Alchemix USD is a decentralized finance protocol that lends money to holders and pays off their loans automatically. Users will provide a collateral asset that the protocol will lock until it has fully repaid the loan. The system uses the collateralized assets to garner interest to pay off the debt. 

The Alchemix USD protocol has a native currency known as ALUSD. In this guide, we are going to walk you through how to buy Alchemix USD from the comfort of your home. 

How to Buy Alchemix USD – Quickfire Walkthrough to Buy Alchemix USD In Less Than 10 Minutes 

Alchemix USD is an impressive project that you may be looking to buy. The process of how to buy Alchemix USD tokens is a simple one, and it gets even better if you use a decentralized exchange or DEX like Pancakeswap. 

The guide below will walk you through how to buy Alchemix USD in less than ten minutes. 

  • Step 1: Get Trust Wallet: The wallet integrates with Pancakeswap seamlessly, and you will need it to buy Alchemix USD tokens. You can download Trust Wallet on your iOS or Android device. 
  • Step 2: Search For Alchemix USD: Locate this tab at the upper right corner of your wallet and type in ALUSD. You will immediately see the coin alongside the numerous other tokens available. 
  • Step 3: Add Cryptocurrency Assets to Your Wallet: Since you cannot trade with an empty wallet, you will have to fund your Trust. You can choose to transfer some tokens from another wallet or buy them directly with your credit or debit card. 
  • Step 4: Connect to Pancakeswap: You need to connect your Trust Wallet to Pancakeswap before you can use the DEX. Select ‘DApps’ at the lower part of your Trust Wallet, choose Pancakeswap, and connect. 
  • Step 5: Buy Alchemix USD: You can now buy your tokens by selecting the ‘Exchange’ button. You will see the ‘From’ tab that subsequently produces a drop-down box, and you can choose the cryptocurrency tokens you just bought or transferred. Then, look for the ‘To’ tab and choose ALUSD and the quantity you want. Finally, complete the exchange. 

Trust Wallet will display your Alchemix USD coins within seconds. 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

How to Buy Alchemix USD – Full Step-By-Step Walkthrough 

Our quickfire guide on how to buy Alchemix USD may provide enough information if you are already familiar with investing in Defi coins or using a decentralized exchange like Pancakeswap. However, if you aren’t, then a more thorough guide is just what you need, and we will provide that in subsequent sections. 

Step 1: Get Trust Wallet 

As we have explained in the quickfire guide on how to buy Alchemix USD, Pancakeswap is the most suitable DEX for the exchange. You will find Pancakeswap on Trust Wallet, which you can download from the App or Google Play Store. Trust Wallet is a great option for storing your Alchemix USD.

It has the support of Binance, which is one of the world’s renowned digital currency trading platforms. Additionally, the wallet is highly secure and provides a medium for you to buy your Alchemix USD tokens and subsequently store them.

After downloading Trust Wallet, set it up and choose a secure and memorable PIN. Trust Wallet will also give you a recovery sheet that you can use to log into your wallet if you misplace your device or forget the PIN. It is best to write it down and store it somewhere that is inaccessible to unauthorized persons. 

Step 2: Deposit Cryptocurrency Tokens in Your Trust Wallet 

You will need to deposit some cryptocurrency coins in your Trust Wallet if you hope to execute exchanges. Typically, there are two ways to finance your wallet, and you can opt for either one. 

Transfer Cryptocurrency Assets From an External Wallet 

If you own some digital currencies in another wallet, you can simply transfer the tokens to your Trust Wallet and subsequently purchase your ALUSD tokens. It is a simple process, and you can follow the guide below to complete it within a few minutes. 

  • Find ‘Receive’ in your Trust Wallet. 
  • Look for the token you intend to transfer from your other wallet and copy the address that Trust Wallet displays for it. 
  • Next, open your external wallet and paste the address in the ‘Send’ tab. You can also choose the number of tokens you intend to transfer. 
  • Finally, complete the transaction and await your tokens shortly. 

