How To Buy Polytrade (TRADE)?

A common question you often see on social media from crypto beginners is “Where can I buy Polytrade?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Polytrade (TRADE)

First, you will need to open an account on a cryptocurrency exchange that supports Polytrade (TRADE).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Polytrade (TRADE) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Polytrade (TRADE)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Polytrade (TRADE) or Polytrade (TRADE) trading pairs. Look for the section that will allow you to buy Polytrade (TRADE), and enter the amount of the cryptocurrency that you want to spend for Polytrade (TRADE) or the amount of fiat currency that you want to spend towards buying Polytrade (TRADE). The exchange will then calculate the equivalent amount of Polytrade (TRADE) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Polytrade (TRADE) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

Alternative ways to buy Polytrade (TRADE)

Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Polytrade (TRADE)?

Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, & investors for a seamless experience. It brings safe and insurance-backed real-world assets to the crypto world. Polytrade will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders. While the project will start with a focus on trade finance, eventually, it aims to evolve into a full-stack lending protocol for small businesses.

Polytrade enables smart receivables financing through bridging together finance providers and SMEs on a single platform.

Polytrade allows SMEs to submit their financing requests through uploading details of the invoice from the company that they are supplying to, which allows the crypto investors to lend stablecoins into the lending pool, which earns them guaranteed yields. The underlying real-world asset or the “Receivable” is presented by an invoice which gets converted to a digital token and becomes investible for crypto investors. Polytrade is a platform that seamlessly connects all parties involved in trade finance transactions, all of which are powered by blockchain technology.

What is the $TRADE Token?

$TRADE is the ERC-20 token of Polytrade, enabling users with the following:

• Governance: The $TRADE will enable token holders to play an important role in the protocol’s governance by delegating their votes to the preferred decision makers in the Governance Council and making their voice and opinion heard for the best interest of Polytrade hence,making the complete system decentralized.
• Protocol Incentivization: $TRADE will reward protocol users for using the Polytrade platform. This will include all the stakeholders in the chain – Borrowers, Buyers, Service providers and Channel partners. $TRADE will also be easily adjustable against the fees charged for the usage of Polytrade platform.
• Staking Rewards: Polytrade will enable investors to stake their TRADE tokens to earn rewards for securing the network. Stakers will be rewarded with a portion of protocol fees earned each time an invoice is funded on the platform. Staking will also be directed towards the insurance fund to make Polytrade a safe asset.
• Settlement Instrument: $TRADE tokens will be used as a settlement instrument with the channel partners and service providers who will participate in the trade finance economy and performe key tasks like KYC compliance, document validation, credit evaluation, and more.

Polytrade development updates in 2023

Polytrade has made notable advancements in 2023, primarily in the decentralized finance (DeFi) sector. Here’s a summary of the key updates:

• Platform and Mission: Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing. It connects buyers, sellers, insurers, and investors for a seamless trading experience. The protocol’s focus is on tokenizing real-world invoices and harnessing the crypto liquidity pool, offering safe insured-investment options to crypto investors.

• Metaverse Product Launch: In addition to its core trade finance platform, Polytrade is launching a Metaverse product targeted around trades and economies in the metaverse. This 100% on-chain digital native trade finance product is designed to integrate more closely with the evolving digital world.

• Market Performance: As of the latest data, Polytrade’s price is around $0.7938, with a market cap of approximately $24,928,237, ranking it at #688. It experienced a 3.80% change in its price over a day, with a trading volume of $674,204.

• Historical Price Performance: Polytrade reached its all-time high of $1.97 on Nov 28, 2021, and its all-time low of $0.05132 on Jul 03, 2022. The current price marks a significant increase from its all-time low.

• Global Accessibility and Listings: TRADE tokens are available on several major cryptocurrency exchanges, including Bitfinex, KuCoin, and Gate.io. These listings enhance the accessibility and liquidity of TRADE tokens in the global market.

• Benefits for Users: Polytrade’s offerings provide various benefits to its users. Sellers receive timely investment to run their businesses, buyers get streamlined credit facilities, and crypto investors gain interest payments from insured and safe investments in real-world assets. Service providers also participate in the trade finance marketplace to perform key validation activities.

These developments highlight Polytrade’s commitment to enhancing its DeFi offerings, with a focus on real-world asset tokenization and expansion into new digital realms like the Metaverse​.

Official website: https://polytrade.finance/

Best cryptocurrency wallet for Polytrade (TRADE)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Polytrade (TRADE)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).