The AKASH token (AKT) is a native utility token powering the AKASH Network. If you’re reading this post, it’s probably because you want to learn more about the promising AKASH Network and explore staking opportunities with the native AKASH tokens (AKT).
We hope this article helps you get an insight into the potentials of the AKASH ecosystem and get started with purchasing your first AKASH (AKT) using Gate.io.
What is AKASH Network?
Despite its underlying complex technical infrastructure, AKASH Network is a very straightforward Blockchain-based project with explicit practical value.
Primarily, AKASH is a cloud computing services provider that operates globally – just like Amazon Web Services (AWS), Google Cloud or, Microsoft Azure. It has already created a space for itself in the multi-billion dollars industry and is looking forward to expanding more with its innovative products.
Sounds good, but wait! Aren’t there a ton of cloud computing services providers already? That’s right. Though the top three service providers hold 85% of the market, there are hundreds competing for the remaining 15%.
So, what makes AKASH unique?
AKASH’s cloud computing services are unique because:
- It is fully decentralized. Data on the AKASH network is not controlled by one company.
- AKASH’s decentralized infrastructure facilitates optimum utilization of underutilized computing capacity of hundreds of data centers across the globe.
- Leveraging the Blockchain-technology, AKASH (with its MAINNET 2) makes deployment of DApps efficient, faster, and fairly inexpensive. It is pioneering the decentralized cloud computing services providing developers a unique opportunity to say no to highly expensive conventional cloud services.
- Features a groundbreaking “on-chain auction system” which makes its cloud computing marketplace unique and meaningful for all stakeholders in the ecosystem.
- Blocks on the Akash Network are driven by a “Proof of Stake” blockchain. Validators verify and authenticate Akash Network blocks.
What Are AKASH Tokens (AKT)?
AKASH tokens (AKT) is a native utility token which means the tokens have specifically defined uses on the AKASH Network. Because AKASH relies on a Proof-of-Stake consensus protocol, “The core utility of AKT acts as a staking mechanism to secure the network and normalize compute prices for the marketplace auction.”
An important component of the AKASH network are the Validators. Validators have the ability to process new blocks and secure the blockchain. Those who stake their tokens with a Validator on the network are eligible to earn rewards in the native token (AKT) along with a portion of the transaction fees and service fees. Currently, rewars on the Akash Network exceed %50 apy.
ValidatorNode is a “Validator” and proud partner of the AKASH Network. We have over 3/4 million native AKT tokens staked – thanks to our staking-partners.
The first step to get started with Staking AKASH (AKT) is to purchase the tokens on a partner exchange. AKASH (AKT) is already exchanging ownership on Gate.io and several other popular cryptocurrency exchanges.
What Is Gate.io?
Founded in 2013, Gate.io is a pioneer crypto-to-crypto exchange supporting over 400 markets and over 180 different cryptocurrencies that includes all top popular coins like BTC (Bitcoins), ETH (Ethereum), USDT (Tethered USD), and AKT (AKASH Tokens). It is accessible to cryptocurrency users globally including the U.S, Canada, and Japan.
Gate.io is considered a highly advanced cryptocurrency exchange platform. It’s advanced and refined security protocol, unique and advanced features like margin lending and borrowing, period investment plans, and perpetual swap contracts, makes it stand out from its counterparts and traditional crypto exchanges.
Gate.io is becoming increasingly popular amongst pro-investors and retail traders registering exponential growth because of the significantly lower trading fees(at least 20-25 percent lower than the global average).
Now that you have a brief understanding of the AKASH Network, its native AKT token and Gate.io, without further ado, let’s get started with all that you need to know to purchase AKASH (AKT) using Gate.io.
How To Purchase AKASH (AKT) using Gate.io
Purchasing AKASH (AKT) using Gate.io is easy. The first step to get started is to create an account on the exchange platform.
Step1 – Create your account: To create your Gate.io account, visit the official website: Gate.io . Select “Sign Up” on the top right.
Once you select “Sign Up”, you will be ask to choose a username and password, your email which you want to be linked to your Gate.io account, and the country or region where you’re based. If you have a referral Id or code, you are encouraged to provide it while signing up to get additional benefits.
Step 2: Email Verification: After you have chosen a username and password and provided your email, select “Next.” You’ll automatically receive an email from Gate.io. Check your inbox and verify your email by clicking the verification link provided in the email.
Step 3: Getting your account verified: Once your email is verified, you’re good to go. However, to make transactions on the platform you’ll need to get your account verified. Getting your account verified is simple. All you need to do is:
- Log in to your Gate.io account with your email and password by selecting the “LogIn” option on the website home page.
- Get started with the account verification and KYC by going to Security Settings> KYC2 (Identity Verification).
It’s a quick process which requires uploading a government issued photo I.D card. To make sure you do it correctly, it is important to note that the uploaded pictures must be in .jpg or png format. Also the size should not exceed 4 MB. Remember, Gate.io doesn’t support special characters on your Full Name or passport / identity card or driver license number.
The verification takes anywhere between 30 minutes to 24 hours. Once verified, you'll receive a confirmation from Gate.io that your account has been verified.
Step 4: Set up 2FA to add an additional layer of security to your Gate.io account: It is crucial to set up a Two-Factor Authentication for enhanced security. At ValidatorNode we recommend securing your password and account with 2FA to all our staking partners. All you need to do is:
- log in to your account and select settings on the top menu
- go to security settings and select Two-Factor Authentication
- install “Google authentication” on your phone or desktop
- setup google authentication by scanning the barcode or entering the key that is displayed on the screen
- enter the Google Authenticator Code for Gate.io shown on your smartphone and you’re good to go
Step 5: Funding your Gate.io Wallet: The next step is to fund your Gate.io wallet.
