In the crypto world, many complex things are happening every day. Sometimes people have trust in a specific cryptocurrency, and the next moment, people lose faith in that cryptocurrency.
Now the question is how you can buy Namecoin or NMC. But, I will suggest that before buying the cryptocurrency, you need to understand a few factors. So, you should first make a good Namecoin price prediction, know about this cryptocurrency’s aspects, and find ways to buy it.
What Is Namecoin?
According to CoinMarketCap, Namecoin is in the 651st position with a value of $1.08. Namecoin first launched in the year 2014 with a price of around $1. In the last 24 hours, it has increased its value by 7.16%. The total supply of Namecoin is 21,00,00. The all-time high price was $13.11 in November 2013.
Analysis
Right now, the value of NMC is $1.08, and the all-time high price is $13.11. Now, we can see a huge difference if we compare these two different prices. If someone invested in 2013, then they are at a huge loss.
Now, if we compare this coin with other famous coins, the chart shows that NMC’s price for the last 90 days has so many ups and downs. Excluding Binance, every other coin is unable to hold its price. So, if you want to invest in NMC, you need a very good Namecoin price prediction.
How To Buy Namecoin?
The fact is, you can not buy Namecoin from any major exchanges in the United States. But, if you have Bitcoin, Ethereum, Litecoin, or any other top cryptocurrency, you can trade NMC with it. But be sure that you are following all the legal restrictions.
There are several decentralized exchanges that offer you to buy NMC. A few examples of these decentralized exchanges are Bisq, AtomicDEX, Block DX, and others.
You need to sign up on these exchanging platforms and create an account. Then, you need to connect a crypto wallet with this platform. Now, if the platform allows you to buy Namecoin, then simply buy it.
And, if it doesn’t allow you to buy Namecoin directly, then follow these steps. The first step is to buy Ethereum or other supported cryptocurrencies. After that, you can trade Namecoin with the cryptocurrency that you already have.
Remember one thing before buying or trading Namecoin. You should always compare the prices that the different platforms are offering you. Then choose the best price and best platform, and buy Namecoin. And also, to get the best benefit, you need the best Namecoin price prediction.
Best Wallets To Store Namecoin
Obviously, there is an option that you can keep your NMC on the exchanging platform. But I suggest you move it to your wallet for safety and security. There are people who like to transfer their assets to their wallets for total ownership.
These days most people use hardware wallets for safety and security purposes. However, you can always carry a physical device all the time, and it will enhance security. You can also keep your other cryptocurrencies in the same physical wallet.
Trade, Sell, And Convert
Don’t worry, if you see that Namecoin’s price is decreasing, you can always trade, sell or convert NMC with any other reliable cryptocurrency. To do so, follow these steps.
- Sign in to the exchanging platform, which has your NMC.
- Choose the option, what you want to do, trade, sell or convert. Then, you can place a bid to sell your NMC.
- Connect your wallet with the platform if you have kept your cryptocurrencies in a digital wallet.
- Now, choose the amount of NMC you want to trade, sell or convert.
- If you can see that the prices are appropriate, then confirm and close your sale.
- Finally, your transaction is complete.
- You can move your asset to a physical wallet.
Namecoin: A Good Or Bad Investment
You are here, which means you have a pretty good idea about cryptocurrency. However, investing in cryptocurrency can be a huge risk.
If you want to reduce the risks, then you should consider these factors.
- Do not make a quick decision when it is about money. Instead, spend a lot of time researching and then decide to invest.
- If you have been trading cryptocurrencies for a long time, then you have plenty of experience. In this case, go for any exchanging platform you want. But, if you are new in the crypto world, then go for well-known exchanges.
- Try to keep your crypto assets in a hardware wallet. This is very safe and secure.
- Always look for the founder, developer, investor, and marketing team before investing. If you see trusted persons backing up the cryptocurrency, go for it. And, always remember anonymous team means a red flag.
Try to do all these things before you go for Namecoin. And I hope your Namecoin price prediction will be the best for the best interest.
Our Verdict
I think now you have a pretty good idea about Namecoin and how to buy it. However, there is everything you need to know before investing.
However, if you still have any queries regarding Namecoin, feel free to ask in the comment below.
Thank you.
