How to Buy Echelon Prime Crypto: Full Beginner Guide

The Bitcoin and Ethereum are the big players in the cryptocurrency world with their own unique features and purposes. However, new digital currencies are being developed every now and then to tackle a different problem and offer better service than others can.

What could be the motive?

To be among the popular and best cryptocurrencies like Bitcoin and Ethereum as top guns and place itself as the new face of cryptocurrencies. However, it is not that easy to do so. It takes a lot of effort, research, understanding of the problem, and a high level of expertise in the field.

But why are we talking about this?

Because your search keyword was about Echelon Prime crypto and it is the one that is offering something new to the industry and bridging the gap between decentralized finance and immersive gaming experiences.

In simple words, the native token of the Echelon blockchain ecosystem is designed in such a way that it can be utilized in the new generation of Web3 projects or games. And the main reason to do so is to provide a sense of ownership, more control, and a source of generating income for the players.

So, if you are interested in this crypto and how to buy Echelon Prime crypto, stick with this blog, the Echelon roadmap, till the end and learn everything about it. You will start with a definition, followed by the prerequisites before buying Echelon Prime. Then, you will head to the step-by-step guide to buy Echelon Prime. After that, you would learn about the common mistakes that you could make while buying crypto. Lastly, you will reach the conclusion and FAQs to help you learn more.

Let’s begin.

What is Echelon Prime Crypto?

Echelon Prime Crypto is the native token of Echelon Prime Foundation, a non-profit organization focused on enhancing the next generation of Web3 gaming. The unique feature that makes it stand out is that it offers a combination of decentralized finance and an immersive gaming experience, mainly Web3 gaming industry. This innovative feature places Echelon Prime as a promising player in the landscape of the cryptocurrency industry.

Some of the key features of the Echelon Prime crypto are:

Active Participation in Governance

The PRIME holders get to vote on key decisions regarding the direction and vision. It’s like being a shareholder of a game’s future. So, if you own PRIME, you get the chance to participate in shaping the roadmap of the ecosystem by committing your PRIME token to the Echelon network. This process is called Echelon staking. And as a result of Echelon staking, you can earn rewards, typically in the form of additional PRIME tokens.

Play-to-Earn(P2E) Rewards

This is where the fun and profitable part begins. You get to play games like the popular sci-fi card game Parallel, and you earn PRIME cryptos in return. So basically, the more you engage, the more you earn.

Access to Premium Services

There are some cool features and premium content inside the Echelon ecosystem that only PRIME holders can unlock. And it is called PRIME Sinks, which is a cool way to say “exclusive access.”

Limited Supply

The total number of PRIME tokens will only ever be 111,111,111, not a single token more. That’s it. No surprise printing. As a result, this creates scarcity, which is always a good thing for any token trying to become valuable over time.

Prerequisites Before Buying Echelon PRIME

Before heading to the step-by-step guide to buy PRIMR tokens, there are some requirements you need to complete. Or else it can be a trouble for you. So, let's explore the key prerequisites to consider:

Set Up a Compatible Digital Wallet

Echelon Prime is an ERC-20 token that operates on the Ethereum blockchain. Therefore, you will need a digital wallet that supports ERC-20 tokens, which is called the Echelon wallet. Some of the popular ones you can choose from are MetaMask, Trust Wallet, and Coinbase Wallet. But, before installing the digital wallet, make sure that you download the wallet from the official website, or else you could be at great risk of being scammed.

Choose a Reliable Cryptocurrency Exchange

Not all exchanges list Echelon Prime, so it's crucial to select one that does. Some of the reputable platforms like Kraken and Coinbase support PRIME trading.

And, when choosing an exchange, consider factors such as security measures, user interface, transaction fees, and customer support to select the best one for you.

Complete Identity Verification

In most cases, centralized exchanges require users to complete a KYC process. This stands for Know Your Customer, which involves submitting your identification documents and, in some cases, proof of address. Plus, completing KYC enhances the security of the platform and complies with regulatory standards.