Buy Cryptocurrency Tokens With Your Credit/Debit Card

Alternatively, you can buy digital assets with your credit or debit card. However, Trust Wallet expects you to complete the Know Your Customer (KYC) process first because you cannot execute anonymous fiat trades. The KYC process essentially requires some of your personal information and a government-approved identification card. 

You can now buy your tokens by following the guide below.

  • Find the ‘Buy’ tab on your Pancakeswap page. 
  • Trust Wallet will immediately unveil the diverse coins available on the platform, and you can choose anyone.
  • However, we recommend that you purchase a popular token like Bitcoin or BNB. 
  • You can then choose the quantity you want, enter your card details in the required sections, and confirm the transaction. 

You will receive the tokens in a matter of seconds. 

Step 3: How to Buy Alchemix USD Via Pancakeswap 

Now that you have funded your Trust Wallet, you can connect to Pancakeswap and follow the manual below to buy Alchemix USD tokens. 

  • On your Pancakeswap page, look for ‘DEX’ and choose ‘Swap.’
  • It will present a ‘You Pay’ icon, and you can choose the tokens you transferred or purchased earlier.
  • You may also select the quantity you want to use for the exchange. 
  • Next, head to the ‘You Get’ section, choose Alchemix USD, and the number of tokens you want. 
  • Finally, complete the trade and expect your tokens in a couple of minutes. 

Step 4: How to Sell Your Alchemix USD Tokens 

Since you are contemplating buying some Alchemix USD tokens, it is also best to learn how to sell them. That way, you can realize the additional value they have accrued – when the time arises.  

Essentially, you can sell Alchemix USD tokens by opting for one of the two options we will provide below. 

Swap for Another Token 

You can decide to exchange your Alchemix USD tokens for another cryptocurrency with a lower or higher value. Pancakeswap also facilitates exchanges like this, and you can simply follow the previous step. 

However, you will choose Alchemix USD in the ‘You Pay’ section and your new tokens in the ‘You Get’ category. 

Sell for Fiat Money

Alternatively, you may choose to sell the Alchemix USD tokens for fiat money that you can withdraw to your bank.

  • You can only do this by transferring the Alchemix USD tokens to a centralized trading platform like Binance.
  • Interestingly, this is a simple process that Trust Wallet’s collaboration with Binance provides for. 

But first, you will have to complete the required KYC process. 

Where Can You Buy Alchemix USD Tokens Online?

Alchemix USD is a Defi coin with impressive use cases, which has brought sizable traction to the digital asset. You will easily find a centralized or decentralized platform to purchase these tokens, but the most suitable one is to use a DEX like Pancakeswap. 

There are several reasons Pancakeswap is the perfect DEX for purchasing Alchemix USD tokens, and we will delve into them in the section below. 

Pancakeswap – Buy Alchemix USD Coins Through a Decentralized Exchange

The selling point of a DEX such as Pancakeswap is that it facilitates the purchase and sale of Defi coins like Alchemix USD without going through an intermediary. You can access Pancakeswap through Trust Wallet, which is an excellent option for storing your coins. Both Pancakeswap and Trust Wallet have a simple user interface suitable for both cryptocurrency veterans and novices.

With Pancakeswap, you can earn rewards and interest from your idle coins through staking and farming opportunities. Essentially, your Alchemix USD tokens contribute to the system’s protocol by providing liquidity for traders. Other money-making opportunities Pancakeswap offers are in the form of prediction and lottery features, which are extra earning sources.

Pancakeswap also hosts numerous coins, which is excellent if you intend to diversify your portfolio. As you will realize, diversifying is a smart option that helps you minimize your potential risks. This also ensures that there is always enough liquidity if you decide to sell your Alchemix USD tokens. The liquidity is sufficient for both major and minor coins. 

