How to Buy GNO with a Credit or Debit Card

Gnosis is a blockchain platform designed to expand the utility of the Ethereum ecosystem. It encompasses a variety of open-source, decentralized finance (DeFi) products, such as Gnosis Safe (wallet) and Gnosis DAO (a decentralized autonomous organization for community governance). 

Users interact with the Gnosis ecosystem through GNO. This token can be used for staking on the Gnosis Beacon Chain, and voting within the Gnosis DAO. In this guide, we explore Gnosis and how to instantly buy GNO on CEX.IO with a credit or debit card. Read below for more. 

What is GNO?

GNO is the governance token for GnosisDao. It allows holders to vote on proposals and potentially influence the platform's development. 

Additionally, users can stake GNO on the Gnosis Chain, potentially earning rewards through: 

• Yield farming
• Borrowing
• Compounding

Participants can stake their GNO tokens through liquid staking services, thus receiving a liquid derivative token, sGNO. This represents the user's staked GNO, but in a tradable form. It also allows stakers to use sGNO in other DeFi applications, like lending or liquidity pools, while still having the chance to earn crypto staking rewards in the form of rGNO.  

Users can convert their staked GNO (sGNO), as well as reward GNO (rGNO), through the staking app provided by the network. However, navigating a separate staking app can be a hurdle for beginners, especially when dealing with unfamiliar interfaces and potential conversion complexities.

The merge between the Gnosis Execution Layer and Gnosis Beacon Chain should simplify the process. Once the merge is fully implemented, converting sGNO and rGNO back to GNO is expected to become a smoother experience within the network's wallet and user interface, making it more accessible for beginners.

For those looking for a more intuitive route to potentially earn crypto rewards, CEX.IO offers a staking program. While GNO is not currently available for staking on our platform, enthusiasts can explore a variety of other stake-able tokens, including Solana, Tezons, and Tron. 

How does Gnosis work?

Gnosis was created by Martin Köppelmann and Stefan George in 2015. It was first launched under the ConsenSys incubator, a blockchain technology company that fosters and supports the development of new projects focused explicitly on the Ethereum ecosystem. 

However, after the crowdfunding event 2017, the protocol built its own blockchain and separated from the Ethereum network. 

Origins

Gnosis started as a decentralized prediction market platform on the Ethereum blockchain. Their goal was to utilize blockchain technology to create a more efficient and transparent system for predicting various events.

Current State

Gnosis has evolved into a broader ecosystem offering various infrastructure products for DeFi applications.

The blockchain aims to tackle challenges developers face when starting on a new platform. It offers clear documentation, tutorials, and tools to minimize the initial learning curve. This could allow developers to build DeFi applications more efficiently.

The platform's core offering is Gnosis Chain, a decentralized blockchain network compatible with the Ethereum Virtual Machine (EVM). This allows developers to build DeFi apps (e.g. Gnosis Safe and Gnosis Pay) that can also interact with Ethereum applications. 

As a result of this compatibility, Ethereum developers can easily migrate or branch their existing projects onto the Gnosis Chain. This could help network participants save development time and potentially reduce costs associated with transaction fees on the Ethereum mainnet.

How to buy GNO with a credit card

Eligible customers can buy crypto, including GNO, with their credit card through Instant Buy. This feature also allows interested enthusiasts to buy Ethereum, Bitcoin, Solana, and over 200 other digital assets listed on our exchange for those seeking to expand their portfolio. 

To become eligible for purchases via Instant Buy, users must first register and verify their accounts. For a quick and straightforward verification process, please visit this guide. Once the necessary verification steps are completed, participants can enjoy fast and convenient purchases. Here's how to buy Gnosis cryptocurrency through Instant Buy: 

1. Log in to your account.
2. Navigate to Instant Buy from the dashboard.
3. Choose the fiat currency you wish to use for the purchase. Available currencies are USD, GBP, and EUR. 
4. Select GNO from the list of supported coins and click Buy Crypto Instantly to proceed to the Add Funds page.  
5. On the right-hand side of the Add Funds page, enter the amount you wish to spend on acquiring GNO. You can also elect from predefined allotments. 
6. Locate Select Payment Method and, from there, choose credit/debit card as the preferred funding method. 
7. Enter your card number, expiration date, and CVV. Click Add Card to link your credit card to your CEX.IO wallet. 
8. Complete the purchase by entering the one-time password (OTP) or approving the transaction through your bank app. 

