What is SPELL and How to Buy it with a Credit or Debit Card Instantly? 

SPELL is the native token of the Abracadabra.money, a decentralized finance protocol that utilizes interest-bearing tokens (ibTKNs) acquired through staking to mint Magic Internet Money (MIM), a USD-pegged stablecoin. 

It serves two functions: governance and reward. SPELL holders can vote on proposals that affect the Abracadabra.money ecosystem. Additionally, network participants can earn this cryptocurrency by providing liquidity or borrowing on the Abracadabra.money platform. 

Read on to learn more about SPELL, and how to buy it with a credit or debit card instantly on CEX.IO. 

SPELL: Technical details

SPELL is an ERC-20 token built on the Ethereum blockchain, which allows it to be interoperable with other tokens built on the same standard and wallets. 

Its native platform, Abracadabra.money, supports bridges to other blockchains like Fantom and Avalanche, which are also available on our platform. This functionality allows participants to transfer their SPELL tokens and potentially interact with the Abracadabra platform across multiple chains. 

The total supply of SPELL amounts to approximately 196 billion tokens, with 107 billion tokens currently in circulation, leaving roughly 45% of the supply unallocated.

SPELL's Role in MIM Liquidity and Incentives

Abracadabra's yield farming opportunities allow users to potentially earn rewards in SPELL tokens by providing liquidity for specific cryptocurrency pairs. Participants deposit equal amounts of two cryptocurrencies into a liquidity pool on Abracadabra.money, thus potentially increasing the liquidity available for trading those digital assets. 

In return for providing liquidity, users receive LP tokens representing their contribution to the pool. 

Like CEX.IO, which allows customers to stake crypto and potentially earn rewards by contributing to supported blockchains, Abracadabra.money users can lock up their LP tokens in a designated smart contract on the blockchain. By staking their LP tokens, network contributors can earn SPELL tokens as a reward over time.

Disclaimer: SPELL is currently not available for staking at CEX.IO. Please conduct thorough research and check for stackable tokens before engaging in CEX.IO staking service. 

Where can I buy SPELL?

SPELL is readily available on CEX.IO, offering a comprehensive crypto-oriented ecosystem catering to novice beginners and experienced crypto aficionados. Once registered and verified, our customers receive a free online crypto wallet, allowing them to seamlessly store, trade, buy and sell crypto, including SPELL. 

In addition to SPELL, our members can access over 200 cryptocurrencies, including:

• Major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH)
• Altcoins: Cardano (ADA), Solana (SOL), Binance Coin (BNB) 
• Stablecoins: Tether (USDT), United States Dollar Coin (USDC)

Those interested in acquiring alternative cryptocurrencies can explore our guide on how to buy altcoins and store them safely on the CEX.IO wallet. 

Note: Due to regulatory requirements, the availability of certain cryptocurrencies on CEX.IO may vary depending on your location. Before purchasing any cryptocurrency on CEX.IO, it's crucial to conduct thorough research to understand the associated risks and suitability for your trading goals.

How to buy SPELL on CEX.IO with a credit or debit card?

CEX.IO offers its customers multiple avenues to acquire SPELL, as well as other cryptocurrencies listed on our platform. Eligible participants can buy Abracadabra's native token through Instant Buy, or our intuitive mobile app for crypto transfers, tailored for iOS and Android smartphones. 

Our streamlined Instant Buy service offers a hassle-free way to obtain SPELL by linking your credit or debit card. Here's how to do it: 

1. Log in to your CEX.IO account and navigate to Instant Buy.
2. Select SPELL from the list of available cryptocurrencies.
3. Pick the fiat currency you wish to use to acquire SPELL (USD, EUR, GBP).
4. From the Add Funds page, click Select Payment Method and choose credit/debit card
5. To help encourage a positive purchasing experience, please conduct a personal risk assessment, and verify all transaction details before moving forward.
6. Complete the purchase.

Disclaimer: The availability of payment methods for purchasing cryptocurrency on our platform may vary depending on your location. Before engaging in any transactions, we highly recommend researching the available payment methods in your region and ensuring they align with your financial situation and risk appetite. 

FAQs

How to track the price of SPELL? 

Curious participants can monitor SPELL's real-time value through our live crypto charts. These charts offer insights into SPELL's performance, including price fluctuations, current market value (market cap), and trading activity over the past 24 hours. 

Can I buy SPELL in the U.S.?

Currently, SPELL token purchases are unavailable for our U.S.-based clients due to regulatory concerns. However, we offer a diverse selection of over 30 U.S.-supported cryptocurrencies, including established leaders like Bitcoin and Ethereum. For U.S.-based users who might be interested in learning how to buy stablecoins, like USDT and USDC, we offer comprehensive manuals for purchasing tokens with USD value correlation on our platform. 

What is the CEX.IO crypto card? 

Verified members in the EEA can apply for the crypto card through their iOS and Android mobile apps. This functionality enables cardholders to spend their digital assets directly at online and brick-and-mortar stores worldwide.