How to Buy Biconomy Exchange Crypto (BIT)
What is Biconomy Exchange Crypto?
Biconomy Exchange is a relatively new cryptocurrency that's been making a lot of investor excited. The marketing campaign for this project hasn't even started but the community is already growing fast and strong. The technology the Biconomy Exchange is promising will be able to revolutionize the market if done right. Biconomy Exchange its still in his early stage but so far seems very promising.
Where can I buy BIT Crypto?
You can buy Biconomy Exchange on PancakeSwap.
Why should you buy Biconomy Exchange?
Binance Smart Chain has been gaining a lot of traction lately. The main motivation for this is the very low fees that it offers. Ethereum gas fees are way beyond acceptable. I've seen transaction fees of 100$+ in Uniswap, and nobody wants to pay that. Ethereum 2.0 has been in the works for years now, and there is still no solution for these absurd gas fees on the Ethereum Network.
Biconomy Exchange is amongst the best projects on BSC.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 Biconomy Exchange Crypto?
Step 1 - Register on Binance
Binance is one of the main exchanges for crypto. We'll need to register on Binance and use it to buy the Binance Token, known as BNB.
Now it's the boring part where you need to fill out your information. Make sure to use your real information because Binance will ask you for verification of everything.
Step 2 - Buy USDT with Fiat Money and Trade it for BNB.
Now that all the boring verification part is done, you have to add a payment method. You can choose between a Bank Transfer or Credit/Debit card. Credit Card has higher fees, but you can make an instant purchase. Bank Transfer is cheaper, but you have to wait a couple of days for the money to arrive at Coinbase.
For this demonstration, I will be using the Credit Card payment method.
On the upper left corner, click on Buy Crypto, and select your payment method:
On the next page, select or add the card you're going to use to buy crypto. And the cryptocurrency you'll need to buy is USDT. The reason we are buying USDT is to save on fees. Buying USDT will have much lower fees than buying BNB directly because each USDT token represents one US dollar.
So we'll be buying USDT and trading it for BNB afterwards. If you want to skip this step, you can buy BNB directly now, but I recommend you not to, so you can save on the fees and get more crypto out of your Fiat money.
Add your card if you haven't yet, and proceed with the purchase of USDT.
Time to convert it to BNB. Click on Trade on the top menu:
Select the amount you want to trade (click on MAX if you want to trade it all). Proceed, wait for a few moments and you should now have BNB in your Binance Wallet. That's it for this step.
Step 3 - 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.
Now since we are using the Binance Smart Chain, we'll need to add the Network. I'll go over this very quickly. If you need a more in-depth tutorial for this part, you can check out Binance's tutorial right here.
Click on the upper right corner where you see the image and then click Settings. Select Networks and click on Add Network.
Fill out the boxes with this info:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Click Save, and now you have Binance Smart Chain installed on your Metamask.
Step 4 - Send your BNB to the Metamask Wallet
To buy Biconomy Exchange, you'll need to have some BNB in your Metamask balance so you can trade it for BIT. That is why I instructed you to buy BNB first, instead of Bitcoin, for example.
To have your previously purchased BNB on your Metamask wallet, you have to send it from your Binance account to your Metamask wallet.
Copy your Metamask Wallet address by clicking here:
Go back to your Binance. On the upper right corner, click on Wallet - Fiat and Spot.
You should see a list of the cryptocurrencies in your wallet, find BNB and click on withdraw:
Now you should paste the Metamask wallet address that you copied before to the Recipient's BNB Address. Select the Binance Smart Chain (BSC) and choose the amount you want to send. This address is the same as the one you use with the Ethereum Network.
Confirm everything is correct and continue. Fill out the verification codes sent to your email, phone number or Google Authenticator and proceed. You should receive your BNB on your Metamask Wallet within minutes.
Step 5 - Buy Biconomy Exchange on PancakeSwap with BNB
Before we head over to PancakeSwap, we need to prepare your Metamask Wallet to receive BIT. 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 BIT.
You can check the price of Biconomy Exchange, and confirm the Token Contract address on Coingecko.
Let's buy some BIT!
Go to Pancakeswap. 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 Pancakeswap.
Click on Select Token and paste this contract address: 0xc864019047b864b6ab609a968ae2725dfaee808a
Now you have to select the amount of BNB you want to trade for BIT. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.
Wait a few minutes, and your BIT should appear on your Metamask Wallet.
Congratulations! You are now a proud Investor of Biconomy Exchange!
In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Pancakeswap's gear icon, and put 5% here: