What is Polkacover (CVR)?
Polkacover is the first insurance marketplace in the cryptocurrency ecosystem.
Polkacover aims to bring insurance to transactions in the Decentralized Finance world. They want to give the power back to the people by providing insurance services for transactions in the crypto space.
Providing global access to buy insurance products in a very quick and easy manner.
How to Buy Polkacover Crypto?
Step 1 - Setting up a Metamask Wallet
Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.
Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.
You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.
Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.
Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.
Step 2 - Buy ETH on Simpleswap
Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy ETH and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.Click here to access Simpleswap
Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for ETH, and click "Exchange", just like this:
Now all you have to do is click the Metamask fox logo to directly copy and paste your Metamask Ethereum address. It should add it automatically.
You can now choose between Google Pay or card to complete the payment:
Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in Metamask.
Step 3 - Buy Polkacover on Uniswap with ETH
Uniswap is currently the number one Decentralized Exchanged in the world, and it's simply the best place to buy cryptocurrencies that aren't available on sites like Coinbase or Binance.
Before we head over to Uniswap, we need to prepare your Metamask Wallet to receive Polkacover. Open Metamask, scroll all the way down, and click here:
Select Custom Token and paste this token contract address there:
The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Polkacover (CVR).
You can check the price and confirm the correct token address of Polkacover on Coingecko.
Let's buy some Polkacover!
Go to Uniswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Uniswap.
Select a token and paste the Token contract address: 0x3c03b4ec9477809072ff9cc9292c9b25d4a8e6c6
Click Import and accept the terms.
This is what you should see now:
Now you have to select the amount of ETH you want to trade for CVR. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your CVR should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Polkacover!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:
Why should you buy Polkacover?
Well, for starters, Polkacover will be the first decentralized insurance marketplace. What comes first sometimes doesn't mean it's the best, but I have a feeling it will be the best. Polkacover is bringing a super innovative solution to security in DeFi. Very soon, I believe we'll see insurance being big in crypto, and Polkacover seems to be the best contender to lead the insurance market in DeFi.
CVR is now running on the Ethereum Network but will bridge to Polkadot system but Q2. This decision was made for simplicity on the release.
Please make sure you read our Disclaimer. We are not financial advisors.