How to buy Alchemy Pay (ACH)
If you’re interested in purchasing Alchemy Pay (ACH), this helpful step-by-step guide will show you how. We’ll walk you through the process so you can learn how to buy Alchemy Pay (ACH) with ease. Whether you’re new to cryptocurrency or just looking to expand your portfolio, this guide can provide you with the information you need to get started. So why not give it a try and learn how to buy Alchemy Pay (ACH) today?
Step 1: Create an account on an exchange that supports Alchemy Pay (ACH)
First, you will need to open an account on a cryptocurrency exchange that supports Alchemy Pay (ACH).
We recommend the following based on functionality, reputation, security, support and fees:
1
Binance
Fees (Maker/Taker) 0.075%*-0.1%*
Cryptocurrencies
Available for Trade 500+
Sign-up bonus
10% reduced trading fees*
Available in
Europe, Asia, Oceania, Africa
2
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
3
Gate.io
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1000+
Sign-up bonus
Up to $100 in USDT vouchers*
Available in
Europe, Asia, Oceania, Africa
When you’re signing up for a cryptocurrency exchange, you’ll typically need to provide some basic information. This might include your email address, password, and full name. Depending on the exchange, you may also be asked for additional details like your phone number or address.
It’s worth noting that some exchanges have more stringent requirements, such as a “Know Your Customer” (KYC) procedure. This is typically the case with licensed and regulated exchanges. KYC procedures help ensure that exchanges comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. If you’re required to complete a KYC procedure, you’ll typically be asked to provide additional information, such as a government-issued ID or proof of address.
Step 2: Deposit funds into your account
When buying Alchemy Pay (ACH) on a cryptocurrency exchange, many of them allow you to use fiat currencies like EUR, USD, and AUD to make your purchase directly. To do this, you’ll need to fund your account with one of several deposit methods, including credit and debit cards, e-wallets, and direct bank transfers. If this is not an option on the cryptocurrency exchange that you have chosen, then simply move onto the next step in this guide.
It’s important to note that different payment methods may have varying fees associated with them. For example, credit card payments may have higher fees than other options. To avoid paying unnecessary costs, it’s a good idea to research the fees for each payment method before funding your account.
Step 3: Buy Alchemy Pay (ACH)
Buying Alchemy Pay (ACH) on a cryptocurrency exchange is a simple process. Look for the search bar or navigation menu and search for Alchemy Pay (ACH) or Alchemy Pay (ACH) trading pairs. Next, find the section that allows you to buy Alchemy Pay (ACH). Enter the amount of cryptocurrency you want to spend or the amount of fiat currency you want to use to buy Alchemy Pay (ACH). The exchange will calculate the equivalent amount of Alchemy Pay (ACH) based on the current market rate.
Before confirming your purchase, always double-check the transaction details, such as the amount of Alchemy Pay (ACH) you’ll receive and the total cost of the purchase. Additionally, some exchanges offer a proprietary software wallet to store your Alchemy Pay (ACH), but you can also create your own software wallet or purchase a hardware wallet for the highest level of protection.
How to create a Binance account
Show Detailed Instructions
Hide Detailed Instructions
Step 1: Go to the Binance website.
Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.
Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.
Step 3: Complete the Security Verification.
Step 4: The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How to complete KYC (ID Verification) on Binance
Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
Step 2: click “Start Now” to verify your account.
Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.
Step 5: Enter your personal information and click “Continue.”
You won’t be able to change it once confirmed.
Refer to the respective options offered for your country.
Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
Once your application has been verified, you will receive an email notification.
How to buy cryptocurrency on Binance
Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”.
Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.
Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.
How to Conduct Spot Trading on Binance
Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.
Hide Detailed Instructions
If you’re looking for more detailed instructions on buying cryptocurrency, our “Absolute Beginner’s Guide to Cryptocurrency Investing” can take you through the process step-by-step. This guide also covers how to send and receive cryptocurrency.
If you’re brand new to the world of cryptocurrency, don’t worry! We offer beginner, intermediate, and advanced level articles to help you get up to speed with everything you need to know. These articles cover a wide range of topics, so whether you’re just starting out or looking to expand your knowledge, we’ve got you covered. With our resources, you can confidently navigate the cryptocurrency space and make informed investment decisions.
What is Alchemy Pay (ACH)?
Alchemy Pay is an innovative payment solution platform designed to seamlessly connect the worlds of cryptocurrency and traditional fiat currency. By providing a comprehensive gateway, Alchemy Pay enables the acceptance of cryptocurrencies through well-established payment protocols, while ensuring commercially viable settlement speeds. This is achieved by integrating with adaptation layers of various blockchains and layer-2 networks, creating a robust and efficient platform for transactions.
