Note: This is not financial advice. This is for educational purposes only. Please note that cryptocurrency is a highly volatile, extremely risky asset class; only invest what you can afford to lose.
“How to buy CluCoin” is the question both seasoned and fledgling cryptocurrency investors want to know as it trends on Twitter and Google. According to the white paper, CluCoin boasts that it aims to be a “hyper deflationary token with a smart staking system.” If this sounds like gibberish to you, don’t worry, I’ll explain it to you in an easy-to-understand manner.
In the crypto world, you can choose to “stake” your cryptocurrency, which is similar to locking your money into a CD or an IRA account so it can earn interest.
However, just like an IRA account, there are some hindrances when it comes to “unstaking” — or withdrawing — your crypto. In many cases, your crypto is locked away for a specific period of time. CluShare, the team behind the CluCoin project, plans to offer a staking option that lets users earn passive income on cryptocurrencies without totally blocking off their digital assets. CluShare wants to let users withdraw their crypto whenever they want, but they’ll have to pay a 10% penalty: 5% goes back to CluCoin token holders and the rest goes back to liquidation.
CluShare is also reportedly focused on philanthropy; they claim that each time someone sells CluCoin, a portion of it goes to charitable projects. The blockchain system offers transparency, so CluShare says that CluCoin holders can rest assured that donations will go to the right hands.
If CluShare’s mission tickles your fancy, here’s how to buy CluCoin.
How to buy CluCoin
To buy CluCoin, you need to download the TrustWallet app and purchase Binance Coin (BNB). You can purchase BNB coin on Binance or BitMart and send it to TrustWallet. You can also purchase BNB directly on the TrustWallet app by selecting “BNB” on the Wallet tab and tapping “Buy” on the top-right corner.
Note: If you live in a location where it’s difficult to buy BNB (e.g. New York), here’s a workaround: Buy XLM on Coinbase, send XLM to Atomic Wallet, exchange XLM for BNB on Atomic Wallet, and send BNB to TrustWallet.
Once you’ve gotten your BNB, here are the steps to buy CluCoin.
1. Head to TrustWallet’s main page and you should see your BNB. Tap on “BNB,” hit “More” and tap on “Swap to Smart Chain.”
2. Under “Swap,” tap anywhere within the BNB “You Pay” space. This will bring up four options: 100%, 75%, 50% and 25%.
3. Tap “100%” to transfer 100% of your BNB to Smart Chain. Tap “Swap,” hit “Submit” and wait for the conversion to process. (Keep in mind that there is a network fee; you’ll have to subtract the network fee from your BNB balance for the exchange to go through).
4. Head back to TrustWallet’s main page and you should see that your Smart Chain order is fulfilled.
Using PancakeSwap to convert Smart Chain to CluCoin
For the next set of instructions, If you have Android, you can skip the first step. But if you have iOS, you’ll need to type in a URL to install “dApps,” a browser in TrustWallet that gives you access to PancakeSwap.
1. Open Safari and type “trust://browser_enable.” A prompt will appear with the following message: “Open this page in ‘trust’?” Tap “Open.”
2. In the Trust Wallet app, tap on “Browser” on the bottom taskbar (in Android, instead of “Browser,” you’ll see the word “dApps”). Next, tap on “PancakeSwap.”
3. Tap the “Connect” button on the top-right corner and hit “TrustWallet.” You should see that your Smart Chain tokens are now in PancakeSwap.
4. Tap “Select a currency” and type in the following string (CluCoin’s contract address) into the search area: 0x1162e2efce13f99ed259ffc24d99108aaa0ce935. You should see that “Clu” popped up as a selection.
5. Click on the symbol next to the clock icon and set your slippage to 12%. Click “X” to save and exit the window.
6. Tap “Swap” and “Confirm Swap.” This will prompt a “Transaction submitted” message to pop up.
7. Click on “View on BscScan.” The status bar should say “Success,” proving you successfully converted Smart Chain into CluCoin. Exit PancakeSwap.
How to see CluCoin in TrustWallet
Now, you may be wondering, “Okay, I bought some CluCoin, now where are they?” Don’t worry; I’ll show you how to enable its visibility on Trust Wallet.
1. Copy CluCoin’s contract address here.
2. Navigate to TrustWallet’s main page. Click the blue icon on the top-right corner.
3. In the search bar, type in “Clu”
4. Tap on “Add Custom Token.” Change the network from Ethereum to Smart Chain. Under “Contract Address,” paste CluCoin’s Contract Address.
5. Type “CluCoin” for Name, “Clu” for Symbol and “9” for Decimals. Hit Save.
5. Voila! You should see your CluCoin tokens in the TrustWallet app.
As of press time, it seems like only the amount of tokens you have are being shown on TrustWallet; not its estimated dollar amount.
Keep in mind that CluCoin is still in its infancy, so it’s a highly risky asset. As with any investment, you should assess your risk tolerance and only invest what you can afford to lose.