How To Buy Metal – Buy Metal In Under 5 Minutes

The Metal network is designed to make the process of executing cryptocurrency transactions fast, secure, and seamless. According to the team, when you utilize Metal Pay to send and receive tokens, transactions are not only low-cost but instant.

If you want to know more about how to buy Metal, this guide is for you. Here, we cover all aspects you need to understand to buy the Metal token in under 10 minutes from start to finish.

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How to Buy Metal – Choose an Investment Platform

Although you might find that Metal is only supported across a very small number of platforms, it’s still crucial to choose the right provider. From our research, Binance is the best platform to buy Metal.

  • Binance – Overall Best Place to Buy Metal

Further down on this page, we have provided a full review of this platform so that you have a more in-depth understanding of its services.

How to Invest in Metal – A Quick Guide For 2021

Here’s a brief outline on how to buy Metal. Using Binance, you can complete this process within a couple of minutes.

  • Step 1: Open a Binance Account – You can only buy Metal after you’ve created an account on Binance.
  • Step 2: Upload Valid ID – Binance now requires all users to upload valid identity documents – should you wish to deposit funds with fiat money. This is in line with the anti-money laundering laws.
  • Step 3: Make a Deposit – To buy Metal, you must fund your Binance account. You’ll have to do this by purchasing USDT, BTC, or any of the supported markets for Metal. You can purchase these base tokens with a debit or credit card instantly.
  • Step 4: Search for Metal – Find the search box and input ‘MTL.’ This will display the MTL markets available on Binance.
  • Step 5: Buy Metal – From the listed markets, choose the one you intend to trade. Then complete the process by inputting the number of MTL tokens you want to buy and finalize the order.

After purchasing Metal tokens, you can choose to leverage the platform’s secure wallet facilities for storing the coins.

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Where to Buy Metal – Full Platform Review

Before deciding on where to buy Metal, you’ll want to assess different platforms to be sure you’re making the right choice. Some of the factors you can consider at this stage include credibility, listed markets, fee structure, and more.

We have examined the cryptocurrency market and determined that the best place to buy Metal is Binance. In this section, we’ll discuss the various features of this platform to help you adequately understand why it’s a great place to purchase the token.

Binance – Overall Best Place to Buy Metal

With billions of dollars in daily trading volume, Binance is the largest cryptocurrency exchange in this regard. The platform was launched in 2017 and has since then grown to become a reputable option for many investors in the market. Based on the platform’s popularity, it’s become one of the most notable places where many beginners start their cryptocurrency investment journey. In fact, the exchange has recently gained entry into the US cryptocurrency marketplace.

That is to say, if you’re a US client, the exchange has a platform dedicated to you. Here, you have access to 50+ cryptocurrency markets including Metal. However, if you’re a buyer outside the US, you can access over 100 cryptocurrency tokens. Essentially, your location matters when determining the number of tokens you can buy on the platform. This also extends to the fees you pay when utilizing this exchange.

binance review

As a US client, you pay 0.5% on debit/credit card transactions when you buy a token on Binance. However, if you’re buying tokens from the UK, the fee increases to 1.8%. In some other cases, you might incur a fee of up to 4% — based on your region. Therefore, you’ll need to consider your location when assessing this exchange’s fee structure.

Notably, you cannot buy the Metal token directly on Binance. Meaning, you first have to buy another supported cryptocurrency token and then swap the coin for Metal. For this purpose, Binance supports four different markets for Metal including MTL/BUSD, MTL/USDT, MTL/ETH, and MTL/BTC. Essentially, you can choose to utilize any of these markets to buy Metal based on your preferences and assessment.

buy metal

Another notable perk with Binance is that the exchange charges just 0.10% in commission. This means that if you trade $500 worth of MTL, you’ll only incur a fee of $0.50. We consider this fee super low because Coinbase charges a standard trading commission of 1.49%. Meaning, a similar trade to that above would cost you $7.45 in commissions. Additionally, after purchasing your MTL tokens, Binance allows you to store the tokens on the platform itself, making it seamless to buy and sell the coin.

Pros

  • Facilitates billions of dollars in daily trading volume
  • Supports hundreds of digital asset pairs
  • Near-instant deposits via debit/credit card
  • Trading commission starts at just 0.1% per slide
  • Offers crypto savings accounts
  • Ideal for both beginners and experienced traders alike

Cons

  • Not all supported cryptocurrencies can be purchased with a debit/credit card
  • No e-wallet deposits or withdrawals

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How to Buy Metal – Detailed & Explained in Full

As a beginner, you’ll require a more comprehensive explanation of how to buy Metal. Therefore, although we provided a brief walkthrough earlier, this section will offer a more extensive discussion on those steps.

