How to Buy Elongate 2022? Our guide to the safe & cheap Elongate purchase!

Christina Clarke
October 13, 2021
What exactly is elongate? How it works: How to buy Elongate? What is the price of cryptocurrency like? And what about the forecasts?
How to Buy Elongate 2021

Elongate is a new favourite in the cryptocurrency world. Transactions are considerably cheaper than transaction fees with Ethereum, making the platform much more accessible for retail investors. With this low barrier to entry, many new cryptocurrencies have hit the market. These coins have a rapid increase in value, even without real products or competitive advantages over other cryptos already on the market. Elongate, named after Tesla CEO Elon Musk, is a novel cryptocurrency that has a charitable purpose.

Bennant became the cryptocurrency after a tweet from Elon Musk and is now benefiting from memes and the rapidly growing internet community, similar to Dogecoin or Safemoon.

As an investor, you naturally ask yourself the following questions:  What exactly is elongate? How it works: Where can you get Elongate? What is the price of cryptocurrency like? And what about the forecasts? We took a closer look at the DeFi project.

Table of Contents

Buy Elongate: What should you look out for to buy Elongate cheaply and safely?

ElonGate began trading pancakes wap for around $ 0.000000084 in early April 2021. The token peaked on April 21 for $ 0.000001000 per token, representing a return of approximately 1200% since the token began trading. Since then, the token has fallen back to around $ 0.00000080, which is roughly ten times the original ElonGate retail price. You should pay attention to the following points when buying Elongate so that nothing goes wrong:

  • Where is the best place to buy Elongate? Unfortunately, there is currently no broker offering Elongate. However, due to its rapidly increasing popularity, the coin will soon be available on ETFinance.
  • Do I want to hold Elongate for the long term, or do I want to trade actively? That depends on your trading strategy.
  • How does an Elongate wallet work? ETFinance offers a simple integrated wallet.
  • Is it worth investing in Elongate? Although Elongate has only been on the market since March 2021, it is already enjoying great popularity. So an investment could well be worthwhile.

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How to buy Elongate in South Africa? Buy Elongate Beginners Guide with ETFinance:

We now explain how to buy Elongate. Again, we use the broker ETFinance for this. It offers the advantage that you can trade both real cryptocurrencies and CFDs – ETFinance combines the benefits of a broker and a crypto exchange.

Note:  The token from Elongate is currently not available from any crypto broker, as it is Elongate’s native token, which is now only used in its own network. However, since the price has risen highly in the last few weeks and the demand is correspondingly high, we are sure that ETFinance Elongate will soon be added to the range. Once that’s done, you can buy Elongate on ETFinance using our guide.

How to Buy Elongate

First step: Registration with a broker or a crypto exchange

First, you have to register with ETFinance. To do this, click on the following link to get to the registration form:

Then enter your username, email and password in the form and accept the terms and conditions:

You will then receive an email for verification, in which you simply click on the link to confirm the email address.

Second step: top up your account

In the next step, you have to top up your account with money to buy Elongate in the future. To do this, click on the “Deposit money ” button on ETFinance :

Then you choose the amount and payment method with which you want to deposit, and then click on the “Send” button to deposit the amount.

Buy Elongate with a credit card, PayPal, Sofortüberweisung and more

In our example, we show the purchase with a credit card. ETFinance also offers other deposit options :

Payment optionPossible?
Buy Elongate with a credit card✔️
Buy Elongate with PayPal✔️
Buy Elongate with Skrill✔️
Buy Elongate with bank transfer✔️
Buy Elongate with Neteller✔️
Buy Elongate with UnionPay✔️

Third step: buy Elongate online with euros

As soon as you have topped up your account on ETFinance, you can already buy Elongate. To do this, we click into the search field above and enter “Elongate” there. Then we click on the ” Trade ” button.

The purchase window then opens. Here you have the following options:

  1. Buy or sell: If you want to buy Elongate, click on “Buy”.
  2. Trade or orders: Here, you can choose to execute the trade immediately (trade) or with a delay (order).
  3. Amount: How much Elongate do you want to buy?
  4. Stop Loss and Take Profit: At what loss or profit the position should be automatically sold.
  5. Leverage: With what leverage do you want to buy Elongate? With leverage X1, do you purchase real coins? With  X2, you buy leveraged Elongate CFDs?

After configuring all options, you click on the ” Open Trade ” button to complete the purchase.

The purchase of Elongate is now complete!

What is Elongate?

