If you have any interest to buy iLayer (ILAYER), 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)
1.2 Fill in your trading details
1.3 Allow 2FA-Two-factor authentication (Optional)
Step 2: Buying your first Bitcoin (BTC)
I highly recommend buying Bitcoin first and then trading it for the right amount of iLayer (ILAYER).
Step 3: Create a Metamask Account
Open https://metamask.io website or search for “Metamask extension” in your favorite browser (you can install Metamask for Chrome, Firefox and Opera browsers).
We will show you how to install MetaMask extension for Chrome.
Click Add to Chrome to install MetaMask as Google Chrome extension.
Click Add Extension.
You have successfully installed MetaMask extension. That was easy, isn’t it? Now, it is time to add your existing cryptocurrency wallet.
If you don’t have a wallet yet, you can create one straight away.
When the extension is installed, click on the icon in the upper right corner to open the MetaMask, read and accept the terms.
Create a strong password and click Create.
You will see a 12 words seed phrase. Save seed words as a file or copy them to a safe place and click “I’ve copied it somewhere safe”.
Congratulations! You have successfully created an account in MetaMask with a new wallet address!
Now you can view your address on Etherscan (Ethereum blockchain explorer), check the QR code, copy your wallet’s address to clipboard or export your wallet’s private key.
Step 4: Connecting MetaMask to Binance Smart Chain
We want to access the Settings to point the wallet towards Binance Smart Chain nodes.
On the Settings page, we want to locate the Networks menu.
We want to click Add Network in the top-right corner to manually add the Binance Smart Chain one – it doesn’t come packaged with MetaMask. It’s important to note that there are two networks we can use here: the testnet or the mainnet. Below are the parameters to fill in for each.
Mainnet (This is the one you are probably looking for)
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Once you Save the Network and return to the main view, you’ll notice one things: the network has automatically been set to the one you just entered.
Step 5: Deposit BNB to your MetaMask wallet
Hover over the account name at the top of the window, which will display “Copy to clipboard”
Click on the account name to copy your address
Paste your address in the “recipient” field in the application where you are sending your BNB or tokens from.
Select the amount you want to send, along with any other necessary steps to complete and submit the transaction and make sure to select transfer network “Binance Smart Chain (BSC) BEP20(BSC)”.
Note: Please consult with the organization of the application you are using for information on how to transfer your BNB/tokens.
Step:6 How to Make Your First Trade on Pancakeswap
First head over to the Pancakeswap exchange platform.
On the top right, click the ‘Connect to a wallet’ button, and log in with the wallet you wish to trade with.
We’ll log in with a MetaMask wallet.
Once logged in, the trading interface will appear.
In the top field, select the token you wish to exchange for the token you want. We’ll select BNB. In the bottom field, search for the token you wish to purchase, or select it from the drop-down menu, in this case (ILAYER).
Now you’re ready to set up your order. You can either choose how much you want to spend by entering a number in the top field, or choose how much to buy by entering a number in the bottom one.
At the bottom of the order menu, you’ll then see how much you can expect to receive.
If you’re happy with these figures, click the ‘Swap’ button.
Your wallet click will then prompt you to confirm the trade, and potentially adjust the fees to a number that works best for you.
When you’re ready, confirm the transaction and it will then be processed. Once it’s done, your tokens will appear in your ERC20 wallet.
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 iLayer 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 iLayer 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
- 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 iLayer for some long time, you need to find ways to ensure it stays safe safe,
Frequently Asked Questions
Is it possible to buy iLayer with cash?
The answer is No. Because there is no way you can directly buy iLayer 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?
What are the quickest ways I can buy iLayer while living in Europe?
Can I use alternative platforms to purchase iLayer or Bitcoin with credit cards?
iLayer is a next generation, mathematically structured ecosystem in which third party projects and tokens can join in for a small tax fee and then benefit from projects joining in after them.
Projects and tokens that add themselves into the ecosystem will benefit from the mathematically layered structure of the ecosystem massively, with several times more taxes generated for them then they have paid out, helping them overcome the initial pump and dump that is plaguing the defi landscape, and give them a more sustained, long-term outlook while giving their holders more rewards.
Whether projects and tokens use the hyper-deflationary model, autonomous yield model, liquidity generation model, the buy-back model, other reward models or a combination, they will be able to attach themselves within the ecosystem for a small fee which will be paid to the previous phase of projects.
Investors from each ecosystem project will be able to view their rewards and earnings from one single place on the iLayer dashboard, making iLayer the go to place for reward generation tokens and those looking for reward generation projects.
To avoid exponential growth of the projects and taxes, the team has diligently created what we are calling phases. Every project that joins must adhere to the maths of the phase they enter into. As more projects are added, 1 phase is constantly removed to keep a maximum of 3 phases at all times. This ensures that the ecosystem is sustainable.
The iLayer token itself uses the ‘buyback’ concept in which each buy and sell incurs a tax of 5% that is added to the ‘buyback wallet’ or what we are calling the ‘iVault’.
As more and more projects join the ecosystem, more taxes are paid to the ‘iVault’. Holders benefit hugely from the ‘ivault’ as it will be used in times of market difficulty and volatility to ensure that they are safe in their investment in iLayer.
In total, as the ecosystem progresses, iLayer will receive a massive 21% from third party projects and a total of 26% including its own taxes, this ensures that from the moment iLayer is released, a new price floor will always be set periodically.
The ‘iVault’ amount guarantees a rising floor price over time for investors to feel safe about. The ‘iVault’ will be used in times of market volatility to ensure a stable rising price floor.
Why join the ecosystem? Many projects fail after the ‘initial pump’ because they are unable to sustain the trading volume needed to keep yield and liquidity generation viable, forcing loyal holders to sell and move on to other projects. iLayer solves this by putting in place a layered ecosystem with