Currently, to purchase AKASH (AKT) the platform supports two pairs: ETH/AKT and USDT/AKT. Therefore, to purchase AKASH(AKT) using Gate.io you’ll have to fund your exchange wallet with ETH or USDT. Also, you can deposit other popular currencies and purchase ETH or USDT to get AKASH (AKT).
We recommend you use USDT for this step due to the high ETH fee's on the Ethereum network. You can purchase USDT with any of the 180+ currencies listed on the exchange. For this purpose we will use LTC (Litecoin) to purchase USDT. You can transfer LTC from Coinbase to Gate.io with minimal fees.
- Select “Wallets” on the exchange homepage or the “Deposit” tab on your account dashboard
- It takes you to the “Funds” page where you can see the wallets associated with all different cryptocurrencies supported by the exchange platform
- Select “Deposit” right next to the cryptocurrency with which you want to fund your Gate.io wallet. Currently, Gate.io doesn’t support fiat currencies, therefore, it is important to select “Deposit” exactly next to the cryptocurrency you want to deposit – in this case we will use LTC
- Once you select the deposit link the platform will auto-generate a unique deposit address for the coins you want to add to your Gate.io wallet for LTC
- The final step is to copy the gate.io deposit address and paste it in your wallet from where you will initiate/process your transfer (Read our CoinBase article)
- Once your transfer is initiated and processed, within a few minutes, you’ll see your coins deposited in the Gate.io wallet
- Now that you have your LTC, in your wallet, on Gate.io you will want to exchange your LTC for USDT
Step 6: Purchasing US Dollar Tether(USDT) with LTC from your Gate.io Wallet: Once you have LTC in your Gate.io wallet, purchasing US Dollar Tether is a simple. All you need to do is:
- Select the “Markets” link from the top menu. It appears on any of the Gate.io pages
- On the top right corner type “LTC” in the search bar as seen in the image below
- You’ll see a list of options options, select the first option: LTC_USDT
- Once you make a selection, you’ll see the current price and the price movement. Also you’ll see the Buy LTC and Sell LTC options
- For the next step, it's important to know that we are selling LTC and purchasing USDT
- In the Sell LTC section, put in the amount of USDT tokens you want to purchase. You’ll immediately see the amount of USDT that would be deducted from your wallet and the number of USDT tokens that will be deposited once you confirm the purchase. Also, the purchase preview will show the fees and charges for the transaction
- Confirm the details and select Buy (LTC→USDT)
- As soon as your purchase is confirmed, visit the “Wallets” page from your account’s dashboard. Your newly purchased USDT and deducted LTC balance will be reflected in the relevant wallets
Step 7: Purchasing AKASH (AKT) with USDT from your Gate.io Wallet: Once you have USDT in your Gate.io wallet, purchasing AKASH (AKT) is similar to the previous step. However, in this step we will be trading USDT for AKT.
- Select the “Markets” link from the top menu. It appears on any of the Gate.io pages
- On the top right corner type “AKT” in the search bar as seen in the image below
- You’ll see two options: a) AKT_USDT & b) AKT_ETH
- select AKT_USDT
- Once you make a selection, you’ll see the current price and the price movement. Also you’ll see the Buy AKT and Sell AKT options
- Now put in the amount of AKT tokens you want to purchase. You’ll immediately see the amount of USDT that would be deducted from your wallet and the number of AKT tokens that will be deposited once you confirm the purchase. Also, the purchase preview will show the fees and charges for the transaction
- Confirm the details and select Buy (USDT→AKT)
- As soon as your purchase is confirmed, visit the “Wallets” page from your account’s dashboard. Your newly purchased AKT and deducted USDT balance will be reflected in the relevant wallets
Purchasing AKASH (AKT) using Gate.io is simple. Let’s take a look at the advantages of purchasing AKASH (AKT) using Gate.io:
- Gate.io is very reasonably priced; in fact, it has zero deposit or withdrawal fees. Also, the charges for trading and purchasing cryptocurrencies on Gate.io is up to 30 percent lower than the global average of 0.25 percent
- Gate.io supports two pairs ETH/AKT and USDT/AKT. While Ethereum’s ETH tokens are amongst the top, USDT is a stable coin. It means to purchase AKT you don’t have to invest in any highly volatile or high-risk crypto asset
- Gate.io is a highly secure crypto-to-crypto exchange and you get a range of options as the platform supports over 180 verified and listed altcoins
- Gate.io provides several trading types for seasoned investors and crypto traders. It offers exclusive order types, namely, Price Condition and Time Condition. With price condition order type one can make an order based on the price of the coin they want to purchase or sell. The order is valid for a given number of days. With time condition orders, traders can purchase a certain volume of tokens at specific periodic intervals. Given it’s trader-friendly features, Gate.io ranks amongst the top favorite cryptocurrency exchanges preferred by professional traders and investors
validatornode.com supports staking for the AKASH (AKT) Network. Currently, we have over a 800,000 AKT staked. Our delegators make a consistent passive income staking their AKT tokens facilitated by our robust staking infrastructure. Getting started with Staking and generating a passive income from your parked crypto assets is easy with validatornode.com.
** Gate.io has various promotional offers running from time to time. To check the offers with AKASH (AKT) on Gate.io please visit the official Gate.io page here: AKASH (AKT) Gate.io Offers