How to Buy Backed Protocol Crypto (BAKT)
What is Backed Protocol BAKT?
Backed Protocol is a relatively new cryptocurrency on the Ethereum Chain that's been making a lot of investors excited. This project's community is already growing fast and strong. The technology that Backed Protocol is promising will be able to revolutionize the market if done right. Backed Protocol its still in his early stage but so far seems very promising.
Where can I buy BAKT Crypto?
You can buy Backed Protocol on Uniswap.
Why should you buy Backed Protocol?
Backed Protocol is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.
How to Buy Backed Protocol 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 Ethereum 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.
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 Backed Protocol 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 Backed Protocol. 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 Backed Protocol (BAKT).
You can check the price and confirm the correct token address of Backed Protocol on Coingecko.
Let's buy some Backed Protocol!
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: 0x8379f52d09b9998ecba731288ee4fe532fd91c0b
Click Import and accept the terms.
Now you have to select the amount of ETH you want to trade for BAKT. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your BAKT should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Backed Protocol!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:
Step 4 - Store Backed Protocol on Ledger
Check out our guide on how you can store Backed Protocol on Ledger's Hardware Wallet
Please make sure you read our Disclaimer. We are not financial advisors.