sUSD is a synthetic asset that tracks the value of the US dollar using the information provided by the Chainlink oracle. The token was built on the Ethereum Blockchain by the Synthetic Exchange protocol, a team dedicated to creating synth assets. sUSD is pegged against the value of the US dollar, which makes it a stablecoin.
Due to the peculiarity of this token and other stablecoins, its price usually hovers between the lows and highs of $1. There is a lot to know about this token, one of which is how to buy sUSD and the factors to consider when doing so. On this page, we will break down the complete process of buying sUSD both for beginners and professionals.
Let’s start with a quickfire guide:
Contents
- 1 How to Buy sUSD: Quickfire Walkthrough to Buy sUSD in Less Than 10 minutes
- 2 How to Buy sUSD – Full Step-by-Step Walkthrough
- 3 Where Can You Buy sUSD Online?
- 4 Ways to Buy sUSD
- 5 Should I Buy sUSD?
- 6 Risk of Buying sUSD
- 7 Best sUSD Wallet
- 8 How to Buy sUSD – Bottom Line
- 9 Buy sUSD Now via Pancakeswap
- 10 FAQs
- 11 How much is sUSD?
- 12 Is sUSD a good buy?
- 13 What is the minimum sUSD tokens you can buy?
- 14 What is the sUSD all-time high?
- 15 How do you buy sUSD tokens using a debit card?
- 16 How many sUSD tokens are there?
How to Buy sUSD: Quickfire Walkthrough to Buy sUSD in Less Than 10 minutes
If this is not your first time buying cryptocurrency, you can add the knowledge of how to buy sUSD to your repertoire with this quickfire guide.
This simple walkthrough will guide you on how to buy sUSD in less than 10 minutes.
- Step 1: Download Trust Wallet: To buy sUSD, you need to have Trust Wallet. You can download the wallet on your Android or iOS and set it up by following the on-screen prompts.
- Step 2: Search for sUSD: At the top right corner of the wallet, you will see a search tab. Look for sUSD.
- Step 3: Add Cryptocurrency Asset to your Wallet: To buy sUSD on Trust, you need to fund your wallet. You can do this by purchasing a cryptocurrency with your credit/debit card on Trust or sending it from an external wallet.
- Step 4: Connect to Pancakeswap: After funding your wallet, you can link it to Pancakeswap by clicking on ‘DApps.’ Pick Pancakeswap from the list and click on ‘connect.’ These simple steps will connect you to the Pancakeswap exchange platform.
- Step 5: Buy sUSD: Now that you are connected to Pancakeswap, you can finally buy your coin. Click on ‘Exchange’ and go to the ‘From’ tab. Next, choose the cryptocurrency you have in your wallet and move on to the ‘To’ tab. Here, select ‘sUSD’ from the list and enter the number of tokens you want to buy. Finally, click on ‘swap’ and confirm the trade.
There it is, you’ve just bought sUSD in less than 10 minutes.
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
How to Buy sUSD – Full Step-by-Step Walkthrough
The quickfire walkthrough is designed to teach you how to buy sUSD in a concise manner and thus – will help you get started within a short time. However, if you are learning how to buy a Defi coin for the first time, the quickfire guide may not be precise enough.
For this reason, we have prepared a more detailed guide that will explain every step to you. Here it is:
Step 1: Download Trust Wallet
You need to start by downloading Trust Wallet. It is a software wallet compatible with Android and iOS, so you should have no limitations based on your device type. Next, set your wallet up by creating a PIN and writing down the 12-word passphrase Trust gives you.
This passphrase is unique to every wallet and others can gain access to your tokens with it. Therefore, write your passphrase down in a safe place and keep it away from others.
Step 2: Add Cryptocurrency Asset to Your Trust Wallet
You now have your wallet ready, but you cannot buy sUSD yet. To purchase anything with your wallet, you need to fund it. You can do this in two ways. You can send a major cryptocurrency from an external wallet or buy on Trust using a credit/debit card.
Send Cryptocurrency from an External Wallet
The first way to fund your Trust Wallet is to transfer some assets from an external exchange or wallet. If this is your first time transferring cryptocurrency assets from one wallet to another, follow the steps below.
- Start by clicking on the ‘Receive’ button on Trust.
- Select the cryptocurrency you intend to receive.
- Copy the unique wallet address displayed.
- Go to the second wallet and paste the address into the box provided.
- Enter the amount of cryptocurrency you wish to send.
Confirm the transaction and wait as your cryptocurrency is delivered to your wallet.
Buy Cryptocurrency Using Credit/Debit Card
The other method is to buy cryptocurrency straight on Trust with your debit/credit card. We have provided a step-by-step guide for that too.
- On your Trust Wallet homepage, click on ‘Buy.’
- Pick the cryptocurrency you want to buy. It is better to choose a major coin such as BTC or ETH. You can also select SNX since you want to use it to buy sUSD later.
- Go through a Know Your Customer (KYC) verification procedure.
- Complete the process by uploading a copy of a government-issued means of identification.
