Today, there are over 17,000 crypto projects in existence. This has given investors several options to choose from for crypto investments. Aurora crypto (AOA) is one of the several projects that is making waves in the crypto space with its unique features.
Aurora chain is simply a smart contract platform that aims to provide fast and affordable transactions for its users. If you are interested in buying Aurora (AOA) but not sure where to start, this guide will show you how to buy Aurora crypto (AOA) for the first time.
What is in this guide
- What is Aurora?
- How to buy Aurora Crypto (AOA)
- How to withdraw and store your Aurora Crypto
- FAQs
What is Aurora?
Aurora is a blockchain technology that aims to improve the performance and reliability of other blockchain networks like Ethereum. It uses special consensus mechanisms called Byzantine Fault Tolerance and Delegated Proof of Stake to achieve this. According to coindesk, Aurora wasn’t established to compete with Ethereum but to complement it. The project”s whitepaper further reveals that it seeks to solve problems like slow transaction times and the ability of a blockchain network to improve over time. It also allows for low transaction fees and the ability for developers to build new programs and applications on top of it..This technology can be used in many different industries who want to put their programs and rules on the Blockchain.
The currency symbol of Aurora chain, AOA, was first tradable on 26th June, 2018. It has been listed on a number of cryptocurrency exchanges like Kucoin, Coinone, Indodax, digitalexchange.id, and BitGlobal. As of January 2023, Aurora has a circulating supply of 9,975,060,788. and a market cap of $2,071,730 on coinmarketcap.
Unlike other well-known cryptocurrencies, it cannot be bought using fiat money directly. However, you can still buy Aurora crypto without much difficulty by first purchasing Tether Usdt or a top cryptocurrency like Bitcoin on any fiat-to-crypto exchange, and then transferring your funds to the exchange that trades it
In this guide, we’ll be showing you how to buy Aurora crypto on Kucoin using Tether Usdt. We chose Kucoin exchange because it has the highest trading volume for AOA.
How to buy Aurora Crypto (AOA)
Step 1: Create an account on Kucoin
Creating a Kucoin account is the first step in purchasing Aurora (AOA) on the exchange. Click the “Sign Up” button on the Kucoin website to get started. You will be prompted to enter your email address and create a password. Once you have completed this step, you will get an email with a verification link that you must click in order to confirm your registration.
Step 2: Verify your account
You must verify your identity for your account after it has been created. On the Kucoin website, click “Verification” under the “Settings” tab in the top right corner to carry out this action. A copy of your ID or passport and a selfie of you holding it will be requested for upload. To confirm your identity and to comply with anti-money laundering laws, you must take this step.
Ensure you also complete the Google 2FA verification and that you’ve set the trading password for your account.
Step 3: Fund your account with fiat currency
Go to the Buy Crypto tab on Kucoin exchange. You will see the Third-party, P2P, and Fast Buy option for buying usdt with your local currency. We’ll be showing you how to buy with the “fast buy” option. Tap on Fast Buy and select the type of crypto you want to buy (in this case USDT) and the fiat you want to pay with. Select Bank Card as the payment method.
If you have already passed KYC verification on Kucoin you can go ahead and bind your card for the purchase. Add your card and billing information to complete the binding.
After binding your card, you can proceed to buy Usdt. It’s advisable to start with a small amount. Once you complete the purchase, you will get a receipt. You may click on View Details to see the record of your purchase under Main Account.
It’s important to keep in mind that there can be limits on how much you can deposit on Kucoin and the fees associated with depositing fiat money may change based on the country or region you are in.
Step 4: Buy Aurora (AOA)
Once you have USDT in your account, you can now buy Aurora (AOA). To do this, go to the “Markets” tab and search for “AOA.” Once you find the AOA/USDT market, click on it. This will take you to the trading page for AOA.
Kucoin has at least two fundamental order types for spot trading :
Market Order: The easiest option to use if you want to see the current Aurora price and trade it in real time. Depending on the time of day, this type of order is typically filled in a few seconds.
Limit Order: It tells the exchange to carry out a buy or sell order at a particular price. Limit orders take longer to fill than stop orders since they are visible to the market.
If you choose a limit order, enter the USDT amount you wish to spend as well as the price at which you want to buy AOA in order to complete the trade. Click the “Buy” button after you’ve finished entering this data. As soon as a seller agrees to sell AOA to you at the price you have set, your order will be completed and filled.
Note: In order to proceed with your order, you’ll have to insert your 6 digit trading PIN password that you chose while creating the KuCoin account.
Congratulations, you’ve just bought AOA on KuCoin!!
Step 5: Withdraw AOA to your wallet (Optional)
Once your order has been filled, you will now own AOA. To withdraw your AOA, go to the “Withdraw” tab and select “AOA.” You will be prompted to enter the address of the wallet where you want to send your AOA. Enter the amount of AOA you want to withdraw and the address of your hardware wallet. Double-check the address to make sure it’s correct, as any mistakes could result in the loss of your funds.
Step 6: Confirm the withdrawal
Once you have entered the withdrawal details, you will be prompted to confirm the withdrawal. Click on “Confirm.” .Once the withdrawal is complete, check your hardware wallet to make sure the AOA has been received.
Note that there may be withdrawal limits and fees associated with withdrawing AOA from Kucoin. Be sure to check the Kucoin website for the most up-to-date information on withdrawal limits and fees.
In conclusion, buying Aurora Crypto (AOA) on Kucoin with USDT (Tether) is an easy process that can be completed in a few quick steps. If you follow the directions given in this guide, you should have no issues with buying Aurora for the first time. But bear in mind that the AOA price is extremely susceptible to changes due to the strong volatility of the cryptocurrency market. To make sensible investments, it is crucial to conduct your own research.
Frequently Asked Questions
Where can I trade Aurora?
The most popular exchanges where Aurora (AOA) is traded are Kucoin, Coinone, Indodax, digitalexchange.id, and BitGlobal. All these crypto exchanges listed are mostly centralized exchanges. Make sure to do your own research before making your choice. If you want to learn how to trade Aurora and other coins profitably, signup here.
How to buy Aurora AOA?
You can buy Aurora crypto with a bank transfer, or a credit or debit card on a crypto exchange like Kucoin or Coinone. Use your USDT to buy Aurora in the trade tab – Once you’ve bought USDT or Bitcoinon Kucoin, you can swap your USDT/ Bitcoin for Aurora right in the Kucoin mobile app or website. Learn how to buy the right coins here.
What is AOA coin used for?
As part of the Aurora platform, AOA token is used as the means of payment in the Aurora ecosystem, acting as its “fuel”. It can also be used for daily operations, rewards for users and core team members, and other contributors to the Aurora ecosystem. Cryptovendors has some list of services you could check out to spend your AOA too.