How To Buy Ark | Ultimate Guide To Buy ARK
Like the biblical ship of Noah, Ark is a blockchain platform that has been created to bring everyone aboard decentralised technology. Using SmartBridges and the support of 18 different programming languages, Ark networks allows virtually any blockchain system to connect and exchange information.
The ability to effectively become the centre of all blockchain networks has pushed demand for its ARK token and if you are interested in buying Ark and need to learn how to buy it, you are reading the right guide. We will also discuss the ways of trading this token in this guide.
5 Steps to Buy Ark with eToro Now
Buying any cryptocurrency with eToro is easy, simply follow the steps below:
1Sign up for free with eToro, entering your details in the required fields.
2Fill out the questionnaire, this is both educational for you and eToro.
3Click 'Deposit', you'll then be asked how you want to fund your account.
4Choose your required payment method, follow the simple steps to link your payment.
5Enter the amount you want to deposit and you're good to go!
Our Recommended Platform to Buy Ark
In case you have experience in buying any cryptocurrency and you believe that you possess sufficient knowledge on how to purchase ARK coins, you can use the list of our recommended crypto exchanges mentioned below. Each platform has been carefully evaluated by our expert team to ensure authenticity, reliability and legal compliance.
You can skip this section and continue reading to learn how to get ARK coins and always come back to this list after feeling confident.
Where to Buy Ark in 2021
ARK tokens have seen a huge rise in value in the last few months and as such, the shifting token prices can be a good potential opportunity to make profits. To do that, you can either buy the ARK tokens from a reputable crypto exchange or use an online broker.
To buy ARK, you will need to head over to a crypto exchange and buy it, just like an ordinary purchase. While this seems easy and straightforward, you will need to have some idea of how digital assets work and how you send and receive them, store them in your wallet, the public and private keys of wallets and what role these keys have.
If you are not sure that you will be able to handle this, you can always decide to trade through a broker instead of buying Ark. Using trading platforms, you can also capitalise on the ever-changing prices of ARK and make money. The only difference between actual buying and trading is that, unlike crypto exchanges, you are not offered Ark coins when you tap the buy button. Traders are given the opportunity to buy and sell contracts from the brokers.
You can trade ARK through CFDs, Futures and Options. Futures is a common trading contract where you speculate on the price of ARK at a specific date and enter the agreement by paying the amount. Once the contract expires on the decided date and time, the difference between the placed price and market is calculated and settled. If the market rate is higher than what you predicted, you make profits without needing to buy the ARK coins.
How to Buy Ark with a Broker
Before you begin trading with a broker, it would be prudent to look up the platform and its services. You will be handing over a significant amount of money so there are particular aspects that you should be very particular about.
The first thing you should look at is the platform’s legal status. Is it registered with any financial authority? Seek out their registration number and run it with the authorities to make sure it's not fake. At the same time, Google about the platform and its reputation, especially feedback from users.
Cybersecurity is also a top priority. Look for technologies that guard against hacks of the broker platform and others that protect you such as 2FA. Check out their fee structure while you browse their security features.
1. Register with the Broker
A reputable broker with legal coverage and approval will always require you to register on its platform. The process can vary from one broker to another but will have a few elements in common.
Some will want you to create a username and password, while others might require a bit more information such as resident country and contact number. Some might expedite all this by letting you link your social media accounts such as Facebook’s.
2. Verify your Identity (KYC Process)
One of the founding principles of cryptocurrencies has been their anonymity. This opens up a whole new world of opportunities for bad actors to use it for money laundering and tax fraud. Brokers will ask for your identification and proof of funding sources as a part of their Know Your Customer (KYC) and Anti Money Laundering (AML) process to ensure the source of funds and your identity is not suspicious.
The requested information will include your identification such as an ID card or driver’s license, place of residence and even bank statements.
3. Deposit Funds with your Preferred Payment Method
Once the broker clears your KYC, you can begin funding your trading account. Since a broker will only give you contracts that will rely on the ARK token price, you will need to transfer supported fiat currency. Head over to your accounts Balance, Wallet or a similar option to see what funding sources are accepted by the platform.
Most of the time, you will find two options, card and bank transfer. Debit and credit cards have the fastest speed, with you able to transfer over money in a few seconds or minutes. You will need to enter information about your card on the deposit page. This includes the card number, expiration date, name on the card and the special CVV code at the back.
Cards are a bit insecure as you are handing over information that can be collected and used in case of a data breach. A much safer (and the other popular funding option) is through bank transfers. Since you will be using your bank and entering information about the broker’s bank details, your funds are safer. Though the bank transfer method is safe but can be a bit slower.
4. Open a Position to Long/Short Ark
With brokers, you will find not buying and selling, but long and short positions. Long positions are just like buying, where you enter a contract in the hopes that the price of Ark will rise. If your homework is right and the price does rise, your contract’s value increases and when you close it, you are in a profitable position. Long positions work in a straightforward manner and a trader only opens it when the market sentiment is bullish.
