How to Buy Opium Right Now
In this article, we will show you how to buy Opium easily. By the end of this article you would learn how to buy OPIUM with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is Opium? Our review
- Current prices
- Where to buy OPIUM
- How to safely store OPIUM
- Frequently asked questions
Current Opium Price Stats
|OPIUM Price||$6.8695 USD|
|Price Change24h||$-0.8121 USD (-10.57%)|
|24h Low / 24h High||$6.2064 / $7.9320 USD|
|Trading Volume24h||$8,523 USD|
What is Opium? A Review
The Opium protocol is a universal protocol to create, settle and trade virtually all derivatives and financial instruments in a professional and trustless way. It allows anyone to build custom exchange-traded products on top of the Ethereum blockchain. Once created, they can be traded freely via a network of relayers and will be priced according to supply and demand. The Opium Network is a learning ecosystem that can work with the custom logic of both derivatives and oracles. All created positions are represented by ERC-721o tokens that are specially designed for trading financial instruments and can be combined into portfolios and natively traded in combined orders. At the same time, these tokens are backward compatible with the ERC-721 token standard and can be used in existing ecosystems.
Where and How to Buy Opium (OPIUM) Coin
There are 3 steps to purchasing Opium. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports OPIUM: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the OPIUM/BTC trading pairs.
- Buy Opium on the Exchange: Now, you can buy Opium with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different OPIUM pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store Opium Crypto
Once you buy Opium, the next question you'd have is "where do I store my Opiums?". It is quiet easy to store your Opium tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store Opium. If Opium is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling Opium for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.