If you’re based in the UK and wish to buy Spark – the process is very simple. All you need to do is find a regulated exchange, deposit some funds into your account, and decide how many Spark tokens you want to buy.
Following the boom of cryptocurrencies witnessed since January this year, some previously unknown tokens, such as Spark, have gained way into the crowds. They are now heavily being adopted as an investment tool.
Spark token is the native token of the Flare Network, and there is a maximum supply of 100 billion Spark (FLR) tokens. Spark tokens are used to collateralize the trustless issuance of FXRP.
By reading this guide, you will be equipped with deep knowledge regarding what cryptocurrencies are. The guide will take you through all the relevant steps in an easy way and ensure that in no time, you are buying Spark tokens and investing in this space that has quite the potential.
What Is In This Guide?
- QUICK GUIDE: HOW TO BUY SPARK IN THE UK
- Where To Buy Spark (FLR) In The UK
- A Step-by-Step Guide to Buying Spark in the UK
- How to Sell Spark Tokens
- Which Wallets Can I Use to Hold Spark Tokens?
- How Spark Works
- Key Things to Consider Before Buying Spark in the UK
QUICK GUIDE: HOW TO BUY SPARK (FLR) IN THE UK
- Open an account with a cryptocurrency exchange
- Verify your account
- Go to the deposit section
- Go to the platform and select Spark
- Enter how many Spark tokens you want to buy
- Check the details and confirm your purchase
Where To Buy Spark (FLR) In The UK
Are you looking at how to buy Spark in the UK? Well, there are hundreds of crypto exchanges and brokers in the UK. This can make it hard to know which platform is right for you.
List of the best Exchanges to buy Spark (FLR) in the UK:
Looking where to buy Spark in the UK right now? Below you will find 4 of the best brokers that allow you to buy Spark in the UK.
- eToro - Best broker to buy Spark (FLR) in the UK
- Binance - Best exchange to buy Spark UK for asset diversity
- Coinbase - Best exchange to buy Spark (FLR) for beginners
- OKEx - Best broker to buy FLR UK for low-cost
A Step-by-Step Guide To Buying Spark (FLR) In The UK
If you want to start investing in Spark, follow these simple steps:
Step 1: Open an exchange account
The only place where you can buy cryptocurrencies is from a crypto exchange. So, the very first step you need to take is to open an exchange account. The UK is home to many exchange accounts. However, you have to choose the exchange that supports Spark and the GBP.
When opening an account, you will provide your full name, telephone number, and email address. You may be required to add other details such as a government-issued ID or a proof of address that needs to be verified by the exchange before you are allowed to use the account.
To keep your account safe, you also need to set a password and a multi-factor authentication process. This will make it easier for you to recover your account if you forget any details.
Step 2: Deposit funds to the exchange
After opening your account, the second step is to deposit funds in it. The easiest way for you to do this is by linking your bank account and depositing the amount of funds you want to spend. You should deposit funds in GBP to buy FLR tokens in the UK.
If you do not have any funds in your bank account to link with the exchange, you can also use other crypto holdings and exchange them for Spark tokens. However, this option is not available on all exchanges. For example, if you already own BTC on the exchange, you can choose the pairing BTC/FLR to trade Bitcoin for Spark.
Step 3: Buy Spark
Once you have funds in your exchange account, the next step is to purchase Spark. The purchase will only take a few minutes. Go to the buy section on the exchange and key in the amount of funds or crypto you want to exchange for FLR tokens. Afterwards, confirm your transaction, and a notification will be sent to you informing you that the transaction has been completed successfully.
If the current prices do not seem favourable to you, you do not have to buy FLR tokens just yet. There are two types of orders you can place. A market order allows you to buy FLR tokens at the current market prices. A limit order will complete your order when the price of FLR tokens reached a certain price.
Step 4: Store your Spark Tokens in a crypto wallet
The last and most important step is to store your Spark tokens in a crypto wallets. It would be best if you had a place where you can hold these tokens to ensure they are kept safe from loss and misplacement.
There are two main ways of storing crypto tokens; a hot wallet or a cold wallet. The hot wallet is the one you use for small crypto holdings. The wallet is found online, mostly on the exchange account. The cold wallet is for large FLR holdings or when you do not want to sell for a long time. The wallet keeps your tokens offline.
How To Sell Spark Tokens (FLR)
The most common way of making money from cryptocurrencies is buying and selling when the prices are high. If you decide it is the right time for you to sell your holdings, you can follow the same step as the buying process.
Go to the sale section on the exchange and enter the FLR tokens you want to sell. You can sell the tokens either for GBP or for other cryptocurrencies like Bitcoin. Once you have completed your transaction, you can withdraw your earnings from the crypto exchange.
Which Wallets Can I Use To Hold Spark Tokens (FLR)?
Like mentioned earlier, there are two main types of crypto wallets you can use to hold cryptocurrencies. Online wallets are hot wallets that are used by retail traders who only want to hold cryptocurrencies for a short time. The wallets are held online, so you can readily sell your Spark tokens whenever you want to.
On the other hand, cold wallets are those you use to hold cryptocurrencies offline. The wallets can be stored on external devices such as USB drives. The biggest advantage of cold wallets is that they keep your tokens safer compared to hot wallets.
How Spark (FLR) Works
Sparks serves to enable the collateralization of the trustless issuance of FXRP on Flare. These tokens will also be used to generate useful data on Flare through an oracle system, and they are also used for network governance and spam prevention
Key Things To Consider Before Buying Spark (FLR) In The UK
Before buying Spark, you need to consider the following:
Level of risk
You also need to assess the level of risk involved in investing in Spark. Afterwards, you can gauge whether it will be a worthy investment for you or not.
It would help if you looked at how Spark has been performing in recent years before buying the token.
Look if there are areas where Spark is being used for developing DeFi protocols. The more usable a token is, the higher the chances of it appreciating.
Spark is gaining ground and has become one of the most popular cryptocurrencies. Investing in Spark is risky, but you can also make quick returns from speculation. To buy and sell Spark, follow the steps above and consider the stated factors to make a better investment.
eToro – Best Exchange To Buy Spark In The UK
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.