But what about a bearish market? You might decide to hold out on trading until sufficient indications of bull return are available. Short positions come in handy in this situation where you can still open positions and make potential profits even in a seller dominated market. A short position works in the opposite direction of longs where your contract value rises if you buy high and sell low, allowing you to keep trading no matter what kind of a market condition. You can open a short position using a CFD on a broker platform such as eToro. CFDs also help you in taking advantage of leverage that can amplify profits. However, the potential for downside is also greeted when using leverage so new users must learn before using such instruments.
While long and short positions are helpful, the real advantage can be taken using the different order types. If you want to simply open up a position, you can use the market order, only preferring to define the size of the position. In case you want to control what the ARK coin price should be, you can always use the limit order.
Using a stop-limit order can come in handy to enter a contract when there is a swing in the direction you want by letting the broker know what price ARK coins should be in the market to place your limit order.
There are other advanced forms of order that your broker may or may not support. Orders like One Cancels the Other (OCO), Fill or Kill (FoK), Trail and Iceberg can allow you to place very complex instructions to open your positions.
5. Close your Position
You should have clarity on what your target profit is and you don’t need to be in front of your computer or mobile to close your position when profits are achieved. You can use take-profit limit orders for automatic execution. Similarly, you can define the maximum loss you are willing to take and place a stop-loss order.
The market situation can always change and that might mean you want to change your close position orders. You can simply cancel the open orders and replace them, even manually closing your positions with a market order.
How to Buy Ark with an Exchange
Easy and powerful as it sounds, a trade doesn’t give you a claim on the ARK coins since you never buy them. If you would prefer to have ownership of Ark, you should use a crypto exchange instead of a broker.
The selection criteria for a cryptocurrency exchange is similar to the ones we have described for brokers. For a list of legal compliance, reputable and user-friendly exchange platforms, you can revert to the start of this guide that has a selection of cherry-picked platforms by our team of experts.
Security, from both your side and the platform, goes without saying. Don’t forget to compare the fee structure too.
1. Set up an Ark Wallet
Crypto exchanges will always (unless decentralised) have internal wallets where your bought coins and tokens are stored. This is a benefit as you don’t need to create your wallets. But since centralised exchanges are custodial in nature and service suspension can mean you are locked out of your wallet and hacking will probably mean assets lost, it is always advisable to store your coins in a private wallet.
There are several ARK supported cryptocurrency wallets. Each has its own set of features and benefits and you can decide which one is best for you:
- Hardware Wallets: Often referred to as cold wallets, these are USB devices much like flash drives that store your coins’ data in them. The devices can be expensive but their ability to physically be separated from the network (just unplug these) makes them extremely secure and worth the money spent.
- Software Wallets: Unlike hardware wallets which can be disconnected from the Ark network, software wallets are always online and therefore are called hot wallets. The security concern is covered by coding in different secondary layers such as requiring a keystone file or biometric sensors in your devices. Software wallets can be computer or mobile-based, allowing for instant and on the go access in contrast to hardware wallets.
2. Choose and Join an Exchange that sells Ark
Analyse crypto exchanges carefully and evaluate what platform is the most suitable for you. A few of the most popular crypto exchanges today for ARK buying are Binance, OKex and LATOKEN. Each of these exchanges is reliable and even have a proper KYC check, but they differ in the features and fee so compare before making a decision.
Once decided, simply go to the registration page and enter all required details, along with any documentary proof under KYC and AML checks.
3. Choose Your Payment Methods to Buy Ark
You will be able to fund your crypto exchange account after you have cleared all the required KYC steps. You can go to the deposit option and see the accepted payment methods. As crypto exchanges, these platforms will support cryptocurrencies so if you already own some and it is supported by the exchange, you can always use these to fund your account.
Your exchange may also have fiat currency support so you can use your credit card or a bank transfer too.
In any form of funding, it is advisable to send over just a small amount (the minimum the platform will accept) to see if you have the procedure done correctly. Once it is funded, you can be sure you have entered the data correctly and can proceed to send the remaining fund.
4. Place an Order to Buy ARK
With the funds in your crypto exchange, you can head to the market section to place your first ARK buy order.
Selecting the right ARK pair will give you details on it on the buying interface page. You can look at the price charts, order books and other relevant data to update yourself. Using the buy options (market, limit, stop limit and others) you can place your order.
Selecting the right pair is important. Binance, for example, only has an ARK/BTC pair, so if you are going to use this exchange, you will need to have Bitcoin in your exchange’s wallet. You can either deposit these directly or use fiat funds to first get your hands on Bitcoin and then buy Ark.
