SideShift Token (XAI) is the native ERC20 token of SideShift.ai, a non-custodial cryptocurrency exchange that allows users to swap between cryptocurrencies without creating an account. XAI can be staked on SideShift.ai to earn a share of the exchange’s revenue, and it is also used to reward users who refer new customers to the platform.
There are a few different ways to buy XAI. One way is to purchase it directly on SideShift.ai. To do this, you will need to create a wallet that supports ERC20 tokens, such as MetaMask or Trust Wallet. Once you have created your wallet, you can go to the SideShift.ai website and click on the “Buy XAI” button. You will then be able to select the amount of XAI you want to purchase and pay for it with a variety of cryptocurrencies.
Another way to buy XAI is to purchase it on a decentralized exchange (DEX). DEXs are peer-to-peer exchanges that allow users to trade cryptocurrencies without the need for a central authority. Some popular DEXs that list XAI include Uniswap, SushiSwap, and 1inch.
Finally, you can also buy XAI on a centralized exchange (CEX). CEXs are traditional cryptocurrency exchanges that require users to create an account and go through a verification process. Some popular CEXs that list XAI include Binance, Coinbase, and Kraken.
Here are the steps on how to buy XAI on SideShift.ai:
Create a wallet that supports ERC20 tokens.
Go to the SideShift.ai website and click on the “Buy XAI” button.
Select the amount of XAI you want to purchase.
Choose the cryptocurrency you want to pay with.
Review the transaction details and click on the “Buy” button.
Once the transaction is complete, your XAI will be deposited into your wallet.
Here are the steps on how to buy XAI on a DEX:
Connect your wallet to the DEX.
Search for XAI in the DEX’s list of tokens.
Select the amount of XAI you want to purchase.
Choose the cryptocurrency you want to pay with.
Review the transaction details and click on the “Swap” button.
Once the transaction is complete, your XAI will be deposited into your wallet.
Here are the steps on how to buy XAI on a CEX:
Create an account on the CEX.
Verify your account.
Deposit the cryptocurrency you want to use to purchase XAI.
Go to the CEX’s trading page and search for XAI.
Enter the amount of XAI you want to purchase and click on the “Buy” button.
Once the transaction is complete, your XAI will be deposited into your account.
How to Buy SideShift Token (XAI): A Step-by-Step Guide
Step 1: Set up a Wallet:
Before you can buy SideShift Token (XAI), you need to have a compatible cryptocurrency wallet that supports ERC-20 tokens. Consider using popular wallets like MetaMask, MyEtherWallet, or Trust Wallet. Ensure that you store your wallet’s private keys securely, as they grant access to your funds.
Step 2: Choose a Cryptocurrency Exchange:
Next, you’ll need to select a reputable cryptocurrency exchange where you can purchase SideShift Token. Some well-known exchanges that list XAI include Binance, KuCoin, and Uniswap. Research and compare the fees, security measures, user experience, and supported trading pairs offered by these exchanges.
Step 3: Register and Complete the Verification Process:
Once you have chosen an exchange, visit their website and create an account. Provide the necessary information, such as your email address and a strong password. Some exchanges may require identity verification to comply with Know Your Customer (KYC) regulations. Follow the instructions provided and complete the verification process if required.
Step 4: Deposit Funds:
After successfully creating an account and completing the verification process, you need to deposit funds into your exchange account. Most exchanges accept popular cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) for trading. Deposit the desired amount of cryptocurrency into your exchange wallet.
Step 5: Find the XAI Trading Pair:
Once your funds are deposited, navigate to the trading section of the exchange. Search for the SideShift Token trading pair, usually denoted as XAI/ETH or XAI/BTC, depending on the exchange. This pair represents the exchange rate between SideShift Token and the chosen cryptocurrency.
Step 6: Place an Order:
Now, you are ready to place an order to buy SideShift Token. Determine the amount of XAI you wish to purchase and set the price you are willing to pay per token. There are two types of orders you can place: market orders and limit orders. A market order is executed immediately at the prevailing market price, while a limit order allows you to set a specific price at which you want to buy XAI.
Step 7: Confirm the Purchase:
Double-check the details of your order, including the amount of SideShift Token and the total cost. Confirm the purchase, ensuring that you have sufficient funds in your exchange wallet to complete the transaction. Take note of any applicable fees charged by the exchange for the trade.
Step 8: Securely Store Your SideShift Token:
Once the transaction is completed, the SideShift Tokens will be credited to your exchange wallet. However, it is recommended to transfer your tokens to a personal wallet for increased security. Locate the withdrawal option on the exchange and provide the address of your wallet to initiate the transfer. Make sure to double-check the address to avoid any mistakes.
Buying SideShift Token (XAI) is an exciting opportunity for crypto enthusiasts seeking to diversify their portfolios. By following the step-by-step guide provided in this blog post, you can navigate the process with confidence. Remember to research the market, choose a reliable exchange, and take necessary security measures to protect your investments. As with any investment, it is essential to conduct your due diligence and make informed decisions.
