How to Buy $ACK — Beginner
A simple guide for noobs
The best way to understand the crypto space is to practically buy one of your favourite crypto. In this guide, we’ve mentioned instructions on how to purchase $ACK tokens.
Whether to invest, what you invest in, and when you invest is up to you.
This guide is not investment advice.
The first thing to know for a Beginner is that there are 2 kinds of exchanges (marketplaces) to buy & hold crypto- Centralised & Decentralised Exchanges.
The second thing is that $ACK as of now is available on DEX (Decentralised exchange) named PanCakeSwap. So, we will just need a wallet to buy and hold $ACK.
Imagine you want to convert your INR into USD. You take your cash to a foreign exchange counter (the exchange). You give them INR, they take a cut and give you the rest in dollars. You then put the dollars in your wallet (the wallet). Buying $ACK token is similar to that, but the transactions are digital.
We will start with setting up your wallet first
Step 1 — Download the Wallet App
The wallet I recommend for complete beginners is called Trust Wallet. You can download it as an app on your phone. But get started by clicking this link.
Look for this logo in your app store
Trust Wallet is a decentralised wallet which gives you power to control your money. It is both a wallet and an exchange in one, so it will make your first experience buying $ACK much smoother.
Step 2: Create a Wallet
Remember the first time you got a bank account? It may have seemed easy at the time, but in retrospect, the process was pretty intensive. You had to show up at a physical bank branch. You also had to show up during banker’s hours during the middle of a work day. You had to present government issued photo ID — to a manager — and if the manager wasn’t there, you had to come back another day. You had to fill out form after form — all on paper — and sign them so they could store them in a filing cabinet. All to have a place to store your money.
In a decentralised wallet like Trust Wallet, you just need a device and an internet connection.
- Click on “Create a New Wallet”
- Verify the 12 words Recovery phrase (your private key) — Make sure you save your 12 words recovery phrase offline somewhere safe.
Now your wallet is set and you should see the below home screen -
Trust Wallet Home Screen
Step 3: Understand & apply the highlighted areas:
1- There are thousands of crypto, not every crypto is pre-enabled on your wallet. To enable ACK token click at highlighted area.
Then go to Add custom tokens option, choose Smart Chain Network and paste the smart contract of ACK i.e. 0xf7b5fb4607abfe0ecf332c23cbdcc9e425b443a8
Check below screen:
The $ACK token is added now:
2- In order to buy ACK tokens and to pay transaction fee, you will need BUSD & BNB.
Click on the Buy button and buy BUSD for the amount you wanna invest in ACK tokens. Also buy at least 0.05 BNB to pay for transaction fees.
In case, you do not have right payment platform to add BUSD & Smart chain tokens (BNB), you can also send BNB & BUSD using BEP-20/Smart chain network from Binance app (World’s number 1 Centralised exchange).
Click here & register and complete your KYC.
Then add funds to buy BUSD & BNB and send it to Trust wallet using BEP-20/smart chain network.
3- Once you have received BUSD & BNB/Smart chain coins in your Trust Wallet, you will need to click on Dapps as shown in above highlighted area and go to Pancakeswap exchange to swap BNB for ACK tokens.
From below image — you can take the URL that you have to mention and how the screen will show while swapping BUSD with ACK.
Remember to change the network to smart chain (highlighted below).
Some portion of smart chain tokens will be deducted from your wallet for completion of the transaction (It is the gas/transaction fee).
4- The SETTINGS option in Trust Wallet will help you with below:
- You can create more multi wallets
- You can see your 12 words phrase private key
- You can go to preference and opt for the currency you would like to see any coin’s value in.
Congratulations! You are now the proud owner of $ACK tokens.
You have joined some of the world’s brightest minds in a technology that is transforming the financial sector and disrupting some of the oldest societal systems we know.
Enjoy the ride as you watch the price rise and fall, plummet and go to the moon.
Your job now is to spread the word. Share this post with a friend and send them some $ACK tokens.
For most of us, it’s a neat way to participate in a new economy and future of Metaverse.
Start learning more about the impact cryptocurrency and more importantly, blockchains, are going to have on society to understand why this technology really matters.