Understand Transaction Fees

One last thing on the prerequisites is to be aware of gas fees. It is a fee that is added while transacting on the Ethereum network. And this can fluctuate based on network congestion. So, it's essential for you to monitor these fees to avoid unexpected costs. Additionally, to make it convenient for you, some exchanges provide you with estimates of gas fees before confirming a transaction.

Step-by-Step Guide to Buying Echelon Prime

1. Create and Verify Your Account

Your first and foremost step in this process is to sign up on your chosen exchange to create an account. Here, you need to provide your email address and set a strong password. Most platforms will require your identity verification (KYC) to comply with regulations. This process typically involves submitting a government-issued ID and proof of address.​

2. Deposit Funds into Your Account

Once your account is set up and verified, you have to deposit funds to purchase PRIME tokens. To make the process simple for you, many exchanges typically support various funding methods, including bank transfers, credit or debit cards, and cryptocurrency deposits. However, you need to be aware of any associated fees and processing times.

3. Navigate to the PRIME Trading Pair

After depositing funds into your account, locate the PRIME trading pair. For instance, on Kraken, you can find it under "PRIME/USD" or "PRIME/USDT". Make sure that you're selecting the correct pair, or else you might end up with unintended assets.​

4. Place Your Order

Now, the next step for you is to place your order. In most cases, there are two types of orders you can place, and they are:​

Market Order

Buys PRIME at the current market price.​

Limit Order

Allows you to set a specific price at which you want to buy PRIME.

5. Secure Your PRIME Tokens

After purchasing, you have the option to transfer your PRIME tokens to a personal wallet for added security. In particular, hardware wallets like Ledger or Trezor are recommended for long-term storage. It is because they reduce the risk associated with keeping assets on exchanges.​

Common Mistakes to Avoid When Buying Echelon Prime

You have explored the whole process of buying Echelon Prime, and you might be confident that you would not make any mistakes while doing it. But, there are still chances of making a teeny tiny mistake. So, here are the most common mistakes to avoid when buying Echelon Prime:

No Research

The most common mistake that a beginner can make is jumping straight into the purchase of PRIME tokens without comprehensive research. However, it is crucial for you to understand what Echelon Prime is, its role in Web3 gaming, official Echelon trading platforms, and its market dynamics. And if you solely depend on the market trends and hypes without any research and verification, then it can be a great mishap, and you could even lose your investment.

Using Incompatible Wallets

You are now aware that Echelon Prime operates on the Ethereum blockchain as an ERC-20 token. But, you might not be aware that attempting to store PRIME tokens in wallets that don't support ERC-20 tokens can result in the loss of your assets. And this is what most beginners do and regret later.

Downloading Wallets from Unofficial Sites

The cryptocurrency space is full of phishing attempts and fraudulent schemes. You can find that many attackers often impersonate official platforms or team members to steal your credentials or funds.​ And, if you are downloading a wallet from an unofficial site makes it easier for the scammers to steal your information or even funds. So, make sure to download wallets from their official website to avoid getting scammed.

Ignoring Transaction Fees

As mentioned in the above sections, Ethereum transactions require gas fees, which can fluctuate based on network congestion. And, ignoring these fees can lead you to unexpected costs or failed transactions.

Conclusion

Echelon Prime blockchain is offering a collaboration of cryptocurrencies with Web3 gaming, giving a chance to earn while doing their favorite task, gaming. Plus, being in the Ethereum blockchain makes it even more secure, and the implementation of smart contracts is more viable. So, with all these features, its popularity has been increasing day by day. Along with that, the confusion in the buying process was increasing.

This is why we created this blog to help you clarify the confusion and confidently buy the Echelon Prime token without making any mistakes. We helped you explore every aspect of this crypto, starting from the definition, followed by the prerequisites before buying the tokens. Then, you learned every step to buy Echelon Prime crypto. Further, you also explored some of the common mistakes that you could make, resulting in great loss.

Hopefully, as we are at the end of this blog, you are now ready to buy Echlon Prime Crypto with an informed decision.