How to Buy Small Love Potion in the UK

A Beginner’s Guide to Buying and Selling Small Love Potion Cryptocurrency in the UK

Last Updated July 23rd 2021
5 Min Read

Based in the UK and looking to buy Small Love Potion? If so, The process is very simple. All you need to do is find a regulated exchange, deposit some funds, and decide how many Small Love Potion tokens you want to buy. But how do you know whether Small Love Potion is a good investment, and which broker is best for you?

The UK market has embraced the crypto mode of investing exceedingly well, an outcome that has made investors start channelling their financial assets towards the crypto market. There are many cryptocurrencies today, each featuring its own qualities that make it different from the others. Other than the traditional cryptos like Bitcoin, Bitcoin Cash, Ethereum and Ethereum Classic, among others, there is the Small Love Potion (SLP) crypto launched in December 2019.

Small Love Potion is an ERC-20 cryptocurrency operating over the Axie Infinity Platform. The cryptocurrency is applied in breeding new digital pets termed Axies. Every time an Axie is bred, more Small Love Potions are required. Small Love Potions are earned every time one plays the mode of the PvE Adventure game and the PvP Arena. The best thing about this token is that there is no maximum set limit of SLP supply. 

Before venturing into the crypto market, it would be beneficial if investors consulted with financial advisors and other industry experts. This is meant to help guide you through this highly volatile market's risks and technical intricacies. 

So, if you are interested in buying Small Love Potion but don't know where to start, you will find all the necessary information in this article. We also have a step-by-step guide explaining how to buy Small Love Potion coins in the UK. 

What's in This Guide?

  1. QUICK GUIDE: HOW TO BUY SMALL LOVE POTION IN THE UK
  2. A Step-by-step Guide to Buying Small Love Potion (SLP)
  3. How to Sell Small Love Potion (SLP)
  4. Which Wallets can I Use to Hold Small Love Potion (SLP)?
  5. How Small Love Potion (SLP) Works
  6. Key Things to Consider before Buying Small Love Potion (SLP) in the UK
  7. Conclusion 

QUICK GUIDE: HOW TO BUY SMALL LOVE POTION IN THE UK

  1. Open an account with a cryptocurrency exchange
  2. Verify your account
  3. Go to the deposit section
  4. Go to the platform and select Small Love Potion
  5. Enter how many Small Love Potion tokens you want to buy
  6. Check the details and confirm your purchase

A Step-by-step Guide to Buying Small Love Potion (SLP) 

To start buying Small Love Potion (SLP) tokens, follow the below steps: 

Step 1: Register an exchange account 

The first step is to register an account on an exchange account. There are many exchanges in the UK regulated by the Financial Conduct Authority. Before opening an account, confirm whether the exchange supports Small Love Potion tokens and the GBP. 

Once you have settled on the exchange you want to use, you can now create your account. Account opening is relatively easy. All you need is your official name, phone number, and email address. Because of the heavy regulations imposed on the crypto sector, exchanges are now required to comply with Know-Your-Customer (KYC) rules. To abide by these rules, you need to provide your proof of identity and proof of address. 

To enhance the security of your account, you need to provide a multi-factor authentication process. 

Step 2: Fund your account

After you have successfully created your account, the next step is to fund your account. To do so, you can deposit GBP to the exchange from your bank account. This allows you to buy Small Love Potion (SLP) tokens using fiat currency. 

If your exchange does not enable you to buy SLP tokens using fiat currency, you can purchase other cryptocurrencies. The exchange will list several cryptocurrency pairs that you can use to complete your purchase, such as BTC/SLP or ETH/SLP. If you do not already own these cryptocurrencies, you can start by buying them and exchanging them for Small Love Potion. 

Step 3: Buy Small Love Potion (SLP) 

Now that you have funds or cryptocurrencies in your account that you can use to buy SLP tokens, the third step is to go to the buying section on the exchange. Enter the amount of GBP or crypto you want to exchange for SLP tokens and confirm your order. You will receive a notification after your transaction has been completed. Your new SLP tokens will appear on the exchange account. 

There are two ways that you can purchase SLP tokens: a market order or a limit order. With a market order, the tokens will be bought automatically at the prevailing market prices. With a limit order, you can select the price you would prefer to buy the tokens at. The order will automatically be completed when that price is reached. 

Step 4: Store SLP tokens in a crypto wallet 

After buying crypto, you need to find a way of storing your tokens. Cryptocurrencies are stored in crypto wallets. Exchanges usually offer an online wallet where you can hold tokens and retrieve them whenever you want to trade. 

If you want to keep your SLP tokens locked away for a long time without trading, the most preferred wallet would be a cold hardware wallet. The wallet keeps your tokens offline and minimizes the risk of them being lost. Cold wallets are also a great option if you are buying large amounts of SLP tokens. 

How to Sell Small Love Potion (SLP) 

Selling Small Love Potion (SLP) tokens is also as easy as buying the tokens. The first step is to remove the tokens from the crypto wallet and back to the exchange. Afterwards, you can go to the sell option to exchange and trade your SLP tokens for GBP. 

However, some exchanges may not allow the direct exchange of SLP tokens to cash. In such an instance, you can exchange SLP tokens for other cryptocurrencies such as Bitcoin, which you can later convert into cash. 

Which Wallets can I Use to Hold Small Love Potion (SLP)? 

As mentioned earlier, there are two main categories of crypto wallets. You can store SLP tokens in a hot wallet or a cold wallet. There are many crypto wallets available. The only thing you need to do is select one that will be compatible with SLP tokens. 

If you are a frequent trader, you do not have to remove your crypto from the exchange and into another wallet. Most exchanges offer mobile wallets through an App. However, if you want something safe and secure, cold offline wallets are the best option. 

How Small Love Potion (SLP) Works 

Like other altcoins, Small Love Potion (SLP) was created to solve the limitations present on the Bitcoin network. The token is highly scalable, and its network offers high transaction speeds compared to Bitcoin’s network. 

Even though recently created, SLP tokens have grown to become one of the most popular cryptocurrencies. The Small Love Potion network is a protocol used to create and connect Ethereum-based blockchain networks. 

Key Things to Consider before Buying Small Love Potion (SLP) in the UK 

Before investing in SLP tokens, you need to consider the following: 

Availability 

The first thing you need to consider is the availability of SLP tokens in the market. You should invest in SLP if there is enough in circulation. This will make it easier for you to fill your buy and sale orders. 

Performance 

You need to also look at SLP’s price history. Evaluate its lowest prices and its all-time highs to understand how the level of volatility. It would be best to look at the number of projects supported by the Small Love Potion network because this also affects SLP tokens. 

Competition 

Look at SLP’s competitiveness in the crypto market. The coin should be competitive enough not to be overshadowed by other major cryptocurrencies such as Bitcoin and Ethereum

Conclusion 

Small Love Potion (SLP) has made waves in the crypto sector after becoming one of the leading cryptocurrencies. The token’s value has increased for the better part of this year, making it a valuable investment. If you want to buy Small Love Potion (SLP) tokens, open an exchange account and store your currencies in a secure crypto wallet. 

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