- Input the amount of cryptocurrency you wish to buy.
Confirm the transaction and wait while your cryptocurrency is delivered to your Trust Wallet.
Step 3: How to Buy sUSD through Pancakeswap
Once you have funded your wallet, the next step is to connect to an exchange platform to swap the cryptocurrency for sUSD. For this, we suggest Pancakeswap. This DEX is one of the best options in the market today, and it makes sUSD available at cheaper rates than on other platforms.
Buy sUSD on Pancakeswap by following the guide below:
- Connect to Pancakeswap and click on ‘DEX.’
- Click on the ‘Swap’ button and then ‘You Pay.’
- Pick the cryptocurrency you have in your wallet as the coin you want to pay with.
- Enter the amount and move on to the ‘You Get’ section.
- Pick sUSD from the options available and look at the swapping rates between the two assets.
- Click on ‘Swap.’
Confirm your transaction and wait while your sUSD tokens reflect in your wallet.
Step 4: How to Sell sUSD
As you learn how to buy sUSD, you should also understand the best ways to sell. There are two ways to sell your sUSD tokens. You can exchange for another cryptocurrency asset or sell for fiat money.
We will explain the two subsequently.
- If you want to exchange your sUSD for another cryptocurrency, the process is similar to how you bought it. What you have to do is follow the process provided in step 3 in reverse order. Choose sUSD under ‘You Pay’ and the new asset under ‘You Get.’
- To sell sUSD for fiat money, you have to connect to a major exchange platform such as Binance. Then, create a Binance account and send your tokens in. You will have to complete a KYC process to sell your tokens on Binance. Once you do this successfully, you can sell your sUSD for fiat money, such as euros or pounds. Then, you can transfer your funds into your bank account.
Where Can You Buy sUSD Online?
You might be curious as to where you can buy sUSD online. You have many options here, from centralized to decentralized exchanges.
Centralized exchanges used to be the only option for investors until the recent rise and proliferation of decentralized platforms. These platforms, also known as DEX’s, have proved to be the most viable options when buying Defi assets such as sUSD.
If you are looking for a DEX to buy sUSD, you can try Pancakeswap.
Pancakeswap – Buy sUSD Through a Decentralized Exchange
Pancakeswap is a DEX where you can buy, sell, and swap various cryptocurrency assets, including sUSD. It is an automated market maker (AMM), a type of exchange whereby you are matched against the system rather than other investors. This system eliminates the need for an intermediary, making your purchase of sUSD fast and timely.
With growing competition in the market, Pancakeswap has maintained a strong foothold because of the novel features it brings to the game. The first is the diversity of its liquidity pool, where investors deposit different types of assets that others can swap with. This gives you a stream of income that doesn’t involve selling your sUSD.
People deposit tokens in the liquidity pool because the system uses the funds to trade and subsequently generate profits for investors. By investing in the pool, you get a liquidity provider (LP) token. This token serves various purposes, the most important of which is that it allows you to withdraw your investment and profits when you are ready.
Other enticing features on Pancakeswap include the farms where you can stake and get CAKE, the platform’s native token. You can also earn from other places such as the lottery and the prediction pool. Most of your earnings here will be based on luck and strategies. Finally, fans of collectibles can also earn NFTs on the platform.
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 sUSD
You will learn different ways when researching how to buy sUSD, but these methods are under two main categories. You can buy sUSD with cryptocurrency or a credit/debit card.
We will explain both ways to you - which will allow you to make an informed decision.
Buy sUSD with Cryptocurrency
You can buy sUSD with cryptocurrency that you already own in another wallet. You simply have to transfer the coins into your Trust Wallet, connect to Pancakeswap, and exchange for sUSD.
Buy sUSD with Credit/Debit Card
If you do not have any major cryptocurrency in another wallet, you can get some by buying directly on Trust with your credit/debit card. If you are using this method, you will have to complete a KYC procedure before executing the pruchase. Once you buy a major cryptocurrency, you can connect to Pancakeswap and swap the coin for sUSD.
Should I Buy sUSD?
When learning about how to buy sUSD, one of the questions that will keep you occupied is whether you should purchase the token or not. It is a reasonable concern as cryptocurrencies have higher volatility than other assets in the financial market.
To prepare yourself ahead, know about the variables that may determine the future of the token. We have explained some of them below.
Stability
Being a stablecoin, sUSD is expected to track the US dollar as the currency's value moves up and down. This feature assures you that at any point in time, the price of your sUSD tokens will hover around $1. However, there are instances where sUSD goes below or above the US dollar, but these circumstances are rare.
Being a synthetic asset, the price of sUSD does not always follow the upward and downward trends of the cryptocurrency market. Instead, it tracks the movement of the dollar, just like derivatives in the financial market. Therefore, if you want to invest in an asset with minimal but stable returns, sUSD may be a good token to consider.
Future Projection
When learning how to buy sUSD, just like any other asset, you must know how it is expected to fare in the future. For sUSD, the worth is likely to increase as inflation causes the dollar to rise.
