April 13, 2020

How to buy Dragonchain (DRGN)

DRGN

In this review, we will explain how to buy Dragonchain (DRGN), a virtual currency that has attracted the attention of many investors from around the world.

DragonChain is a blockchain project and cryptocurrency of the same name, which was developed by Walt Disney Corporation in 2014-2015. DragonChain was created as a private blockchain platform, but in 2016 it became publicly available.

The network allows companies to use secure, simple, and confidential block applications. The creators want to make blockchain solutions available in all sectors because they use smart contracts without servers from a previously created library. This feature is unique because it can create smart contracts with or without cryptocurrency.

To manage the market, blockchain and business platform, DRGN cryptocurrency is used, which is more like a certificate than a coin, since it functions as a licensing system for using the platform systems. DRGN is a technology leader regardless of market capitalization trends, so it is expected to compete with Ethereum.

How can you buy Dragonchain (DRGN)?

First, you need to create a cryptocurrency wallet. For example, you can use MyEtherWallet – a well-known wallet, which is used by many investors for various tokens. You can choose any other wallet that supports Dragonchain cryptocurrency.

To create a wallet, go to the website of the selected electronic wallet, register and create a new wallet.

In the second step, you need to download the Keystore file and see all the warnings. You must back up this file to several other devices, such as USB drives.

You will have an unencrypted private key to your wallet. It is very important to keep the key in a safe place. For example, you can write it down or print it out. The private key is needed in case you lose access to your device. Then you can recover your money with your private key.

MyEtherWallet

Another way to store cryptocurrency is to buy a hardware wallet. The device is similar to USB and allows each user to store personal keys on a small device that works without an internet connection.

Ledger and Trezor produce the most famous hardware wallets. They support Dragonchain, which means that you can store your tokens properly.

If you created your wallet, the next step is to buy Ethereum to exchange it for Dragonchain. Currently, there is no possibility to buy DRGN for fiat or national currency, so you will need ETH or BTC. We recommend ETH.

If you have Ethereum, you won’t have to buy it again, but you will need to convert ETH to DRGN. You can buy Ethereum on many exchanges including Coinbase Pro, Cex.io, Altcoin.

To buy Dragonchain, you will need to use the Kucoin exchange, which lists Ethereum and Dragonchain. If you don’t have a Kucoin account, create one and start working with it. When your account is ready to use, convert Ethereum. 

Go to your Kucoin account, search by ETH and press “deposit”, copy the address and transfer ethereum from another exchange. You will see that ETH has been deposited into your Kucoin account. You can now buy Dragonchain coins. Find DRGN and select the amount you want to buy. Once you have selected all the options, click on the “Buy” button and you will receive DRGN. 

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As mentioned earlier, the best place to store coins is a proven electronic or hardware wallet. To withdraw the coins from the exchange, you need to go to the “assets” section, select “Dragonchain” and then click “withdraw”. In the “address” field you will need to insert the address of your hardware wallet. Once the number of DRGN tokens has been selected, you should press “confirm” and perform the actions displayed.

How to sell Dragonchain (DRGN)

To sell a given cryptocurrency, you can use the same method described above, only vice versa. That is to transfer Dragonchain from your wallet to Kucoin exchange, exchange it for another cryptocurrency and transfer it to the exchange for further purchases or withdrawals. 

How can you sell Dragonchain (DRGN) in a faster way? Sign up on the exchange such as Altcoin, fund your account with Dragonchain or upload Dragonchain through a Bitcoin ATM. Then exchange Dragonchain for Ethereum or Bitcoin.

As you know, these are the two most common cryptocurrencies, so they are easier to access due to the greater volume and liquidity. You can then sell the cryptocurrency for euros or dollars.

Before you decide to sell DRGN, keep in mind that Dragonchain has several outstanding features that make the project unique among most other cryptocurrencies:

  • users retain full control over their data.
  • Dragonchain tokens allow the founders to use them to incubate their projects. It helps developers spin nodes and create smart contracts in a short and fixed-length lockout time.
  • The security of business data and processes and economic viability make it the preferred choice for businesses.

Besides, DragonChain’s scalability makes it a strong competitor to Ethereum. There is huge potential for growth in its market capitalization. Availability in different languages will allow more developers to write code using DragonChain’sblockchain technology.

Thus, the future of this cryptocurrency looks promising.