SushiSwap (SUSHI) is one of the latest and most promising projects in the cryptocurrency market. Due to this reason and many others, people are searching for how to buy Sushi crypto coin. Fortunately, there are many ways to do so.
In this full guide, we are going to tell you how to buy Sushi crypto coin. We will share all the information you should have in order to understand how Sushi works, what is it and why investors want to get access to it.
What is SushiSwap (SUSHI)?
SushiSwap (SUSHI) is a relatively new cryptocurrency project that offers users the possibility to buy and sell ERC-20 virtual currencies in a decentralized way. Basically, SushiSwap is an automated market maker (AMM) that runs on top of the Ethereum (ETH) network.
This platform has also been expanding over the last months as a competitor to Uniswap (UNI). There are many solutions and services offered by SushiSwap. Users can trade ERC-20 currencies, earn rewards by depositing funds in pools, borrow assets and farm other tokens.
Thus SushiSwap is a platform that offers many different services and that leverages blockchain technology to decentralized financial solutions. At the same time, SushiSwap works with the SUHI virtual currency.
This is a token that runs on the Ethereum network and that powers the SushiSwap AMM exchange. At the same time, investors that hold the SUSHI digital currency are able to get access to community governance. This allows them to vote on different community proposals. Moreover, users can also stake their SUSHI coins to receive rewards.
Due to these services and solutions offered, there are investors that would like to know how how to buy Sushi crypto coin. Fortunately, it is not so difficult to do so and to get access to this virtual currency. It would require users to open an account on an exchange where this virtual currency is supported or use the SushiSwap platform.
What is Decentralized Finance?
To understand how SushiSwap works and why people would like to know how to buy Sushi crypto coin, we need to know what decentralized finance (DeFi) is. This is a term used to define systems and protocols that enable users to have access to financial solutions without depending on a centralized third party.
In this way, it becomes faster and easier for investors to get access to services that would otherwise be provided by centralized parties for very high fees and to just some lucky individuals.
The centralized financial world led by banks and other financial institutions has left millions of individuals outside the market. At the same time, it has made it very difficult for investors to control their funds. We have heard many times how bank accounts were blocked and how transfers were stopped.
With the decentralized finance market, users can get access to different services such as loans, funds’ borrowing, crypto trading and more. Ethereum (ETH) and other platforms like the Binance Smart Chain (BSC) have been the main options for users to execute smart contracts and get access to DeFi platforms.
Both SushiSwap and Uniswap run on top of Ethereum. Platforms such as PancakeSwap (CAKE) or ApeSwap (BANANA) run on the Binance Smart Chain network. There are other blockchain networks facilitating the expansion of DeFi solutions.
How to Buy Sushi Crypto Coin?
There are two different ways to get access to Sushi. You can buy Sushi crypto coin using centralized or decentralized exchanges. Binance, OKEx or KuCoin are examples of crypto trading platforms that are centralized but offer support to SUSHI.
Centralized platforms are usually very easy to use and they support a wide range of payment methods from all over the world. That makes it easy for users to get access to the virtual currencies they want.
However, centralized platforms are also not the best ones in terms of security and decentralization. When you hold your funds in a centralized exchange, you are not the owner of your funds. You do not have control over your private keys and the exchange might decide to block your account.
At the same time, centralized exchanges require you to pass tight know your customer (KYC) and anti-money laundering (AML) controls. Despite that, centralized exchanges also offer different services and solutions that could be very useful for investors.
Decentralized exchanges (DEX) are also a good option for those users that want to buy Sushi crypto coins in just some steps. These platforms, as we mentioned before, do not depend on a centralized authority and they are very useful for users that want to be in control of their funds at all times.
Some decentralized exchanges include SushiSwap, Uniswap, PancakeSwap and ApeSwap, among others. These platforms are now offering several services and could become even larger in the future. Nevertheless, if you are new to cryptocurrencies, the best thing to do is to use a traditional virtual currency exchange. This would make your experience much easier and faster.
SushiSwap is the official platform to handle and manage SUSHI coins. If you want to know how to buy Sushi crypto coin, you should use SushiSwap. With this exchange, you can not only buy this virtual currency but also get access to many others.
SUSHI has been integrated into this platform for users to get access to unique features. By using SushiSwap, you would be in an ecosystem that would be built around the SUSHI virtual currency. Rather than engaging only with other virtual currencies, there is a focus on SUSHI.
This platform might be the best to get access to SUSHI and use it in the platform to receive rewards over time. Although there are other exchanges, SUSHI is the one that offers the largest number of options to handle and use your SUSHI digital assets.
Let’s now focus on Uniswap (UNI). This platform was one of the first to be released to the cryptocurrency market offering decentralized finance solutions. Throughout 2020, this exchange was able to attract a large number of users from all over the world that were interested in handling not only SUSHI but also many other ERC-20 tokens.
