About this guide: So, you have done your research on Power Ledger and think it’s a great ethical investment opportunity. You will probably have two basic questions: How to buy Power Ledger and where to buy it? This article will give you a straightforward answer to both these questions and also let you know the safest way to store your POWR. You should know that if you want to invest in Power Ledger you will be buying the POWR token.
- 1 Are You Too Late To Buy Power Ledger?
- 2 How High Could POWR Grow?
- 3 How To Buy Power Ledger (POWR) – Our 2 Top Ways Explained
- 4 Buying POWR With Fiat
- 5 Buying With Crypto
- 6 Creating A Coinbase Account
- 7 My Coinbase Account Is Good To Go. What Next?
- 8 Setting Up A POWR Wallet
- 9 How To Store Your POWR In The Safest Way?
- 10 Create a Binance Account
- 11 Transferring Your Bitcoin Or Ethereum From Coinbase To Binance
- 12 How To Trade Bitcoin or Ethereum for Power Ledger On Binance
- 13 How To get Your POWR Tokens Off The Binance Exchange
- 14 Conclusion
Are You Too Late To Buy Power Ledger?
The Power Ledger ICO took place in September 2017 and the token only hit cryptocurrency exchanges on 1st November 2017. Since then, the token has hit all time highs of $2 on the 4th January 2018 and at the time of writing is trading at just 31 cents. At Total Crypto, we always like to buy tokens when they have a significant all time high discount. Put it this way; if we bought POWR today and the token reached its all time high again, we would be sitting on a 545% return.
The project has a massive vision by wanting to disrupt clean energy distribution and create green energy market places. Adoption of eco friendly tech will take time and the market is still expanding. It really will take time for Power Ledger to reach its full potential and maximise its global footprint.
We at Total Crypto think that the time horizon of the project is long. This is just the beginning for Power Ledger and we do feel that any investor getting in right now is doing so at the early adopter phase. So in short, you are not too late to buy Power Ledger and the most important thing is the price you buy POWR tokens at.
How High Could POWR Grow?
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First off, no one can predict the future and anyone that is telling you that POWR can hit X$’s a token, is likely pulling numbers out of thin air. At Total Crypto, the way we like to look at things is:
How big is the market that the cryptocurrency wants to disrupt? Power Ledger is competing in the energy sector.
- The International Energy Agency reported in 2017, that total global energy investment for 2016 stood at $1.7 trillion, which is equivalent to 2.2% of global GDP.
- The International Energy Agency projects that $44 trillion in energy investment is required by 2040 to fulfil the world’s growing energy needs.
- Right now, renewable energy only accounts for 8% of total global energy generated. However, it makes up 40% of the growth in global energy generation. There is certainly a trend towards using renewable energy over fossil fuels and we expect this trend to continue in the future.
- Power Ledger’s place in the renewable energy sector is sitting between renewable energy producers and buyers.They can essentially become the eBay of the global renewable energy sector. Research has concluded that the global renewable energy market will be worth $777.6 Bn by 2019. This provides Power Ledger with a massive market to compete for and that’s without future projected growth.
We think that Power Ledger’s underlying technology has value and this is why it has the backing of the Australian government and other giant partners. If Power Ledger can just take a tiny fraction of the global energy market, we think investors will be well rewarded.
How To Buy Power Ledger (POWR) – Our 2 Top Ways Explained
We will show you two different ways of buying POWR. It’s totally up to you to decide which one is right for you.
- How to buy POWR with fiat currency (for example; USD, EUR and GBP). To do this you will need accounts at Coinbase and a cryptocurrency exchange. We know that setting up multiple accounts is annoying, but sadly there is not an easier option.
- Our second way is for those that already own some Bitcoin or Ethereum and want to trade this for POWR. We will show you the best exchange to use.
Buying POWR With Fiat
This method is ideal for those making their first investment in cryptocurrency. In addition to your Coinbase and cryptocurrency exchange account, you will also need a wallet to store your POWR tokens. Don’t worry, we will show you how to do this.
You should know that this process will take a bit of time to get things ready. We will take you through the easiest and most efficient steps to buy POWR.
Buying With Crypto
Congratulations, you are obviously a bit of a crypto veteran. Just skip ahead of all the Coinbase stuff. We know you are likely already set up there.
Creating A Coinbase Account
Coinbase Key Facts
- Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
- Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
- Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
- Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
- Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
- Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
- Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
- Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
- Customer Support Methods: Email and FAQ’s.
Looking to invest more than $100 in POWR by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!
My Coinbase Account Is Good To Go. What Next?
Good work on getting the first step out of the way. Unfortunately, you cannot buy POWR directly through Coinbase; you will need to use a cryptocurrency exchange to get your hands on some POWR. To do this, we will need to convert our money into either Bitcoin or Ethereum. We will then trade this for POWR on a cryptocurrency exchange later.
