How to Buy Audius (AUDIO)

Over 400 million subscribers across the world are using music streaming services, allowing these services to generate nearly $17 billion in 2021. Yet, industry critics are concerned that artists aren’t fairly compensated for their work. Musicians and even some politicians argue that performers and songwriters are missing out on a chance to earn deserved profit.

This is where Audius comes in. This crypto-powered streaming and music protocol strives to offer artists more control and power over how their work is monetized, allowing them to connect with their fans directly.

Audius is an interesting non-financial crypto app. Being open-source, it is managed by a community of developers, artists, and their fans. In July 2021, it surpassed over 5.3 million unique consumers, increasing greatly from 2.9 million at the beginning of 2021.

What is Audius?

Established in 2018, Audius is an open-source and decentralized music streaming service with a social media element. It enables musicians to upload their music to the app and connect with their fans, offering them exclusive new music.

In technical terms, Audius is a blockchain protocol that allows artists to produce unchangeable and time-stamped evidence for their art, protected by a decentralized network of node operators. Initially, Audius was created on an Ethereum sidechain called POA Network but later migrated some parts to the Solana blockchain. Developers are able to design their apps on top of Audius, allowing them access to an original and unique audio catalog.

As opposed to the majority of blockchain projects, Audius isn’t too concerned about being technical so that crypto laymen are left out. In the words of the platform’s co-founder, using Audius isn’t much different from using Google, Facebook, Soundcloud, or other services.

How does Audius work?

Audius works as a music cooperative. Its native token, AUDIO, regulates incentives across three groups that help the network function: node operators, musicians, and fans. As Audius is blockchain-based, it works via a decentralized network of nodes that host content (called content nodes) and nodes that index the content (discovery nodes).

The platform is powered by AUDIO, an Ethereum-based token that has three primary functions: network security, exclusive features, and governance. Regarding the first function, node operators take tokens in order to run a node while receiving rewards in return. In terms of the second duty, artists receive premium features by staking the token. Lastly, those staked tokens are necessary to vote on proposals that may change the code and the entire network.

However, you don’t need much crypto and blockchain knowledge to take part in Audius. This is one of the reasons why the platform is so popular outside the crypto community.

What makes Audius special?

Being blockchain-based is one of the primary features that make Audius different from other streaming platforms. Artists are able to upload their work for free and users can listen to it with no subscription costs. At the same time, both parties are earning crypto.

Audius doesn’t have a vetting process, so anyone can start out as an artist and upload their work. As such, it may serve as a safe haven for those who may make music that could be censored.

The lack of centralization, however, makes it a bit difficult to enforce copyright protection at the moment. However, the protocol is working on building an arbitration system that consists of community members that will decide to remove specific content.

Where can you buy Audius?

If you are interested in Audius and would like to add AUDIO to your crypto portfolio, the first step is to find a trustworthy crypto exchange that has the AUDIO crypto coin listed. Finding a reliable cryptocurrency exchange is essential, because you don’t want your data to be compromised. Not to mention that you’re also risking your funds, so you should do adequate research before choosing an exchange.

To start trading with CEX.IO, you need to create an account first. The registration process is fast and straightforward, requiring you to provide your name and valid email address. As soon as your account is verified, you’re ready to start trading.

On CEX.IO, the process of purchasing AUDIO is identical to that of buying BTC to USD or any other cryptocurrency. The whole process takes just a few simple steps, so you will have the crypto tokens in your balance in minutes.

What is the best way to buy crypto?

On CEX. IO, there are several straightforward ways that allow you to buy crypto. No matter if you’re a veteran trader or you’re just entering the world of crypto, you can take advantage of them all.

The fastest way to buy Ethereum or buy Bitcoin instantly is via the Instant Buy product. Similarly, if you’re a mobile app user, you can buy and sell crypto using the Buy/Sell feature. Please note that in order to use these options, you need to add your credit or debit card (VISA or Mastercard) to your CEX.IO account.

Experienced crypto enthusiasts who want more control over their trading may consider the trade orders option. Mobile app users may benefit from the Exchange feature. These two options allow you to exchange crypto for fiat and crypto for cryptocurrencies.

In terms of payment methods, CEX.IO accepts several:

Now, how to buy Audius cryptocurrency?

How to buy AUDIO with a credit card in the USA

Possibly the fastest and best way to buy AUDIO online in the USA is placing a market order. The purchase process requires you to complete a few simple steps.

  • Click on Spot Trading on the CEX.IO website
  • In the search bar, type AUDIO to find it
  • Click on the AUDIO/USD pair
  • Scroll down and click on the Market tab
  • Enter how much USD you’d like to spend
  • Click on Buy now to finish the purchase.

This way, your order will be placed instantly, so AUDIO will be added to your portfolio within seconds.

If you prefer having more control over your trades, you can opt for the limit order. This option allows you to set the price at which you’d like to purchase AUDIO. As soon as the token reaches your preferred price, your order will be executed.

Please note that limit orders aren’t placed immediately. The reason for this is the crypto you would like to trade may take time to reach the price you set.

How can you store your AUDIO tokens?

Now that you have learned how to buy Audius coin, you should think about where to store it. Whenever you purchase crypto, unless you plan to sell it soon afterward, you might think about the safety of your coins.

Keeping AUDIO in your CEX.IO account is acceptable, however, you might want to consider obtaining a crypto wallet, as this makes sure your coins or tokens are completely secure. The CEX.IO Wallet does not only store your tokens for you, but it also allows you to monitor and manage your portfolio.

Can you earn crypto on CEX.IO?

In addition to crypto trading, you can earn passive rewards with CEX.IO by staking and saving crypto, and joining the Affiliate Program.

Staking crypto with CEX.IO enables you to earn up to 23% interest. The staking process is simple and requires you to do very little. Simply choose one of the 14 designated tokens or coins, buy or deposit them, and hold them in your balance. The more crypto you hold, the more you will earn.

Saving crypto is similar to staking — again, transfer or buy crypto, keep it in your balance, and earn interest.

If your friends are interested in crypto as well, you can invite them to register on CEX.IO via your referral link. For all trades they make, you will earn 30% commission.