For instance, if this does happen, your sUSD token worth $1 today may be valued at 2x its value in just one year (in relation to the wider value of capital).
Associated Projects
In most cases, a cryptocurrency’s future is tied to the protocol that established it and other associated projects. When the Synthetic Exchange team created sUSD, they designed other protocols along with it. Projects associated with sUSD include Synthetic Network Token (SNX), the native currency of the protocol.
It is with the SNX token that you can mint sUSD. There is also Kwenta, another token native to the Synthetic protocol. How all of these tokens affect one another is that people get interested in the projects whenever there is any new development with the Synthetic protocol as a whole. This interest, if positive, will increase the value of the tokens and earn investors more profits.
sUSD Price Prediction
Naturally, sUSD’s price will hover around $1 since it’s pegged against the US dollar.
- However, traders look to capitalize on the numbers behind the decimals, as selling when there’s an increase is a way to make profit.
- As the price of sUSD moves between the highs and lows of the dollar, those numbers behind the decimal point also make impacts that accumulate over time.
However, looking for price predictions on whether those numbers will move or not is a tricky business that can land you into losses. Since the token is a stablecoin, price predictions are quite invalid.
Risk of Buying sUSD
sUSD is a stablecoin which means that its value is pegged against the US dollar at a ratio of 1:1. This quality gives this coin a level of stability that is not common with most other cryptocurrency assets.
- However, despite the assurance this quality brings, the stability can be fleeting, especially in cases where there is an insufficient reserve.
- Furthermore, based on the coin’s relationship with the financial market, the value of the US dollar may fall, and this will affect the price of sUSD.
- If this happens, your asset will be worth less than when you bought it.
Also, there are occasions whereby unexpected events occur that make the price of sUSD fall or rise above $1. You can see evidence of those events in the token’s all-time high and low. To prepare for such an occurrence, purchase moderately and ensure you always diversify.
Best sUSD Wallet
You have learned how to buy sUSD; so now, you have to understand the best ways to store your tokens. The primary function of wallets is to hold cryptocurrency assets, but there are also other uses to them.
What constitutes a good wallet depends on its overall utility. As such, below we have selected three of the best sUSD wallets for you to consider.
Trust Wallet: Overall Best sUSD Wallet
The first option on our list for storing sUSD is Trust Wallet. This wallet is highly favored among cryptocurrency enthusiasts and reasonably so. It has all the qualities you need in a cryptocurrency wallet, from compatibility to cost-effectiveness. Trust Wallet is also backed by Binance, one of the largest enterprises in the world of cryptocurrency.
Coinomi: Best sUSD Wallet in Versatility
If you are planning to go into cryptocurrency as more than a hobby, you will most likely hold different assets at some point in time.
When you get to that level, you will need a wallet that accepts diverse assets to be stored on it alongside sUSD. You can prepare for that now by getting Coinomi. This wallet is compatible with most cryptocurrencies in the market.
Trezor One: Best sUSD in Security
If you are concerned about buying sUSD, you should also be worried about keeping your tokens safe afterward. A smart way to go about this is to store your cryptocurrency in hardware/cold wallets.
They are known as cold wallets because they keep your cryptocurrency away from the internet and out of reach from hackers. Trezor One uses two-factor authentication (2FA) to ensure that no one gains access to your wallet without permission.
How to Buy sUSD – Bottom Line
At this point, you should know how to buy sUSD both in brief and extensive ways. The bottom line is that you need to download Trust, add some funds to your wallet, and connect to Pancakeswap to exchange the cryptocurrency for sUSD. Once you understand all these core steps, you’re indeed good to go!
Buy sUSD Now via Pancakeswap
Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.
FAQs
sUSD is a stablecoin, so it mostly maintains its price against the US dollar. As of early August 2021, the price of sUSD still goes between $1 and $1.01.
sUSD can be a good buy based on what your investment plans are and subject to adequate research accordingly. Due to the coin’s stability, sUSD offers a great way to hedge against falling prices in the wider cryptocurrency market. So, if you’re looking to invest with minimal risk, this might be a good buy for you.
You are at liberty to buy as much sUSD as you need. You may, however, face limitations when you buy through some brokers.
sUSD achieved an all-time high (ATH) of$2.36 on 4 October 4, 2019. The all-time low (ATL), on the other hand, was recorded on 14 April, 2019, when the token hit $0.38. A simple look at these ATH and ATL figures indicates they are a departure from the stablecoin principle. Cases of sizable lows and highs like this happen in rare circumstances as explained earlier in this guide.
You cannot buy sUSD directly with fiat money, so you need to use your debit/credit card to purchase either SNX or ETH on Trust Wallet. Then, go to Pancakeswap and exchange the coin for sUSD.
The circulating supply of sUSD is at just over 256 million tokens. How much is sUSD?
Is sUSD a good buy?
What is the minimum sUSD tokens you can buy?
What is the sUSD all-time high?
How do you buy sUSD tokens using a debit card?
How many sUSD tokens are there?
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