🆗How to Buy

How to Buy SCOP Token

The "How to Buy" section of the Scopuly GitBook is designed to guide users through the process of obtaining SCOP tokens. Whether you're a seasoned investor or new to the world of cryptocurrencies, this section provides step-by-step instructions to facilitate the acquisition of SCOP tokens within the Scopuly ecosystem.

For acquiring SCOP tokens, users can easily create a Stellar address via Scopuly, activate the account with a minimum of 2.5 XLM, set up a Trustline for SCOP, and proceed to buy or sell SCOP tokens.

Creating a Stellar Wallet:

The first step to buying SCOP tokens is to create a Stellar wallet, if you don’t already have one. Users can choose from a variety of wallet applications that support Stellar-based assets, including the Scopuly Wallet. Creating a wallet typically involves downloading the application, setting up an account, and securely storing recovery phrases or passwords.

Funding Your Wallet:

Once your wallet is ready, it needs to be funded with Stellar Lumens (XLM) to cover initial account activation and transaction fees on the Stellar network. XLM can be bought from various exchanges or swap services and then transferred to your Stellar wallet address.

Establishing a Trustline to SCOP:

Before you can hold SCOP tokens in your Stellar wallet, a Trustline must be established between your wallet and the SCOP issuing account. This is done within the wallet application, authorizing the wallet to receive and manage SCOP tokens.

Buying SCOP Tokens on SDEX:

With a funded wallet and Trustline set up, users can purchase SCOP tokens directly on the Stellar Decentralized Exchange (SDEX). Navigate to the trading section of your Stellar wallet application, search for SCOP token trading pairs, and execute a buy order at your desired price.

Using Third-Party Exchanges or Swap Services:

If SCOP tokens are listed on other exchanges or swap services, users can buy them through these platforms often by exchanging them with other cryptocurrencies, stablecoins, or fiat currencies.

Storing SCOP Tokens Securely:

After purchasing SCOP tokens, it’s crucial to manage and store them securely. Ensure your Stellar wallet is protected with strong passwords, two-factor authentication (if available), and that recovery phrases are stored in a secure location.

Participating in SCOP Token Sales:

Scopuly may conduct token sales where users can participate and acquire SCOP tokens. Details of any sales will be posted on official channels and require users to adhere to the guidelines set out for participation and purchase.

Market and Pricing Research:

Prior to purchasing SCOP tokens, users are encouraged to perform market and pricing research using credible data sources. Being well-informed about the current market conditions and historical pricing can help in making prudent investment decisions.

By following these steps, users can navigate the process of buying SCOP tokens with confidence and ease. The "How to Buy" section is essential reading for anyone looking to join the Scopuly community as a SCOP token holder, contributing to and benefiting from the vibrant ecosystem that Scopuly is fostering.