How to buy MAGIC (MAGIC)
If you’re interested in purchasing MAGIC (MAGIC), this helpful step-by-step guide will show you how. We’ll walk you through the process so you can learn how to buy MAGIC (MAGIC) 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 MAGIC today?
Step 1: Create an account on an exchange that supports MAGIC (MAGIC)
First, you will need to open an account on a cryptocurrency exchange that supports MAGIC (MAGIC).
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) 0.2%*-0.2%*
Available for Trade 1500+
10% reduced trading fees & up to $170 in USDT vouchers*
North America, South America, 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 MAGIC (MAGIC) 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 MAGIC (MAGIC)
Buying MAGIC (MAGIC) on a cryptocurrency exchange is a simple process. Look for the search bar or navigation menu and search for MAGIC (MAGIC) or MAGIC (MAGIC) trading pairs. Next, find the section that allows you to buy MAGIC (MAGIC). Enter the amount of cryptocurrency you want to spend or the amount of fiat currency you want to use to buy MAGIC (MAGIC). The exchange will calculate the equivalent amount of MAGIC (MAGIC) based on the current market rate.
Before confirming your purchase, always double-check the transaction details, such as the amount of MAGIC (MAGIC) you’ll receive and the total cost of the purchase. Additionally, some exchanges offer a proprietary software wallet to store your MAGIC (MAGIC), 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
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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.
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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 MAGIC (MAGIC)?
At the heart of the Treasure metaverse lies $MAGIC, a unique and increasingly scarce natural resource. Designed to “power on” NFTs and transform them from fantasy into productive, yield-bearing assets, $MAGIC plays a crucial role in weaving an intricate web of narrative bridges within the metaverse. As the complexity of the economy grows, so does the scarcity of $MAGIC, making it an essential element in the Treasure ecosystem.
Players can earn $MAGIC through various activities, such as playing games, mining, and participating in Bridgeworld. Consequently, the Treasure ecosystem is governed by those who hold $MAGIC tokens.
The upcoming phase of farming will introduce a Proof of Work mechanism, requiring users to stake Legion, treasures, and $MAGIC to earn new items. This innovative approach aims to create an economy of assets in which the rarest assets are earned through labor. The cost of farming includes the initial assets (mining equipment) and the time spent performing actions. For example, a mining operation might involve staking $MAGIC and diamonds to create one-time use drilling tools.
This Proof of Work mechanism represents a significant improvement over traditional liquidity provider (LP) incentives. Unlike conventional farms that often cater to mercenary farm and dumpers, the Treasure metaverse model focuses on creating slow, continuous growth in liquidity. By rewarding LPs for enhancing the quality of the ecosystem, the Treasure metaverse aims to establish a long-term community rather than instant liquidity.
Mining in the Treasure metaverse results in a virtuous cycle for both $MAGIC and the treasures themselves. As $MAGIC is staked or placed into LP positions indefinitely, there is less of the token to go around. This scarcity leads to the token gaining “density,” which translates into a loyal community and established use cases. These factors form a solid foundation upon which new derivatives and financial products can be built.
The Proof of Work mechanism bestows treasures with provable value, derived from the cost of mining, time spent, and collectors’ affinity for their treasure. As these treasures gain financial value, they become valuable inputs for other DeFi products, leading to increased competition among builders to attract liquidity. Protocols vie for users’ loyalty by offering higher yields and lower fees, further fueling the virtuous cycle.
In terms of tokenomics, future $MAGIC emissions will follow a distribution model that mimics Bitcoin’s halvening but occurs annually rather than every four years. The total supply will amount to approximately 350 million tokens. The Treasure metaverse team deliberately opted for high inflation initially to promote long-term sustainability, as successful DeFi protocols have frequently employed high emissions to help bootstrap communities and liquidity.
The design of the $MAGIC mine also offers uniquely high rewards for users willing to lock up their $MAGIC for extended periods. These users play a vital role in bootstrapping liquidity for the protocol and demonstrate exceptional confidence in its future. As a result, they have proven themselves to be the best possible trustees of the DAO and stewards of the protocol.
In summary, $MAGIC serves as the lifeblood of the Treasure metaverse, powering a vibrant economy of rare assets and fostering a loyal, long-term community. With its innovative Proof of Work mechanism and carefully crafted tokenomics, the Treasure metaverse is well-positioned for growth and long-term success.
What is TREASURE?
Treasure is a groundbreaking decentralized NFT ecosystem built on the Arbitrum network, specifically designed to cater to metaverse projects. By listing projects that utilize MAGIC, the native token of Treasure, in their respective metaverses, it fosters a unique environment where each community crafts its own lore and storytelling around this essential resource. Acting as the reserve currency for the entire network of interconnected metaverses, MAGIC serves as the sole currency for marketplace transactions within the Treasure ecosystem.
