If you’re based in the UK and wish to buy Odyssey – the process is very simple. All you need to do is find a regulated exchange, deposit some funds, and decide how many Odyssey tokens you want to buy.
Cryptocurrencies have become a highly viable investment vehicle. Many people are turning into crypto despite the high volatility of the market. The strong trend that has happened since the beginning of the year has made investors more interested in the crypto market as they look for a way to reap huge returns from the sector.
There are many types of cryptocurrencies that an individual can invest in, including Odyssey tokens. Odyssey is a cryptocurrency that you can invest in when you want to diversify your crypto portfolio from the basic currencies such as Bitcoin and Ethereum. Powered by its native token OCN, Odyssey is a blockchain-oriented platform. The coin helps convert economies such as Lyft, WyzAnt and Airbnb, among others, into valuable tokens. The ecosystem depends on the participation of sellers and buyers alike, with consumers incentivized to enable the review of token providers.
In reading this guide, you will be equipped with knowledge about buying Odyssey in the UK and some things you need to consider before investing. However, it would help if you first considered the high risk of investing in cryptocurrencies before diving into the market.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY ODYSSEY IN THE UK
- A Step-by-step Guide to Buying Odyssey
- How to Sell Odyssey
- Which Wallets can I Use to Hold Odyssey?
- How Odyssey Works
- Key Things to Consider before Buying Odyssey in the UK
QUICK GUIDE: HOW TO BUY ODYSSEY IN THE UK
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Odyssey
- Enter how many Odyssey tokens you want to buy
- Check the details and confirm your purchase
A Step-by-step Guide to Buying Odyssey
When you want to buy Odyssey in the UK, follow these simple steps:
Step 1: Open an exchange account
The first thing you need to do is to open an exchange account. There are several exchanges in the UK, and all these come with different ways for you to buy Odyssey tokens. Before choosing the exchange, you should ensure that it can support Odyssey coins.
Opening an account is a straightforward process. All you need to provide is your names, your contact details, and proof of address. In addition, you may be required to verify some details that you have provided through submitting documents such as your government-issued ID and a proof of address document.
Opening the exchange account will only take a few minutes. To set up the security of your exchange, you need to provide multi-factor authentication. The set-up will keep the account secure and ensure a minimized chance of your account being accessed by someone else without your authorization.
Step 2: Fund the account
The second step is to fund the exchange account, so you can have a way of buying Odyssey tokens. The most basic way of funding your account is by using a credit card or a debit card. You can also link your bank account directly with the exchange and deposit the funds you would like to spend.
Suppose the exchange does not allow the direct purchase of Odyssey using GBP. In that case, you can choose to exchange other cryptocurrencies for the Odyssey coins. Some tokens that you can use in the trade include Bitcoin and Ethereum, the most popular cryptocurrencies.
Step 3: Buy Odyssey
After depositing funds into the exchange, the third step is to buy Odyssey tokens. Buying is also a straightforward process. All you need to do is go to the buy-side of the exchange account, enter the amount you want to spend, confirm the transaction. You will receive a notification in your email stating that your transaction has been processed.
To buy Odyssey tokens, you can place either a market order or a limit order. The market order will enable you to buy the tokens at ongoing prices. In contrast, the limit order will allow you to buy the tokens when the prices reach a certain low level.
Step 4: Store your Odyssey in a crypto wallet
The fourth step is for you to store the Odyssey tokens in a crypto wallet. There are two main types of crypto wallets: a hot wallet and a cold wallet. The hot wallet is the one that allows you to store your tokens for a short while online as you trade them to earn quick returns.
The other type of wallet is a cold wallet that will store your tokens offline. Cold wallets are highly secure because your tokens will not be available online and will be less susceptible to loss. It is ideal for those who want to store Odyssey for long and those who want to hold large amounts.
How to Sell Odyssey
Selling Odyssey is as easy as the process of buying the tokens. All you need is to go to the sell-side of your exchange account and then enter the amount you would like to sell. Confirm the details, and the transaction will be processed.
There are two ways of selling Odyssey tokens. You can sell them for GBP or other cryptocurrencies. Al you need to do is look out for the pair that you want to exchange with. Pairs are often named OCN/ETC, OCN/BTC, or OCN/ETH.
Which Wallets can I Use to Hold Odyssey?
As mentioned earlier, there are two main ways for someone to hold Odyssey tokens. One can use hot wallets or cold wallets. Hot wallets are usually found in the exchange account. They will keep your tokens online, so it is easy for you to retrieve them as you sell regularly.
On the other hand, cold wallets are stored in external devices such as USB drives. They keep your tokens safe away from any online interference.
How Odyssey Works
Odyssey works like all the other cryptocurrencies. The token is based on a decentralized system, ensuring no intermediaries are involved in buying and selling the tokens. Investors of these tokens buy when prices are low and sell when prices are high to earn returns.
Key Things to Consider before Buying Odyssey in the UK
Some things you need to consider before buying Odyssey include:
One of the things you need to assess is the performance of the tokens. Check how Odyssey tokens have been doing in recent months, which will help you make an informed decision.
Cryptocurrencies are highly volatile, so you need to check whether you can manage the high risk of investing in this market.
Check whether Odyssey has other uses other than being traded to make money. When a token has several uses, it ensures that its future price is protected from a significant market dip.
Odyssey is one of the rising stars in the crypto space. The token has become very popular in the market because of maintaining a certain price threshold. Follow the steps above and become part of the crypto community by buying the Odyssey in the UK.
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Virtual currencies are highly volatile. Your capital is at risk.