Step by step guide to purchasing my favourite token
Introduction
As mentioned before, CargoX is my favourite blockchain project and CXO is my favourite token.
Since it is only available as CXO/BTC or CXO/ETH pair on KuCoin, the subreddit for CargoX is full of questions on how best to purchase CXO and I will try to give my take on the best solution in this article to help prospective CXO buyers.
After researching CargoX and reading the bluepaper, I wanted to get in as soon as possible. I was very unhappy that I could not get CXO on Binance and even after finding out that I could buy CXO on KuCoin, it was not immediately clear to a crypto beginner like me how to do so.
After finding out that there were only CXO/BTC and CXO/ETH trading pairs on KuCoin (I was trying to use USDT at first), I managed to make my first purchase of CXO by transferring USDT from Binance to KuCoin, then trade USDT for ETH and then ETH for CXO. This is a lot more complex than, for example, buying stocks via a broker and I fully understand why many people don´t immediately find a good way of facilitating this transaction.
My Approach
Since my first purchase of CXO on KuCoin, I have slightly refined my approach for speed and reduced fees.
I suppose the easiest way would be to transfer fiat to your KuCoin account, exchange fiat for ETH or BTC and then trade them for CXO but I am happy enough with Binance (I know quite a…
