No financial advise… but proton will pump!
Here where you can buy XPR. Be careful, do not confuse XPR (proton), with XRP (xrp, by ripple)! You can use XRP as workaround to avoid expensive Ethereum gas fees though. Read on.
Getting started
First things first, if you are a new user and never used the protonchain blockchain, you have to install a wallet. I recommend to install Proton Wallet available for Android and iOS. Create an account with e-mail and password and don’t be like Peter Schiff, do (as the wallet suggests) a backup of the private key. This is very important, because if you uninstall the app want to sign in on another device, you need that key or you will lose your account. I recommend to store private keys safely, in an encryped file like keepass, bitwardem, lastpass etc. It’s not mandatory to verify your account, but if you provide your address etc. you may have some advantages, especially as NFT artist/seller.
Next steps
You have a wallet, now you must load it with cryptocurrency in order to buy NFTs. The following are some alternatives.
KuCoin
KuCoin: this is the best place where to buy XPR (and other coins). Withdrawal fees only 1 XPR. Use this exchange also to trader other coins you can’t find elsewhere ;)
Pro:
- best place where to trade XPR
Contra:
- can’t find any negative points besides being an exchange which needs KYC etc. (which is a negative point of every exchange if you dislike KYC)
OKEx
OKEx: one of the biggest exchanges, lot of volume, USDT deposits and withdrawals available via TRC-20 (Tron).
Contra:
- expensive withdrawal fees: around 11'000 XPR last time I checked (they say between 12–20 USD)
Pro:
- the expensive withdrawal fees may still be more convenient than paying expensive USDT ERC-20 gas fees on Ethereum…
Proton Swap
Proton Swap: this is the uniswap on the protonchain. You can convert BNB sent from binance at super cheap withdrawal fees to protonchain XBNB, then swap XBNB (or any other X asset) to XPR.
Browse to the Proton Swap Convert page, make sure your wallet is connected, then select BNB from the Deposit options:
You will get a screen showing you the address and memo to use. Important, do not forget the memo o your funds will be lost.
From the Binance BNB withdrawal page, select “Binance Chain (BNB)
BEP2”. Copy/paste address and memo from the convert page, insert the amount, submit and confirm the withdrawal.
Wait for a few minutes for the withdrawal to be processed, then go to the Proton Swap page and select XBNB from the dropdown. Note: because the liquidity may be low, the price impact may be high. Try to swap small quantities to avoid a high impact:
Bithumb Global
Bithumb Global (or bithbumb pro) is the international version of the Korean exchange, on global you can trade with USDT, which you can deposit and withdraw via TRC-20 token (Tron).
I DO NOT recommended Bithumb Global. Since months, XPR withdrawals are not supported. See screenshot below:
MetalX
Unluckily MetalX is closing by the End of May 2021, so if you have funds on their exchange make sure to withdraw everything asap. MetalX.
Various resources
Disclaimer
If you use my referral links to these exchanges I will earn a little commissions on the fees you will pay to the exchange. Thanks for your support.
Use ProtonSea at your own risk.
