How To Buy Merit Circle (MC)?

How To Buy Merit Circle (MC)

A common question you often see on social media from crypto beginners is “Where can I buy Merit Circle?” 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 Merit Circle (MC)

First, you will need to open an account on a cryptocurrency exchange that supports Merit Circle (MC).
We recommend the following based on functionality, reputation, security, support and fees:

1

 Binance

Create Binance Account - How To Buy Merit Circle

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 Gate.io

Create Gate.io Account

Fees (Maker/Taker)                    0.2%*-0.2%*

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Available for Trade                           
1000+

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Available in
North America, South America, Europe, Asia, Oceania, Africa

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 Merit Circle (MC) 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 Merit Circle (MC)

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

Note: Make sure to always double-check your transaction details, such as the amount of Merit Circle (MC) 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.

How to create a Binance account

Create Binance Account

Show 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”.

How To Create a Binance Account Step 2

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.

How To Create a Binance Account Step 3

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 Create a Binance Account Step 4
Congratulations, you have successfully registered on Binance.

How to complete KYC (ID Verification) on Binance

Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
 

How To Complete KYC ID Verification on Binance Step 1 - How To Buy Merit Circle

Step 2: click “Start Now” to verify your account.

How To Complete KYC (ID Verification) on Binance Step 2

Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.

How To Complete KYC ID Verification on Binance Step 3 - How To Buy Merit Circle

You will then see the list of verification requirements for your specific country/region. Click “Continue”.
How To Complete KYC (ID Verification) on Binance Step 4

Step 5: Enter your personal information and click “Continue.”

Make sure that all the information entered is consistent with your ID documents.
You won’t be able to change it once confirmed.
How To Complete KYC ID Verification on Binance Step 5 - How To Buy Merit Circle
Step 6: Next, you will need to upload pictures of your ID documents. Choose the type of ID and the country your documents were issued. Most users can choose to verify with a passport, ID card, or driver’s license.
Refer to the respective options offered for your country.
How To Complete KYC (ID Verification) on Binance Step 6

Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.

For example, if you are using an ID card, you have to take photos of the front and back of your ID card.
How To Complete KYC (ID Verification) on Binance Step 7
Step 8: After uploading the document photos, the system will ask for a selfie. Click “Upload File” to upload an existing photo from your computer.
How To Complete KYC ID Verification on Binance Step 8 - How To Buy Merit Circle
Step 9: After that, the system will ask you to complete face verification. Click “Continue” to finish face verification on your computer. Alternatively, you can move your mouse to the QR code on the bottom right to complete the verification on your phone instead. Scan the QR code via your phone’s camera to finish the face verification process.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
How To Complete KYC ID Verification on Binance Step 9 - How To Buy Merit Circle
After completing the process, please wait patiently.
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”. 

How To Buy Cryptocurrency on Binance Step 1

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.

How To Buy Cryptocurrency on Binance Step 2 - How To Buy Merit Circle

Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.

How To Buy Cryptocurrency on Binance Step 3 - How To Buy Merit Circle

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 Buy Cryptocurrency on Binance Step 4

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.

How to Conduct Spot Trading on Binance Step 1

Step 2: Search and enter the cryptocurrency you want to trade.

How to Conduct Spot Trading on Binance Step 2 - How To Buy Merit Circle

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.)

How to Conduct Spot Trading on Binance Step 3 - How To Buy Merit Circle

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.

How to Conduct Spot Trading on Binance Step 4

Hide Detailed Instructions

How to create a Gate.io account

Gate.io

Show Detailed Instructions

Step 1: Go to the Gate.io website.

Step 2: Choose your username, your email address and your password. Then check “I certify that I am 18 years of age or older, and I agree to the Gate.io User Agreement Privacy Policy” and click “NEXT”.

How To Create a Gate.io Account Step 2

Step 3: Set your fund password and click “Create account”.
Note: Your fund password must contain at least 6 characters and can not be the same as your login password.
How To Create a Gate.io Account Step 3
Step 4: An activation email will be sent to your email address. Complete the rest of the registration process by following the instructions in the email to activate your account. Once this is done done, click “Email activated, please log in”.

How To Create a Gate.io Account Step 4

How to complete KYC (ID Verification) on Gate.io

In order to ensure the safety of your assets, and to reduce fraud, money laundering, blackmail, and other illegal activities, Gate.io makes it mandatory that all users obtain KYC ID Verification. Only after your account has obtained KYC ID verification, can you withdraw funds or use credit cards or debit cards to buy cryptocurrencies.

Step 1: Log in to your Gate.io account.
Place your cursor on the top-right profile icon and go to “KYC (ID Verification)”

How To Complete KYC (ID Verification) on Gate.io Step 1

Step 2: Click “Individual (Verify now)”

How To Complete KYC (ID Verification) on Gate.io Step 2

Step 3: Select your country, input your full legal name (twice), fill in your ID information, upload photos of both sides of your ID card, and a photo of you holding your ID together with your User ID (UID) for Gate.io. You will see your User ID by placing the cursor on the top-right profile icon on the main page. Make sure everything is filled in correctly and then click on “Confirm and Submit”.