Another significant service Pancakeswap offers is that it speedily executes your transactions. Cryptocurrency is a volatile asset with fluctuating prices that can cause you to quickly miss out on great deals if there is a delay in execution. However, Pancakeswap salvages the situation through its fast execution time frame without compromising its low transaction fees. 

Pros:

  • Exchange digital currencies in a decentralized manner
  • No requirement to use a third party when buying and selling cryptocurrency
  • Supports a sizable number of digital tokens
  • Allows you to earn interest on your idle digital assets
  • Sufficient levels of liquidity – even on smaller tokens
  • Prediction and lottery games


Cons:

  • Might appear daunting at first glance for newbies
  • Does not support fiat payments directly

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

Ways to Buy Alchemix USD

You can buy your Alchemix USD tokens via one of two established methods. However, you will have to use a popular cryptocurrency like Binance Coin or Bitcoin for the transaction. 

Buy Alchemix USD With Cryptocurrency 

This is a pretty straightforward way to buy Alchemix USD. You can simply transfer digital currencies from an external wallet to your Trust Wallet.

However, you can only use this method if you already own some cryptocurrencies in another wallet. Simply transfer the tokens to your Trust Wallet, connect to Pancakeswap, and buy your Alchemix USD coins. 

Buy Alchemix USD With Your Credit/Debit Card

On the other hand, if you do not own any cryptocurrency, you can buy some with your credit or debit card. Trust Wallet makes the process easy for you, but you have to complete its KYC requirement first. 

Then, you can input your card details where necessary and buy the tokens you will use for the exchange. Next, connect Trust Wallet to Pancakeswap and buy your Alchemix USD tokens. 

Should I Buy Alchemix USD?

Since you are learning how to buy Alchemix USD, then you likely know a fair bit about this project. However, as with many investors, you might be indecisive about whether Alchemix USD is a good buy. Well, that is something you can answer after understanding the essence of the Alchemix USD platform and wider long-term objectives. 

Here are some factors you may consider when researching Alchemix USD. 

Established Cryptocurrency Project

The Alchemix protocol is a new project that was launched in March 2021. However, it has legitimate systems that make it possible for the protocol to fulfill its purpose. Its essence is to provide its users with loans that repay themselves. For instance, the protocol provides you with a vault that you can use to manage any yield advance position you take.

There is also no extensive lock-up period, and you can access your funds whenever you want. Additionally, if you have insufficient funds to pay your debt, you can liquidate some of your collateral within the protocol. The Alchemix USD protocol also designed the vault to be flexible enough to facilitate solid pegging mechanisms.

You can repay your loan with either DAI or ALUSD. If either token is below the required peg, you can pay your debt at a discount by buying them off the market. Alternatively, if it is above the peg, you can mint ALUSD tokens to reduce the value or simply repay your loan with DAI. 

The architecture of the project improves its credibility in the market. Owing to the use cases the protocol offers, it enjoys impressive recognition in the decentralized finance market.

Instability 

As of the time of writing in early August 2021, one ALUSD has a price of just over $1.00. This is in line with the token's framework as a stablecoin. However, ALUSD has also encountered volatility since being launched. 

  • It has an all-time low of $0.06, which it hit on 19 March 2021.
  • On the other hand, it has an all-time high of $2.13 which it attained on 21 March 2021. 

While price alterations may offer useful pointers, your personal research should remain the basis of your buying decision.

Smart Loans 

Alchemix USD enables users to take loans that repay themselves.

  • Essentially, you can collateralize your digital tokens like ALUSD or DAI and borrow a percentage from them.
  • Your tokens will remain untouched, but the liquidity they contribute to the Alchemix USD protocol will generate interest which the system will use to repay your loans. 
  • So, in a nutshell, you can borrow cryptocurrency without having to pay it back, technically.
  • Thus, it is an avenue to raise funds without liquidating your assets or borrowing from a centralized financial institution.

Additionally, you will not have to worry about high-interest rates in repaying the loan. 

