GRT is the utility token backing the Graph protocol, and it has recently seen massive growth in its value. Therefore, in this article, we will go through the steps to buy GRT on CoinDCX. Furthermore, we will also look at why you should invest in the Graph Protocol.
Summary (TL;DR)
- CoinDCX provides a massive array of features, including margin trading with up to 6x leverage and Futures trading with up to 20x leverage.
- Graph Protocol provides a decentralized way to query and index blockchain data.
- GRT is the utility token used to incentivize the Graph Protocol.
- To buy GRT at CoinDCX, create an account, complete KYC, deposit funds, and head to the market tab.
- The Graph token can be a sound investment as it is complicated to create something like the Graph Protocol, and they do not have market competition.
- Furthermore, after buying GRT, you can store it in your CoinDCX wallet as you cannot withdraw the tokens.
What is the Graph protocol?
The graph is an indexing protocol for querying data from the various blockchains. Furthermore, anyone can create and publish subgraphs on public networks. The Graph Network will work as a baseline Web3 infrastructure, and it’s a need for providing consumer-grade decentralized apps. For more information, head over to the Graph network in depth.
What is GRT?
GRT is a native ERC-20-based token that can be used as a medium of exchange and a reward for community members who serve as indexers, curators, and delegators. Furthermore, GRT is used to incentivize all network participants to create ever-improving APIs.
What is CoinDCX?
CoinDCX is one of the most effortless platforms and provides various services such as staking, margin trading, lending, futures trading, DCX learn, etc. Furthermore, the DCXgo app charges zero fees on withdrawals and deposits.
To learn more, read our CoinDCX review.
How to buy GRT on CoinDCX?
Steps to create an account
- First, you need to download the CoinDCX application or visit the official website.
- Then you need to open the application and click on the login or register option, which is under the account.
- Now, click on the signup button and fill in all your details.
- Accept the terms and conditions and click on the checkbox.
- Verify the email address, and then login into the CoinCDX go account.
- It is suggested that you complete your KYC verification and add your bank account details to proceed.
How to deposit funds in CoinDCX?
- First of all, click on INR in the deposit screen of CoinDCX.
- On the next screen, “select payment option,” there will be two options for adding money to your CoinDCX account.
- Then, select your preferred deposit option on the following screen and enter the amount you wish to invest. (In the case of a UPI deposit, you can choose MobiKwik first and then proceed with UPI.)
Steps to buy GRT at CoinDCX
- First, log into your CoinDCX account.
- Then, if you’re on a computer, hover over the trade tab and select Spot.
- If you’re on the phone, go to the bottom of the screen and click the market tab.
- Finally, look for USDT and purchase as many as you want to invest in GRT tokens.
- Then look for GRT and select the GRT/ USDT option.
- Now, choose the market/ limit order mode and enter the quantity of GRT you want to buy.
- Finally, click the buy button, and the tokens will be available in your wallet section upon successful completion of your order.
Why should you invest in the Graph Protocol?
The Graph is one of a kind indexing protocol used to query data from various blockchains. Furthermore, since it works as the google of blockchain, it is tough to replicate. Below is some additional functionality of GRT:
- It enables the development of entirely decentralized applications.
- Allows you to query different networks, such as Ethereum or IPFS, using GraphQL, a query language.
- Anyone can make data easily accessible by creating and publishing Subgraphs or open APIs.
Buy GRT on CoinDCX: Pros and Cons
Pros
- CoinDCX provides various trading options such as margin trading, staking, futures trading, etc.
- The platform charges minimal fees.
- 24 x 7 customer support.
- You can use UPI through Mobikwik without paying deposit charges.
Cons
- You cannot withdraw the GRTs you buy.
- CoinDCX might be a bit overwhelming for beginners.
- The platform has low liquidity, hence inaccurate prices.
Buy GRT on CoinDCX: Conclusion
CoinCDX is an Indian crypto exchange platform providing a ton of features to traders across the country. Furthermore, the platform charges no deposit or withdrawal fees, and the trading fee is also lower than the industry average. The graph protocol is one of a kind and is used to query data from blockchains. Furthermore, GRT tokens incentivize the network and reward the indexers, delegators, and curators.
GRT has seen a sudden rise in its value and has gained quite popularity. Furthermore, investing in GRT at CoinDCX is easy as all you have to do is create an account, deposit funds, and buy as many tokens as you want to.
Frequently Asked Questions
Is CoinDCX Safe?
Yes, CoinDCX is safe to use. Moreover, CoinDCX is India’s most secure crypto trading platform. Furthermore, it prioritizes its users’ privacy and does not share KYC information with any other parties. Moreover, it has industry-leading security processes that are continuously updated and tested for any potential breaches. In addition, it has two-factor authentication, which gives a user’s account an extra layer of protection.
What is the GRT crypto?
GRT is the utility token backing the Graph protocol. Furthermore, it is used to reward indexers and curators. You can also trade GRT at almost all the major exchanges; HODLing would be the best idea for now. Although, it is not a bit of financial advice.
What is the CoinDCX referral code?
CoinDCX referral code helps users sign-up to the platform and earn $25 for FREE. Yes, you read it right. Furthermore, once you create an account using a referral code, you can even invite your friends, and both of you can earn $25 each if your friend trades over 5 BTC. So, for example, use our referral code “70297373Dxroxs” to avail of a $25 bonus for free.