Elongate is a BEP-20 token for Binance Smart Chain. This is similar to an ERC-20 token on Ethereum, but instead of using Ethereum’s network, Elongate uses the Binance Smart Chain. Ethereum’s network is plagued by high gas fees, making it difficult for investors with low capital to use its network.

Because Binance Smart Chain uses a unique proof-of-stake model to secure its blockchain, the network can process transactions at a fraction of the cost that Ethereum would incur. However, this efficiency comes at a price. The Binance Smart Chain is much more central than Ethereum, as Binance controls many of the validators on the network.

Elongate has token economics similar to other altcoins, such as Safemoon. Both Safemoon and Elongate have a high maximum stock: Safemoon has 640 trillion tokens. In contrast, Elongate has a maximum stock of around 600 trillion in circulation, the 400 trillion tokens that have already been burned.

This high supply has a direct effect on the price of Elongate so that the price remains well below a cent with a market capitalization of several million dollars. The offer is technically deflationary as tokens are burned when investors sell their position. A portion of the funds raised as a fee will be put into a charity pool. The proceeds from these tokens will be donated to a charity of the community’s choice.

What are Elongate CFDs?

With cryptocurrencies, as with other financial instruments, you have the option of either buying real coins or in the form of CFDs. Of course, you will not buy the cryptocurrency yourself, but you can rely on the price trend.

After all, CFDs are independent financial products that use certain underlying values ​​only as a price measure. Theoretically, you acquire a right to buy or sell the asset with these contracts for difference. As a result, the resulting gap between purchase and sales prices is wiped out as profit or loss. Thus, an Elongate CFD is an all-or-nothing business.

Buy Elongate as CFD or real cryptocurrency?

Elongate CFD trading

  • Fee advantage when trading
  • Regulated by the state and subject to deposit insurance: You are protected against hacks and attacks.
  • No complicated depot setup required
  • Trading with leverage
  • No “real” Elongate coins
  • Fee disadvantage for long-term investors
  • Risky investment: Large losses possible in the case of leveraged (leverage) trading

“Real” Elongate trade

  • Owning real Elongate coins that you can manage yourself
  • With an additional wallet, you can buy, sell or exchange cryptocurrencies
  • Steep learning curve
  • Vulnerable to hacks and cyber attacks
  • You are responsible for managing coins yourself
  • You often need an additional wallet for storage

With a crypto CFD broker, you can trade cryptocurrencies without actually owning them. This is advantageous because you don’t have to worry about storing it with a  crypto wallet.

At this point, we have to repeat the recommendation for our test winner broker, ETFinance: With ETFinance, it is possible to trade Crypto CFDs with leverage and buy real cryptocurrencies and store them in the integrated  ETFinance wallet. In addition, with ETFinance, you have an integrated wallet with you – so if you want to buy real coins, you don’t have to worry about it.

Buy or Sell Elongate? Our advantages and disadvantages analysis:

How to Buy Elongate

  • New cryptocurrency
  • Offshoot of Dogecoin
  • Altcoin like Safemoon
  • Huge interest
  • Income is donated to charities
  • High growth potential due to DeFi projects
  • The project not yet largely presented
  • Still, instead an unknown project

What are the fees for buying Elongate?

Currently, Elongate is not yet available on ETFinance. Due to the high popularity, we assume that the coins will be available soon. The fee table should, therefore, show how much costs will be incurred when buying the Elongate as soon it’s added to the range at ETFinance:

  • We buy Elongate worth € 1,000
  • We hold our coins for 30 days and then sell them again
  • For the sake of simplicity, we assume that the course does not change in the 30 days

With these assumptions, we now go through the fees of the largest providers:

providersETFinancecoinbasePlus500
Depositfree3.99%for free
Purchase feesfree1.49%3.08% *
Holding feesfreefor free0.05% *
Sales chargesSpreads1.49%3.08% *
Total feesReasonable€ 68.24€ 92.32

Elongate course: important moments in the course of Elongate (Elongate)

  1. April 2021:  Elongate is created as a “joke currency” based on a tweet from Tesla boss Elon Musk. Thereupon the currency became public and also tradable on Pancaeswap.
  2. April 21, 2021:  Elongate hits an all-time high of  $ 0.000001.
  3. 04/29/2021:  Investors and traders are not entirely sure about this new currency, similar to Dogecoin and Safemoon. The value stabilizes at around $ 0.00000036.

Buy Elongate with or without a wallet?