Step 1: Open a Binance Account

The first step when learning how to buy Metal is to create an account. You can get started with this process by visiting the exchange’s website and clicking on ‘Register.’

buy metal

During the registration process, you’ll have to provide your name and some other details. After filling all the relevant boxes, it will take just a few seconds for the exchange to create your account.

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Step 2: Upload valid ID

Following Binance’s commitment to anti-money laundering laws, all users are now mandated to verify their identities when depositing funds with fiat money. Therefore, you’ll have to provide a valid identification document before you can utilize the platform for buying Metal.

To meet this demand, you can use your passport or driver’s license. After submitting the document, the exchange will verify your identity within a few seconds.

On the other hand, if you are only depositing funds with crypto – as you fall within the platform’s limits for your location – no KYC process is required.

Step 3: Add Funds

You cannot buy Metal if you haven’t funded your Binance account. Notably, however, funding your account in this regard takes a different approach – as you cannot buy Metal directly.

Instead, you’ll first have to purchase BTC, USDT, or any of the supported markets for MTL. Here, you can use your debit/credit card to purchase the paired token. Once you do that, you’ll have some relevant tokens to hand which you can use to complete the crypto-to-crypto exchange for Metal.

Step 4: Search for Metal

On the Binance homepage, you’ll see the search box. Click on it and enter ‘MTL.’

buy metal

This will display the four MTL markets that are supported by Binance — MTL/BTC, MTL/USDT, MTL/ETH, and MTL/BUSD. Then, you can choose the market you desire based on the token you purchased in the previous step.

Step 5: Buy Metal

You’ll find the ‘buy’ and ‘sell’ options after choosing the MTL market you desire. To purchase your MTL tokens, you simply have to enter the number of coins you intend to buy and fill in other relevant details – such as whether you want to opt for a market or limit order.

buy metal

Then, the exchange will show you the equivalent number of BTC tokens (or any of the other three supported markets) that the trade will cost you. Once you complete the trade, you’ll receive your MTL tokens accordingly.

Buy Metal – Best Place to Buy Metal

Typically, there are two different ways to purchase tokens in the cryptocurrency market. These are online brokers and cryptocurrency exchanges.

However, before choosing any platform that falls under either of these categories, you must ensure that Metal is a supported token. Nonetheless, let’s examine the general features of these two options.

Online Cryptocurrency Broker

Brokers often store tokens in huge volumes. Therefore, buyers can purchase supported coins directly from the broker.

  • This makes it super convenient to buy any supported token since you don’t have to go through other traders.
  • Some of the credible brokers in the cryptocurrency market include eToro, Coinbase, and more.
  • Additionally, these brokers are often heavily regulated — as you might find multiple financial bodies licensing a platform.
  • However, the Metal coin is not supported by the above-listed brokers.

Therefore, the only option you have is to buy the Metal token via an online exchange.

Cryptocurrency Exchange

The first notable thing that differentiates exchanges from brokers is that the former are mostly unregulated.

  • Therefore, some users might be doubtful about choosing these exchanges for their Metal purchases.
  • However, some cryptocurrency exchanges have established a great presence in the market. Binance, for instance, records billions of dollars in daily trades and now facilitates over 100 million client accounts.
  • This is a great pointer to the trust the platform enjoys from its users.
  • Additionally, a platform such as Binance offers numerous markets – including Metal, and has a low trading commission of 0.1%.

To buy Metal coin, Binance is the best place for you to consider, not least because the platform offers you four different markets for the token alongside super-competitive fees.

Ways to Buy Metal

When you want to buy Metal, you have to understand that there are multiple ways to go about that. We shall consider each of these ways in this part of our guide.

Buy Metal With Another Cryptocurrency

You can buy Metal by exchanging another token for the coin. In fact, if you want to buy Metal on Binance, you’ll have to go through this method.

On Binance, you can choose to buy the token with Bitcoin, Ethereum, and more. This is suitable if you have some of these tokens in a private wallet — as all you have to do is to transfer them over to Binance and proceed to buy Metal.

Buy Metal With Debit Card

In the very near future, some platforms will allow you to buy Metal with a debit card. However, if you’re using this payment option, you must assess the fee structure of the platform you’ve chosen.

  • This way, you’ll understand the cost of buying Metal via that platform. For instance, a broker like Coinbase charges 3.99% on debit card transactions (although Metal isn’t supported by this platform just yet).
  • Notably, even when buying Metal on Binance, you’ll first have to buy the token you’ll swap for the coin. To buy this token, you’ll need to use your debit/credit card unless you’re transferring the coins from a private wallet.

Essentially, if you want to trade the MTL/BTC market, you’ll first have to buy Bitcoin with your debit card.

Buy Metal With Credit Card

You can also elect to use your credit card in a similar manner to the debit card payment option. Here, you’ll need to consider whether your card provider charges any additional fees when accessing brokerage services.

