What is Klaytn(KLAY)?
Kakao's global public blockchain project Klaytn is an enterprise-grade, service-centric platform that brings user-friendly blockchain experience to millions. It combines the best features of both public blockchains (decentralized data & control, distributed governance) and private blockchains (low latency, high scalability) via an efficient 'hybrid' design. Klaytn is secured by participation from numerous highly-reputable brands around the globe, working together to create a reliable business platform atop a robust system of decentralized trust. Klaytn enables businesses and entrepreneurs today to capture value using blockchain technology.
Klaytn aims to be a platform for NFTs and Decentralized Finance (DeFi) in Asia. Klaytn is also working with leading global institutions to develop the underlying software platform for Central Bank Digital Currencies (CBDC).
KLAY is the native utility token of the Klaytn network with the following existing and planned use cases:
Network usage: Users will need KLAY tokens to trade on the Klaytn network, similar to ETH.
Mining: Users can provide liquidity through various DeFi protocols (KLAYswap, Klaystation) to grow tokens of other projects, or stake KLAY tokens to obtain KLAY staking rewards. Staking KLAY tokens (sKLAY) can also be used for liquidity mining.
Minting NFTs: Users can mint NFTs on the Klaytn network, which has partnered with OpenSea to launch NFTs minted through the Klatyn network.
Where to Buy Klaytn(KLAY)?
According to the current information collected by CoinCarp, you can't buy Klaytn(KLAY) directly with fiat by traditional financial methods(such as Paypal or Bank Cards).
To buy Klaytn(KLAY), you'll need to purchase another cryptocurrency that can be easily purchased by fiat, such as ( USDT, BTC, ETH, or BNB) first, and then send them to the crypto exchanges or crypto wallet which supports Klaytn(KLAY) trading.
Many crypto exchanges or crypto wallets provide USDT over-the-counter (OTC) trading services and support buying USDT with fiat currency. In that case, it is easy for you to choose a crypto exchange or crypto wallet to buy, sell, and trade USDT with your local fiat currencies, such as USD, EUR, TRY, PHP, etc. You can select from one of the crypto exchanges and crypto wallets that support OTC USDT trade listed by CoinCarp
Once the funds arrive in your wallet, you can trade them for Klaytn(KLAY). You can trade from one of the centralized exchanges (CEX) listed below which support Klaytn(KLAY) trading in spot market:
Klaytn Markets
| Exchange | Pairs | Price | Volume | Volume% | 24h% | Updated |
|---|---|---|---|---|---|---|
| KLAY/JPY | $0.091 | $5,212.93 | 99.64% | 5.15% | Recently |
| KLAY/USDT | $0.0801 | $18.74 | 0.36% | -- | Recently |
| KLAY/USDT | $0.0899 | $3,143,632 | 0.00% | 4.56% | Recently |
* Price Excluded ** Volume Excluded
How to Buy Klaytn(KLAY) From CEX?
Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. ( Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
Step 3: Use fiat to buy USDT, ETH, or BNB. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card.
Step 4: Transferring your USDT, ETH or BNB, etc. purchased by fiat to the CEX that supports Klaytn(KLAY) trading in spot market. If the CEX that you're using both supports purchasing USDT, ETH, or BNB via fiat, and Klaytn(KLAY)-USDT, Klaytn(KLAY)-ETH, or Klaytn(KLAY)-BNB, etc, trading pair, then you can trade in the same platform and don't need to transfer to another platform that supports Klaytn(KLAY).
Step 5: Buy Klaytn(KLAY) in spot market by USDT, ETH, or BNB.
Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. As for the tax issue, you may consult the local department for more information.
