Berachain has become the latest sensation in the crypto markets because of its unique properties like PoL consensus which allows stakers to earn both governance rights as well as extra passive income.
If you are looking for easy ways to make crypto passive income, follow this guide to buy BERA in two easy ways.
What is Berachain and Why is it So Popular?
Berachain is an EVM identical blockchain working on the novel Proof of Liquidity Consensus Mechanism. The blockchain has its own complete ecosystem of tokens like BERA (native token), BGT (governance token), and HONEY (stablecoin). Further, it provides a ready-to-use DEX, DeFi Protocol, and a dApp store from the Berachain team.
Fundamentals
The unique proof of liquidity consensus helped Berachain acquire liquidity in times of scarcity and ensure that all transactions were executed without any delay or slippage on Berachain.
Another benefit of using this consensus mechanism is that Berachain can provide this liquidity for a fee and earn revenue on this. This extra revenue can help Berachain survive uncertain situations or help it subsidize user fees just like the BNB Chain.
A staker or a validator at Berachain not only gets to participate in its governance but also can earn a few extra cents on the dollar based on their amount. As a result, Berachain was able to generate a TVL of $4 billion within 1 month of being launched.
Do you know these 8 features that every expert looks for while evaluating a dApp?
These strong fundamentals are helping Berachain get one of the highest inflow rates in the crypto markets.
Two Super Easy Ways to Buy Berachain
There are multiple ways to buy Berachain from the markets, DEXs, or a platform of your choice. Oftentimes, a single platform offers all of these like Binance.
Centralized Exchanges
You can use cash transfer apps or credit cards to buy BERA off any exchange directly. This is perhaps the easiest way to buy BERA. With the US government loosening strict Biden-era restrictions around top exchanges, you can choose any of them such as Binance, Coinbase, OKX, Kraken, or Gemini.
Steps to buy BERA from an CEX
- Ensure you have sufficient funds in your wallet or limit on your card. Sometimes exchanges impose a minimum buy limit of $10.
- Sign up with any exchange of your choice, create a profile and do the KYC.
- Once approved, buy a nominal amount of BERA with any payment option.
- Complete the transaction and you will see the purchased BERA in your wallet.
Decentralized Exchanges
Using a Decentralized Exchange to buy BERA can be challenging for a beginner but it is rather easy to learn and is explained below in simple steps.
Steps to buy BERA from an DEX
- Create a Web3 wallet like MetaMask or Trust Wallet. You can choose a wallet of your own choice.
- Ensure there is at least enough ETH to buy BERA and cover the gas fees. If you are swapping any other token, ensure there is at least $10 worth of ETH to cover gas expenses. Typically it costs below $1 but there could be a surge in fees during rush hours.
- Once done, visit any DEX like Uniswap or a DEX aggregator like 1inch by your choice.
- Connect your wallet. Typically this button should be on the top right.
- Once done, enter your desired BERA token amount and swap.
- Sign the transaction with your wallet to finalize it.
- You will find BERA tokens in your Web3 wallet within a few minutes.
