Launched last year, BRZ was the most traded Brazilian cryptocurrency in the country since exchanges began reporting transaction data on their platforms. But do you know how to buy BRZ? And what are its possible uses? Check out the step by step below and learn how to acquire the asset that allows Brazilians to access the international cryptocurrency market in a simpler way.
Let’s show you how to buy the BRZ on NovaDax, the Brazilian exchange that recently listed the cryptoasset. The asset is available on several other platforms.
Here’s how to buy BRZ at NovaDax
1 – First, access the NovaDax website in novadax.com.br and register by clicking on the Sign up button:
2-Fill in the requested data in the register. When filling in the email, click send code. Copy the received code into your email and paste it into the field just below. Choose a strong password.
3- To buy BRZ or any other cryptoasset, you will need to transfer real ones from your bank current account to your broker account. To do this, first verify your account. Click the user icon in the upper right corner and then click check.
4 – On the next screen, fill in the details such as name, CPF, phone number and address and click send. The process of verifying the phone number is done in this step. Please wait for an email to be received with the confirmation of your account’s verification.
5 – Once registered and verified, in order to buy BRZ, you will need to deposit Real or cryptoassets in the exchange account. To do this, in the upper right corner, click the wallet icon.
6 – On the following screen, click the deposit icon. If it is a deposit from your bank current account, click BRL-Broker’s Account. If it’s from another asset, choose the corresponding asset.
7 – Click understood at the end of the screen below and move on to the next one.
8 – Inform the amount and account of the broker to which you will transfer your resources. If it is the Brasil Plural account, the approval is automatic
9 – Use the data provided by the broker so that you can transfer funds from your bank account.
10 – Once the deposit is confirmed, hover, without clicking, on Trading. Then click Advanced/Real-Crypto Trading.
11-On the next screen, click the menu to display all the pairs available for trading and search for the BRZ/BRL pair.
12 – On the same screen, in the right corner, enter the amount of BRZ you want to buy and click buy BRZ.
13 – There you are: the BRZ is already in your wallet at the brokerage. Your balance will be displayed on the screen below, accessible by the wallet icon. If desired, you can transfer the tokens to your personal wallet or start trading against other assets on the platform itself.
What can I use the BRZ purchased for?
BRZ has some classic use cases. One of them is to access international exchanges where the asset is listed and trade against other cryptocurrency pairs without exposing to the short-term volatility of the bitcoin. For example, if there is a cryptoasset of your interest in Bittrex, you can use BRZ to buy that cryptoasset. One advantage is being able to make this trade 24 hours a day, 7 days a week.
The token also allows international exchanges to access the Brazilian market more easily. This is the recent case of FTX and VirgoX, two platforms on which BRZ was listed and which allows Brazilian investors to access the products of international platforms.
Disclaimer: The content presented is not a recommendation, indication and/or investment advice, and it’s the investor’s sole responsibility to make a decision. This is informational content only. It is recommended that investors seek professional advice before investing.