How To Buy Goose Finance (EGG)?
A common question you often see on social media from crypto beginners is “Where can I buy Goose Finance?” 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 Goose Finance (EGG)
First, you will need to open an account on a cryptocurrency exchange that supports Goose Finance (EGG).
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 Goose Finance (EGG) 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 Goose Finance (EGG)
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 Goose Finance (EGG) or Goose Finance (EGG) trading pairs. Look for the section that will allow you to buy Goose Finance (EGG), and enter the amount of the cryptocurrency that you want to spend for Goose Finance (EGG) or the amount of fiat currency that you want to spend towards buying Goose Finance (EGG). The exchange will then calculate the equivalent amount of Goose Finance (EGG) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Goose Finance (EGG) 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 Goose Finance (EGG)
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:
Fees (Maker/Taker) 0.075%*-0.1%*
Available for Trade 500+
10% reduced trading fees*
Europe, Asia, Oceania, Africa
Fees (Maker/Taker) 1.49%*-3.99%*
Available for Trade 75+
$10 sign-up bonus*
North America, South America, Europe, Asia, Oceania, Africa
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.
What Is Goose Finance (EGG)?
Goose Finance is a decentralized exchange that runs on the Binance Smart Chain (BSC). Goose Finance is a fork of PancakeSwap, which was modeled after SushiSwap and UniSwap on the Ethereum (ETH) network. According to their website, Goose Finance is trying to “create a perpetual deflation token, the Golden Egg, that allows a constant price pump with a sufficient burn mechanism.” This is a big statement saying they can manufacture a constant price pump, and we recommend you do your research before making any financial investments. By leveraging automated market-making technology (AMM), Goose Finance creates seamless, decentralized, and permissionless token swaps.
Goose Finance (EGG) is a second-generation yield farming mechanism that allows perpetual price increase with a sustainable and profitable farming yield and a timelock contract. It launched in February 2021.
Goose Finance is trying to solve the issue of significant market fluctuations in decentralized finance (DeFi) caused by users entering and exiting it with large sums of money. The unique burning mechanism works as follows: all of the farms take 4% burn when users stake. Of that, 3% is used to purchase the Golden Egg token which is then sent to the lottery pool and 1% is used to continue the development of the platform.
Who Are the Founders of Goose Finance?
As of 2021, the team behind Goose Finance remains anonymous.
What are Farms, Nests, and Layers?
Farms are a way to stake your LP tokens on Goose Finance to earn EGG. Their website offers many different routes for staking, including EGG-BUSD LP, EGG-BNB LP, and TYPH-BUSD LP, which all have 0% deposit fees. Other farm options include BNB-BUSD LP, USDT-BUSD LP, BTCB-BNB LP, etc. which require a 1.5% deposit fees. These deposit fees are used to buyback EGG.
Nests work very similar to Farms, but they require token staking. Using Nests, you can stake tokens to earn EGG. All nests have a 1.5% deposit fee, which is used to buyback EGG. With Nests, you can unstake at any time.
With Egg Houses, you can stake EGG to earn BUSD and new tokens. At the time of this article, there is only one Egg House option.
Finally, you can invest in layered farming. As Goose Finance states on their website, layered farming is highly volatile, please do your research before investing.
What Makes Goose Finance Unique?
Goose Finance (EGG) is a layered farming incubator. Goose Finance launches new farms every 14 days, which users can enter perpetually, helping solve the inflation issue. One new layer token — Layer “X” Goose — spawns every 14 days, proceeding in two ways.
Initial DEX offering (IDO) happens one to three days before layer farming starts and the conversion of IDO is set at 1:3. All of the pledged layer 0 eggs are then burnt. The initial liquidity price of the layers is set at around 2x of the price of the IDO.
The other way is to pledge layer 0 eggs into a nest that cannot unstake and generates Layer “X” Goose forever.
There’s also the omega lottery burning mechanism, where all farms have a 4% burning fee per stake, 3% of which is used to purchase Golden Egg and inject it into the lottery pool. 20% of the lottery pool — known as the burning fee — as well as the lottery ticket costs, are burnt.
The EGG token is a BEP-20 token that runs on the Binance Smart Chain.
Official website: https://www.goosedefi.com/
Best cryptocurrency wallet for goose finance (egg)
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 goose finance (egg)?
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.
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).
Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following: