How To Buy Oasis Network (ROSE)?
A common question you often see on social media from crypto beginners is “Where can I buy Oasis Network?” 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 Oasis Network (ROSE)
First, you will need to open an account on a cryptocurrency exchange that supports Oasis Network (ROSE).
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 1000+
Up to $100 in USDT vouchers*
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 Oasis Network (ROSE) 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 Oasis Network (ROSE)
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 Oasis Network (ROSE) or Oasis Network (ROSE) trading pairs. Look for the section that will allow you to buy Oasis Network (ROSE), and enter the amount of the cryptocurrency that you want to spend for Oasis Network (ROSE) or the amount of fiat currency that you want to spend towards buying Oasis Network (ROSE). The exchange will then calculate the equivalent amount of Oasis Network (ROSE) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of Oasis Network (ROSE) 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.
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 Oasis Network (ROSE)?
Oasis Network (ROSE) is a privacy-focused layer 1 blockchain built for open finance and a responsible data economy using the Cosmos SDK. That will allow Oasis to interact with the ecosystem of the Cosmos (ATOM)-enabled blockchain when its Inter Blockchain Communication Protocol launches. Oasis prioritizes use cases that promote data privacy and user confidentiality and aims to power private, scalable DeFi and expand it beyond traders to the mass market. Oasis achieves high throughput and boasts a secure architecture by separating the contract settlement and consensus layers. This separation of layers allows the blockchain to support multiple, customizable runtimes (ParaTimes). It is similar in its architecture to the structure of Avalanche or Polkadot, connecting several different blockchains within one ecosystem.
Now that Oasis has gone live on mainnet, its roadmap for the future features the launch of an Ethereum Virtual Machine (EVM)-compatible ParaTime dedicated to DeFi, launching a decentralized exchange (DEX) and a lending protocol on ParaTime, and onboarding more DeFi apps to it.
Who Are the Founders of Oasis Network?
Oasis Network (ROSE) was founded by Dawn Song and is an unfortunately rare example of a blockchain company founded by a woman. Dawn Song is a professor in the Department of Electrical Engineering and Computer Science at the University of California at Berkeley and has spent considerable time researching and building security and privacy technologies, particularly in areas like cryptography, blockchain and machine learning. She has won an Amazon Web Services Machine Learning Research Award for her work in “Protecting the Public Against AI-Generated Fakes” and has held senior roles at high-growth security firms like Ensighta Security and Menlo Security. Moreover, the network is backed by several high-profile VC firms and investors, such as Andreessen Horowitz, Accel, Binance Labs and many others.
What Makes Oasis Network Unique?
Oasis Network (ROSE) is built to support a high level of scalability, low gas fees and token monetization. It also aims to advance privacy features in order to facilitate the use of sensitive data within DeFi. It achieves scalability by the separation of consensus and execution, thereby allowing multiple ParaTimes to process transactions in parallel and preventing simpler transactions from slowing down more complex ones. As a result, there are no gas wars on Oasis. Since the ParaTime layer (the execution layer) is entirely decentralized, anyone can develop and build their own ParaTime, which can be open or closed, depending on the developer’s needs. Oasis claims this sophisticated solution to be more efficient than sharding and parachains, since it requires a smaller replication factor for the same level of security.
Furthermore, the network has broad support for confidential computing technology. The Oasis Eth/WASI Runtime is an open source example of a confidential ParaTime that uses secure enclaves to keep data private while it is being processed. The network already has several interesting use cases. For instance, Binance is building a CryptoSafe Alliance, allowing exchanges to share threat intelligence data. Thanks to Oasis’ confidential computing technology, exchange data is kept confidential even while it’s being compared. BMW is testing applications of differential privacy in their internal systems and storing the accesses on an Oasis-operated ledger.
What is the Rose Token?
ROSE is the native, capped supply utility and settlement token for the Oasis Network. It is used for staking and delegating on the Oasis Consensus Layer and for smart contract operations that require fees in ParaTimes.
Official website: https://oasisprotocol.org/
Best cryptocurrency wallet for Oasis Network (ROSE)
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 Oasis Network (ROSE)?
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: