If you have any interest to buy Blueshift (BLUES), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
There have been several phishing cases reported over the past years that are imitations to the original site, it is essential to scrutinize the URL to the website keenly. First, be on the lookout for the ‘Secure’ certificate that should pop up in your address bar and that acts as a confirmation of the site’s genuineness. Second, to be extra safe while trading on the platform, ensure to bookmark the authentic site to evade any confusion in future searches.
1.2 Fill in your trading details
You have to fill in your details by going to the ‘’Register” tab found in the right-hand corner of the website’s page and fill in your trading details. For instance, you will need to fill in your mobile number or you choose to use your email address. For the email address, it is necessary to use your main email that you can access easily and the most secure one since you will need it to sign in to your Binance account always.
You also need to choose a strong password for your email; a strong password should comprise a mix of numbers, symbols, upper and lower-case letters. You will receive a 6-digit code via the email you provided as your account’s verification code and for completing the registration process.
1.3 Allow 2FA-Two-factor authentication (Optional)
To make your account more secure you need to allow use of a two-factor authentication after your first log in. Trust me; it is vital to set up the 2FA because it makes your account more secure from any hacking activity!
Every time you log in with the two-factor authentication, you will need to provide a unique code once your type in your email and password. To get your unique code, use the Google authenticator app downloaded into your smartphone.
Step 2: Buying your first Bitcoin (BTC)
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didn’t allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Blueshift (BLUES).
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
- Move your mouse’s cursor to ‘Buy Crypto’ tab found on the top bar and activate the dropdown menu. Then choose the currency, For instance, US Dollars, and click the ‘Credit/Debit Card’ to lead you to the next step.
- You be led to the next page; in this page you will see options to choose the desired Bitcoin (Select BTC), and the amount you need to spend to buy your choice Bitcoin amount. The total amount you need to spend will be displayed according to the Bitcoin amount you request and the matching market price at that time (inclusive of all fees). However, you can choose to first set the total charge then the system will automatically calculate the order amount for you.
- Fill in your credit card details and personal information too. Once done, you need to click “Pay now” and give it a moment to verify your details.
- You will be required to verify your email and phone number if it happens to be your first simplex payment via a code send through your email or an SMS. Complete the verification process by opening the link in your email and type in the code you receive via SMS. Once you do all the above, you can click “Continue”.
- Verification of identity follows next via the use of an official document. Basically upload your identification document photo accompanied by your personal details and click the “Upload Document” tab.
Lastly, your personal document will be approved once verified by the system and an email send to show the confirmation of order purchase. Subsequently, your Binance account is credited with the purchased BTC or Ethereum.
Step 3: Transferring Your Cryptos to an Altcoin Exchange Huobi
Now let me show you how to Blueshift (BLUES) using your investment from Binance.
But not every crypto can be traded in Binance we need to transfer our coins to an exchange that Blueshift (BLUES) can be traded.
I will show you how to use Huobi which is a famous exchange to trade altcoins. We will use the link below to register your new account.
Once you have completed similar processes as you have done before with Binance you are ready to transfer our Bitcoins.
Step 4: Depositing BTC to Exchange
After you have created your trading account setup at one of the exchanges that trades Blueshift (BLUES), you will need to transfer your BTC from Binance to that specific exchange.
Usually done through a wallet system. to huobi deposit move your mouse over to “Balances” on the top right and click “Exchange Account”. Look for “BTC” from Token section and copy the given “Deposit Address”
To do this part may be a little difficult but don’t worry, it is easier than a bank transfer. Then copy your unique BTC wallet address and go back to Binance.
Then move your cursor to “Wallet” on the right hand side of the topbar and once the popup shows up, click on “Fiat and Spot (Deposit & Withdrawal)”. Look for BTC in the list and click on “Withdraw” on the right hand side.
You have to paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Type down the amount that you want to withdraw (you may click the Max button if you want to withdraw all).
Next, click on the Submit button to begin with the withdrawal process. To proceed with the withdrawal, Binance may ask you for your 2FA code and also you will have to confirm the withdrawal with an e-mail.
That’s all, now you should wait for a while so that the blockchain to confirm your transaction.
Step 5: Trade Blueshift (BLUES)
Now you have to go back to Huobi to buy Blueshift (BLUES) with the Bitcoins you sent.
Move your mouse over “Spot Trading” and click “Exchange” then you will see trading menu. Look for huobi trade in the left column make sure to select “BTC” pair and in the search bar type in “BLUES”.
After you move your coin click on it and now you will see a price chart of BLUES/BTC in the middle of the page. Select the “Market” tab as that is the Easiest way of buying orders.
Also, you can either type in your amount or choose what portion of your BTC deposit you would like to spend on buying, by clicking on the percentage buttons.
Once you have confirmed everything, click “Buy BLUES”. Now you own your BLUES!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Blueshift gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Blueshift securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Has an easy design that allows the use on desktop or laptop, or even smartphone and tablet through Bluetooth connection.
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Blueshift for some long time, you need to find ways to ensure it stays safe safe,
However Binance is the most safe cryptocurrency exchange, in the past few years there have been hacking incidents and funds were lost. Because of the design of the wallets in exchanges, they will be accessible always via the internet (“Hot Wallets” as they are called), therefore exposing certain aspects of weaknesses.
Thus safeguard your cryptos by putting them in “Cold Wallets”, where the wallet will only have access to the blockchain(or simply “go online”) when you send out funds,. This reduces the chances of being hacked. For example, use a paper wallet which is a type of free cold wallet. It can also be defined as an offline-produced pair of public and private address and that you write on a paper for keeping safely with you. But, it is not permanent and may be faced by certain risk.
Thus, Hardware wallet is therefore the best compared to cold wallets. Since they are usually USB-enabled devices that can hold the key information of your wallet in the safest manner. Also they are designed using military-level security and their firmware’s are continuously upgraded by their manufacturers and this makes them extra safe to use. For example, Ledger Nano S and Ledger Nano X and are most common hardware wallets, you can buy one at $50 to $100 depending on the specifications they have. I highly recommend these for holding your assets because these wallets are a worthy every penny according to my experience and opinion.
Frequently Asked Questions
Is it possible to buy Blueshift with cash?
The answer is No. Because there is no way you can directly buy Blueshift with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
You can go to LocalBitcoins that is a peer-to-peer Bitcoin exchange. It is more of a marketplace where users can buy and sell Bitcoins to and from each other. Users, known as traders, make advertisements to show their price and the payment method they want used. Then buyers buy from the traders to buy from sellers in a particular nearby region on the platform. LocalBitcoins is after all a good place to go to buy Bitcoins when it is impossible for you to find your favorite payment methods somewhere else. The site’s prices are high and you have you have to be extra careful to avoid conmen.
What are the quickest ways I can buy Blueshift while living in Europe?
While in Europe you have the advantage of buying cryptos in an easy and quick way. Because Europe has even online banks which help buyers to simply open an account and transfer money to exchanges such as Coinbase and Coinmama. Such banks which are common as online banks in Europe are Bunq, N26 and Revolut.
Can I use alternative platforms to purchase Blueshift or Bitcoin with credit cards?
Yes you can, you just need to visit Changelly which an easy to trade in site especially when it comes to buying Bitcoin with credit cards. It provides an automatic cryptocurrency exchange that gives a buyer the opportunity to exchange crypto fast and buy them using credit card. It has been designed to allow users to have easy crypto buying since it has a simple user interface and provides instructions that are easy to follow too.
What is Blueshift?
Blueshift is a new capital-efficient AMM exchange protocol based on decentralized liquidity portfolio management.
Blueshift is a DEX that utilizes multiple innovative mechanisms which facilitate new DeFi realities such as zero or negative arbitrage fee, significantly reduced impermanent loss due to the dynamic reserves model, liquidity portfolios, and the decoupling of token price from token reserves.
Blueshift`s innovations include:
Single-token liquidity provision
Internal pricing oracles
Blueshift Reserve Model
Community managed liquidity portfolios and liquidity portfolio managers
Controllable minting schedule of the BLUES token
These innovations translate into broader areas of benefits, including:
An enhanced user experience and improved convenience
Higher capital efficiency and effectiveness
Liquidity Providers’ revenue generation from slippage
In numbers, these innovations lead up to the following performance parameters:
Price slippage reduced by 2-10x
Impermanent loss reduced by up to 10x
APRs of 60-75%
$BLUES token utilities
Governance over Liquidity Portfolios and the Blueshift ecosystem
Staking and Farming rewards
Participate in protocol’s $BLUES buy-back program
100,000,000 total supply
45 % allocated for staking rewards
The $BLUES token is a Cardano Native Asset that has been bridged to Milkomeda. The token will soon be bridged to other chains. To view the Tokenomics table click here.
Blueshift’s key differences from other DeFi solutions
Single-sided liquidity provision
Users can provide liquidity with one token instead of pairs which usually demand extra swaps and transaction costs. This feature significantly reduces impermanent losses for Blueshift users.
Blueshift invented a new type of a liquidity pool that can hold more than 40 types of cryptocurrencies. This offers a multitude of benefits such as reducing slippage by evening it out across all portfolio asset types and the possibility of liquidity providing a single type of cryptocurrency, or a combination of all types of cryptocurrencies within a single portfolio.
In other words, a liquidity portfolio can be understood as an advanced version of a liquidity pool—which can contain several dozen different cryptocurrencies.
Liquidity Portfolio managers
Liquidity portfolio managers are professionals that have been selected to manage Blueshift’s liquidity portfolios.
Portfolio managers provide advice to protect a portfolio from low-quality assets as well as advice to add new assets with high growth potential. BLUES token holders vote on these suggestions. BLUES token holders can likewise vote to replace a manager or provide a bonus, at any moment—according to the performance of the manager’s portfolio.
Blueshift users will be able to build their own custom liquidity portfolios, however, this feature will only be utilizable by advanced users.
Controllable minting and burning schedule
BLUES token minting speed is ~0.06 BLUES per second whereby it will decrease by a monthly factor of 0.96. This will be modifiable via the DAO which is set to be operational in Q3 of 2022. The burning schedule will likewise be in full control of the community after the DAO is deployed.
Virtual pairs are Blueshift’s equivalent of CeFi synthetic pairs, with a very important modification. Blueshift’s ‘Synthetic Pairs’, or Virtual Pairs—are created dynamically by the protocol during users’ swaps. Every time a trade is being executed—the protocol builds a synthetic pair that provides the best price for the traded asset.
In CeFi, synthetic pairs are custom made pairs created by users which consist of multiple connected pairs.
In other words, with the help of Virtual Pair technology, the Blueshift protocol can build a Virtual Pair ADA <> ETH from, for example, three different pairs: ADA <> BLUES, BLUES <> PAVIA and PAVIA <> ETH. The new synthetic trading pair ADA <> ETH will have a different and possibly better price for either ADA or ETH.
There is virtually no limit to what can be constructed, as long as it is financially feasible.
Blueshift Reserve Model
The Blueshift Reserve Model is the concept that enables users to perform zero-fee or negative fee arbitrage. The model is based on utilizing 10 % of the actual reserves for an arbitrage which results in arbitrageurs being incurred with higher slippage but no trading fees. Through the utilization of this mechanism, Liquidity providers suffer significantly smaller Impermanent losses.
Liquidity Providers’ protective mechanisms
The Blueshift DEX has a deposit and withdrawal limit for liquidity providers implemented which protects liquidity portfolios from malicious actions.
Likewise, if an assets’ price goes sharply downwards, below the EMA, or sharply upwards, above the EMA—the portfolio automatically decreases reserves for virtual pairs with this asset. This makes price slippage higher and protects LPs from dramatic losses.
Decoupling of token reserves from token price
Decoupling the token reserves of a liquidity portfolio from the price of each token allows for the reduction of impermanent losses.
Through the aforementioned decoupling—Blueshift provides unprecedented flexibility in portfolio asset management and the reuse of liquidity in external protocols for higher APRs.
As a consequence of utilizing the Milkomeda technology—Blueshift users have the ability to acquire cryptocurrencies from various chains. The number of available assets on Blueshift, as well the number of integrated chains—will continue to steadily increase.
The so-called “unprecedented APR” is comprised of the following elements:
Portfolio APR—related to the growing market value of portfolios
DEX APR—related to trading fees that can be gained
Farm APR—related to gains from the users` contributions to farming and yield pools
External protocol APR—related to revenues gained from partner protocols
Upcoming Blueshift Milestones
Second Quarter of 2022. will be marked with Arbitrum integration, deployment of the decentralized portfolio management system as well as the integration of advanced trading and liquidity analytics.
During the Third Quarter of 2022. Blueshift will deploy full on-chain DAO and list the $BLUES token on Tier 1 Exchanges.
By the end of 2022. Blueshift will become a Multichain protocol.
The order of chain integration, ordered according to the schedule of integration, is as follows: Arbitrum, BSC, Avalanche, Solana, and afterward—other EVM compatible chains.