How To Buy e-Radix (EXRD)?

A common question you often see on social media from crypto beginners is “Where can I buy e-Radix?” 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 e-Radix (EXRD)

First, you will need to open an account on a cryptocurrency exchange that supports e-Radix (EXRD).
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 e-Radix (EXRD) 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 e-Radix (EXRD)

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 e-Radix (EXRD) or e-Radix (EXRD) trading pairs. Look for the section that will allow you to buy e-Radix (EXRD), and enter the amount of the cryptocurrency that you want to spend for e-Radix (EXRD) or the amount of fiat currency that you want to spend towards buying e-Radix (EXRD). The exchange will then calculate the equivalent amount of e-Radix (EXRD) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of e-Radix (EXRD) 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 e-Radix (EXRD)

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 e-Radix (EXRD)?

Radix is a public, decentralized ledger built to support the creation of applications, with a focus on decentralized finance (DeFi) use cases. It uses a new consensus algorithm called Cerberus to help secure the network while giving it a higher level of performance (i.e., scalability) that could be desirable to specific applications. Radix also features its own smart contract execution environment (i.e., virtual machine) dubbed the Radix Engine, which allows developers to map business assets to pre-built Radix components. The project is aiming to be an alternative base layer to blockchains like Ethereum for DeFi applications. Radix has a native token, XRD, that holders can use to participate in the network’s Proof-of-Stake (PoS) consensus mechanism and earn inflation rewards. Radix’s current token, e-Radix or eXRD, is a placeholder ERC-20 token on Ethereum that will eventually be exchanged for mainnet XRD tokens.

RADIX token (XRD) on the Radix Public Network

The RADIX token is the native token of the Radix Public Network, with ticker XRD.

Purpose: XRD is used to secure the Radix Public Network by staking it as part of Radix’s Delegated Proof of Stake system. XRD is also the only token that is used to pay transaction fees on Radix, which are burnt. 

E-RADIX token (eXRD) on the Ethereum network

The E-RADIX token is the wrapped representation of XRD on Ethereum, with the ticker eXRD. 

Purpose: Just as wBTC allows for a wrapped form of Bitcoin to be used in Ethereum’s DeFi ecosystem, eXRD allows for a wrapped form of Radix’s XRD token to be used in Ethereum’s DeFi ecosystem.

Supply & Allocation: Each eXRD is backed 1:1 by an XRD held at a secure third-party custodian. The circulating supply of eXRD on Ethereum therefore changes, as it depends on how much XRD is deposited and wrapped into eXRD.

The maximum supply of eXRD can therefore never exceed the amount of XRD in circulation. The circulating supply of eXRD will always be at or below the circulating supply of XRD.

Bridging between XRD and eXRD

XRD and eXRD will always be exchangeable 1:1. Following the Olympia launch, a 1-way “token bridge” service has been provided from eXRD on Ethereum to XRD on Radix, called Instabridge. As of September 2021, work is ongoing to make this a 2-way bridge and to allow for other assets to be wrapped into the Radix ecosystem.

Who are the founders of Radix?

Radix founder and current CTO Dan Hughes started experimenting with Bitcoin back in 2011, working on ways to make it more scalable. After testing out different approaches, including increasing the block size and using the top available hardware, he determined the Bitcoin Blockchain capabilities stop at around 700-1000 transactions per second. He decided to go further into the decentralized ledger rabbit hole to help improve its capabilities.

In 2013, using the bitcointalk.org forums, Hughes started a project called eMunie. Between 2013 and late 2016, he explored multiple options base layer scaling solutions for decentralized protocols, including Block trees, DAGs, and Channel Asynchronous State Trees, before settling on a data structure called Tempo.

Dan started building Radix, a new base layer decentralized ledger protocol built to support smart contract development that featured Tempo at its core. According to the team, Tempo allowed Radix to hit high levels of performance during its testnet phases.

Radix is still in development. But the next iteration of Radix technology is a three-phase-commit consensus mechanism called Cerberus, which aims to further improve network security without compromising scalability. Cerberus will be complemented by the Radix Engine, a smart contract execution environment that will allow developers to create new assets and applications on top of the protocol.

Kadena development updates in 2023

E-Radix (EXRD), as part of the Radix platform, has seen significant developments in 2023. Here’s an overview of the key updates:

• Mainnet Upgrade: One of the most critical advancements for Radix is the anticipated launch of the Babylon mainnet upgrade, scheduled for the first half of 2023. This upgrade is set to bring production smart contracts written in Scrypto onto the mainnet, marking a significant milestone in Radix’s roadmap.

• Support Across Multiple Platforms: The growing support for both XRD and eXRD (the wrapped representation of XRD on Ethereum) across various platforms is a notable development. This expansion offers token holders more options for using and securing the Radix Network, such as staking and participating in the DeFi and Web3 ecosystem.

• Scrypto Programming Language: The introduction of Scrypto, an asset-oriented programming language, aims to enhance the Web3 and DeFi developer experience. By making assets (tokens) a native feature of the language, Scrypto is positioned to simplify and improve the development process on the Radix platform.

• Cerberus Consensus Algorithm: The Cerberus consensus algorithm is another unique aspect of Radix. It provides atomic composability with linear scalability by braiding consensus across a vast “shardspace.” This innovation is expected to offer unmatched scalability and efficiency for the Radix network.

• eXRD and XRD Parity: eXRD, the Ethereum-based representation of XRD, is designed to maintain parity with XRD through a 1:1 exchangeable system, supported by arbitrage mechanisms. This relationship ensures that eXRD and XRD remain closely aligned in value and utility.

• Radix Ecosystem Growth: The Radix ecosystem continues to expand with over 130 projects and more than 750 tokens launched or announced. This growth is further supported by initiatives like the Radix Grants program, which fosters innovation on the Radix Network.

These developments demonstrate Radix’s commitment to decentralizing the global financial system and its progress towards creating a robust DeFi and Web3 ecosystem​​​​​.

Official website: https://www.radixdlt.com/

Best cryptocurrency wallet for e-Radix (EXRD)

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 e-Radix (EXRD)?

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).