In general, a wallet is always the safest place to store cryptocurrencies. However, if the coins and tokens are instead on an exchange, you may lose access to them – for example, in the event of a hack attack or if a broker becomes insolvent.

Using a wallet is not necessarily more complicated than using the common stock exchange platforms. A wallet is therefore recommended in any case.

However, the use of a wallet is not mandatory for trading with Elongate. Since Elongate is currently in particularly high demand and is becoming increasingly popular, the coins will likely also be available via ETFinance soon. You have the advantage that you don’t need your wallet, as this is already integrated into ETFinance. You can also download the ETFinance Wallet, which allows you to send and receive cryptocurrencies and exchange them for FIAT money.

However, if you are interested in a wallet, you can get more information about wallets in our crypto wallet comparison. However, if you want to invest in Elongate CFDs instead of buying the coins, you don’t need a wallet. All you have to do is register with ETFinance and invest in the relevant CFDs there.

Buy Elongate PayPal: Where can I buy Elongate with PayPal?

Paypal, unfortunately, plays only a minor role related to the company’s warranty conditions. As a result, many brokers do not use PayPal, although it is one of the most convenient payment methods. With PayPal, for example, fees only apply if you top up your PayPal account using your credit card instead of SEPA or an instant transfer. Then a flat rate of € 0.35 transfer costs and 1.9% fees on the amount sent is suggested.

PayPal offers one of the easiest payment methods on the internet and not only that:  also one of the cheapest. PayPal, on the other hand, is available as a means of payment at ETFinance. As soon as Elongate has been added to the ETFinance range, you can conveniently pay into your customer account with PayPal to then either buy Elongate Coins or invest in Elongate CFDs.

Does it make sense to invest in Elongate? Which cryptocurrency is the best investment?

It is currently not possible to purchase Elongate’s tokens via crypto exchanges other than Huobi itself. However, due to the increasing popularity of DeFi projects, we assume that most brokers will soon be offering the Elongate Coins. However, if you want to deal with other cryptocurrencies, quite a few to choose from. Here are some of our alternatives:

Alternative 1: Opportunities in the field of cryptocurrencies

If you want to invest in cryptocurrencies, you are, of course, spoiled for choice. The most popular alternatives to Elongate are:

  • Buy Bitcoin: The top dog among cryptocurrencies is seen by many as the “digital gold” and one of the most stable cryptos.
  • Buy Ripple: Ripple has emerged as one of the most popular cryptocurrencies in the past few months.
  • Buy Ethereum: Ethereum is the solution for smart contracts and is still the second most popular cryptocurrency.

Alternative 2: crypto stocks

Another alternative is crypto stocks: chip manufacturers, mining companies, and even the Bitcoin Group have posted substantial profits so far. So if you don’t just want to trade in cryptocurrencies, you can also benefit from stocks. And if you want to diversify your portfolio and trade in cryptocurrencies and stocks, you can do this easily via  ETFinance.

  • Bitcoin stocks: If you think that Bitcoin will outperform Elongate, Bitcoin stocks are a good alternative
  • NVIDIA stocks: NVIDIA manufactures necessary graphics chips, especially for mining – if the crypto boom continues, NVIDIA is undoubtedly a good investment

Elongate Trading – Should You Hold Elongate Long-Term or Trade Short-Term?

Whether you want to hold Elongate long-term or trade, short-term depends on your trading strategies and risk management. Many analysts advise short-term investments in Elongate, as the cryptocurrency is up-and-coming and the corporations also positively influence the price development. Elongate has recorded a solid plus of 725.01% since its market launch  – but we recommend short-term trading as the currency is still hardly known.

Of course, you can also trade Elongate for the long term – but this is only worthwhile if the major crypto exchanges have included the tokens in their range. So at the moment, we have to wait and see.

Buy Elongate at Bitcoin.de, Coinbase, Binance, Bison & Comdirect – Why we recommend ETFinance as an alternative:

How to Buy Elongate

Elongate is currently not offered on any exchange, except for the Elongate platform itself. However, due to the increasing demand for cryptocurrencies, it is quite conceivable that the Elongate will be offered on other crypto exchanges.

However, if you want to trade with the coins or speculate on their price development, we strongly recommend a  safe and intuitive crypto exchange. And here you should pay particular attention to the conditions.

In our significant crypto exchange comparison, we could already determine a clear test winner: ETFinance. ETFinance offers a modern platform for beginners and advanced users, an in-house app and an integrated wallet. So if you don’t want to buy an additional wallet or set up yourself, you are best off with ETFinance.