Delving into the History of Alchemy Pay
At its core, Alchemy Pay is an open-source payment protocol, built to facilitate a smooth bridge between crypto-fiat transactions. By offering a versatile platform, merchants and end-users can execute convenient and flexible payment transactions in both traditional fiat currencies and cryptocurrencies.
Developed and maintained by Alchemy GPS, the protocol launched its native ACH token on September 4, 2019. The ACH token was pre-mined with a maximum supply of 10 billion tokens, with 51% of this supply reserved to incentivize participants who actively use the ecosystem’s wide array of products. The remaining supply was allocated among various stakeholders, including the project’s team (18%), investors (18%), transaction mobility (6%), enterprise partners (5%), and advisors (2%). To promote long-term commitment, the majority of these token allocations are subject to a vesting schedule that commenced on September 7, 2020.
The Power of the Merchant Node Network
The seamless operations of Alchemy Pay are supported by its robust merchant node network, which serves as the underlying infrastructure for the platform. In just over two years of operation, the protocol has successfully established a strong network with more than 150 core nodes. These nodes encompass a diverse range of entities, including remittance partners, banks, decentralized finance protocols, centralized cryptocurrency exchanges, and merchant networks. Currently, Alchemy Pay’s node network supports over 300 fiat and digital assets through 200 payment channels across 65 countries, providing users with extensive reach and flexibility.
Expanding the Ecosystem: Virtual Cards and White-Label Solutions
In an effort to continuously evolve and improve the Alchemy Pay ecosystem, the development team announced plans in 2021 to launch MasterCard and Visa virtual cards. These virtual cards represent an essential step towards further bridging the gap between digital and traditional payment methods. Designed as a white-label solution, this service will be offered to enterprises and blockchain projects, allowing them to empower their end-users to pay for goods and services at various merchant points using digital assets.
By providing a platform that combines the best of both the cryptocurrency and fiat worlds, Alchemy Pay aims to revolutionize the payment industry. With a solid foundation built on open-source infrastructure, a secure and efficient merchant node network, and an expanding range of services, Alchemy Pay is well-positioned to lead the charge in reshaping the way people transact in the digital age. Embracing a positive, educational tone, this comprehensive overview of Alchemy Pay showcases its role as a powerful force in facilitating the seamless integration of cryptocurrencies and traditional payment protocols.
The Multifaceted Role of the ACH Token in Alchemy Pay Ecosystem
The ACH token plays a pivotal role in Alchemy Pay’s ecosystem, serving a variety of purposes that facilitate seamless access to services, incentivize ecosystem growth, and promote decentralized governance.
Access to Alchemy Pay Services through Pledging
Ecosystem partners, including crypto-exchanges, e-commerce platforms, payment companies, and financial institutions, buy and lock-up ACH tokens in proportion to their client network size and projected transaction volume through Alchemy Pay’s services. Pledged ACH tokens can be returned immediately upon cancellation of the partner’s access to the service or forfeited in cases of unfair or fraudulent behavior.
ACH holders who pledge tokens can gain access to different tiers of DeFi products and services depending on the size and duration of their stake. These may include spending rebates, staking yields, and more.
Ecosystem Incentives for Diverse Participants
- Fee Discounts – Transaction fees, investments, and processing fees can be paid either in the local fiat currency or ACH. Choosing to pay for fees in ACH results in various fee discounts depending on terms and conditions for the participants.
- Enterprise Payment Network – Enterprises such as financial institutions, payment companies, e-commerce platforms, and developers are the primary use case builders. They earn enterprise transaction rewards at set rates based on their network size and transaction volume.
- Consumer Payment Network – Consumer transaction rewards are earned through spending rebates and other consumer-targeted payment solutions within the Alchemy Pay Network.
- DeFi Rewards – DeFi transaction rewards are earned by all DeFi participants for staking and various transactions while providing or using DeFi services in the Alchemy Pay ecosystem.
Decentralized Governance through ACH Token
ACH token holders are granted voting rights proportional to their holdings, allowing them to participate in key business decisions and protocol changes, such as:
- Integrating specific tokens into Alchemy Pay’s payment system
- Integrating DeFi services into Alchemy Pay’s platforms
- Adjusting ecosystem incentive mechanisms, including the use of reward reserves
Individuals or groups with more than 5% of ACH’s existing circulating supply can submit proposals for votes. Proposals are executed if total votes exceed 10% of ACH’s current circulating supply, and more than 51% of the votes are in agreement.
Value-Added Voting for Enhanced Engagement
Non-governance voting scenarios, conducted by enterprise partners or Alchemy Pay, can be facilitated by ACH holdings. Examples include opinion polls and various contests in promotional or competitive settings. ACH can be used to qualify and incentivize both ACH holders and non-holders to vote or participate in different initiatives and promotions.