How To Complete KYC (ID Verification) On Gate.io Step 3

How To Complete KYC (ID Verification) On Gate.io Step 4

Step 4: After you have submitted all the requested information, you will see the pending approval.
Approval can take anywhere from a few hours to a few days to complete.

How To Complete KYC (ID Verification) On Gate.io Step 5

Once the KYC is approved, you’re ready to make your first cryptocurrency purchase.

How to buy cryptocurrency on Gate.io

Step 1: Log in to your Gate.io account.
Then in the Menu Bar at the top of the page, click “Buy Crypto” and select “Credit Card”.

How To Buy Cryptocurrency on Gate.io Step 1

Step 2: Enter the amount you wish to spend in the “Buy with Fiat Currency” tab and select the cryptocurrency that you want to buy under the “Currency Purchased” field. Then select one of the “Service Providers” below and click the “Place Order” button to enter the confirmation page.

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.

How To Buy Cryptocurrency on Gate.io Step 2

Step 3: On the confirmation page, select “Buy Crypto” or the “Create Order” button to complete the payment.

Note: To ensure a quick and secure way of receiving the order, users might need to conduct an additional Identity Verification (KYC) with a third-party service provider. Once successfully verified, the service provider will immediately transfer the cryptocurrencies to your Gate.io account.

How to Conduct Spot Trading on Gate.io

Step 1: Log in to your Gate.io account.
Click on “Spot Trading” under “Trade” on the top navigation bar.
You can either choose “standard” or “professional” version. This tutorial uses the standard version.

How to Conduct Spot Trading on Gate.io Step 1

Step 2: Search and enter the cryptocurrency you want to trade.

How to Conduct Spot Trading on Gate.io Step 2

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.)

How to Conduct Spot Trading on Gate.io Step 3

Step 4: If you don’t want to set a manual price, you can click on the last prices on the order book to set the buying/selling price automatically.

How to Conduct Spot Trading on Gate.io Step 4

Step 5: Confirm the price and amount. Then click on “Place Order” to place the order, followed by “Confirm Order” to confirm it.

How to Conduct Spot Trading on Gate.io Step 5

 

Hide Detailed Instructions

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 Merit Circle (MC)?

Merit Circle is a decentralized autonomous organization (DAO) with a mission to maximize value accrual across different games in the metaverse. Merit Circle is creating a platform at the intersection of capital (investors), expertise (platform and managers) and players (gamers).

Brought to you by the founders of the Axie 420 scholarship and incubated by Flow Ventures. Flow Ventures has committed to realizing Merit Circle’s vision and providing the team with all the necessary resources. This marriage equips Merit Circle with years of combined experience and expertise.

With over 500 scholars currently playing Axie Infinity and running elaborate breeding cycles, significant revenues are already streaming into the Circle of Merit, benefitting the liquidity providers, the Merit Circle DAO and the players. The returns often translate into life-changing income and their first access to global financial infrastructure for the latter group.

Now, Merit Circle will not only focus on Axie Infinity. The team will continue to search for opportunities in the metaverse through new games, new revenue models and yet to be discovered concepts. Merit Circle will remain at the forefront of innovation and invite anyone to accompany them to ride along.

The Merit Circle founders announced: “Through forming our identity, we laid our focus on three key pillars; gaming, cryptocurrency and investing. We were looking to build a brand that gave space for the creative expression of the gaming industry, but one that could also stand alone, be trusted and feel inherently strong enough to inspire confidence, faith and belief.”

“We didn’t want our brand to feel like just gaming; it’s not just cryptocurrency, it’s not just investing; we’re doing something that speaks powerfully to any of these audiences without feeling too overwhelming towards one side or the other. We wanted to speak the language of each group. Therefore, with pride, we’re bringing you the Merit Circle; ‘an organic group of individuals who are rewarded through shared interests and skills.’”

The world’s experiencing a revolution of the play-to-earn economy in the metaverse. Merit Circle is aiming to become the largest circle that will allow anyone to grasp the available opportunities. Merit Circle will be leveraging the DAO’s brand and collaboratively invest in scholarships, purchase lands, invest in these economies and educate the community.

How Does Merit Circle (MC) Work?

Merit Circle DAO is the central hub where all the main action happens. Multiple SubDAOs work inside the main MC DAO to support the play-to-earn industry running on the protocol. The decisions on the protocol are taken through a governance model that is operated by anyone who is an MC token holder. 

Three parts make up the Merit Circle (MC). The MainDAO, SubDAO, and the Vaults.

