The Ultimate Guide To Buying Beer Coin

Beer Money (BEER) is a cryptocurrency that combines two growing markets: craft beer and cryptocurrency. It is underpinned by the blockchain technology of Nem and Binance Smart Chain, which ensures security, efficiency, and flexibility in transactions. Beer Money aims to create a unique ecosystem for craft beer enthusiasts, allowing them to interact with their favourite beverages in a new way. As a digital asset, it can be used to purchase craft beer and related products, streamlining payments and enhancing customer engagement.

To buy Beer Money, you can use either a centralized exchange or a decentralized exchange (DEX). A popular centralized exchange option is Raydium, where the most active trading pair is BEER/SOL. If you prefer a DEX, you can connect your crypto wallet to the DEX of your choice, such as Raydium or Pancake Swap, and trade your base currency for BEER. Before investing, it is important to conduct thorough research and understand the risks involved, as the cryptocurrency market is highly volatile.

Where to buy Beer Coin

Beercoin (BEER) can be purchased on various decentralized and centralized crypto exchanges. The most popular exchange to buy and trade Beercoin is Raydium, where the most active trading pair is BEER/SOL. Raydium is also the recommended decentralized exchange (DEX) if you are using the Trust Wallet wallet. Other popular options include OKX DEX, Jupiter, HTX, and MEXC.

If you are looking to buy Beer Token (BEER), which is different from Beercoin (BEER), you can do so on a reliable centralized exchange similar to Binance. You can refer to Coinmarketcap.com's Markets section to find the list of centralized exchanges the coin is listed on. Another option is to buy the Beer Token through a decentralized exchange (DEX) that supports the blockchain where your Beer Token resides.

How to set up a crypto wallet

To set up a crypto wallet, you can follow these general steps:

• Choose the type of wallet that works for you: There are three basic types of crypto wallets: software wallets or "hot wallets" that store your crypto on an internet-connected device; cold wallets, which are hardware devices that keep your crypto offline; and custodial wallets, which leave your crypto in the control of a company, such as a crypto exchange.
• Sign up for an account, buy the device, or download the software: This will depend on the type of wallet you choose. For software wallets, you'll need to download a wallet app to your phone or computer. For hardware wallets, you'll need to purchase the device and install the required software. With custodial wallets, you'll need to find a trustworthy platform and create an account.
• Set up your security features, including a recovery phrase: Your recovery or "seed" phrase is essential to keep your crypto secure. Make sure to write it down and store it in a safe place, as it will be needed if you lose your login credentials or want to access your funds on another device.
• Purchase cryptocurrency or transfer coins: You can add crypto to your wallet by purchasing it directly on an exchange or transferring coins from another wallet. Make sure to follow the specific instructions provided by your chosen wallet platform.

Non-custodial software wallet:

• Pick a wallet app and download it on your device.
• Create an account with a security method such as a password or facial recognition.
• Write down your recovery or seed phrase, which will be needed to access your funds if you lose your login credentials.
• Add crypto to your wallet by transferring tokens from another wallet or linking your account to an exchange within the app settings.

Hardware wallet:

• Buy the hardware wallet from a reputable manufacturer or retailer.
• Download and install the required software, which will guide you through the setup process.
• Connect your device to your computer or mobile device using a USB cable or Bluetooth connection.
• Add crypto to your wallet by purchasing it directly through the wallet or transferring tokens from an exchange or another existing wallet.

Custodial wallet:

• Find a trustworthy platform that offers strong security features, complies with regulations, and provides insurance against loss.
• Create an account by providing your email address, creating a password, and verifying your identity with personal information.
• Add cryptocurrency to your wallet by transferring crypto from another wallet or purchasing coins directly on the exchange by linking your bank account.

How to buy SOL or BNB as a base currency

To buy Beer Coin, you need to use a decentralised exchange (DEX) such as Raydium, OKX DEX, or Jupiter. These platforms leverage the underlying technology of the Solana blockchain to provide users with a seamless and secure trading experience.

To buy SOL or BNB as a base currency, you can follow the steps outlined below:

Buying SOL on Coinbase:

• Create a Coinbase account by downloading the app and signing up. You will need a valid ID and may be asked for proof of address.
• Add a payment method such as a bank account, debit card, or wire transfer.
• On Coinbase.com, select "Buy & Sell". On the mobile app, tap the "+" sign on the Home tab.
• Select Solana from the list of assets.
• Enter the amount you want to buy in your local currency, which will be automatically converted into SOL.
• Finalize your purchase by previewing the details and confirming.