Can you buy Elongate offline?

Elongate are the tokens of the blockchain platform Elongate and are also issued there. However, since Elongate is a digital currency, it can not be bought offline.

To buy Elongate, you need a good crypto exchange and, if you want to be on the safe side, a wallet. First, however, the currency must be purchased with an existing internet connection.

However, if you want to keep the currency offline, you can buy a  hardware wallet.

Can you buy Elongate anonymously?

In the early days of cryptocurrencies, it was still possible to purchase coins anonymously. But only with detours. In the meantime, it is no longer that easy to allow real anonymity to prevail when buying cryptocurrencies. If you take a closer look, you have to say goodbye to anonymous buying.

There are only severe platforms that allow the purchase of cryptos that ask for user data. So you are already in grey areas if you get to a trading platform that doesn’t do this. But then you can quickly get caught up in a fraudster and get rid of your cash but have not received any coins. So in this respect, one should pay attention to priorities.

We rather recommend the safe and reputable Elongate purchase from the online broker ETFinance, instead of 100% anonymity.  The lack of anonymity ensures security for everyone involved.

Can you buy Elongate without verification?

If you want to trade with cryptocurrencies, you can not avoid verification at a  crypto exchange. This is for your protection and also for the protection of the exchange and those involved. After all, you want to trade with real people who have been verified. When you register on  ETFinance, verification is quick and easy.

Can you buy Elongate without registering?

If you want to buy Elongate, the easiest way to do this is with a crypto broker. In any case, however, registration is necessary. This offers protection and security at the same time for investors and the stock market. With our test winner ETFinance, Elongate is not yet tradable, but we assume that it will soon be added to the range. So you can either buy real coins or bet on their price development (using CFD trading).

How to Resell Elongate: Our Guide to ETFinance

As soon as Elongate can be found on ETFinance’s offer, you can simply buy and sell the cryptocurrency there. The steps here are similar to those for buying cryptocurrency.

1st step: Log in

The first step is to log into the ETFinance customer account as usual. You can do this either via the computer or via the smartphone or tablet. You can also log in via the app to sell Elongate. So you have different options.

Step 2: Select Elongate

The next step is to click on your portfolio. There you can find all the assets that you have invested in on  ETFinance.

As soon as you have clicked on the portfolio, you get a list of all financial instruments. There you look for Elongate (Elongate) and then click on Sell on the right-hand side.

3. Sell Elongate

As soon as you have clicked on  Sell, a window appears again when buying the cryptocurrency. Here you can still decide between order and trade. Then you are the amount, and then click Open Trade or order placing. In addition, you can make other settings, such as the amount at which the position is automatically closed.

Buy Elongate (Elongate) Conclusion – Our recommendation:

Elongate is the token of the Elongate platform. Accordingly, the tokens are only distributed to the users of its platform. However, since the interest in DeFi projects is increasing, it could well be that the token will soon also be offered on other crypto exchanges. After all, the Elongate is a very new cryptocurrency that could be of interest to investors. Of course, the disadvantage is that the token’s value depends heavily on the platform itself – which, however, would also leave a lot of space for speculators.

Since the introduction of the Elongate, the value has increased by 725.01% – the interest is correspondingly high. Above all, Elongate was now on everyone’s lips due to the interaction with  Dogecoin. Safemoon also only developed in March – all of this indicates that Elongate is also based on memes and, above all, the internet community.

As soon as Elongate is available at ETFinance, an investment could be worthwhile. ETFinance is our test winner of the crypto exchanges and can score points above all with low fees, an in-house app,  and the social trading function.

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FAQs

The real Elongate purchase works either via the platform itself or soon via crypto exchanges such as ETFinance. Only here can you get real coins. If you only want to devote yourself to trading and have little interest in actual tokens, CFD crypto brokers such as our test winner are also suitable.

Brokers allow you to trade the values ​​through CFDs or options. On an exchange, you exchange currencies with other market participants. To decide on a provider, we have put together critical assistance by comparing the best crypto exchanges.

The Elongate course has been increasing rapidly lately. Due to the high popularity of DeFi projects, the upward trend is currently unstoppable. Therefore, further increases in value cannot be ruled out.

This should be considered in advance when choosing a digital wallet. Not all wallets support multiple cryptocurrencies. Specific platforms already offer an online wallet in their offer. But there are also very secure hardware wallets that support both Bitcoin and Elongate (Elongate).

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