This page provides technical information on how to interact with independent, third-party decentralized exchanges (DEXs). The assets herein are not accessible via the OKX Centralized Exchange, and OKX does not facilitate their trading. Digital assets displayed are automatically generated based on popularity ranking. OKX does not provide investment recommendations and is not responsible for any potential losses.
Discover how to buy SCRAP
Getting started with crypto can feel overwhelming, but learning where and how to buy crypto is simpler than you might think.
SCRAP
9GHauy...bonk
AED0.0010332
-AED0.01984 (-95.05%)
Last updated on --.
How to buy SCRAP on OKX DEX
Whether you’re new to DeFi or an experienced trader, follow this guide to buy SCRAP.
Step one
Get OKX Wallet
Create or import your Web3 wallet using the OKX app or web extension.
Step two
Fund your wallet
Transfer funds to your OKX Wallet. Make sure you’ve got the right network and crypto.
Step three
Start trading
Find the crypto you’re looking for and trade under your preferred trading mode.
What's SCRAP?
SCRAP is a digital token used in a virtual world to buy and trade items. Imagine it like a special kind of sticker you can use in a game to get cool stuff. SCRAP exists to make trading in this virtual world easier and more fun, solving the problem of needing a simple way to exchange items without using traditional currency.
How can I buy SCRAP?
1) Create an account on OKX by visiting the website and signing up with your email. 2) Fund your account using a bank transfer, credit card, or other local payment methods available in the United States. 3) Once your account is funded, search for SCRAP and place a buy order by entering the amount you wish to purchase and confirming the transaction.
Why do people buy SCRAP?
People buy SCRAP to participate in its virtual world ecosystem, where it can be used to trade items or access special features. SCRAP is popular for its ease of use and the community it supports. It allows users to engage in a digital environment without needing traditional currency, making it a practical choice for those interested in digital interactions.
Things to know before buying SCRAP in the United States
In the United States, cryptocurrencies like SCRAP are legal but subject to regulations. Users must complete KYC and AML verification when setting up accounts. Tax implications include reporting capital gains if SCRAP is sold for more than purchased, and income tax on any rewards earned. It's important to keep records for tax purposes and comply with local laws.
What are other ways to own SCRAP?
Users can obtain SCRAP through airdrops, where tokens are distributed for free, or by participating in Learn-and-Earn programs that reward knowledge acquisition. Staking SCRAP or providing liquidity can earn rewards, but these require understanding the network and potential risks. Task-based programs, like referrals, offer SCRAP for completing specific actions.
How can I store my SCRAP?
To keep SCRAP safe, consider using a wallet. Custodial wallets are managed by a service, while non-custodial wallets give you full control. Hot wallets are online and convenient, but cold wallets are offline and more secure. Always back up your wallet and keep recovery phrases safe. Choose a storage method that balances security with ease of access.
Why should I buy SCRAP on OKX in the UAE?
Learn more about the security measures keeping your SCRAP safe and readily available.
Best aggregated prices
OKX DEX aggregates major DEXs for the best prices and liquidity.
Secure transactions
OKX DEX is fully on-chain, protecting your wallet and flagging any potential risks.
Cross-chain made easy
OKX DEX’s bridge aggregator lets you easily bridge tokens across networks.
Diverse trade options
OKX DEX offers trading modes tailored for various trading needs.
Learn more about how to buy SCRAP (SCRAP)
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See what you can do with your crypto
Now that you’ve mastered the art of buying crypto, check out its potential.
Trade your crypto
Take advantage of price fluctuations and trade your crypto for other assets using OKX DEX.
HODL, or hold onto your crypto
If you think your crypto will increase in value over time, you can keep it in your wallet.
Stake your crypto or join campaigns
Explore the Discover page and participate in eligible staking opportunities or other campaigns.
How to buy crypto FAQ
1. Digital wallet
2. Existing cryptocurrency, such as BTC, ETH, or SOL, to be used as a base currency for swaps.
2. Existing cryptocurrency, such as BTC, ETH, or SOL, to be used as a base currency for swaps.
The phrase "crypto swap" is used to refer to the act of swapping one cryptocurrency for another without using a conventional exchange.
To swap on DEX, you’ll need to:
1. Set up and connect your digital wallet to the DEX you choose
2. Select SCRAP (SCRAP) as the crypto you want to swap from and to
3. Indicate the amount of cryptocurrency you wish to swap for SCRAP (SCRAP)
4. Execute the transaction
1. Set up and connect your digital wallet to the DEX you choose
2. Select SCRAP (SCRAP) as the crypto you want to swap from and to
3. Indicate the amount of cryptocurrency you wish to swap for SCRAP (SCRAP)
4. Execute the transaction
Slippage is the difference between the price a trader expects to pay or receive, and the price they actually pay. It occurs when a market moves as trade is happening. Slippage usually happens during periods of high volatility, and exchange rate changes.
These are tips to consider when choosing a secure wallet for DEX:
• Cold Wallets (Offline): Hardware wallets that are not connected to the internet make them highly secure against hacks.
• Hot Wallets (Online): OKX offers integrated wallets for easy access to your crypto. Ensure they are protected with 2FA and encryption.
• Backup Features: A good wallet allows you to back up your private keys securely.
• User Control: Opt for wallets where you hold your private keys, ensuring full ownership of your crypto.
• Cold Wallets (Offline): Hardware wallets that are not connected to the internet make them highly secure against hacks.
• Hot Wallets (Online): OKX offers integrated wallets for easy access to your crypto. Ensure they are protected with 2FA and encryption.
• Backup Features: A good wallet allows you to back up your private keys securely.
• User Control: Opt for wallets where you hold your private keys, ensuring full ownership of your crypto.
Disclaimer
This is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances. Not all products are offered in all regions. For more details, please refer to the OKX Terms of Use and Risk Warning. OKX Web3 Wallet and its ancillary services are subject to separate Terms of Service.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.