If you have any interest to buy Polkamon (PMON), 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
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 Polkamon (PMON).
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.
Step 3: Transferring Your Cryptos to an Altcoin Exchange Gateio
Now let me show you how to purchase Polkamon (PMON) using your investment from Binance.
But, not every crypto be traded in Binance we need to transfer our coins to an exchange that Polkamon (PMON) can be traded.
So, let me guide you to gate.io which is a famous exchange to trade altcoins. Use the link below to register your new account.
If you have completed similar processes as we’ve done before with Binance we are ready to transfer our Bitcoins.
Step 4: Depositng BTC to Exchange
After you have created your trading account setup at one of the exchanges that trades Polkamon (PMON), you will need to transfer your BTC from Binance to that specific exchange.
You have to do this using a wallet system. Then, deposit BTC to gateio Click “Deposit” from the top right menu. You need to look for the search box, type “BTC” and click deposit button and copy the given “Deposit Address”.
The process may be difficult but don’t worry, it is easier than a bank transfer. Once you copy your unique BTC wallet address 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. Then, paste the deposit address you just copied from the other exchange and select BTC as the transfer network.
Next, type the amount that you want to withdraw (you may click the Max button if you want to withdraw all). Then, you click on the Submit button to begin with the withdrawal process.
To continue 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 is all you need to do, now you should wait for a few seconds so that the blockchain to confirm your transaction.
Step 5: Trading Polkamon (PMON)
Now, you need to go back to Bitmax to buy Polkamon (PMON) with the Bitcoins you sent.
Then move your mouse over to trading and then click standard under cash trading. Next, in the left column make sure to select “BTC” pair and in the search bar type in “PMON”.
After you have moved your coin click on it and now you will see a price table of PMON/BTC in the middle of the page. Select the “Market” tab as that is the easiest way of buying orders.
Or you can either choose to 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 PMON”. Now you own your PMON!
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 Polkamon 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 Polkamon 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 Polkamon 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 Polkamon with cash?
The answer is No. Because there is no way you can directly buy Polkamon 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 Polkamon while living in Europe?
Can I use alternative platforms to purchase Polkamon or Bitcoin with credit cards?
What Is Polkamon (PMON)?
Polkamon is essentially a trading game created using blockchain technology and borrowing the mechanics of the popular in the 90s Pokémon cards trading. The right mix of nostalgia and technology, it was launched right into the NFT craze of Q1 2021. Each Polkamon digital monster is a collectible artifact with unique properties and rarity. PMON is a native ETH-20 token of the Polkamon platform, necessary if one wants to purchase new Polkamon or to unlock new features.
Polkamon was founded in early March 2021 and it soon secured a $740,000 funding round from six strategic investors, led by Moonrock Capital and Morningstar Ventures. An IDO (initial dex offering) event at Polkastarted on Mar. 31, 2021 has helped the founders raise approximately $100,000. Two weeks after launch, it has successfully placed itself among the top ten most used ETH tokens, burning millions only on gas fees.
Who Are the Founders of Polkamon?
Polkamon was founded by three software professionals from Bemen, Germany. Their names are Leif Eric Leiser, Lennart Brandt and Finn Hansen.
Leif Eric Leiser is the team’s CEO and software engineer. In parallel with Polkamon as of April 2021, he works as software engineer at a DeFi platform Tixl.Finance and is running eco-shop chain Beleaf as co-founder and software engineer. However, before that, he has had a dozen short contract jobs and internships in software engineering and product development, including such companies as Philips, Lufthansa and Elbstack. He holds a master’s degree in industrial engineering from Hamburg University of Technology, which he finished in 2018.
Lennart Brandt is Polkamon’s chief marketing officer (CMO) and software developer. He is also known as the founder of JoinWeBurn.com, a relatively popular fitness app. Like Leiser, he works on Tixl.Finance in the position of a UX designer and up to founding Polkamon has also worked at Elbstack, a German software company, as a serial entrepreneur for various projects, playing roles of product designer and react native developer as well. He has a bachelor’s in business informatics (BI) from IBS IT & Business School Oldenburg
Finn Hansen is the third partner, who serves Polkamon as a full-stack software engineer. Along with the other two co-founders, he is employed at DeFi platform Tixl.Finance, where he holds the position of software engineer.
What Makes Polkamon Unique?
Polkamon combines several features that together make it almost a perfect match for the heated crypto market of 2021. When the infamous CryptoKitties broke out, the technology was not yet fully ready to embrace such a game, but four years since it is different: the infrastructure has significantly improved and was ready for the next wave of growth.
The mechanics of Polkamon trading is rather simple: there are collectible NFT Polkamons, there are “Booster Packs” to distribute new animated monsters, where you do not know which ones you’ll get from the pack (just like in the 90s, yes), and finally there are PMON tokens to buy and trade them with.
Moreover, initially Polkamons in the Booster Packs are not yet full-fledged NFTs, they are what the developers call “soft-minted.” If a user decides to turn his Polkamon of choice into an NFT, he has to burn PMON tokens to mint it. Given that the total volume of tokens will decrease with every minted Polkamon NFT, their price is designed to rise.
The project developers are planning to unveil a number of user features, including PMON staking, full utilization of level-2 meta-data properties and cross-chain support with the power of Polkadot, all to enrich the gaming experience.
What’s the deal with NFTs? Check out our extensive guide here.
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How Many Polkamon (PMON) Coins Are There in Circulation?
The total token supply is capped at 10 million PMON with the initial circulation around 1.8 million.
37.15% of tokens are in hands of strategic investors with a 90 day vesting, 10% are in foundational reserve locked for 1 year, then unlocked with daily vesting over 365 days, 10% are team and advisory tokens locked for 1 year, then bound by daily vesting over 365 days. However, another 20% are marketing and business development tokens, 20% of which are available before listing, the rest bound by daily vesting over 365 days. 20% are liquidity tokens with the same vesting schedule.
Finally, only as much as 2.85% PMON tokens are public.
How Is the Polkamon Network Secured?
PMON tokens are standard ERC-20 tokens, while the Polkamons can be minted as ERC-721, a non-fungible token, meaning that it runs on and is secured by the Ethereum blockchain. Ethereum, in turn, is secured by its Ethash proof-of-work function.
ERC-20 merely defines a set of rules for tokens, as well as security considerations mainly related to the strength of the Ethereum network. For example, congestion can hike the price of gas needed to perform transactions, leading to delays and abnormally high transaction fees, which impact all participants. This has already happened at the early days of Ethereum when in 2017 the first popular game based on smart contracts called CryptoKitties has completely clogged the network.
Where Can You Buy Polkamon (PMON)?
Let us not be confused with several types of assets constituting the Polkamon universe. Polkamon collectible NFTs are traded at peer-to-peer marketplaces such as OpenSea.