How to Buy JPEG’d [The Ultimate Guide 2022] , Coinstats Blog
JPEG’d is a decentralized lending protocol on the Ethereum blockchain that enables non-fungible token (NFT) holders to use their NFTs as collateral to open collateralized loan positions (CDPs).
JPEG aims to bridge the gap between DeFi and NFTs To bring more people to DeFi and increase the use cases of NFTs.
JPEG’d has 2 tokens, JPEG (native token) and PUSD (stablecoin).
If you are looking for a good investment opportunity then this guide may be right for you. Read on to learn everything you need to know about JPEG’d (JPEG) and where, why, and how to buy JPEG’d (JPEG).
Let’s fix it!
what is jpeg
JPEG’d is a decentralized protocol for NFTs built on the Ethereum blockchain. Users can deposit NFTs as collateral to borrow native stablecoin PUSd. This is the creation of a new DeFi primitive known as irreplaceable debt position (NFDP)., As a result, NFT holders can earn returns in DeFi, trading etc. even if they are the owner of their JPEG.
The JPEG’d team has stated that initially, you can only borrow for cryptopunks; However, in future, you will be able to make all types of NFT deposits.
The DAO will ensure that the PUSd stays as close to $1 as possible. Incentives will be provided to any participant providing liquidity for the PUSd.
The native token of the JPEG protocol is called JPEG. JPG tokens are used to mint, buy, sell and transfer NFTs on the JPEG platform. Here are the JPEG key use cases:
- liquidity mining
- the prize.
JPEG is a governance token. Users need tokens to vote on rising debt, agreed-upon value of rare NFTs, interest charges, changing loan deposit limits, newly approved NFTs, etc. Holders of the JPEG token can vote on which projects receive funding from the JPEG Foundation. JPEG enables non-fungible tokens for shared ownership and utility. By owning a JPEG token, holders own shares in the NFT Vault and take advantage of it every time an NFT is created or sold.
JPEG holders can make or vote on governance proposals that affect the future direction of the protocol, including, among other things, changes to credit limits on vaults, interest charges, insurance costs and credits for specific NFTs. limits are included.
Additionally, users who bet their $JPEG will receive a portion of the fees generated by the protocol.
The JPEG protocol provides a new way to buy, sell, and use NFTs, giving users an insight into how the community operates and how the ecosystem develops.
JPEG is trading for the first time since March 2022. JPEG currently has an estimated market capitalization of US$242,145,589.07. A total of 69,420,000,000 $JPEG tokens will be distributed as follows:
- DAO – 35%
- Donation Event – 30%
- Team – 30%
- Consultant – 5%
Check JPEG’d price history, 24-hour trading volume, circulating supply and more, and get live updates on JPEG’d prices on CoinStats, one of the best crypto platforms.
Unlike other major cryptocurrencies, you cannot buy JPEG’d instantly with fiat money. You must first buy bitcoin or USDT at a fiat exchange and transfer them to an exchange that supports JPEG.
where to buy jpeg
Sushi Swap (WETH/JPEG), Uniswap (V3) (WETH/JPEG), LBank (JPEG/USDT), and MEXC Global (JPEG/USDT) are some of the centralized exchanges (CEX) that support JPEG’d (JPEG) trading We do. ,
The following is a comprehensive list of exchanges that support JPEG trading in several trading pairs:
Remember that you can’t buy JPEG’d instantly with fiat (such as PayPal or a bank card). To buy JPEG’d (JPEG), you must first buy another cryptocurrency, which can be bought with fiat currency, such as (USDT, BTC, ETH, or BNB), and then send them to a crypto exchange or crypto wallet Which supports JPEG. ‘D (JPEG) Trading.
Many crypto exchanges and wallets offer over-the-counter (OTC) trading of USDT and its purchase with fiat currency. After that, you can use a crypto exchange or crypto wallet to swap USDT for JPEG.