Treasure projects are interconnected both narratively and economically through MAGIC, allowing the DAO to use MAGIC emissions to cultivate new projects and sustain more mature ones. At the heart of the Treasure metaverse lies Bridgeworld, where MAGIC is generated and harvested. This central metaverse is built upon a three-part resource economy, comprising $MAGIC (Power), Treasures (Resources), and Legions (NFT | Players).
In Bridgeworld, Legions employ treasures to mine for MAGIC and construct more extensive infrastructure and equipment. MAGIC empowers legions to undertake quests and craft new items using treasures, with the relationship between treasures and MAGIC forming the equilibrium that underpins Bridgeworld. As an increasingly scarce resource, MAGIC is required to “power on” treasures and enable them to function as productive assets, while treasures generate the tools and materials necessary for mining MAGIC. This intricate interplay creates a base layer metaverse upon which other metaverse economies can be built and connected.
Guided by the TreasureDAO and governed by staked MAGIC holders, the mission of Treasure is to enable communities to establish new, decentralized metaverses. Embracing the belief that metaverses are community-written stories and resources represent the threads that weave the fabric of the metaverse, the DAO votes on key aspects such as project onboarding, MAGIC distribution, and revenue sharing agreements for the marketplace. Despite its short history, Treasure has already attracted a robust grassroots community, and the DAO aims to nurture a vast ecosystem with diverse product offerings in the future.
In 2022, the DAO plans to launch a generalized NFT marketplace (transacted in ETH) as an additional revenue source. Projects featured in this marketplace will not be connected to MAGIC or Bridgeworld, but will provide the DAO with the means to continue supporting the overall Treasure ecosystem’s growth. Ultimately, Treasure aspires to become a beacon of decentralization across the entire NFT ecosystem, building decentralized competitors to existing NFT products, and using the revenue generated to jumpstart new projects and support the growth of older ones.
Treasure is a fair-launch, community-driven endeavor. A majority of its team members were drawn from the community, inspired by the project’s ethos of building in the open. The DAO has implemented a framework enabling the community to contribute to the ecosystem’s development and earn MAGIC rewards for their efforts, thus deepening the network effect and incentivizing other communities to build on top of Treasure.
Every item within the Treasure ecosystem—including legions, treasures, and MAGIC—was distributed free of charge, and other collections in the marketplace were free-to-mint, fair launch projects. Furthermore, Treasure is an open-source initiative, with its marketplace, quests, and lore being publicly-hosted projects open to contributions from anyone.
Understanding Staking $MAGIC: A Comprehensive Guide
Staking is a crucial component in the world of decentralized finance (DeFi) and cryptocurrencies, providing an opportunity for users to lock up their holdings and earn rewards or interest. In the context of Treasure and the $MAGIC token, staking plays a significant role in securing the network and enabling users to participate in the ecosystem’s growth.
What is Staking?
In simple terms, staking refers to the process of locking up one’s digital assets, such as cryptocurrencies or NFTs, in a designated platform or protocol. Through staking, users can earn rewards or interest on their locked assets, thereby generating passive income and contributing to the security and stability of the underlying network.
What Can You Stake on Treasure?
After migrating to the Arbitrum network, users can stake two different assets within the Treasure ecosystem:
- $MAGIC tokens: These can be staked in the Harvesters in Bridgeworld, enabling users to earn rewards and participate in the platform’s governance and decision-making processes.
- SLP tokens: Users can also stake their SLP tokens in the MAGIC-WETH SLP (SushiSwap Liquidity Provider tokens), providing liquidity to the $MAGIC market and earning a portion of the transaction fees.
Please note that staking is no longer active on the Ethereum Mainnet, meaning that users can no longer stake Loot, n, or AGLD tokens for $MAGIC within the ecosystem.
How to Stake $MAGIC and NFTs?
To stake $MAGIC tokens and NFTs in the Treasure ecosystem, users can follow these simple steps:
- Access the Bridgeworld Harvesters platform, which allows users to stake their $MAGIC tokens and NFTs.
- Follow the detailed instructions provided on the platform, ensuring that you are using a compatible wallet and have the necessary assets available for staking.
By staking $MAGIC tokens and NFTs, users can actively contribute to the Treasure ecosystem’s growth and stability while enjoying the benefits of passive income through rewards and interest.
Official website: https://treasure.lol/
Best cryptocurrency wallet for MAGIC (MAGIC)
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 MAGIC (MAGIC) 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 MAGIC (MAGIC) 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 MAGIC (MAGIC).
- 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 MAGIC (MAGIC) 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.
MAGIC (MAGIC) 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).