Have you thought about investing in cryptocurrency and given thought to buying SAND, the decentralized protocol that powers the Sandbox ecosystem? Well, the truth is investing in SAND is a pretty good move, especially considering the insane volatility in the crypto market.
In today’s guide, we will explore how to buy SAND online. We will also bring you up to speed on the best exchanges for SAND trading. Our guide will include a step-by-step guide on how to buy SAND online, including some tips for beginners. After reading this guide, you’ll have everything you need to invest and trade SAND online confidently.
Let’s dive in right away.
What is SAND?
SAND is the native token of the Sandbox ecosystem, a decentralized protocol which allows creators, gamers and developers to participate and interact in the gaming metaverse. It is built on the Ethereum network and leverages non-fungible tokens (NFTs) to represent ownership of in-game assets and experiences.
For starters, Sandbox is a decentralized user-generated content (UGC) platform where players can create and monetize their content and gaming experiences. This typically includes building custom game worlds, designing trading NFT assets and participating in the platform’s governance.
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
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Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
The SAND token is the utility token that powers participation in the Sandbox ecosystem. It is also important for voting on governance decisions and accessing premium features.
While Sandbox is a leading gaming platform, it also doubles as a virtual ground that spurs creativity, experimentation and collaboration. Thanks to Sandbox, creators from different industries have the opportunity to build immersive and interactive experiences using NFT and other leading blockchain technologies.
Without mincing words, SAND is a brilliant and innovative project that is pushing the boundaries of what’s possible in the virtual and gaming space. Given its tremendous success, Sandbox has proven that it has the potential to revolutionize the way we create, consume and monetize content.
A brief history of Sandbox
The Sandbox project launched in 2017 and was founded by Arthur Madrid and Sebastien Borget. The team behind this project wanted to create a decentralized gaming ecosystem where creators, gamers and developers could interact and participate in the gaming metaverse. When Sandbox launched, it raised money through an initial coin offering (ICO) in 2017 by selling SAND tokens to investors.
Following a successful ICO launch, the Sandbox team spent the next couple of years building and developing the features and components of their project. This included building smart contracts and infrastructures that would power the platform.
Before launching its mainnet, the Sandbox team launched several alpha and beta versions of its platform, which were made available to a few users for the purpose of testing and feedback. The early version of the Sandbox platform allowed users to design and play games, as well as interact with NFTs and other blockchain technologies.
In December 2020, the Sandbox team launched its mainnet, which marked the official release of the Sandbox ecosystem. The launch also saw the Sandbox team launch the SAND token, the utility token of the Sandbox ecosystem. Since the project launched in 2020, it has continued to evolve and expand.
What is unique about SAND
If you have read to this point, we are sure you already know that SAND is the utility token of the Sandbox ecosystem, a decentralized gaming platform that allows creators, gamers and developers to interact and participate in the gaming metaverse. Here are a few things that make SAND unique.
- Decentralized gaming platform: SAND is the native token of the Sandbox platform. Being a decentralized gaming platform, Sandbox isn’t controlled by any single entity or organization. Thanks to its decentralization, Sandbox is resistant to manipulation and censorship.
- User-generated content: The Sandbox project creates an ecosystem that allows gamers to create and monetize their own content and gaming experience. For the best experience, users are required to use SAND as the primary currency for these interactions. What makes Sandbox special is that it gives gamers complete control and ownership of their in-game assets and experiences.
- NFTs: The Sandbox ecosystem uses NFTs to represent ownership of in-game assets. Not just that, gamers also have the option to trade and transfer these NFTs.
- Governance: By holding SAND tokens in their wallet, SAND holders can participate in the governance of the Sandbox ecosystem. This means SAND holders get to vote on decisions and proposals related to the direction and development of the Sandbox ecosystem.
- Virtual reality: The Sandbox team is focused on virtual reality. The aim of the project is to create a metaverse where players can fully enjoy the experience of navigating the virtual worlds. Looking at what the Sandbox team has achieved in the last couple of years, there is no doubt that the Sandbox team has been able to push the boundaries of what’s possible in the VR and gaming space.
How has SAND performed since launching?
SAND has generated a lot of buzzes, especially with the explosion of NFTs and metaverse in 2020. When SAND launched on exchanges in December 2020, it initially traded for $0.15. Since then, the price of the token has fluctuated significantly, with the project seeing a period of growth and decline.
Historically, SAND rallied to a whopping $7.4 during the last bullish market, prompting many investors to put their money into the project. Unfortunately, the bearish crypto market has seen SAND lose nearly 98% value from its all-time high. Although this may be disappointing, especially for people who bought SAND at its all time high, keep in mind that the entire crypto market is experiencing a massive sell-off right now, so it isn’t only SAND that has been on the back foot. As of today, the price of SAND is $0.56.
In terms of market capitalization, SAND has a current market capitalization of nearly $800,392,671, making it one of the larger and more widely traded digital assets. As per trading volume, SAND has a decent trading volume, with an average trading volume of $382,053,892.
Should I invest in SAND today?
To be honest, there is no right or wrong answer here. Plus, it’s important that you don’t feel cajoled to put your money into something you don’t trust. At the end of the day, only you can make that decision.
That said, SAND has performed incredibly well since it launched in 2020. When SAND launched, it initially traded for only $0.15. But since then, the digital asset has risen astronomically, reaching as high as $7.4 in the last bullish market.
Although the current bearish trend in the market has seen the price of SAND drop significantly, it is still trading above its listing price of $0.15. As of the time of putting together this post, SAND was trading for $0.53.
For those who didn’t get the chance to invest in SAND because it was too expensive at $7.4, now is your chance to get this cryptocurrency for a super low price.
We are sure the next bullish market will see SAND reclaim its place at the top. Plus, experts predict that we are soon to see another crypto bullish cycle.
How to buy Sandbox online – a step-by-step guide
To buy SAND tokens online, you will need to follow these steps:
- Find an exchange that lists SAND tokens. Some popular exchanges that may list SAND include Binance, Coinbase, and Kraken.
- Sign up for an account on the exchange. This will usually involve providing some personal information and verifying your identity.
- Deposit funds into your account. Most exchanges will allow you to deposit fiat currency (e.g. USD, EUR) or cryptocurrency (e.g. BTC, ETH). You will need to have one of these in order to buy SAND.
- Search for SAND on the exchange and select it. Look for the option to buy or trade SAND, and make sure you are buying it with the currency you deposited (fiat or crypto).
- Enter the amount of SAND you want to buy and review the total cost. Make sure you are happy with the price and the fees being charged by the exchange.
- Confirm and place your order. The SAND tokens will be added to your account on the exchange once the order is completed.
It’s important to note that the availability and process for buying SAND may vary depending on the exchange and your location. Make sure to do your own research and only buy from reputable sources.
How to Buy SAND Coin on eToro
Now that you know what SAND is, it’s time to show you how you can buy its native currency on the eToro platform. Let’s get started, shall we?
Step 1: Open an Account
Before you can buy, sell, or trade Sandbox on eToro, you’ll first need to open an account on the platform, as only registered users are allowed to trade on the platform. Thankfully, the process is easy and only takes a couple of minutes to complete. To register an account on eToro, simply visit eToro’s official website, click the “Join Now” button, and enter your personal information.
Step 2: Complete the Account Verification Process
After completing the registration process, you should get a notification on your email address requiring you to verify your identity. This is a requirement of most FCA-regulated brokers as they are required by law to comply with KYC procedures. So to verify your newly created eToro account, you are required to submit proof of identity and proof of address. Once you upload these documents, your account should be verified.
Step 3: Add Funds
With your account fully verified, the next thing to do is add funds to your account. Also, keep in mind that eToro offers an unlimited demo account, a brilliant option for people who want to test and improve their trading skills before trading with real money. If you’re just starting, we strongly recommend you spend time on the eToro demo account, as it will help hone your trading skills.
When you are ready to make a deposit, you can click on the “Deposit” button on eToro’s trading dashboard. And since eToro supports multiple deposit options, including credit/debit card, bank wire transfer, Paypal, Skrill, and Netteller, you can always choose which payment option is suitable for you.
Also, remember that eToro has a minimum deposit of $200. So keep that in mind when funding your account.
Step 4: Buy SAND token
To buy the SAND token on eToro, simply navigate to the search bar and enter SAND or Sandbox. Now, click on the first result that appears in the drop-down menu. When the SAND instrument page loads, navigate to the “Buy” button option and input the amount you’d like to invest. With that done, you can click on the “Open Trade” button. Doing this completes your Sandbox token purchase. To set a stop loss or take profit order, you’d need to navigate to the portfolio section. Doing this helps you to manage your trades and mitigate risks.
Conclusion
In conclusion, buying SAND tokens online is a relatively simple process that involves finding an exchange that lists SAND, signing up for an account, depositing funds, searching for SAND, and placing an order. However, it’s important to do your own research and only buy from reputable sources to ensure a safe and successful transaction.
Speaking of reputable brokers, we love eToro because of their value proposition.
eToro is a popular online broker that allows users to buy and sell a variety of assets, including cryptocurrencies like SAND. One reason eToro may be a good choice for buying Sandbox is that it is a regulated broker, which means it is subject to oversight from financial authorities and must follow strict rules to ensure the safety of its users’ funds.
Another reason eToro may be a good choice is that it is user-friendly and offers a wide range of features and tools to help traders make informed decisions. For example, eToro offers a variety of educational resources and market analysis, as well as a social trading platform that allows users to follow and copy the trades of other successful traders.
It’s worth noting, however, that eToro is not the only option for buying SAND, and you should carefully compare different brokers and exchanges to find the one that best meets your needs.
Frequently asked questions
Is it safe to buy SAND on eToro?
eToro is a regulated broker that follows strict rules to ensure the safety of its users’ funds. However, it’s always important to do your own research and only buy from reputable sources to reduce the risk of fraud or other financial crimes.
Can I buy SAND with a credit card on eToro?
Yes, eToro allows users to buy Sandbox and other cryptocurrencies with a credit card. However, keep in mind that some credit card companies may charge additional fees for cryptocurrency purchases.
Is eToro the only way to buy SAND online?
No, eToro is just one option for buying SAND online. Other popular exchanges and brokers that may list SAND include Binance, Coinbase, and Kraken.
What fees does eToro charge for buying SAND?
eToro charges a spread, which is the difference between the buy and sell price of an asset. The size of the spread will vary depending on market conditions and other factors. eToro may also charge other fees for services such as credit card deposits and withdrawals. It’s important to review the fees before buying Sandbox on eToro or any other platform.
Can I withdraw SAND from eToro to a personal wallet?
Yes, eToro allows users to withdraw their SAND and other cryptocurrencies to a personal wallet. However, it’s important to make sure the personal wallet is compatible with SAND and has sufficient security measures in place to protect your tokens.
