binance, you can create one here. Now I leave you with a video, so you can see how to buy Spell in the best and easiest way, step by step, so you don’t have any doubts.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

Step by Step

To buy Spell, the first thing you need to do is to log in to your Binance account, deposit your funds, either Euro, USD or another currency. 

Once you have funds in your account, go to markets, and select your currency pair against USDT (Tether). You will then be able to buy Spell. Once you choose the pair, you have to go to sell, and indicate the amount you want to exchange your currency for USDT, and then buy Spell. 

With the USDT bought, you can go back to the main menu to see that you already have it in your account and the order has been executed. Go back to the market, and look for the SPELL/USDT pair, and click on it. 

Here, you will see again the same buy and sell panel, where you have to go to buy, to exchange your USDT for the amount of Spell you want. Once you have chosen the amount, click on buy and you will have it.

If you go back to the dashboard, you can see how much Spell you have. Now, you can keep it in Binance to sell it whenever you want, or take it to a wallet for more security. 

The most popular digital wallet is Metamask, where you can withdraw your Spell from Binance to keep it in Metamask for extra security. You can also use them in DEFI exchanges.

If you follow these steps, you can have SPELL in less than 5 minutes. Sign up with Binance today so you don’t miss your chance.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

What is Spell Token?

Abracadabra is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-linked stablecoin (Magic Internet Money – MIM), which can be used like any other traditional stablecoin.

Currently, many assets, such as yVaults, have locked-up capital that cannot be used. Abracadabra offers the opportunity to use it.

 It uses Kashi Lending technology to provide isolated lending markets, which allow users to adjust their risk tolerance based on the collateral they choose to use.

SPELL token distribution:

63% (132.3B SPELL tokens): global agricultural incentives.

30% (63.0B SPELL): Equipment allocation (4-year acquisition schedule).

7% (14.7B SPELL): Initial offering of DEX

SPELL tokens are distributed as follows:

63% of the total supply will be used to incentivize particular LP pairs or other liquidity mining programs. Read more about the weekly allocation of SPELL incentives in the next section.

A 10-year halving model will be followed, which will halve the rewards distributed each year.

7% of the total supply has been distributed through an IDO, half in Uniswap v3 and half in Sushiswap.

30% of the total supply is allocated to team members, which is vested as follows:

SPELL token issuance.

The SPELL token is used to incentivize users, in order to maintain high liquidity in our markets.

The current issuance per week is

ETH-SPELL SLP on Ethereum Mainnet: 15,627,684 SPELL tokens.

Bribe system: 145,870,602 SPELL

MIM-ETH SLP on Arbitrum: 18,536,727 SPELL

ETH-SPELL SLP in Arbitrum: 5.104.840 SPELL

MIM + 2Crv Curve LP on Arbitrum: 16.239.787 SPELL

3poolV2 in Fantom: 16.239.787 SPELL

Votium Protocol (to be activated: 32,526,707 SPELL

Disapproved: 661,355,250 SPELL

You can stake and lock your SPELL to get sSPELL using the Wizard’s Board! Staking SPELL has a 24-hour lock (Every time a user stakes SPELL token, he/she will not be able to withdraw for the next 24 hours).

First, commissions (interest, loan fee and 10% settlement fee for certain markets) are deposited into the SPELL commission pool in the form of SPELL tokens. When users bet on their SPELL tokens, they receive sSPELL tokens. The sSPELL tokens represent their share of the SPELL commission pool with a mechanism similar to SUSHI/xSUSHI.

10% of all settlement commissions are also coded to be taken out and used to purchase SPELL tokens in certain markets. These SPELL tokens are also added to the SPELL fee pool.

Your SPELL tokens accumulate continuously. When you divest, you will receive all of the SPELL tokens originally deposited plus additional SPELLs earned from commissions.

sSPELL will also allow wizards to participate in governance as soon as the governance portal is up and running.

Platform: Binance
Min. deposit: $10
License: Cysec

Very low commissions
Exchange with more cryptocurrencies

5/5

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