How to Buy JPEG’d
To buy crypto including JPEG, you should compare cryptocurrency exchanges to select the best trading platform with the features you need, such as low trading fees, easy-to-use interface, and 24-hour customer support. Also, remember to check if the cryptocurrency exchange supports your preferred payment method, such as a credit or debit card, another cryptocurrency, or bank transfer. Some exchanges offer advanced trading tools and services, such as limit and market orders, crypto loans and crypto staking.
Let’s explore the steps to buy JPEG:
step 1: After selecting a trusted exchange, the next step is to create an account on its official website or app. If the exchange offers one-step signup with your social account (eg, Binance), you can sign up using your social account immediately. Parameters vary by platform. Most purchases on centralized exchanges will require personal information such as your name, email address, contact number, Social Security number, home address, and a copy of your driver’s license, passport, or government-issued ID. After submitting your account creation application, check your email for the account verification code, enter the code to validate your account, and begin trading.
Tip: To stay safe, search for a ‘secure’ certificate, which acts as a verification of the site’s authenticity and should appear in your address bar, and bookmark legitimate sites to avoid confusion in future searches.
step 2: Once you complete the KYC process, you will need to set up two-factor authentication to ensure the security of your assets.
step 3: JPEG, unlike other major cryptocurrencies, cannot be bought with fiat money. You need to buy one of the major cryptocurrencies, i.e., we recommend USDT as an example. You can also buy Bitcoin or Ethereum on Binance and then trade these cryptocurrencies for JPEG.
You can also use easy-to-trade site Changelly, especially when it comes to buying bitcoins with a credit card. It offers an automated cryptocurrency exchange that lets you Exchange crypto fast and buy them using a credit card.
Tip 1: You can use the CEX service, which offers OTC trading, or a financial services platform (Pioneer, PayPal, or Robinhood) that accepts deposits via bank accounts or credit cards.
Tip 2: You can use a trading service (Cex.io or LocalBitcoins) or sell to buyers using direct bank transfer, PayPal, or other online payment systems.
step 4: Transfer your newly purchased USDT, ETH, or BNB to an exchange that offers spot-market JPEG’d (JPEG) trading. If the platform you are using supports both receiving USDT, ETH, or BNB with fiat and trading pairs such as JPEG’d (JPEG)-USDT, JPEG’d (JPEG), you will need a No need to switch to other platform – ETH or JPEG’d (JPEG) -BNB.
Step 5: Swap USDT, ETH, or BNB for JPEG’d (JPEG).
Step 6: Once you have completed your JPEG’d purchase, the next step is to select a crypto wallet to securely store your JPEG’d (JPEG) tokens. Your coins may be saved in your brokerage exchange wallet, but due to the nature of wallets in exchanges, they will always be online, therefore exposing some aspects of vulnerabilities. We strongly recommend that you create a private wallet with your own set of keys. Depending on your investment preferences, you can choose between a software wallet and a hardware wallet.
CoinStats Wallet is one of the best software wallets to manage all your DeFi and crypto in one place – a single crypto wallet for buying, selling, swapping, tracking and earning on your crypto!
Hardware wallets, also known as cold wallets such as Ledger or Trezor, offer military-level security as they include secure offline storage and backup functionality. These are better suited for experienced users with a large number of tokens.
Here are some hot wallets for storing your JPEG’d:
- trust wallet
- nuclear wallet
- wallet guard
tip: Be sure to keep your seed phrase safe, and take note of your wallet address.
If you are new to cryptocurrency, we recommend against investing a large amount in a single digital asset. Diversifying your portfolio with a variety of digital assets can help reduce risk.
The JPEG protocol provides a new way to buy, sell and use NFTs. JPEG aims to bridge the gap between DeFi and NFTs by enabling any NFT collection to receive a line of credit using their NFTs as collateral over the protocol.
In this guide, we’ve covered everything about buying JPEG’d (JPEG), where to buy it, and why you should consider investing in this project.
If you are looking for a good investment opportunity in cryptocurrency, consider investing in JPEG’d. Thanks for reading!
How to Buy JPEG’d [The Ultimate Guide 2022] , Coinstats Blog
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