Power Ledger is a decentralized platform for electricity trading. It enables peer-to-peer trading with the real-time settlement so that users can buy electricity whenever they need, and can sell the excess electricity they have. Also, small retailers can use this platform to sell electricity. Later in this article, we explain how to buy power ledger coin (POWR).
As the Power Ledger ICO is built using blockchain technology, the platform boasts of transparency and low costs for payment settlements.
Moreover, Power Ledger coin integrates with power ports where an electric vehicle can get necessary recharges and can pay directly to the suppliers.
The Power Ledger platform facilitates two token types: POWR and Sparkz.
POWR tokens are necessary to access the platform. And the Sparkz token acts as the tokenized value of electricity across various local markets. Also, these Sparkz tokens will have a local currency value of where they deployed. For example, if Sparkz tokens are implemented in the USA, then 1 Sparkz = 1 USD. Likewise, if it is implemented in Australia, then 1 Sparkz = 1 AUD (Australian Dollar).
The vendors use these Sparkz tokens, which they get by depositing POWR tokens through smart bonds (implemented using smart contracts), to onboard their customers onto the Power Ledger platform.
Moreover, Sparkz tokens are exchangeable with POWR tokens. Simply put, Sparkz token is a bridge between the local power unit value and the varying price of POWR tokens.
The platform incentivizes green energy producers through a reward program. A part of proceedings form the transaction fees will go to this program.
Power Ledger Wallet
POWR is an ERC20 compliant token. Any wallet that supports ERC20 tokens can accommodate POWR tokens.
Please note that the token metrics are accurate at the time of writing and are subject to change in the future. We will put our best efforts to keep the info relevant and up to date.
According to CoinMarketCap, Power Ledger (POWR) is the top 100 cryptocurrency in terms of market capitalization.
The total supply is one billion tokens. And the current circulating supply is 384,497,828 tokens and is trading at 0.187414 USD, at the time of writing.
Buy Power Ledger Coin
Power Ledger is available to trade in a lot of cryptocurrency exchanges: Binance, DigiFinex, Bittrex, Gate.io, and many more.
Here we explain a step-by-step procedure on how to buy Power Ledger coin (POWR) on Binance exchange. Note that Binance does not trade or facilitate any fiat currencies. And we advise you to exchange your fiat or other cryptocurrencies for Ether (ETH) and make a deposit in Binance exchange before proceeding.
Alternatively, you can buy Ether (ETH) at Changelly.com by directly using a Visa credit card. Mind that you have to bear additional fees of around 5% of the purchase value.
Now follow these steps:
- Navigate here: BINANCE (Ensure that a proper padlock and HTTPS appear in the address bar of your browser.)
- Login with your account credentials. (If you do not have an account, create one. It is very easy.)
- Choose the POWR/ETH pair available from the top right pane.
- Navigate to the Order section displayed under the price chart.
- Place a buy order using an order type like Limit or Market.
- Once the trading window hits the desired price, the order gets executed.
- Viola! Now you own some MANA.
We discourage holding large volumes of cryptocurrency in an exchange wallet. Hackers and bad actors are in constant pursuit to attack and exploit exchanges.
Binance is a highly reputed exchange and a successful attack on it is unlikely. But, it would be better if you did not leave anything to chance. So, move your cryptocurrency to a hardware wallet like Trezor, which is a highly secure cold wallet.
What do you think about the POWR token? Please do comment below and tell us how helpful this article on how to buy power ledger coin is to you.
Disclaimer: Due to the volatile nature, the risk magnitude of Cryptocurrency investment is very high. You should thorough analysis and research before proceeding to invest. And taking help from a financial advisor may come in handy.
Being said that, the opinions and recommendations expressed here solely belong to the Author. And they do not necessarily reflect the views of eCoin4Dummies.com.