How to Buy CryptoGPT (GPT)
How to Buy CryptoGPT (GPT) Price in USD: Convert to US Dollar
Because of artificial intelligence (AI) popularity cryptocurrency projects related to this technology began to attract the attention of traders and investors. CryptoGPT is a good example of a cryptocurrency startup using AI. According to developers, the project is designed to revolutionize the user data market.
In this article, TGDRating experts consider where it is better to buy a native coin of the GPT project, what risks may accompany its purchase, and what is the best way to store purchased coins.
What is CryptoGPT (GPT)?
CryptoGPT is a second-level blockchain based on Ethereum (there is a plan to launch it on Binance Smart Chain in the future). CryptoGPT offers users to earn money by selling their own data, which are used to train artificial intelligence in various fields of activity.
Data collection is organized in form of NFT tokens, which are minted by the user. The received tokens are processed by the Data-to-AI Engine and packaged for sale in the global data marketplace. To protect information, ZK-Rollup technology (zero-knowledge proof) is used, which allows you to hide the identity of the user.
The technology is planned to be used in various areas: logistics, advertising, medicine, AI development, education, biotech, tourism and so on.
GPT coin is an internal blockchain coin used for transaction fees, staking and governance within the project’s DAO.
Where to Buy CryptoGPT (GPT)?
CryptoGPT (GPT) can be bought on decentralized and centralized cryptocurrency exchanges. Uniswap and Pancakeswap are among large decentralized platforms, supporting the purchase of coins, while centralized platforms where GPT is available include MEXC, Bybit and Gate (more exchanges will support GPT in the future).
CryptoGPT Step-By-Step Buying Guide
There is a step-by-step guide to buying GPT on any type of cryptocurrency exchange below.
1. Assess the Personal Level of Risk
The cryptocurrency market is very volatile and unredictable. The price of a coin can change rapidly and then stay below the original purchase price for a long time. To avoid these and other problems, it is necessary to determine the level of acceptable risk. To do this, you can use a few simple rules:
- Invest only your own money (especially important for beginners);
- Do not buy coins with the last money;
- Spread risk – don’t invest everything in one project;
- Determine your investment horizon: do not react to price spikes if you are investing for the long term.
2. Choose a Crypto Exchange
Next, you need to decide on the trading platform. Cryptocurrency platforms differ in interface, commissions and limits, user identification requirements, trading volumes and other parameters.
You can choose any platform suitable for trading, but beginners are advised to use centralized cryptocurrency exchanges because of their usability, security and liquidity. To buy GTP, TGDRatings.com experts recommend Bybit exchange.
Other popular exchanges supporting CryptoGPT:
3. Create Your Account
After choosing an exchange, you need to create an account. For example, let’s go through the registration procedure on the Bybit exchange:
- Go to official site of the exchange;
- Click Sign Up in the upper right corner of the screen;
- Click Get My Welcome Gifts;
- Confirm registration using the password sent to the specified email or phone number;
- Account is registered.
4. Top Up Your Account
After registering an account on the exchange, you need to replenish it with cryptocurrency to buy GPT. For example, let’s replenish the deposit with the USDT coin (this one is traded in the pair with GPT). For this:
- Select Assets → Deposit in menu;
- In the Coin drop-down menu, select USDT as the deposit currency;
- In the Chain Type field on the right side of window, select the type of blockchain, for example, ERC20 (the same type of network must be set in the wallet from which the coins are transferred);
- Copy the address in the Copy line and paste it into the field for sending coins in the wallet (or scan the QR code);
- Confirm the transfer in the wallet;
- Deposit is replenished.
5. Buy CryptoGPT (GPT)
After replenishing the account, you can buy GPT. On Bybit, GPT is traded in the GPT/UDST pair. For example, buy GPT for USDT through the spot terminal of the exchange:
- Click Trade → Spot Trading in the menu;
- Enter GPT/USDT and click on the trading pair in the search bar on the left side of the trading terminal;
- Switch the order creation window in the right part of the terminal, to the Buy mode → select the Market order (buy at the current market price);
- Enter the USDT amount to buy GPT in the Order Value field → click Buy GPT;
- GPT is purchased.
How to Sell CryptoGPT?
To sell GPT, repeat the same sequence of actions as for buying, but you need to create orders in Sell mode.
How to Store CryptoGPT (GPT)
Coins purchased on a cryptocurrency exchange are not recommended to be stored on an exchange wallet for security reasons. It is better to use software or hardware crypto wallets for storage.
GPT is a young cryptocurrency, and so far its support for various services is limited. To store GPT, TGDRatings experts recommend using the Now Wallet.
How to withdraw CryptoGPT to my wallet?
Let’s withdraw the coins bought on Bybit to the New Wallet. For this:
- Click Assets → Withdraw in the menu;
- Switch to On-chain Withdrawal mode. Then, in the Coin field, select GPT, in the Chain Type field → ERC20, in the Amount field → the amount of GPT to withdraw;
- Paste the address from your GPT wallet in the Wallet Address field. To get one, go to Now Wallet;
- Type GPT in the search bar of the main wallet window and select CryptoGPT (Ethereum);
- Copy the address in the next window (or use the QR code);
- Paste copied address into the Wallet Address field in the Bybit exchange interface;
- Check the information in the withdrawal request and click Submit;
- Funds are transferred from the exchange to the wallet.
The investor will have to make the decision to buy a CryptoGPT coin on his own. Your own project research, as well as the advice of famous traders, investors and influential experts in the field of cryptocurrencies will help to you to make right desicion.