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How to buy ACE in Burkina Faso
Learn how to acquire ACE in just a few easy steps. With large companies now investing in cryptocurrencies, there's no better time to start owning your own crypto-coins like ACE.
This easy-to-follow guide will confidently take you step-by-step through the process of purchasing ACE. Follow the steps, and you'll have your first ACE today! How exciting!
TIP for Burkina Faso! Before getting started, make sure you create a free Kucoin account for Burkina Faso (it takes less than a minute) so you can follow the steps below immediately.How to buy ACE (ACE) for beginners in Burkina Faso
- Step 1 - Create & secure an account
- Step 2 - How much ACE ACE should I buy?
- Step 3 - Payment methods buying ACE
- Step 4 - Trade or buy your first ACE
- Step 5 - Prepare for the crypto future!
- Step 6 - More information about buying ACE
Step 1 - Create an account
Kucoin is one of the largest platforms globally. A big plus is that it’s user-friendly to purchase ACE on Kucoin. Just like trading traditional fiat currency, there is a small fee for every trade, and Kucoin offers good rates. Once you’ve purchased ACE, you can choose to store your coins online or transfer them to a hardware wallet for extra security, if available for your crypto-assets.
Below in super simple steps explained, how to create a new and safe account.
1.1 Safe account
Click on this link to go to Kucoin Exchange to create an account.
1.2 Strong password
Enter your email & strong password, tick off I agree to the Kucoin Term of Use and click register.
1.3 Verify your email address
After this step is completed a verify email will be send to you.
Check your inbox and confirm your email address
1.4 Secure your account
Awesome your Kucoin account is created! Now follow the next steps and make sure your account is 2FA secured. This is highly recommended.
What is 2FA?
With 2FA you will generate a security code every time you login with a new session. This will help to prevent other people to get access to your account. Most used 2FA authentication options are SMS and authenticator apps like Google Authenticator.
1.5 You've an account now!
You're account is ready to use and buy ACE (ACE)
Step 2 - How much ACE (ACE) should I buy?
The best thing about cryptocurrencies is that you can divide them and purchase just a small portion. This way, you still own a piece of ACE, which you can either spend or store.
It’s a smart idea to first test a small amount of CFA Franc BCEAO to build confidence in the process of acquiring ACE, and then scale up your transactions and buy more ACE. (Be aware of the costs that are involved when buying and selling cryptocurrencies.)
Two SMART reasons why it's smart to be active on multiple exchanges
Demand is growing, and sometimes you’ll want to trade right away. Since some exchanges have long approval waiting times, which can take weeks, it’s smart to already have accounts set up on multiple exchanges.
Another key reason to have accounts on multiple exchanges is that not all platforms list the same cryptocurrency coins. When you come across a new coin that you want to buy with your CFA Franc BCEAO (XOF), you don’t want to be stuck waiting for approval; instead, you want to take action before the price rises. Click here for a FULL list of popular exchanges, including our personal TOP 5. All of these exchanges support mobile apps to buy crypto from Burkina Faso.
Step 3 - Payment methods buying ACE
On Kucoin you have over 100 payment options to deposit money and buy your ACE. Easily select your currency (in your case from Burkina Faso, probably CFA Franc BCEAO) and the payment option you want to use. Of course they also provide the most used payment options like Credit Card, Bank Transfer & PayPal.
Note: Every country has different payment options, so easily log in and check the available payment methods for Burkina Faso. In the cryptoworld and on exchanges like Kucoin, you aren't able to buy every coin directly with FIAT currency. For this reason, they created stable coins like Tether USDT.
These are cryptocurrencies that you can purchase to later convert them into the currency you want to buy. Before buying your preferred coin, it’s a good idea to check which coins are paired with the one you want to purchase.
Step 4 - Trade or buy your first ACE from Burkina Faso
In the cryptoworld, and on exchanges like Kucoin, you aren't able to buy every cryptocurrency directly with FIAT currency. That's why, they developed stable coins like Tether USDT.
These stable coins are cryptocurrencies that you can purchase and later exchange them to the currency you want to purchase. The term stable-coin comes from its linkage to the USD, as these coins' value is pegged to the US dollar. Before buying your preferred cryptocurrency, it’s a good idea to check which coins are paired with the one you want to buy. For instance, some coins only pair with Bitcoin or Ethereum, while others also pair with stable coins.
The benefit of using stable-coins
Since some cryptocurrencies can be volatile, stable coins are often linked to the USD. As a result, their price stays fairly stable, which helps minimize the risk when trading FIAT currency into other crypto coins, and vice versa.
Step 5 - Prepare for the crypto future!
As mentioned at the outset of this guide about buying ACE (ACE), it's wise to prepare yourself by creating multiple secured accounts on different exchanges. This way, you’ll be one step ahead when you want to acquire a new cryptocurrency that isn’t listed on the platform you’re currently using.
Top 5 - help yourself
List of exchanges including our TOP 5 to buy ACE (ACE) or other altcoins. Most of these exchanges have large trading volumes.Step 6 - More information about ACE
DYOR - Do Your Own Research
When investing in ACE, always make sure to conduct thorough research on the coin, its technology, and the team behind it. Before making an investment in any coin, it's essential to look into the coin itself, its underlying technology, and the team developing it.
DCA - Dollar Cost Averaging Strategy
Dollar Cost Averaging (DCA) is a commonly used strategy in the investment and crypto-world. It’s a tactic where you purchase regularly a certain amount of a coin or investment you believe in. For example, you may invest 100 CFA Franc BCEAO every month. By investing systematically, you reduce emotional involvement, and by spreading your investments, you also lower the risk of a volatile market.
