What is Kaspa Binance ($KAS)?
Kaspa Coin ($KAS) is a confusing cryptocurrency to purchase. There’s no perfect guide out there explaining everything you need to know. That is why we created this beginner’s guide. In this post, I will walk you through how to buy Kaspa Coin so that you can start trading/investing in it.
What is Kaspa Coin ($KAS)?
Kaspa is a proof-of-work cryptocurrency that puts the GHOSTDAG protocol in place. Unlike traditional blockchains, GHOSTDAG doesn’t orphan blocks created in parallel but allows them to coexist and orders them in consensus. The Kaspa blockchain is a blockDAG.
Kaspa is unique in its ability to enhance high block rates while maintaining the level of security offered by proof-of-work environments. Kaspa’s current major net operates at 1 block per second.
Down the road, core developers and researchers will work on stretching the ability to the limits — think 10 or even 100 blocks per second.
How to Buy Kaspa Coin ($KAS)?
No matter what people say, it’s easy to purchase Kaspa Coin with a credit card. Your initial step will always be to buy BTC/ETH/USDT with your credit card.
They can then be converted to Kaspa Coin. Transfer BTC/ETH/USDT to an exchange that supports Kaspa Coin. Lastly, exchange it for Kaspa Coin. Please follow our step-by-step guide below on how to buy Kaspa Coin ($KAS).
The well-known website Coinbase has already enabled trading for Bitcoin Cash, Ether, and Litecoin, but what about what’s commonly referred to as altcoins? Here’s how to buy Kaspa Coin ($KAS)!
Step 1: Register on the Fiat-to-Crypto Exchange
The first thing you will have to do is register with one of the many exchanges that allow fiat-to-crypto purchases. You can buy cryptocurrency on exchanges or peer-to-peer.
On exchanges you can use fiat money to buy cryptocurrency, for example, you can use USD to buy Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC).
In this case, we have to buy USDT (USDT) from Coinbase.
Coinbase is also one of the biggest crypto exchanges that accept fiat deposits. Use the link below to register at Coinbase and you will receive a free amount of $10 worth of BTC after buying $100 worth of cryptos.
Sign up on coinbase & get $10!
This can be done by visiting the website and clicking “Sign Up.” You will be required to input your name, and email address, create a password, and verify your email address.
Verify Coinbase Account
After your account has been created, you will need to go through the KYC (know your customer) process. The KYC process also requires you to provide proof of identity and proof of residency.
During the KYC process, you may need to add a picture of yourself holding up your government-issued ID and a picture of yourself holding up your driver’s license or passport. Once this is concluded, you should have successfully registered and can now buy cryptocurrency!
Step 2: Buy USDT with Fiat Money
Select USDT and enter how much money you want to spend/how many coins you want to purchase in the windows at the bottom of the page.
Once this is done, click on the Buy button. Now you will need to confirm your purchase. Do this by pressing the Confirm purchase button. You now own some USDT. However, do not close Coinbase just yet — we’ll use it later!
Note: If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It’s cheaper to use bank transfers, but it’s slow — it can take up to a week to receive your coins. When your payment details are verified, click on the ‘buy/sell’ button in the top menu.
Step 3: Transfer USDT to an Altcoin Exchange
You can use USDT to buy most coins and tokens in the market. The quickest way to buy Kaspa Coin is to transfer your USDT to Binance (or the exchanges listed above for US traders), convert USDT into BNB, then send it to your own wallet via Binance Smart Chain and swap your BNB for KAS on PancakeSwap.
Now you will need to find an exchange that allows you to deposit USDT and trade it for KAS. As Kaspa Coin is currently listed on PancakeSwap we will guide you through how to convert your USDT on the platform.
We’ll be using Binance, but there are many other exchanges like ByBit, KuCoin, Kraken, Gate.io, and MEXC that offer Altcoins.
Step 4: Convert Your USDT into BNB on Binance
Now head over to Binance.com and create an account there. It’s a super easy process that shouldn’t take more than five minutes.
Once you’re set up on Binance, it’s time to convert some USDT into BNB. You can do this by going to “Funds” and then “Deposits & Withdrawals,” where you’ll see a list of different coins supported by Binance. Scroll down until you find USDT in the list and click the Deposit button for it.
Binance will give you a unique address to send your coins to copy this address and paste it into your Coinbase wallet.
Once you’ve transferred your USDT to Binance, it will take about 10–15 minutes for your funds to become available for trading. Once they’re available, trade your USDT to Binance Coin (BNB).
Step 5: Transfer Bnb to Your Own Wallet
Okay, so this is the trickiest part of the process. You need to create your own wallet to hold both BNB and KAS.
Now head over to PancakeSwap. First of all, if you haven’t done so already, please sign up for an account by clicking on the yellow button in the top right corner. That’s where you’ll store your Kaspa Coin tokens and access a wide range of new features.
Once you’ve signed up, click on the “Connect Wallet” button. This will open MetaMask, a browser plugin that will allow you to send your BNB tokens to PancakeSwap.
If you’ve already got a Metamask account, skip ahead to the next part. If not, go to MetaMask.io, click “Get Chrome Extension”, and install it.
If this is your first time connecting with MetaMask you should be asked immediately if you would like to add the Binance Smart Chain network to your MetaMask, please do proceed with this step as you must make sure you are sending your BNB via the right network.
Then go to Binance and click on the “Wallet” tab at the top of the screen.
Click on “Withdraw”, then search for “BNB”. Paste your own wallet address where you see an option named recipient address to withdraw BNB; then on the transfer network, make sure you have selected Binance Smart Chain (BSC) or BEP20 (BSC).
Click submit and follow the verification steps afterward. After successfully withdrawing your BNB it should arrive very shortly in your Metamask wallet.
Now you’re ready to buy Kaspa Coin!
Step 6: Connect MetaMask with PancakeSwap
Once Metmask is ready, head over to PancakeSwap, click “Connect Wallet” at the top and choose Metamask.
Here’s how you can connect to PancakeSwap and start swapping tokens using MetaMask:
1. Log into your MetaMask account.
2. Click “Settings” on the top left corner of the browser extension, then “Advanced” and click “Connect to custom network” at the bottom of the advanced settings.
3. When you click “Connect to custom network” you will be prompted with a pop-up window asking you for the RPC URL and chain ID of PancakeSwap. You can find these at https://pancakeswap.info/
4. Add a new custom RPC with the following information:
Network Name: PancakeSwap (or any name you like)
New RPC URL: https://rpc.cakeswap.fi/
ChainID: 0x91 (For Mainnet) or 0x82 (For Testnet)
Symbol: CAKE
Block Explorer URL: https://bscscan.com/ (or any other explorer site of your choice)
5. Click Save, then select PancakeSwap from the list of networks that appears when you click the network name on MetaMask.
Step 7: Swap BNB for KAS
Now select Trade > Exchange on the left sidebar.
On the top field enter the amount of BNB you would like to exchange for $KAS. You can go back and change this number anytime before proceeding with “Swap”.
Now click on the other field and choose Kaspa Coin from the list. The corresponding amount of Kaspa Coin should show up immediately. Verify and then proceed with “Swap”.
Now MetaMask should pop up and ask you if you want to allow PancakeSwap to spend your BNB tokens, click confirm. Wait for the confirmation popup until it shows “Transaction Submitted”.
You can view your Kaspa Coin in your MetaMask Wallet. Congratulations! You have finally purchased Kaspa Coin ($KAS)!
