The GameFi sector is expected to witness massive adoption in the near future. Notcoin, a popular Telegram-based game, is among the projects expected to welcome millions of new players, as a result boosting the demand for its native token NOT.
Do you wish to invest in NOT? Stick around! In this guide, we will explain in detail how to buy the token.
NOT Token Explained
NOT is the native crypto of the play-to-earn game Notcoin. It is used to reward players and serves as an in-game currency. Its tokenomics shows there are 102.45 billion tokens in circulation, with a market capitalization of $812.43 million.
A Step-by-Step Guide to Buying Notcoin (NOT)
Step 1: Create an Exchange Account
The first step to purchasing NOT is registering an account with a trusted crypto exchange that lists the asset. For the purposes of this guide, we’ll use BingX, a top crypto platform available in over 150 countries.
To create a BingX account, download the exchange’s mobile app from the App Store or Play Store. After that, hit the ‘Sign Up’ button and enter a working phone number or email. Alternatively, you may access the BingX exchange using your Google account.
Step 2: Complete KYC
Like any other regulatory-compliant crypto exchange, BingX implements the Know Your Customer (KYC) policy, which helps prevent illegal transactions. That said, users must verify their identities to trade on the platform.
To complete KYC, click ‘Account Settings’ and select ‘Identity Verification.’ Next, follow the displayed instructions and upload a selfie and a government-issued ID. BingX will review your documents within 24 hours.
Step 3: Employ Strong Security Measures
Cybercriminals have targeted crypto exchanges in recent years. This has necessitated the need for proper security measures. To protect your funds, BingX allows you to activate Google Authenticator. This feature is available under the ‘Account and Security’ section.
Step 4: Deposit USDT
You need the USDT stablecoin to buy Notcoin on BingX. There are two ways to fund your BingX account with USDT: deposit via a blockchain network or buy with fiat. We will choose the latter in this guide. To purchase USDT with fiat money, click ‘Buy Crypto’ and then select ‘Quick Buy.’
Next, choose the fiat you want to use to purchase USDT. It could be CAD, AUD, USD, INR, BRL, HKD, and EUR. After that, BingX will display the supported payment methods based on the selected fiat currency. For example, if you pick USD, you can buy USDT using your credit/debit card. Other options include Mercuryo, P2P Merchants, and MoonPay.
Step 5: Convert USDT to NOT
Once USDT tokens have arrived in your BingX account, head to the spot market and look for the NOT/USDT trading pair. Now place a Buy order by specifying the USDT amount you want to spend on NOT. BingX will process your transaction within a few seconds and deposit the NOT coins to your spot wallet.
How to Sell NOT
Converting your NOT tokens to USDT on BingX is pretty simple. First, search for the NOT/USDT trading in the spot market and click ‘Sell.’ Next, enter the NOT amount you wish to sell and place an order. You will then receive USDT.
To cash out the USDT tokens, go to BingX’s P2P trading platform and select your ideal merchant based on supported payment methods and exchange rates. After placing a Sell order, do not release your USDT until you confirm that the merchant has transferred funds to your bank account.
Where Else Can You Buy Notcoin?
As one of the most popular gaming projects, Notcoin has attracted the attention of several leading crypto exchanges. Besides BingX, other platforms that list NOT include MEXC, Binance, OKX, Bybit, Gate.io, and Bitget.
Where to Store NOT
While crypto exchanges simplify the buying process, they are not ideal for storing digital assets, considering they don’t give users full control. Therefore, it is important to transfer your NOT tokens to a non-custodial wallet after buying them. Some of the options to consider include OpenMask, Ledger, TON Space, and TonKeeper.
