How to Buy Ark (ARK) in 3 Simple Steps

Ark (ARK) is the governance coin of the Ark Public Network (APN), which enables users to create their own fully customisable blockchain. The project aims to make blockchain technology more accessible by providing users with the necessary building blocks.

Ark has seen significant growth since it entered the market in 2017 at approximately $0.06 per token. It experienced a big surge in 2018 during the Bitcoin bull run before tapering off. It has now once more caught the interest of crypto investors. This article covers everything you need to know about and before you buy Ark.

Table of Contents

Where to Buy Ark?

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.

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.

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 favorite 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.

5 Things to Consider if you Want to Buy Ark

There are some factors you should consider before you make your first Ark purchase. These are discussed below.

1. Carefully choose your preferred secure payment method

Online brokers and crypto exchanges offer several secure payment options for buying assets. The options that are available to you will depend on your location. For instance, investors in Asia shouldn’t expect to see the same options as US users. This is an important factor to consider because it’d suck for you to go through the sign-up and verification process only to learn none of the available options suit your needs.

3. Will you need to set up your own wallet?

It is good practice to set up a secure cryptocurrency wallet that you have 100% control over, especially if you want to hold Ark as a long-term investment. Exchanges automatically make web wallets for new users, but these cloud-based wallets are always online and are vulnerable to hacks and theft.

Investors who are entering into CFD (Contract for Difference) agreements can skip this step. Dealing with crypto derivatives doesn’t require setting up a wallet because these contracts are usually settled in fiat money.

3. Comparing costs

Blockchain networks charge network fees that are typically paid out to miners who confirm transactions. For the Ark blockchain, that amount is 0.1 ARK. There are also platform-specific fees such as deposit fees, withdrawal fees, and processing fees that you should consider. It’s a good idea to compare the fees and costs of Ark transactions on various platforms to make sure you get the best deal.

4. Safety and security

The Ark platform is designed to function as a launchpad for customisable blockchains, so security is naturally a big concern for its development team. Unlike Bitcoin and other cryptocurrencies that use resource-intensive Proof of Work (PoW) consensus mechanisms, Ark uses a Delegated Proof of Stake (DPoS) consensus mechanism to secure the network. The blockchain has 51 active delegates who stake their cache of ARK tokens and use their resources to secure the network in exchange for block rewards.

Traders who are conscious about security should combine the built-in security features available on the ARK blockchain with the security protocols provided by exchanges and brokers, such as two-factor authentication and private key encryption.

5. Can you understand and navigate the platform?

Ease of use is an often neglected consideration. Take the time to familiarise yourself with how your chosen broker or exchange platform works. Learn how to navigate the platform, what fees it charges, and how long transactions take. The best platforms have in-depth tutorials to walk users through every step of the process. Remember, blockchain transactions are immutable by design, so you can’t get a refund if you make a mistake.

What Fees are Involved in Buying Ark?

We’ve briefly talked about the importance of comparing fees and costs associated with purchasing ARK. Now let’s take a look at specific fees that you should consider before you commit to a platform.

Transaction fees: All broker and exchange platforms charge some type of fee to verify transactions. These are platform-specific fees that aren’t charged by the Ark blockchain. The exact amount depends on the platform and the type of payment option you use. As mentioned earlier, bank transfers generally have the smallest fees, while payments made with credit cards have the highest.
Deposit fees: Some platforms take a small percentage of the deposit amount in fees. Brokers in particular don’t charge deposit fees to encourage traders to sign up.
Withdrawal fees: These are fees a broker or exchange takes when you cash out. It is typically a small percentage of the withdrawal amount, but it can sometimes also be a fixed rate.

Safely Storing Your Ark

Security is incredibly important when handling cryptocurrencies. You must find a secure wallet for your Ark tokens, especially if you plan to hold on to the tokens as a long-term investment. Below are some examples of software and hardware wallets that support ARK.

Web Wallet: These are cloud-based wallets that can be accessed through a browser. Brokers and exchanges usually make web wallets for users when they sign up. They’re convenient, but not recommended for long-term storage because the hosting platform has access to your private keys. If anything were to happen to the platform (i.e. hacks, theft or bankruptcy), then you could lose your tokens forever.

Mobile Wallet: Mobile wallets are basically storage apps designed for smartphones and tablets. They are a step above web wallets in terms of security, but they are not the safest option because they are constantly online (i.e. hot storage). If someone steals your phone or somehow gains access to your device, then you could risk losing your assets. The best mobile wallet for ARK tokens is the ARK Wallet, which is available on Android and iOS.

Desktop Wallet: These are wallets that are designed for laptops or PCs. Desktop wallets are much more secure than web or mobile wallets because they have advanced security protocols. However, they are still considered a hot storage option because they are vulnerable to cyber hacks and theft. A good example of a desktop wallet for Ark is the official Ark Desktop Wallet.

Hardware Wallet: These are physical wallets that look like USB flash drives. They are considered the gold standard for crypto storage because they offer completely offline storage. Hardware wallets are recommended for long-term storage of ARK or any other cryptocurrency. A good example of a hardware wallet that supports ARK is the Ledger Nano S.

Wallet Combinations: It is common for investors to make use of multiple wallets for better security and convenience. A trader might use a desktop wallet that is interlinked to a hardware wallet for quick and secure transfers. For instance, the Ledger hardware wallet can be connected to a desktop version of the wallet called Ledger Live. It’s a convenient way to facilitate transfers and check your balance.

What Other Coins Can I Trade or Use to Buy Ark?

Ark has a reasonably high daily trade volume, so it is possible to Buy ARK with Bitcoin, Ethereum and other cryptocurrencies through major exchange platforms. Exchanges offer traders “trading pairs”, which are a combination of two different digital assets to facilitate easy trades. For example, depending on what platform you use, you could buy ARK in an ARK/BTC or ARK/ETH pair.

What’s the Smallest and Largest Amount of Ark I Can Buy?

Most exchanges have a minimum ARK buy limit of at least $10. Brokers have higher limits of $50 to $100 or more.

If you want to buy small amounts of ARK, then you should consider using an exchange. However, since the value of one token is so small, it may be difficult to buy less than one ARK token. You may need to buy a whole ARK token or more on most platforms. There is usually no higher limit unless required by local laws and regulations.

Can I Buy Ark Anonymously with no ID? Is it Safe and Legal to Buy Ark?

One of the biggest allures of cryptocurrencies is complete user privacy. The world is becoming more privacy-conscious, and that has translated to interest in digital currencies like ARK that could potentially offer transactional anonymity. The bad news is that financial regulators have already stepped in to control the crypto market, so you’ll be hard-pressed to find an exchange or broker that lets you buy ARK with no verification. Reputable platforms require users to verify their identity to comply with KYC and AML rules and facilitate secure ARK purchase.

But it’s not all gloom and doom; it’s still possible to buy ARK anonymously. You simply have to cut out the middleman and find an individual who will let you buy ARK without ID. There are crypto peer-to-peer (P2P) platforms designed to connect buyers and sellers for this exact reason. They offer an alternative way to buy ARK safely without giving out your personal information.

Will Buying Ark Make Me Money?

An often-asked question on cryptocurrency forums is: “Does buying ARK make you money?” It’s only natural for investors to want to buy ARK to get rich, but unfortunately, there are no guarantees in the crypto world. You can learn investment strategies and use fundamental and technical analysis indicators such as upcoming announcements about ARK, what companies or who is buying ARK, and historic price movements to make an educated guess. However, you can’t eliminate all the risks.

Investing in cryptocurrencies is always a gamble, so focus on the present and strike while the iron is hot. Check out our Ark Price Page for information on the best price to buy ARK.

How to Spend your Ark

Ark has a few use cases with more plans for the future. As a governance token, Ark can be used to vote for delegates who function as nodes that secure the network. It currently costs 1 ARK token to cast a vote for a delegate and 1 ARK to change a vote.

The Ark team has also announced partnerships with crypto payment processors like Spend.com to give ARK holders in the US the ability to spend their assets on goods and services. This partnership includes access to virtual and physical debit cards that work with Google Pay and Apple Pay.

How to Sell your Ark

Ark has a reasonable trade volume, but it still has a long way to go. It’ll be hard to find convenient ways to directly switch your tokens for fiat currency. Currently, the best way to sell ARK tokens is by trading them for more popular cryptocurrencies and then cashing out in fiat money.

Another option is to use CFDs that are tethered to ARK. Thanks to the explosion in crypto trading, it has become relatively easy to off-load crypto derivatives using broker platforms.

Frequently Asked Questions

How can I buy ARK?

ARK is available on exchange and broker platforms that support the currency. Look up trading pairs that include ARK on major exchanges to start your purchase.

Where can I sell ARK?

It may be difficult to find a platform where you can directly sell your ARK tokens for fiat money. A good alternative is to trade your ARK for a more popular cryptocurrency like Bitcoin or Ethereum, and then convert that into fiat currency.

Is it safe to invest in Ark ETFs?

It depends on your investment risk profile. ETFs are a fairly new phenomenon that have experienced a boom. As such, they’re quite volatile, so trade your own risk.

How fast are ARK transactions?

ARK was deliberately designed to be fast and scalable. New blocks are generated every eight seconds, making ARK one of the fastest altcoins on the markets. It is capable of processing 150 transactions per block.

What consensus mechanism does Ark use?

Ark uses a Delegated Proof of Stake (DPoS) consensus mechanism to verify transactions and add new blocks. There are 51 delegates elected by the Ark community to function as nodes.

Does ARK have an official wallet?

The ARK Desktop Wallet for PCs and ARK Wallet for mobile are the two official wallets for the project. ARK holders must use these wallets to stake tokens and cast votes.

When was ARK launched?

The Ark blockchain was first launched in 2016. The governance coin ARK was launched a year later in 2017.

Can I use my exchange wallet to vote for a delegate and earn ARK?

Unfortunately, you will need to use a supported ARK wallet to vote.

Why did I receive a lesser amount of ARK from a buy order?

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.

Can I use a trading bot to buy and sell ARK?

Refer to your trading bot provider to see if the platform is supported and import the API keys.