How to Buy Tornado Cash (TORN)
Learn all about Buy Tornado Cash
Tornado Cash (TORN) is the ethereum-ecosystem related token that has been embraced by crypto enthusiasts and investors since its launch. It is currently ranked number 553 based on market capitalization on CoinMarketCap, with a market capitalization of 37429857 recorded at the time of writing. TORN has been gaining momentum alongside the flourishing cryptocurrency market this year. More and more people are becoming interested in Tornado Cash. They wish to invest or purchase Tornado Cash (TORN), but may not know how to get started. Here, we will guide you through all the information you need to know about purchasing Tornado Cash. Regardless of your location, Bitrue can provide you with a simple and secure way to buy TORN.
Where and how to buy Tornado Cash
Tornado Cash (TORN) is currently not available for fiat and spot trading on Bitrue exchange. However, you can purchase TORN on decentralized exchanges (DEX). Simply connect your crypto wallet to a DEX, choose the TORN trading pair, and complete the ordering process. Here is a step-by-step guide on purchasing TORN:
Steps to Buy Tornado Cash (TORN)
01Step 1 Create a Wallet
Choose from various cryptocurrency wallets, including digital wallets and hardware wallets. Typically, creating a cryptocurrency wallet is as simple as installing an application on your phone or computer. When you install the application, your cryptocurrency wallet is automatically created following the installation steps. Remember to note down your mnemonic phrase or private key during wallet creation, as the loss of this information will result in permanent loss of the digital assets stored in the wallet. Once your wallet is created, you can immediately transfer cryptocurrency to it, securely store it, and use it as you wish.
02Step 2 Wallet Setup
Configure your wallet with a blockchain network protocol compatible with Tornado Cash (TORN), ensuring that your cryptocurrency wallet can receive TORN.
03Step 3 Choose a DEX
Select a decentralized exchange (DEX) that supports Tornado Cash (TORN) trading. Popular DEX platforms include Uniswap, SushiSwap, PancakeSwap, etc., depending on the blockchain network hosting TORN.
04Step 4 Connect Wallet
Connect your cryptocurrency wallet to the chosen DEX. This connection allows you to trade directly from your wallet without the need for a central intermediary.
05Step 5 Choose TORN Trading Pair
Locate the TORN trading pair on the DEX platform (DEXs typically list tokens in pairs, such as TORN/ETH, TORN/USDT, etc.). Ensure your wallet has enough cryptocurrency to pay for the desired amount of TORN you want to purchase.
06Step 6 Confirm Order
Decide on the type of trade you want to execute. DEX platforms offer options similar to centralized exchanges, such as market orders and limit orders. Confirm and execute your trade.
07Step 7 Verify Transaction
Transactions on DEXs are recorded on the blockchain. Verify the completion of your trade on the blockchain explorer using your wallet address.
08Step 8 Store Securely
- After the transaction is completed, TORN will be automatically stored in your blockchain network wallet address. You may also consider transferring your TORN to a hardware wallet to enhance security, especially if you plan to hold it for the long term. This significantly reduces the risk associated with keeping digital assets in an online wallet.
- Decentralized exchanges offer greater privacy, transparency, and control over your assets. However, they may have lower liquidity compared to centralized exchanges, and transactions can sometimes be associated with higher fees depending on the blockchain network. Always conduct thorough research on the chosen DEX and understand its features before initiating transactions.
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Alternative methods to acquire Tornado Cash
Apart from directly buying Tornado Cash (TORN), what are the alternative methods to acquire Tornado Cash ?
Fixed Auto-Investment in TORN
Regularly invest a fixed amount at scheduled intervals in Tornado Cash (TORN) digital assets, enjoying both short-term returns and long-term benefits.
Staking TORN
Flexible staking of Tornado Cash (TORN) digital assets to earn interest or high returns in other cryptocurrencies.