Buying SOL on Phantom:

• Download the Phantom app and create a new wallet.
• Select "Buy Crypto" and then "Solana (SOL)".
• Insert the amount of SOL you want to buy.
• Choose your funding option, such as MoonPay or Coinbase Pay.
• Once you've completed your purchase, the SOL will appear in your wallet.

Buying BNB on Binance:

• Create a free account on the Binance website or app and verify your identification.
• Choose how you want to buy BNB. You can buy with a debit/credit card, Google Pay, Apple Pay, or via a third-party payment.
• Navigate to the "Buy BNB with USD" page on Binance and select BNB and USD from the dropdown menu.
• Choose your payment method and confirm the order within the time limit.
• Verify the payment through your bank, and the coin will appear in your Spot Wallet.

Both SOL and BNB can be purchased directly from their respective platforms, and you can also trade them for other cryptocurrencies on exchanges.

How to choose a decentralised exchange

When choosing a decentralised exchange (DEX) to buy Beercoin (BEER), there are several factors to consider. Firstly, it is important to select a DEX that supports BEER trading. Popular DEX platforms include Uniswap, SushiSwap, and PancakeSwap, depending on the blockchain network hosting BEER. It is worth noting that BEER is not listed on all exchanges, so checking the availability on your chosen DEX is essential.

Secondly, you will need to consider the compatibility of your crypto wallet with the DEX. Ensure that the wallet you choose is supported by the exchange. For example, if you use the Trust Wallet, you can transact on Raydium. Connecting your wallet to the DEX allows you to trade directly from your wallet without going through a central intermediary.

Thirdly, it is crucial to research the fees associated with different DEX platforms. While DEX fees are generally lower than centralised exchanges, the gas fees for using the Ethereum network can be significant. Therefore, it is important to factor in these costs when choosing a DEX.

Additionally, it is important to consider the user interface and ease of use of the DEX. Decentralised exchanges often require specialised knowledge, and the interfaces can be complex. Therefore, it is advisable to select a DEX that offers a user-friendly experience and provides resources or support to help you navigate the platform effectively.

Lastly, it is essential to prioritise security when choosing a DEX. As decentralised exchanges are peer-to-peer marketplaces, the security of your funds relies on the security of your crypto wallet. Therefore, selecting a secure wallet and a DEX with a strong track record of safeguarding transactions and user data is vital.

How to trade your base currency for Beer Coin

To trade your base currency for Beer Coin, you can follow these steps:

Step 1: Find a Reliable Exchange

Firstly, you need to find a centralized exchange that offers Beer Coin (BEER). Popular options include Raydium, MEXC, and HTX. These exchanges provide a platform for you to buy and sell BEER.

Step 2: Set Up a Crypto Wallet

Next, you'll need to download and set up a crypto wallet, such as the Trust Wallet. This wallet is available as a Google Chrome extension for desktop users or as a mobile app on Google Play or the iOS App Store. Be sure to keep your seed phrase safe and take note of your wallet address, as you'll need it for the next steps.

Step 3: Buy a Base Currency

Once your wallet is ready, you can purchase a base currency, such as SOL or BNB, depending on the blockchain that Beer Coin is based on. You can buy these base currencies on platforms like Binance. After purchasing, withdraw the funds to your crypto wallet.

Step 4: Choose a Decentralized Exchange (DEX)

Now, select a DEX that is compatible with your chosen wallet. For instance, if you chose Trust Wallet, you can use Raydium or Pancake Swap for Solana-based or BNB Chain-based coins, respectively.

Step 5: Connect Your Wallet

Connect your crypto wallet to the chosen DEX using the wallet address you noted earlier. This will allow you to interact with the decentralized exchange and make trades.

Step 6: Trade for Beer Coin

Finally, on the DEX, select your base currency as the payment option and Beer Coin as the coin you want to acquire. If Beer Coin doesn't appear, you may need to find its smart contract address on a blockchain explorer (e.g., https://explorer.solana.com/ for Solana or https://bscscan.com/ for BNB Chain) and copy and paste it into the DEX.

After completing these steps, you should now hold Beer Coin in your crypto wallet. Remember to always conduct your own research, understand the risks involved, and only invest what you can afford to lose, as the cryptocurrency market is highly volatile.

Frequently asked questions