Buy Metal With Paypal

Suppose you’re using a broker that supports e-wallets, Paypal will likely be one of the options you can utilize. Depending on the platform you choose, you might face varying minimum deposit requirements that you have to fulfill before buying Metal.

Reasons to Buy Metal

Investors might be interested in buying Metal for different reasons. This essentially means that there are numerous factors that can draw your attention to the token. As such, before deciding on whether to buy Metal or otherwise, you’ll need to research the project adequately.

When you do this, you’ll learn more about the token and find it easier to decide whether it’s right for your cryptocurrency portfolio.

Low Fees

When selling MTL via Metal Pay, users pay very low fees according to the team behind the project. The network was designed to address the issue of high transaction fees characterizing the cryptocurrency world. Additionally, users holding 10,000 MTL tokens or more will pay no fee when buying cryptocurrencies through Metal Pay.

buy metal

This is a notable perk that can impact the value of the Metal coin in the digital tokens market. After all, networks that prioritize efficiency and low-cost services tend to garner impressive traction in the market. Therefore, this is a factor to consider when assessing the Metal token.

Fast Transactions

Another key challenge that the Metal network was designed to address is that of slow transactions. The protocol was created to ensure transactions can be executed in a swift and easy manner.

This is a great feature with the potential of attracting developers and users to the platform, which can impact the Metal token’s growth. Furthermore, this use case has contributed to the network’s efficiency, making it become one of the few on-ramps that are insured by the FDIC in the US.

Community Support

The Metal network provides users with an avenue to receive loyalty benefits for holding the token on its protocol. This reward system is useful for attracting more users to the platform.

Consequently, the Metal protocol has an active community of users behind the project. Therefore, if you always consider a project’s community before buying the token, you might want to read more about the Metal coin in this regard.

Relatively Established Project

There are thousands of tokens in the cryptocurrency market. For instance,CoinMarketCap lists over 12,000 tokens. Out of these listed coins, most were launched within the past 12-18 months.

buy metal

On the other hand, the Metal coin has been in the cryptocurrency scene since 2016. This makes the project relatively established in comparison to the rest of the industry. This is a notable feature because you have sufficient market data to assess in determining the viability and potential of the coin before adding it to your portfolio.

The Cost of Buying Metal

Fees are an important consideration to make when learning how to buy Metal. After all, the more you pay to invest in the token, the lower your overall potential returns will be.

Therefore, we consider the potential costs you should be aware of when buying Metal.

Deposit Fees

As earlier established, when buying Metal on Binance, you must first purchase a token such as Bitcoin. To do this, you might have to use your debit/credit card if you don’t already have Bitcoin to hand. For this transaction, Binance will charge you 0.5% if you’re a US client. However, if you’re from a different region, you can incur a fee of up to 4% for this service.

Instant Buy

You can also elect to use your Visa or Mastercard for an instant buy on Binance. When using this option, you can purchase the cryptocurrency you’ll exchange for Metal instantly. However, you should note that this feature attracts up to 4% in fees – based on your region.

Commissions

Worthy of note is the commission charged by the platform you choose to buy Metal. On Binance, the trading commission per slide is just 0.1%. This is low when compared against platforms like Coinbase – which charges a standard trading commission of 1.49%.

How to Sell Metal

Selling your MTL tokens on Binance is easy.

  • Once you’re ready to cash out your investment, you simply have to visit your Binance account.
  • There, you’ll see the ‘buy’ and ‘sell’ buttons.
  • Additionally, the exchange will display a tab that contains the box for you to enter the number of MTL tokens you want to sell.
  • After entering the number of tokens, the exchange will show you the equivalent amount in BTC, USDT, or the market you selected.
  • Once you confirm the details, you can proceed to finalize the process and your MTL tokens will be exchanged for the respective coin.

So, suppose you chose MTL/USDT, you can then proceed to sell your USDT for fiat currency after completing the initial crypto-to-crypto exchange.

How to Buy Metal – Conclusion

The process of buying Metal is seamless once you understand the steps involved. It’s important to note that this token is not listed on many platforms just yet. Therefore, you must choose the most credible option to buy the coin.

In this regard, we find Binance to be the best place to buy Metal through a crypto-to-crypto exchange. You can equally store your tokens on the platform after completing the purchase. This makes the entire investment process easy for you as a beginner.

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1
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Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Kane Pepi PRO INVESTOR

Kane Pepi writes for several high profile publications such as InsideBitcoins, the Motely Fool, and Learnbonds. Based in Malta, Kane is extremely skilled at complex subjects related to financial matters - including a Bachelor’s Degree in Finance, a Master’s Degree in Financial Crime, and actively engaged in Doctorate Degree research, for the money laundering threats of the blockchain economy.