The MainDAO handles a variety of SubDAOs as described above. If a user owns any stake on the platform, they can vote on the future of every subDAO. However, this is not possible in the alternate scenario. In summary, the MainDAO is responsible for scaling of subDAOs, generating yield farming income, governance of the Merit Circle future, and other similar stuff.

A SubDAO represents an ‘asset’, meaning a game in the play2earn industry inside the Merit Circle ecosystem. They ensure continuity of in-game strategies and are deployed to promote earnings and NFTs with positive value accrual expectancy.

The vaults are where the profits are generated and flow back to all the contributing stakeholders in the Merit Circle ecosystem. The complete MC DAO structure is shown in the image below: 

Merit Circle DAO Structure

What is the Merit Circle (MC) token?

Owning even a single MC token gives the holder a voice about the future of the DAO, be it big or small decision making. While the core contributors to the Merit Circle DAO began with an initial infrastructure and purpose for the organization, the journey ahead is open to change.

Similar to established organizations, the Merit Circle governance forum will be a place where governance members can share their opinion by broadcasting proposals with the other members of the organization. Each token holder can then vote to either accept or reject any proposal. In an aim to satisfy our entire community of gamers, contributors and managers, we’ve ensured a widespread distribution of the MC token. An example of a proposal could be to vote whether the mainDAO will use treasury funds to ensure a soft floor price for the MC token through either buy-back mechanism or burns.

At inception, the governance structure will be implemented based on the battle-tested OpenZeppelin’s Governor contract. Merit Circle (MC) will use Tally as a full-fledged application for on-chain governance, which consists of a voting dashboard, proposal wizard and real time analysis. Their governor contracts are compatible with Tally and implemented at the DAO launch. 

What is the Merit Circle (MC) play-to-earn index?

Merit Circle is a DAO that consists of many different subDAOs. Each subDAO represents an operation in a specific play-to-earn game. At this point, they have one subDAO for Axie Infinity, home to over 1,300 scholars. This is generating a large return on investment for the DAO, contributing to the mainDAO. Then, the mainDAO will have the ability to branch into new games, acquire more NFTs, embrace yield farming strategies and other ways of generating profit.

Since the focus is solely on play-to-earn gaming, by owning a piece of the MC token, you get to participate in dozens of play-to-earn games and precious NFTs. Betting on Merit Circle is betting on the play-to-earn industry to increase in value and size over time. The more profit each subDAO generates, the more the mainDAO can do.

After deploying the MC token into the blockchain airwaves, you’ll be given the chance to stake your tokens. The Merit Circle founders have set aside a substantial amount of tokens in rewards for staking, but this is just a fraction of the rewards you can receive by staking the MC token.

Merit Circle is at the forefront of the play-to-earn industry partnering with multiple games. Through these partnerships, they’ll have the ability to offer exclusive in-game rewards and early access to these games among other exciting structures. Besides that, the aim is to provide the token holders with early access to NFT drops from partnersships, but also from Merit Circle itself.

Unique Features of Merit Circle (MC)

Play2Earn Index
Multiple subDAOs make up the Merit Circle DAO. Merit Circle’s play-to-earn activities in each game are represented by each subDAO. For example, Axie Infinity is assigned one subDAO, which has around 1,500 scholars who provide a high return on investment to MC DAO. The mainDAO will then be able to take part in other profit-generating operations, acquire more NFTs, perform yield farming, and engage in other upcoming games.

Staking, NFT Drops, and Prizes
The Merit Circle (MC) has set aside a large number of tokens as staking prizes, NFT drops, in addition to exclusive in-game awards and early access to numerous games. The MC team also plans to add more rewards for token holders as the DAO grows and branches into new sectors.

Governance Protocol
Acquiring even a single MC token provides the holder a vote in the DAO’s future. While the Merit Circle DAO’s primary contributors established an initial foundation and objective for the organization, the path ahead is unknown and it will be decided through the governance model.

As per the whitepaper of Merit Circle (MC), members of the board of directors can express their thoughts by broadcasting suggestions to the rest of the company, after which each token holder can vote to support or oppose any proposal on the governance platform.

Merit Circle (MC) tokenomics

The total supply will be 1,000,000,000 MC tokens to be minted with no possibility for future inflation. The tokens will be distributed in the Token Generation Event (TGE) to the following stakeholders within the DAO:

Merit Circle Tokenomics

Official website: https://www.meritcircle.io/

Best cryptocurrency wallet for Merit Circle (MC)

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 Merit Circle (MC)?

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).

Ledger Hardware Wallet
Trezor Hardware Wallet

Market Overview

Coinmarketcap.com

Find the latest Merit Circle (MC) price chart, trade volume, market cap, and other vital information to help you with your cryptocurrency trading and investing.

Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:

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).

CMC - How To Buy Merit Circle
Last updated Mar 3, 2022

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