If you have any interest to buy SparkPoint (SRK), 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 SparkPoint (SRK).
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 HotBit
Now let us purchase SparkPoint (SRK) using your investment from Binance.
But, not every crypto can be traded in Binance we need to transfer our coins to an exchange that SparkPoint (SRK) can be traded.
So let me guide you to Hotbit which is a famous exchange to trade altcoins. We will use the link below to register your new account.
If you have completed similar processes as we’ve done before with Binance you are ready to transfer your Bitcoins.
Step 4: Depositing BTC to Exchange
You have to deposit to hotbit once you have created your trading account setup at one of the exchanges that trades SparkPoint (SRK), you will need to transfer your BTC from Binance to that specific exchange.
Use your wallet system to do this. Next, move your mouse over to wallet on the top right and click “Deposit”. You have to make sure the setup 2FA in this part. Find “BTC” from Token section and copy the given “Deposit Address”
This part may be difficult to do, it is easier than a bank transfer. But 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.
Next, paste the deposit address you just copied from the other exchange and select BTC as the transfer network. Then type the amount that you want to withdraw (you may click the Max button if you want to withdraw all).
Then 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’s all, now you should wait for a while so that the blockchain to confirm your transaction.
Step 5: Trading SparkPoint (SRK)
Now you need to go back to Bitmart to buy SparkPoint (SRK) with the Bitcoins you sent.
Then click “Exchange” and you will see trading menu. hotbit trade In the left column make sure to choose“BTC” pair and in the search bar type in “SRK”.
If you have moved your coin click on it and now you will see a price chart of SRK/BTC in the middle of the page. Select the “Market” tab as that is the most straight-forward type 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.
After you have confirmed everything, click “Buy SRK”. You have your own your SRK!
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 SparkPoint 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 SparkPoint 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 SparkPoint 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 SparkPoint with cash?
The answer is No. Because there is no way you can directly buy SparkPoint 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 SparkPoint 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 SparkPoint 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 SparkPoint (SRK)?
SparkPoint Innovations Inc. or SparkPoint is a duly registered corporation in the Philippines under the SEC launched on October 5, 2018. The project aims to fast track mainstream adoption of blockchain and cryptocurrency through an ecosystem of practical products and services.
SparkPoint started with an initial funding of $50,000. Despite the minimal capital, the team was able to launch various blockchain-based products and services including SparkPoint Wallet, SparkLearn, SparkPlay, SparkEarn, and SparkDeFi. These products and services have collectively reached tens of thousands of users and continue to grow.
The SparkPoint Ecosystem is composed of:
Non-custodial mobile cryptocurrency wallet that natively supports various cryptocurrencies including SparkPoint (SRK), Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and other ERC-20 tokens. It also offers built-in Decentralized Exchanges including Uniswap, ChangeNOW, and Changelly. A virtual currency exchange (VCE) license application is ongoing to legally enable fiat integration in the SparkPoint Wallet.
E-learning platform focused on educational content about blockchain technology, cryptocurrency, and financial literacy. The platform currently offers free courses for these topics and is continuously being improved through UI/UX enhancements, onboarding of new mentors, and integratnig a Learn-to-Earn model. Education is at the heart of SparkPoint.
Collection of mobile casual games with cryptocurrency as central theme. Currently available games include Crypto Slicer, Crypto Burst, and Crypto Shooter. Tournaments and achievement bounties are being conducted regularly as part of SparkPlay’s Play-to-Earn (P2E) gaming model. P2E is an emerging paradigm in gaming where a significant chunk of value goes to players. Using blockchain technology, players are empowered to truly own game items and earn cryptocurrency rewards.
SparkPoint referral and rewards program where users can earn SRK and other tokens from sponsors by performing simple bounties. SparkEarn accounts are also currently being used as a single sign-on (SSO) account for SparkLearn and future SparkPoint services including SparkPlay and SparkDeFi.
A governance token-based platform that empowers individuals to unlock the true value of their cryptocurrency assets. SparkDeFi offers a Decentralized Exchange (DEX), Liquidity and Pool-Based Staking, P2P Lending and Borrowing, and DeFi Assets Protocols Management in a seamless, transparent, secure, inclusive, and interoperable approach.
The SRK-ETH Liquidity Staking Web App was recently launched on the Ethereum mainnet. 32 Million SRK tokens have been allocated as rewards for stakers.
SRK is the native utility token that is used for:
- Payment for SparkLearn courses
- Prizes in SparkPlay tournaments and achievements
- Payment for SparkPlay game NFTs
- Rewards for completing bounties in SparkEarn
- Rewards for Liquidity Providers and Stakers
- Payment for SparkPoint IT-BPO services
How Many SRK Tokens Are There in Circulation?
The SRK token was launched on the Ethereum mainnet on March 14, 2019 with an initial total supply of 20 billion SRK tokens. A series of token burns have reduced the total supply down to 14,368,540,937 SRK tokens. Quarterly token burns are scheduled in the future to reduce the total supply to its final fixed maximum value of 10 billion SRK tokens. There are currently 6,486,932,911 SRK tokens in circulation.
Of the initial total supply, 20% of the tokens were distributed to private sale participants. A minimal amount was allocated for sale to avoid any sudden fall in the price of SRK in the market. 7% of the tokens were allocated for marketing and airdrops, and 10% for community development programs. Majority of the tokens were allocated for SparkPoint Ecosystem Development at 38%. Most of the tokens that were burned were also part of this allocation. As for the rest of the tokens, 10% were allocated for the Founders, 5% for the current team, another 5% for future team members, and the remaining 5% for advisors.
Who Are the Founders of SparkPoint?
SparkPoint is the brainchild of Andrino Agnas, a CPA and cryptocurrency investor based in the Philippines. Andy currently serves as the Chief Executive Officer of SparkPoint. Rico Zuñiga, a serial entrepreneur and early advisor of SparkPoint, currently serves as its Chief Technology Officer. Rico has been in the tech industry for more than 16 years and is one of the pioneers in the Philippine tech startup industry.
SparkPoint started with a staff of 2 in 2018 and was able to grow to 10 full-time and 5 part-time employees in 2020. The company is planning to rapidly expand and grow in 2021 to ensure the delivery of its roadmap.
Where Can You Buy SparkPoint (SRK)?
SRK is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.
BitMart currently offers the best liquidity for SRK with support for both SRK/BTC and SRK/ETH pairs. Uniswap offers a decentralized option for trading SRK with Ethereum (ETH) and other ERC-20 tokens. P2PB2B offers a Tether (USDT) option.
New to cryptocurrency? Read CoinMarketCap’s easy guide to buying Bitcoin or any other token.