How To Buy JOE (JOE)?
A common question you often see on social media from crypto beginners is “Where can I buy JOE?” 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 JOE (JOE)
First, you will need to open an account on a cryptocurrency exchange that supports JOE (JOE).
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 JOE (JOE) 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 JOE (JOE)
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 JOE (JOE) or JOE (JOE) trading pairs. Look for the section that will allow you to buy JOE (JOE), and enter the amount of the cryptocurrency that you want to spend for JOE (JOE) or the amount of fiat currency that you want to spend towards buying JOE (JOE). The exchange will then calculate the equivalent amount of JOE (JOE) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of JOE (JOE) 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 JOE (JOE)
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 JOE (JOE)?
JOE is the governance token of the Trader Joe platform.
Trader Joe is a decentralized trading platform built on the Avalanche blockchain network. It allows users to participate in trading, providing liquidity to liquidity pools, yield farming, staking, lending, and governance voting.
Besides trading JOE coin on crypto exchanges and contributing to the governance of the Trader Joe platform, holders also get rewards from the share of the Trader Joe exchange revenue.
Trader Joe has set out to serve the community at the frontiers of DeFi by innovating, building fast and most importantly, building securely. The ultimate goal is to build a trading platform, that provides users with a true ‘one-stop-shop’ DeFi experience.
Who are the Founders of JOE?
Founded in June 2021 by 0xMurloc and Cryptofish.
Cryptofish (Co-Founder): is an original contributor to several Avalanche projects such as Snowball, Pandaswap, and Sherpa Cash. Most recently, he worked at Google and a CEX specializing in derivatives.
0xmurloc (Co-Founder): is mainly in charge of products and programs at Trader Joe (JOE). He has founded several startups and was recently a Senior Product Manager at Grab.
How does Trader Joe work?
The special feature of Trader Joe is that it combines DEX and Lending & Leveraged Trading, which helps to promote liquidity and attract more money to flow into the project.
In the DEX section, Trader Joe is one of the very first to plan on executing limit order, which overcomes the weakness of decentralized exchanges in price slippage. If Trader Joe can successfully achieve this target, they will be able to make a significant advantage in the DeFi market.
Trader Joe is a DEX, whose main responsibility is to provide swapping and trading service. However, this project also provides other basic DeFi features like staking, yield farming and lending. In addition, Zap is a new feature of the project which allows users to swap for LP tokens in just one click.
The project did not have a “Fair Launch event”, which means that they didn’t presale the tokens to raise investment, most of the JOE tokens were allocated for liquidity.
JOE Token use case
JOE token will be used for 2 purposes:
Governance: Allow holders to vote on community proposals. Proposals will be decided with JOEVOTE:
- Each JOE in the JOE-AVAX pool is worth 2 JOEVOTE
- Each JOE held via xJOE tokens equal 1 JOEVOTE
- Each JOE token is worth 1 JOEVOTE
As a reward for token holders: Stakers, Farmers, Liquidity Providers.
When you stake your JOE, you effectively exchange your JOE for xJOE, for every swap on Trader Joe, a 0.05% fee is charged and sent to the xJOE pool. Over time, you’ll always earn more JOE by holding xJOE tokens
The current phase of the Roadmap is highly focused on token-holder growth, this will be achieved through a combination of developing more $JOE token utility, deepening the instrinic value of the $JOE token, and additionally, opening up the $JOE token to new markets. The next key development for the Trading Platform will be the implementation of Leveraged Trading.
The Longer Term Vision
The Trader Joe Trading Platforms aims to become an R&D hub for DeFi innovation. Developments towards this goal will be prioritized. Some key possibilities for Platform development in 2022 are below:
- Limit Orders
- Options, Futures
- NFT Marketplace
- IDO Launchpad
- Joe Pro
Official website: https://traderjoexyz.com/#/home
Best cryptocurrency wallet for joe (joe)
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 joe (joe)?
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).