- Invest small amounts
- Less stress about fluctuating markets
- Less chance on losses as you never purchase full amounts on peaks
Cons DCA
- Won't make optimal trades as you don't invest all on the bottom
- Takes longer, as you're not rich after one trade
- If you DCA on one investment you can pick a loser investment what will only go down. Better is there to spread your investments while doing DCA.
Explanation Video DCA Dollar Cost Averaging
Explanation Video How to Buy ACE
Below you'll find a video tutorial about how to buy Bitcoin (BTC). Simply replace BTC with ACE in this video and you'll learn how to buy ACE within a couple of minutes.Official ACE ACE sources
- Website: https://www.aceentertainment.io
- Whitepaper: Click here for the whitepaper of ACE
- ACE Announcements
- ACE Twitter
- ACE Reddit
- ACE Chat
- ACE Explorer
Benefits of cryptocurrencies
Cryptocurrencies offer a range of advantages that have attracted individuals, businesses, and governments worldwide. One notable benefit is the potential for increased financial inclusivity. Cryptocurrencies allow individuals who lack access to traditional banking services to participate in the global economy, supporting the unbanked and underbanked populations. Moreover, cryptocurrencies provide faster and cheaper cross-border transactions compared to traditional banking systems, doing away with the need for intermediaries and reducing transaction fees.
Another major benefit is the security and privacy provided by cryptocurrencies. The use of cryptographic techniques secures that transactions are safe and cannot be tampered with, while also preserving the privacy of users by providing pseudonymous transactions. Lastly, cryptocurrencies provide a decentralized and transparent financial system through the use of blockchain technology. The distributed nature of blockchain ensures that no single entity has control over the network, reducing the risk of manipulation or censorship.
Pros of cryptocurrencies:
- Financial Inclusivity: Cryptocurrencies give access to financial services for the unbanked and underbanked, supporting financial inclusion and empowerment.
- Fast and Affordable Transactions: Cryptocurrencies allow speedy and low-cost cross-border transactions, lowering the reliance on traditional banking systems and intermediaries.
- Security and Privacy: Cryptocurrencies utilize robust cryptographic techniques to guarantee transactions while protecting the privacy of users through pseudonymity.
Cons of cryptocurrencies:
- Volatility and Risk: Cryptocurrencies are recognized for their price volatility, which can cause significant fluctuations and potential financial losses for investors.
- Regulatory Challenges: The regulatory landscape for cryptocurrencies is still evolving, resulting in uncertainty and potential barriers to widespread adoption.
- Scalability and Energy Consumption: Some cryptocurrencies experience scalability challenges, causing slower transaction times and higher fees. Additionally, the energy consumption associated with certain consensus mechanisms, such as Proof-of-Work, has sparked debate about environmental impact.
It’s important to note that the pros and cons of cryptocurrencies may differ depending on the specific cryptocurrency and its implementation. Moreover, the cryptocurrency market is dynamic, and ongoing developments may influence the advantages and disadvantages associated with these digital assets.
FAQ about ACE
How can I buy ACE in Burkina Faso?
You can buy ACE on most popular cryptocurrency exchanges like Binance, Coinbase, or Bybit. First, you'll need to register and then use a funding option like a debit card, or digital currency to purchase ACE.
Is it safe to invest in ACE?
Investing in ACE has similar risks as any cryptocurrency due to price swings. It's important to make informed decisions and only invest money that you can manage to lose. Choosing secure wallets and exchanges can help secure your investment.
What are the transaction fees for ACE?
Transaction fees for ACE are influenced by the network’s load and the specific wallet you're using. Some networks have fluctuating fees based on traffic, while others have fixed fees. Be sure to look at the fee structure before executing trades.
Can I convert ACE to other cryptocurrencies?
Yes, you can typically convert ACE to other digital assets using exchange platforms or services that offer coin-to-coin trading pairs. Many exchanges support trading ACE for other popular coins like Bitcoin.
How do I track the price of ACE?
You can track the price of ACE using a variety of platforms, including cryptocurrency tracking sites like Tradingview, CoinMarketCap, or CoinGecko. Many exchanges also provide real-time price updates via their trading interface.
How do I sell ACE from Burkina Faso?
To sell ACE, you can choose a cryptocurrency exchange that supports it. Simply send your ACE to the exchange, choose your preferred trade option (market or limit order), and select to get the funds in another cryptocurrency.
How is ACE different from Bitcoin?
ACE varies from Bitcoin in several ways, including its application, transaction speed, and core technology. For example, Bitcoin is primarily seen as a long-term asset, while ACE might have additional use cases like powering smart contracts.
How can I keep my ACE secure?
To ensure your ACE secure, it's essential to set up strong security, turn on 2FA on your exchange or wallet, and think about using a cold wallet for long-term storage. Avoid giving out personal data and be wary of phishing scams.
What is the best time to buy ACE?
There is no exact "best time" to buy ACE due to the fluctuations of the cryptocurrency market. Many traders use strategies like dollar-cost averaging (DCA) to buy at regular intervals, lowering the risk of market fluctuations.
What affects the price of ACE?
The price of ACE is impacted by factors such as buyer interest, overall cryptocurrency trends, developments related to the coin, government actions, and broader global market trends. Price volatility are typical in the cryptocurrency market.