ElonGate is among the newest cryptocurrency that gained recognition pretty quickly. You may be surprised the story began with a meme. So it started as a joke and then slowly grew out of it. The tweet of Elon Musk sparked the idea. He was telling his Twitter fans that if he were ever implicated in any scandal, it should be named “ElonGate,” hence the name of the cryptocurrency today. When the tweet was published, an individual fan immediately started creating ElonGate’s website. ElonGate website.
The token began trading on April 20, 2021, on Pancakeswap. It was listed as $0.000000084. On April 21, it reached its highest level, which was $0.000001000 in tokens. Again, this is approximately 1,200% since the token’s first trading. Since then, it’s gone back to $0.00000080, which is about ten times the initial trading price. It is crucial to be aware that these tokens are among the most volatile investment options.
The token, ElonGate, is a BEP-20 token that is part of the Binance Smart Chain, and it is similar to another one that is an ERC-20 token based on Ethereum. However, the Binance Smart Chain network is utilized instead of the Ethereum one. This is more suitable for investors with lower funds because the Ethereum network has many fuel costs.
Binance Smart Chain Binance Smart Chain network can handle transactions at a cheaper cost than Ethereum. It is assisted by the proof-of-stake system, which helps to secure the blockchain. Because Binance is the sole control of many of its network’s validators, it is more central than Ethereum.
In terms of the economics of tokens, ElonGate is quite similar to other tokens, such as SafeMoon. Both tokens’ top stocks are enormous. SafeMoon has a capacity of 640 trillion tokens, while ElonGate has 600 trillion. This compensates for the $400 trillion worth of tokens burnt already.
The cost of ElonGate is kept at a low of one cent due to. When investors exit their investment, and the tokens are burned. In addition, some of the proceeds collected from fees will be donated to an account for the charity. The token earnings are donated to a charity the community can choose.
How to Get ElonGate Crypto:
It is essential to understand how to purchase ElonGate cryptocurrency if you intend to sell it. So, here are the steps you’ll need to follow:
1. Open a Binance Account:
The first thing to do is create an account on the internet with Binance. This is how you can buy ElonGate. You’ll need to wait for the Binance account to be approved, particularly in the U.S. It could take a few days. If you are using an IP address not located in America, U.S., it may just take a few minutes to access the Binance accounts.
Once you’ve completed registration, the first step is to buy BNB tokens. BNB tokens. Purchase as many as you’d like to put into ElonGate. This is because Pancakeswap utilizes BNB tokens to purchase BEP-20 tokens.
2. Download an External Crypto Wallet:
If you plan to make trades on Pancakeswap, it is necessary to have an outside cryptocurrency wallet. The two most suitable wallets to use for Pancakeswap trading can be found in Metamask along with Trust Wallet. MetaMask is available for purchase through the Google Chrome store, while Trust Wallet can be downloaded onto your Android and iOS phone. Metamask can be used as an extension to Google Chrome, which will allow you to connect when you’re on your PC and are connecting to a website that is compatible with it.
It is essential to know that once you have finished the download, Metamask will be automatically assigned to be connected to the Ethereum network. If you wish to change it up with Binance Smart Chain, you must click on the Binance Smart Chain. You must click on it in the middle of the EthereumMainnet’s wallet. After that, you’ll have to go into “Custom RPC.” When you’re there, the following parameters must be established:
- Name of the network Name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed1.binance.org:443
- ChainID: 56
- Symbol: BNB
- Block Explorer: https://explorer.binance.org/smart
Once you have connected, you will be linked to the Binance Smart Chain after entering the required information. Then, you can transfer BNB tokens BNB tokens into the MetaMask wallet that will enable the Pancakeswap exchange to commence.
3. Buy the ElonGate Tokens:
Now you’re ready to purchase ElonGate. The best part to note is it’s straightforward to buy tokens from Pancakeswap. All you need do is look for it. An automatic market maker will provide you with the ElonGate price based on how you want to spend. However, there shouldn’t be a lot of slippage rate as long as you don’t purchase several hundred thousand dollars.
It’s still vital to examine the slippage before entering the transaction confirmation.
How to Trade, Sell and Convert ElonGate:
If you’re looking to trade, sell and convert ElonGate tokens, you can do it via Pancakeswap in the present. The selling of ElonGate tokens is done via Pancakeswap. Pancakeswap DEX. Trading the tokens in exchange for BNB tokens is also possible. You can also transfer BNB tokens BNB tokens directly to the Binance account. After that, you can transfer them into real USD.
The Bottom Line:
You can purchase ElonGate tokens with ease using Pancakeswap. Although the token was initially created as a joke based on Elon Musk’s tweet, it grew and eventually became one of the most popular tokens available on the market and the most practical ones. It is an excellent opportunity to expand even more in the future if traders begin trading it.
It is essential to establish a Binance account and an external cryptocurrency wallet if you plan to purchase ElonGate. The creation of a Binance account could take several hours for U.S. citizens, but individuals from other countries might be able to buy ElonGate immediately.