How to Buy Psilocybin Right Now
In this article, we will show you how to buy Psilocybin easily. By the end of this article you would learn how to buy PSY with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is Psilocybin? Our review
- Current prices
- Where to buy PSY
- How to safely store PSY
- Frequently asked questions
Current Psilocybin Price Stats
|PSY Price||$0.0536 USD|
|Price Change24h||$0.0003 USD (0.49%)|
|24h Low / 24h High||$0.0519 / $0.0548 USD|
|Trading Volume24h||$0 USD|
What is Psilocybin? A Review
Psylocybin is a Proof of Work & Delegated Proof of Stake hybrid cryptocurrency, created as a tribute to Psilocybin mushrooms also known as "Magic Mushroom". PSY is a sha256d currency and has an average 1 minute block time.
Where and How to Buy Psilocybin (PSY) Coin
There are 3 steps to purchasing Psilocybin. 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 PSY: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the PSY/BTC trading pairs.
- Buy Psilocybin on the Exchange: Now, you can buy Psilocybin with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different PSY pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store Psilocybin Crypto
Once you buy Psilocybin, the next question you'd have is "where do I store my Psilocybins?". It is quiet easy to store your Psilocybin 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 Psilocybin. If Psilocybin 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 Psilocybin 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.