How to buy GNO with a debit card

Credit card purchases may incur annual fees, depending on the card-issuing bank. Hence, those who prefer using debit cards to buy crypto on CEX.IO can follow the steps above.  

Alternative payment methods to obtain GNO on CEX.IO

Besides bank cards issued by Visa or Mastercard, eligible participants can buy crypto with Paypal, Skrill, Neteller, Google Pay, Apple Pay, bank transfer (SEPA and SWIFT), as well as other cryptocurrencies. 

Disclaimer: Please note that some payment methods may be unavailable in certain jurisdictions. For example, U.S.-based customers cannot buy crypto with a bank account but can use PayPal for their transactions. The availability of specific payment methods is subject to regional regulations and compliance requirements. 

We recommend checking the supported payment methods for your location before initiating a transaction.

Where to buy GNO?

Curious participants can obtain GNO on various decentralized and centralized exchanges that support this cryptocurrency. Both pathways offer their own advantages and disadvantages. Purchasing GNO on decentralized exchanges is less likely to involve identity verification, which can benefit those who prefer to remain anonymous. 

However, centralized exchanges, like CEX.IO, are potentially more accessible for beginners to navigate, and provide a range of technical indicators and analysis to those looking for a more comprehensive trading experience. Additionally, centralized exchanges typically offer customer support to assist with any issues, which can be invaluable for new users. 

Ultimately, the choice between a centralized and decentralized exchange will depend on the individual's priorities, such as ease of use, privacy, and control over their assets.

Should I consider acquiring GNO?

Deciding to acquire GNO requires careful consideration of one's risk tolerance and financial goals. The cryptocurrency market is volatile, and GNO's price can fluctuate significantly. Therefore, researching the market trends and economic factors impacting GNO's value can be crucial. 

Risk-averse investors may find stablecoins, cryptocurrencies pegged to the U.S. dollar, a more suitable alternative due to their lower volatility. Those looking for a more reliable store of value can buy USDT, USDC, BUSD, GUSD, and MUSD on CEX.IO, with a variety of payment methods at their disposal. 

How to store GNO?

GNO, like other cryptocurrencies, requires a secure digital wallet for storage. Hardware wallets are one way to secure GNO holdings. These wallets keep crypto offline; however, they may involve a steeper learning curve, and potentially higher upfront costs. 

On the other hand, an exchange crypto wallet, like the one customers get for free at CEX.IO, offers convenience and accessibility. Exchange wallets are generally user-friendly and require minimal setup. They integrate seamlessly with the exchange platform, and allow for quick buying, selling, and trading GNO.

Ultimately, the best choice depends on an individual's needs and risk tolerance.

FAQ

How to track the value of GNO on CEX.IO?

Our crypto prices page provides valuable insights into GNO's current market standing. This resource allows users to track GNO's real-time price, assess its overall market size through market capitalization data, and analyze the level of trading activity over the past 24 hours. This comprehensive data hub empowers informed decision-making for those exploring GNO's potential.

Can I buy GNO in the U.S.?

Due to regulations, GNO purchases are currently unavailable for U.S. residents. However, there are still ways to get involved with crypto, as we offer a variety of alternatives for U.S. customers. U.S.-based users can seamlessly buy BUSD, BTC, and ETH through our Instant Buy or Spot Trading features. We encourage curious participants to explore our list of U.S.-supported digital assets and trading pairs. 

Can I utilize GNO Savings on CEX.IO?

While GNO isn't currently available for saving or staking on CEX.IO, we offer a wide range of alternatives. Our Savings service allows eligible users to potentially earn up to 5% rewards on various popular cryptocurrencies. Customers can buy USDC, BTC, ETH, and DOGE and deposit them in their savings accounts. We encourage interested enthusiasts to explore our selection of available assets and discover the best fit that could satisfy their risk appetite.

What is the CEX.IO Bitcoin calculator?

Interested parties looking to buy Bitcoin can explore our Bitcoin calculator, which quickly converts between Bitcoin and various fiat currencies (USD, EUR, and GBP), as well as USDT stablecoin, to inform their purchase decisions. This tool is free of charge and available to both verified customers and non-members.