Transaction Rewards for Encouraging Participation and Growth
Enterprise, Consumer, and DeFi Transaction Rewards play a crucial role in incentivizing early participation, innovation, and growth of the Alchemy Pay ecosystem. These rewards are disbursed through algorithms that moderate inflation while appropriately incentivizing transactions.
Most ACH rewards are granted to both parties involved in a payment transaction. The core infrastructure supporting the payment system is the merchant node network, responsible for operations and maintenance of Alchemy’s payment scenarios and capital flow operations.
After each transaction is completed, the node network receives a corresponding amount of ACH rewards based on the transaction volume. This reward is distributed to merchants and users participating in the transaction according to smart contracted rules, with logarithmic increment functions so that the difficulty of obtaining rewards will increase as the user base grows.
Alchemy Pay development updates in 2023
Alchemy Pay (ACH) has made significant strides in 2023. Key developments include:
-
Strategic Partnership with Worldpay: Alchemy Pay entered into a partnership with Worldpay, a leading global acquirer. This collaboration has enhanced Alchemy Pay’s payment channels, particularly integrating Worldpay’s Visa and Mastercard payment rails into Alchemy Pay’s On & Off-Ramp. This allows for improved efficiency and customer experience in crypto transactions.
-
Expansion of Payment Capabilities: The partnership also supports Alchemy Pay’s NFT Checkout, broadening the accessibility of NFTs to a wider audience.
-
Global Reach and Compliance: Alchemy Pay has been proactive in obtaining licenses to operate payment services in various regions, including the United States, Canada, Indonesia, and Lithuania. This includes recent acquisitions of Money Services Licenses in different U.S. states.
-
Recognition by Visa and Mastercard: Alchemy Pay is now recognized as an authorized third-party service provider by Visa and Mastercard, underlining its compliance and regulatory adherence in the crypto payment industry.
These advancements position Alchemy Pay as a significant player in bridging fiat and crypto payments, enhancing global crypto accessibility and user experience.
Official website: https://alchemypay.org/
Best cryptocurrency wallet for Alchemy Pay (ACH)
Navigating the world of cryptocurrency wallets can be quite an adventure, as there are numerous options available to suit different needs. To find the perfect wallet for you, consider your trading habits and the level of security you require. Generally, there are two main categories of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical).
Each type of wallet comes with its own set of advantages and drawbacks, so there isn’t necessarily a one-size-fits-all solution. As you embark on your journey to find the best crypto wallet for your Alchemy Pay (ACH) tokens, remember to keep an open mind and explore the features that align with your personal preferences and requirements.
When choosing the right wallet for your Alchemy Pay (ACH) tokens, consider the following factors:
- Trading frequency: Hot wallets are generally more suitable for active traders due to their quick login capabilities, allowing for seamless buying and selling of crypto. Cold wallets, on the other hand, are better suited for those who make less frequent trades.
- Supported cryptocurrencies: Although not all wallets cater to every cryptocurrency, some of the best ones can trade a vast array of currencies, offering a versatile experience. Make sure the wallet you choose supports Alchemy Pay (ACH).
- Security concerns: If you’re worried about potential hacking incidents, a physical cold wallet stored in a safe deposit box or a secure location at home provides the highest level of protection. However, if you’re confident in safeguarding your hot wallet, you might prefer its convenience.
- Associated costs: Investigate the costs of each wallet option. While many hot wallets are free to set up, cold wallets, being hardware devices, will require an upfront investment.
- Wallet features: While the basic functions of cryptocurrency wallets remain the same, additional features can distinguish one wallet from another. Hot wallets often come with advanced reporting tools, crypto market insights, and currency conversion capabilities. Security features can also be an essential factor when making your decision.
By considering all of these aspects, you’ll be better equipped to select the perfect cryptocurrency wallet for your Alchemy Pay (ACH) tokens.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
If you’re planning to handle larger amounts of crypto, investing in cold storage can be a wise decision. Two of the most popular cold storage options are the Ledger Nano and the Trezor.
Ledger creates cold storage wallets designed for users who prioritize security. Their wallets are physical devices that connect to your computer, and you can only send cryptocurrency from them when they’re connected. Ledger offers a range of products, including the Ledger Nano S and the Ledger Nano X, which features Bluetooth connectivity.
Trezor, a trailblazer in the hardware wallet industry, combines top-notch security with an intuitive interface and compatibility with various desktop wallets. This blend makes it suitable for both beginners and experienced users. Trezor has earned a great deal of respect within the Bitcoin community over time. They offer two primary models – the Trezor One and the Trezor Model T, which comes with a built-in touchscreen.
Alchemy Pay (ACH) Price & Charts
- Market Capitalization And Daily Trading Volume
- Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)
- Circulating And Total Supply
- Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).