Get Tornado Cash (TORN) for free
If you have enough time, you can obtain Tornado Cash for free through the following methods:
- Invite friends to join the Bitrue coupon event and earn free Tornado Cash (TORN).
- Join the Bitrue Rewards Center, participate in ongoing challenges and airdrops to receive free Tornado Cash.
- All cryptocurrency airdrops and rewards can be exchanged for TORN through coin-to-coin exchange or spot trading.
How to keep your Tornado Cash safe and secure
Once you have purchased Tornado Cash, it is crucial to store it in a secure location.
If you are highly familiar with operating on-chain Tornado Cash wallets, you also have the option to store Tornado Cash (TORN) separately in a personal encrypted wallet. This wallet serves to keep your Tornado Cash secure and accessible, allowing you to send and receive it while maintaining control.
To ensure the security of your Tornado Cash, consider the following types of encrypted wallets:
- Mobile Wallets: Store your private key in an application on your smartphone.
- Web Wallets: Third-party-controlled online servers that store your private key.
- Desktop Wallets: Computer programs that allow you to store your private key on a hard drive.
- Hardware Wallets: Physical devices for offline storage of private keys.
Note: Cryptocurrency wallets do not technically store your Tornado Cash encrypted assets. Instead, the assets remain on the blockchain, and access is granted using the digital private keys stored in the wallet.
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Some market stats about TORN
Price Analysis
TORNTornado Cash Price Now:
$7.12-1%24H
Tornado Cash is rising this week.
The price of Tornado Cash has increased by 0.88% in the last 7 days. It has seen a -1.39% decrease in the past 24 hours and a 0% increase in just the last hour. The current price is $7.12 per TORN. Tornado Cash is increased --% from its all-time high of $--.
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Calculate the Returns on Your Tornado Cash Investment
How much profit would I have if I bought $ worth of Tornado Cash in ?
CalculateReturns based on the average Tornado Cash price for that year. Not financial advice.
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How to buy other cryptocurrencies
There are lots of ways to buy, swap, and convert crypto. Learn more about how you can do it all using Bitrue with our how to buy crypto guide.
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FAQ About Buy Crypto
What is Tornado Cash?
Tornado Cash (TORN) is a cryptocurrency and operates on the Ethereum platform. Tornado Cash has a current supply of 10,000,000 with 1,099,794.70871702 in circulation. The last known price of Tornado Cash is 35.08765359 USD and is down -9.81 over the last 24 hours. It is currently trading on 25 active market(s) with $9,336,374.89 traded over the last 24 hours. More information can be found at https://app.tornado.cash/.
Why are people buying Tornado Cash?
People buy Tornado Cash for various reasons. Some view it as an investment, expecting its value to increase, while others appreciate its decentralization and anonymity, seeking to avoid restrictions of traditional financial systems. Additionally, Tornado Cash serves as a digital asset with transactions independent of central authorities. Overall, motivations for purchasing Tornado Cash include investment, risk diversification, and trust in new digital assets.
Should I buy Tornado Cash?
Deciding whether to buy Tornado Cash depends on individual financial goals, risk tolerance, and understanding of the digital asset market. Tornado Cash investments involve market volatility and risks, so it's advisable to thoroughly understand its characteristics and market conditions before purchasing. If you have investment experience, can withstand price fluctuations, and are willing to accept potential losses, buying Tornado Cash (TORN) may be a suitable investment choice. However, remember that all investments come with risks.
How much does it cost to buy 10 TORN?
To purchase 10 TORN, the cost in USD would be $--.
What can I do with Tornado Cash?
You can use Tornado Cash to pay for goods and services, invest, transfer and remit, preserve assets, participate in DeFi, donate, and more.
Disclaimer
Cryptocurrency markets are highly volatile and can experience rapid price fluctuations. You are solely responsible for your investment decisions and Bitrue is not liable for any losses you may incur. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information provided on this platform and any associated materials are for informational purposes only and should not be considered as financial or investment advice.
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