5. Safely Storing Your Ark in a Wallet
As custodial exchanges will keep your Ark for safekeeping, you might feel the need to take these off the exchange. Long-period holding or large quantities can be risky on any exchange. You should have a private wallet set up if you have followed the first part of this section.
Simply access your private wallet and note down the wallet address, also referred to as the public key. Go to your exchange wallet and select ARK. Using the withdraw option, you can enter the private wallet public key and transfer over your ARK coins.
Should you Buy or Trade Ark?
The answer to this question lies in your strategy of generating ARK profits. Should you like to have ownership of the Ark coins, you should buy them. If ownership isn’t an issue and you are more concerned with how much you can make out of it, then trading is the right option for you. Brokers are the right platform for traders.
Your preferred timeline and risk exposure also comes in. You can potentially increase your profit-making by using leverages and other advanced contracts, but if you hold the contracts for a longer time, the premiums and interest accrual can eat your profits. Buying and selling are also possible on exchanges and just might be a better option if you are a long term investor.
What’s the Difference Between an Ark Exchange and a Broker?
You can use both an Ark exchange and a broker to use the changing prices of ARK to buy and sell to make money. It’s just what you buy and sell that creates the difference.
On an exchange, you will buy and sell ARK coins themselves, but with a broker, you enter and exit agreements that are based on ARK prices.
So what’s the advantage of using a broker you may ask? After all, you get to hold ARK coins when buying and a broker doesn’t even offer that. Since a broker offers you contracts, the platform can use clauses and options that can allow you advantages over buying. We have already talked about leverages and that is one way. Contracts such as Options allow you to back out of an agreement if the market prediction is wrong, losing only a small amount as a premium, potentially saving you from massive losses.
Ark: Long Vs Short Term Investment
How you want to earn from ARK coins will tell you what time period strategy you should be using.
Like any other digital asset, the ARK coins are also subject to rapid fluctuations. You can use a short term strategy and repeatedly trade the coins to capture the changes and gain profits.
Alternatively, you can hold on to the ARK coin and wait for that large movement you always hear about. Long term strategies also have the advantage of giving you more time to do other things as you can set a limit or stop-limit orders and go about your regular business, with the automated orders taking care of buys and sells.
3 Tips to Buy Ark
Still an emerging field, crypto assets have a lot of driving fuel behind them and the sudden shifts can cause you to make rash decisions. Understanding these and making calculated buy or sell decisions will save you in the long run.
1. Choose the Right Time and Do Your Own Research on Ark
Never follow in your impulse to buy ARK coins. Research a bit and look at fundamental and technical indicators and what they are pointing at. Try to learn from price history and determine what is the best time to enter or exit the game. Have profit targets decided beforehand and exit when these are achieved.
2. Comparing Costs to Buy Ark
Each platform, whether a broker or a crypto exchange, will have different fee structures and deposit/withdrawal charges. Take these into account to see how much you actually end up spending. Local supply and demand will also have slight differences in exchange rates between the platforms and these should also be considered in advance.
3. Safety and Security when Buying Ark
While costs are an important factor, never put security in the back seat. A platform with excellent rates and price but low security is a recipe for disaster. Balance prices and cost with security. At the same time, also ensure your end is secure with a good antivirus.
What is the Best Payment Method for Buying Ark
- Buy Ark with Cash: You can always seek a local seller you can get in contact with and buy ARK coins using cash.
- Buy Ark with Credit Card: Easy and extremely fast.
- Buy Ark with Bank Transfer: Secure, but slower than using a card.
- Buy ARK with Bitcoin: Exchanges are mostly offering an ARK/BTC pair.
- Buy Ark with PayPal: As fast and easy as using a credit card, but may not be accepted by your platform.
Other Ways to Buy Ark
The Ark network uses a modified PoS consensus system called Delegated Proof of Stake (DPoS) that doesn’t allow anyone to openly become a validator. A voting process selects the top 51 from a pool of hundreds of candidates. This essentially cuts you off from staking and earning rewards unless you run for the candidacy and win.
There is a way around it, fortunately. As an ARK coin holder, you can vote for your favourite node. Many nodes offer profit sharing to their voters, meaning if you vote for one of these and they get elected, you will be given a share in the block rewards they gain.
You could also exchange ARK using cash through a peer-to-peer exchange but it is not a recommended option since meeting strangers and handing over cash is always risky.
We discussed buying/selling and trading ARK in this guide and the various methods that can be used to purchase and invest in this cryptocurrency.
Frequently Asked Questions
Your request is in the order book but hasn’t been executed as there is no matching buyer. You can wait or change your order settings to execute quicker.
Some exchanges can offer you to buy cryptos directly from your fiat instead of first funding an account with money.
Unfortunately, you will need to use a supported ARK wallet to vote.
Some of your base fiat/crypto has been used to pay for the buying fee, giving you a slightly lesser ARK than in the order.
Refer to your trading bot provider to see if the platform is supported and import the API keys.