Uniswap works as an Automated Market Maker and it has different features that make trading activities easier and more decentralized for users. In order to get access to this platform, you should use Metamask or even MyEtherWallet. These are the same wallets you need to also use SushiSwap.
Automated Market Makers are platforms that do not rely on order books. Everything depends on the liquidity that is provided by other users to so-called pools. If there is a trader that purchases an asset from a pool, the exchange would automatically push the price higher of the digital asset that was purchased.
If you want to know how to buy Sushi crypto coin, this platform is definitely one of the best you can use right now. They have added different solutions for SUSHI users. Additionally, you will be able to get access to many other solutions.
Binance is one of the largest exchanges in the world. This platform has been growing as one of the leading exchanges to trade, hold, receive and send virtual currencies. Binance has also attracted other investors that wanted to lend, borrow and stake their funds.
With these things in mind, we need to know that Binance is a centralized platform. This does not mean, however, that Binance is not a good platform to buy SUSHI. Indeed, it is very easy to use, it is user-friendly and it includes a wide range of other services that make it possible for users to have a unique experience in the cryptocurrency market.
When using Binance, you would be able to deposit funds in fiat currencies (EUR, GBP and others), and this would make it possible for you to buy the digital assets you want. This is one of the favourite functions of many users that do not know how to get access to DeFi platforms.
Additionally, Binance has a very easy-to-understand user interface with regular updates that reduce the friction that users have when they handle digital assets. Over the last years, this exchange has been adding new functionalities to attract a larger number of users.
If you want to know how to buy Sushi crypto coin, the best thing you can do is testing Binance and analysing your experience with it. If you do not like it, there will be many other exchanges that are also offering support to SUSHI.
Another recognized exchange with global reach that you can use to buy SUSHI crypto coin is Okex. This platform is another option that you have if you want to buy SUSHI crypto coin. If you are a professional trader and you want to have access to SUSHI, then this is one of the best platforms you can find right now.
OKEx is among the largest crypto exchanges in the market in terms of the trading volume. At the same time, the platform offers Bitcoin futures trading for users that want to have a more professional trading experience.
If you want to buy SUSHI crypto coin, OKEx would be a good place to do so. They do not only have a web-based trading platform, but you can also download software that would run directly on your computer and reduce problems with the web browser.
For traders, this is a very useful platform. Users that prefer to have fast access to SUSHI might prefer to use Binance and purchase this virtual currency. Instead, if you prefer to trade SUSHI and speculate with its price, then OKEx would be a very useful platform to do so. But there are other options if you do not like this platform.
KuCoin, for example, is a cryptocurrency exchange that focuses on privacy. Users in the cryptocurrency industry care a lot about privacy, and this platform didn’t have a Know-Your-Customer (KYC) process in place for traders. This is why it was very useful for investors that wanted to keep their privacy safe.
Nowadays, however, it had to add a KYC procedure in order to be compliant with authorities around the world. This exchange is known for having added support to a large number of virtual currencies and tokens. This was one of the competitors to Binance in the early days of the platform. It continues to be a competitor to Binance.
This platform has also created a digital currency called KuCoin Shares (KCS). If you want to buy SUSHI, you can also do so on this platform. KuCoin has also been adding services for users that wanted to get access to more advanced solutions.
For example, if you want to trade SUSHI you can do so on this platform. If instead, you want to buy the virtual currency and hold it for a longer period of time, you can also do so.
The last exchange that we have added to this list of exchanges where to buy SUSHI is Coinbase. This exchange is also one of the most popular in the world and it makes it possible for traders to get access to SUSHI and also other virtual currencies.
Coinbase is known for being a very useful crypto exchange for newcomers and beginners that want to get exposure not only to Bitcoin but also to other virtual currencies. Coinbase has also added unique trading pairs for the SUSHI digital asset for users that are also searching for more advanced trading solutions.
This is certainly a great exchange if you want to buy SUSHI and get exposure to the DeFi market. SUSHI, UNI and CAKE and three of the largest DeFi tokens in the world. If you want to get exposure to DeFi, then these three assets should be considered as a proxy to understand the entire industry.
If you want to hold SUSHI for a long period of time, then you should pay close attention to how you store your funds. If you store your money in a cryptocurrency exchange, then you might be at risk.
Using a hardware wallet is the best way to protect your virtual currencies. Ledger, one of the most purchased hardware wallets in the cryptocurrency market, supports ERC-20 tokens, including SUSHI.
If you are a long-term holder, purchasing a Ledger Nano wallet is the best thing you can do. However, if you do not want to pay for these types of wallets, you can always withdraw the funds from exchanges. You can use your own software wallet (desktop or smartphone) to protect your funds and have access to your private keys at all times.