How to Buy Aelf (ELF) Tokens

In Walkthroughs by CryptoWalkthrough Team

Trade ELF with Lowest Fees

Aelf tokens are best bought and sold on Binance

aelf

aelf

$0.34

ELF 4.22%

Aelf (ELF) didn’t conduct an ICO, but rather launched recently via a completely private sale. Aelf is promising a distributed blockchain platform that would compete with Ethereum, Cardano and EOS. Their main advantage is offering side chains for each smart contract, solving the scaling issues that have plagued Ethereum recently.  Aelf has been described as a 3rd generation blockchain platform (Bitcoin as 1st generation, and Ethereum as 2nd generation), and are planning to launch their blockchain mainnet sometime in Q2 2018. Aelf currently has a market cap of $100,680,000.00. This guide will walk you through how to quickly and safely buy, store or sell Aelf tokens.

How to Buy Aelf Tokens

Aelf are tradable on a number of crypto exchanges including Binance, Huobi, OKEx, Gate.io and Bibox. Our favorite is Binance, as they have the highest volume, the lowest 0.1% trading fees, fun trading competitions with great prizes, and easy to set up accounts.

To buy Aelf, follow these simple steps:

  1. Open a new account with Binance. It is free and easy to setup. If you like, read our full Binance review.
  2. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to buy ELF immediately, but we highly recommend setting it up afterwards to better secure your account.
  3. Ensure that you have some Bitcoin (BTC) or Ethereum (ETH) to use to purchase Aelf. Binance does not accept fiat currency deposits. If you need BTC or ETH, read our quick guide to buying cryptocurrencies with Bitcoin or Ethereum.
  4. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits Withdrawals menu option.
  5. On this page, enter either BTC or ETH on the right and click the Bitcoin or Ethereum link displayed. Next, click the Copy Address button to copy the Deposit Address that is shown. It is very important that you select the correct currency deposit address. Be careful to not send BTC to your ETH deposit address for example. We recommend using ETH currently since confirmation times are much faster (meaning your ETH will be ready to be used to purchase ELF more quickly than a BTC deposit).
  6. Utilizing your wallet or exchange where you hold BTC or ETH, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  7. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab. For ETH deposits, assuming there are no issues with the Ethereum network, they will typically be confirmed in 10-15 minutes. For BTC, the wait can be considerably longer currently!
  8. Once confirmed, navigate to the Exchange>Basic, enter ELF into the search box on the top right and click either the small BTC or ETH button as appropriate. This will display the ELF/BTC or ELF/ETH trading pair. Click the pair. If you like, also click the star icon next to the pair to mark it as a Favorite for easy access in the future.
  9. You will now see the trading view for either ELF/BTC or ELF/ETH. Look for the “Buy ELF” box that is below the chart of recent trade activity. The default order type is a “Limit” buy, letting you set the price you would like to pay for ELF. If you prefer a “Market” buy (at the current price), click the Market tab. For a Limit buy, enter in the price you would like to pay, and the number of ELF you would like to purchase and click the green “Buy ELF” button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price lower than the market.
  10. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of ELF you have purchased and their price in BTC or ETH. Congratulations, you are now the proud owner of Aelf tokens!

How to Safely Store Aelf Tokens

Until their mainnet launches, and Aelf switches to a token on their own blockchain, ELF is an Ethereum ERC20 token, and thus can be stored on any Ethereum-friendly wallet that supports ERC20 tokens. We recommend MyEtherWallet for a browser-based wallet to store ERC20 tokens such as Aelf. However, we very strongly recommend that you purchase and utilize a hardware wallet such as the Ledger Nano S, which greatly improves your security and reduces the chance that your tokens can be stolen or lost through human error. The Ledger Nano S is easy to set up, supports hundreds of cryptocurrencies including Aelf, and makes managing your holdings quite simple while giving you great peace of mind. Be sure to only purchase the Ledger Nano S directly from Ledger. Do not purchase from Amazon, eBay or another reseller, since it is possible the security of the device could be compromised before you even receive it. Purchasing directly from Ledger ensures that nobody has accessed your device other than you.

How to Sell Aelf Tokens

This section assumes you already own some Aelf tokens and have them stored on another exchange or the official wallet. To sell Aelf follow these simple steps:

  1. If you do not already have one, open a new account with Binance. It is free and easy to setup. On Binance, click the Create Account link to get started. If you like, read our full Binance review.
  2. (OPTIONAL) After opening your account, setup Two-factor Authorization (2FA) to add another layer of security. You can skip this step if you want to sell ELF immediately, but we highly recommend setting it up afterwards to better secure your account.
  3. After successfully confirming your account via the email you receive from Binance, log in with your account details, and navigate to the Funds > Deposits Withdrawals menu option.
  4. On this page, click the Deposit link for ELF and copy the Deposit Address that is shown. Note that is very important that you select the correct currency deposit address. Be careful to not send ELF to your BTC deposit address for example.
  5. Utilizing your wallet or exchange where you hold Aelf tokens, request a withdrawal or transfer to the Binance deposit address you just copied. Double-check the address before sending!
  6. Wait for the deposit to be confirmed. You can monitor the status in the Funds>History menu tab.
  7. Once confirmed, navigate to the Exchange>Basic, enter ELF into the search box on the top right and click either the small BTC or ETH button based on what currency you would like to receive. This will display the ELF/BTC or ELF/ETH trading pair. Click the pair. If you like, also click the star icon next to the pair to mark it as a Favorite for easy access in the future.
  8. You will now see the trading view for either ELF/BTC or ELF/ETH. Look for the “Sell ELF” box that is below the chart of recent trade activity. Enter in the price you would like to sell for, and the number of ELF you would like to sell and click the red “Sell ELF” button. Your trade will now be placed. Depending on the price you set it may be fulfilled immediately, or it may take some time if you set a price higher than the market.
  9. Once your trade has completed, you can find the details under the Orders>Trade History menu option, showing the exact number of ELF you have sold and their price in BTC or ETH. Congratulations, you have sold your Aelf tokens!

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