The fastest way to buy Bitcoin or Ethereum on Coinbase
- Head over to the ‘Buy/Sell’ page on your account.
- Add a payment method to your Coinbase account.
- Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, just sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
- Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.
- Enter the amount of crypto you want to buy.
- Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
- Complete your order by clicking buy.
Checkout our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We do recommend using GDAX and saving yourself some fees.
Once you have your ETH or BTC in your Coinbase account move onto the next step.
Setting Up A POWR Wallet
POWR is an ERC-20 token that is built on the Ethereum blockchain. This means POWR can be stored in any Ethereum wallet. We recommend using the most popular Ethereum wallet: MyEtherWallet. The good news is that it won’t cost you a penny.
We have put together some useful resources to get your MyEtherWallet setup:
You should have your MyEtherWallet setup now. We will just quickly show you how you can view your POWR tokens in the wallet. First go to the ‘View Wallet Info’ section of MyEtherWallet and login. You will see a ‘Show All Tokens’ button, you want to click that little guy.
Just scroll down the list of tokens until you see POWR and click ‘load’ to view your token balance.
How To Store Your POWR In The Safest Way?
We really rate MyEtherWallet as a way to store your POWR. However, we need to accept that there are many hackers targeting cryptocurrency right now and it’s likely this will only become worse as crypto prices rise. This means some of you may want to make sure your POWR is as safe as possible by getting the best security money can buy.
The best security solution on the market right now is a hardware wallet device. This stores your private keys on the device and protects them from malicious attacks such as keyloggers and phishing attempts. Your computer could have a load of viruses on it, but with a hardware wallet your crypto should be safe.
The good news is that because POWR is built on Ethereum, it is compatible with the two most popular hardware wallets on the market. We actually use both a Trezor and a Ledger ourselves and are happy to recommend both devices.
Need help working out which hardware wallet is best for you? Just check out our Ledger vs Trezor comparison article.
€94.80 (including European tax and free shipping)
Need help setting up your Ledger? Just have a look at our step by step guide.
€128.26 (including European tax and shipping)
Need help setting up your Trezor? Just have a look at our step by step guide.
If you need help integrating your Trezor or Ledger with Myetherwallet, just take a few minutes to find out how in our guide.
Create a Binance Account
So, you should have some Ethereum or Bitcoin on your Coinbase account and have your MyEtherWallet setup to store your POWR. Power Ledger does basically all it’s trade volume on Binance. Binance is the most popular exchange in the world and we cannot find a reason why you would want to buy your POWR elsewhere.
Binance Key Facts:
- Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
- Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. Ripple is one of them.
- User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
- Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷
Get POWR on the world’s largest crypto to crypto exchange.
Need help setting up a Binance account? Just checkout our Binance guide.
Transferring Your Bitcoin Or Ethereum From Coinbase To Binance
You should have set up your Binance account by now. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for Power Ledger.
- Login to your Binance account.
- Select “Funds” and click “Deposit”.
- Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
- You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
- Login to Coinbase and go to the ‘Accounts’ tab.
- Click the send button for whatever cryptocurrency you hold.
- Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
- Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly
Got Crypto In Another Wallet?
- Simply send your crypto to your Binance deposit address.
How To Trade Bitcoin or Ethereum for Power Ledger On Binance
At last, now is the time we will finally get our POWR tokens.
- Navigate to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search POWR in the search bar and click the POWR/ETH or POWR/BTC market.
- You will then see a trading screen. At first glance it may look tricky but don’t be put off, we will show you what to do. Just select the ‘Market’ tab (this enables you to buy at the market price). Then just enter the number of POWR tokens you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy Power Ledger.
- Once you have clicked ‘Buy’ your trade will be processed and your POWR tokens will appear in your Binance account.
How To get Your POWR Tokens Off The Binance Exchange
Alrighty, so we finally have our POWR tokens on Binance and have our MyEtherWallet good to go. We do recommend you take your POWR tokens off the exchange and store them in your MyEtherWallet. The reason is that Binance holds a lot of cryptocurrency and is quite the target for hackers. Also, having control of your own crypto is probably better than trusting a third party.
- Go into your MyEtherWallet and copy your public address.
- Login to Binance.
- Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
- Select Power Ledger from the dropdown, then paste in your Ethereum public wallet address and enter in the amount you want to withdraw.
💡 Top Tip: Binance will charge you a withdrawal fee to get your POWR off the exchange. Before you withdraw you can check the withdrawal fee here!
There you have it, the easiest way to buy and store Power Ledger. The Total Crypto Team is super excited about this project and the good it can potentially bring to the world. We are optimistic for the future of renewable energy and the position Power Ledger can take in that market.
For full disclosure, the Total Crypto Team do own a position in Power Ledger. We are treating this position as a long term hold and are eagerly anticipating further project developments.