Discover how to buy Degen (DEGEN) on an exchange you can trust
Getting started with crypto can feel overwhelming, but learning where and how to buy crypto is simpler than you might think.
Degen (DEGEN) is currently at
$0.0010960
-$0.00005 (-4.65%)
Last updated on --.
How can I buy Degen on OKX?
Whether you're new to crypto or an experienced trader, you can buy Degen using the OKX Wallet or Exchange.
Step one
Get OKX
Download the app and sign up in a matter of minutes.
Step two
Fund your account
Deposit funds via bank transfer, credit card, or Apple Pay.
Step three
Choose Degen
Select Degen and buy using your chosen method.
Step four
Receive your Degen
Confirm your purchase and store your Degen in your portfolio.
What's Degen?
Degen is a type of digital money that lives on the internet. Imagine it like a special kind of game token you can use online. It was created to help people trade and use services without needing a bank. Degen solves the problem of slow and expensive transactions by making them fast and easy. It's like having a magic coin that works anywhere in the digital world, helping people connect and do things together more easily.
How can I buy Degen?
1) Create an account on OKX by visiting the website and clicking 'Sign Up'. Provide your email and create a password. 2) Verify your identity with a government-issued ID to comply with U.S. regulations. 3) Fund your account using a bank transfer or credit/debit card. 4) Once your account is funded, go to the 'Buy Crypto' section. 5) Select Degen, enter the amount you wish to purchase, and confirm the transaction. Your Degen will appear in your OKX wallet.
Why do people buy Degen?
People buy Degen because it can be used in various online communities and platforms. It allows for quick and easy transactions without needing a bank. Degen is part of a growing digital ecosystem where users can access services, games, and more. It also supports decentralized applications, which are like apps that run on the internet without a central authority. However, it's important to understand that using Degen requires learning about digital wallets and security.
Things to know before buying Degen in the United States
In the United States, cryptocurrencies like Degen are legal but regulated. You must complete KYC (Know Your Customer) and AML (Anti-Money Laundering) checks when buying. This means providing identification and personal information. Tax-wise, any profit from selling Degen is subject to capital gains tax. If you earn Degen through staking or other means, it may be considered income and taxed accordingly. Always consult a tax professional for detailed advice.
What are other ways to own Degen?
You can obtain Degen without buying it by participating in airdrops, where free tokens are distributed to users. Some platforms offer Learn-and-Earn programs, rewarding you with Degen for completing educational tasks. Staking Degen or participating in network activities can earn you rewards. Providing liquidity to certain platforms might also grant you Degen. These methods require effort and understanding of the risks involved, such as market volatility and technical requirements.
How can I store my Degen?
To keep your Degen safe, you can use a custodial wallet on OKX, where the platform manages security for you. For more control, use a non-custodial wallet, where you hold the keys. Hot wallets are online and convenient but less secure. Cold wallets, like hardware devices, are offline and safer. Always back up your wallet and keep recovery phrases secure. Regularly check for updates and use two-factor authentication to enhance security.
Why should I buy Degen on OKX?
Learn more about the security measures keeping your Degen safe and readily available.
Proof of Reserves
Our 1:1 reserve ensures your funds will always be available to you.
High liquidity
Our high trading volumes mean deeper liquidity and smoother execution for you.
Transparency
We ensure historical market data is available to you at all times.
Security
We adhere to the strictest global security and compliance standards.
Learn more about how to buy Degen (DEGEN)
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How to get Degen for free
Invite friends, earn rewards
See how you can get free Degen when you invite friends to trade with you.
Earn APY on your crypto
Earn interest down to every dollar and watch your Degen grow, for free. Put your crypto to work, 24/7.
See what you can do with your crypto
Now that you’ve mastered the art of buying crypto, check out its potential.
Trade Degen
Take advantage of price fluctuations and trade your Degen for other cryptocurrencies.
Send Degen
Send your Degen anywhere, anytime with fast, low-cost transfers.
Spend Degen
Use your Degen to pay for goods, services, and experiences seamlessly.
Hold Degen
If you think your Degen will increase in value, you can hold onto it.
Sell Degen
Convert your Degen to cash quickly and securely.
How to buy Degen (DEGEN) FAQ
Depending on where you’re located, you can use bank transfer, credit/debit card, or Peer-to-Peer. Read our guide on how to use these different payment methods to buy Degen DEGEN safely on a trusted exchange like OKX.
Choose the best exchange to buy Degen (DEGEN) depending on your individual needs. Factors to consider when picking the best place to buy Degen (DEGEN) include: security measures, platform transparency, fees, and efficient transaction processes. First-time beginners can consider trusted exchanges such as OKX.
Countries and regions differ on how digital assets transactions and holdings are taxed and how they view digital assets in general (money, property, commodity). In general, it is expected that you will pay capital gains tax when selling or swapping Degen. Refer here for a more detailed guide.
There are exchanges that offer users privacy and do not require verification to complete transactions. However, it is important to exercise caution as such exchanges might be more prone to fraud.
Use a trusted, centralized exchange such as OKX, which offers the ability to buy and sell Degen (DEGEN), as well as fiat withdrawal options.
This depends on the method you use to convert Degen (DEGEN) to cash. Withdrawals to a bank can take one to three working days to process, while withdrawals to a debit card can be almost instantaneous.
Disclaimer
This is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances. Not all products are offered in all regions. For more details, please refer to the OKX Terms of Use and Risk Warning. OKX Web3 Wallet and its ancillary services are subject to separate Terms of Service.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.