Alchemix USD Price Prediction

One of the factors that drive numerous cryptocurrency holders to invest in tokens is price predictions. A Price prediction is viral on the internet today, and a common mistake most cryptocurrency traders make is buying their tokens solely because of it. 

However, for a stablecoin, price predictions are largely invalid, as these tokens often reflect the value of a dollar. As such, there should be other important factors that will form the basis of your investment in Alchemix USD.

Risks of Buying Alchemix USD Tokens 

The cryptocurrency market is volatile and has some risks attached to each investment. Despite being a synthetic stablecoin, the price of Alchemix USD can suffer alterations that will adversely affect your investment.

  • If this happens, you will have to wait for the coin to rise above the value you purchased before you can realize your profit. The risk is that it may never happen. 
  • Fortunately, there are practices you can incorporate that will help mitigate your risks. The most important one will be to research well before buying Alchemix USD.
  • Then, when you understand the project's purpose, you will be more informed.

You may also want to consider diversifying your portfolio. For example, avoid putting all your capital in Alchemix USD so that even if the price alters, you will be able to contain the loss. 

Best Alchemix USD Wallets

Since you will need secure storage for your Alchemix USD tokens, we have compiled some of the best wallets for 2021. These wallets offer impressive services for interacting with your Alchemix USD. 

Trust Wallet - Overall Best Wallet for Alchemix USD 

The overall best wallet for storing your Alchemix USD tokens is Trust Wallet. It syncs with Pancakeswap, a great DEX for purchasing Alchemix USD tokens.

The DEX is also very secure, and you never have to worry about the compromisation of your tokens. Additionally, it has a simple user interface and is easy to access. 

Trezor Wallet - Best Alchemix USD Wallet for Security 

Trezor Wallet is a hardware wallet that stores your private cryptocurrency keys offline. Thus, it makes them utterly inaccessible by hackers.

Trezor Wallet also accommodates more than a thousand tokens, which means that you can store your Alchemix USD alongside other diverse coins. Lastly, the wallet has stringent security and backup measures in place. 

Coinomi - Best Alchemix USD Wallet For Convenience 

Coinomi is also a hardware wallet that stores your Alchemix USD tokens offline. It has been in existence for almost a decade, and no one has ever successfully hacked it.

You can store more than 1,000 different cryptocurrency tokens on it. Coinomi also allows you to access your wallet on both your desktop computer and mobile device, making it very convenient. 

How To Buy Alchemix USD - Bottom Line

Now that you have successfully cracked how to buy Alchemix USD, you can purchase all the tokens you want via a great DEX like Pancakeswap. You simply have to connect your Trust Wallet to Pancakeswap and begin exchanging tokens! 

 

Buy Alchemix USD Now via Pancakeswap

 

 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.

FAQs

How much is Alchemix USD?

One Alchemix USD has a price of just over $1 as at the time of writing in early August 2021.

Is Alchemix USD a good buy?

Determining if Alchemix USD is a good buy is a decision you have to make independently, and adequate research is all you need for that. This is why you should contemplate the pointers in our 'should I buy Alchemix USD' section, as this will guide you on the relevant things to read.

What is the minimum Alchemix USD tokens you can buy?

If you desire, you can buy less than one Alchemix USD token. It is possible because you can purchase cryptocurrency in tiny fractions.

What is the Alchemix USD all-time high?

Alchemix USD has an all-time high of $2.13 which it attained on 21 March 2021.

How do you buy Alchemix USD tokens using a debit card?

You can use Trust Wallet to buy Alchemix USD tokens with a debit card. However, you must complete the Know Your Customer (KYC) process first. Then, you can input your card details and buy the base cryptocurrency that you’ll swap for Alchemix USD. Next, connect Trust Wallet to Pancakeswap, and exchange the tokens you purchased for Alchemix USD.

How many Alchemix USD tokens are there?

Alchemix USD has a supply of over 248 million tokens.