How to buy Elongate crypto coin ? Is ElonGate a Good Investment?

What Is The Elongate Crypto ?

Elongate is one of the latest cryptocurrencies in the crypto market that has become quite popular. Read on to know how to buy Elongate cryptocurrency.

The cryptocurrency industry has experienced nothing short of revolution over the past couple of years, as Bitcoin, Ethereum and other popular cryptocurrencies rise in value by multiple times. Every day new crypto coins are developed, as crypto developers try to recreate the success of the original Bitcoin. While most cryptocurrencies are made to solve a problem or for a purpose, some of them are created as a joke, like Dogecoin. A new meme cryptocurrency by the name of Elongate has recently been created which has been gaining a lot of online attention. Read on to know more about Elongate and how to buy Elongate.

If there’s ever a scandal about me, *please* call it Elongate

— Elon Musk (@elonmusk) March 25, 2021

Brief History of ElonGate

ElonGate started trading on Pancakeswap in early April 2021 for about $0.000000084. The token peaked on 4/21 at a price of $0.000001000 per token, roughly a 1,200% return since the token began trading. Since then, the token has dipped back down to around $0.00000080, approximately 10 times the value of the initial trading price of ElonGate. 

Bonus Section:

Binance Smart Chain tokens are some of the most volatile investments on the market today. If you can find a winner, these tokens can appreciate over 1,000% in the matter of days. However, it’s unlikely these coins will hold their value over the long term, so be sure to have a plan in place to take profits.

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How to Buy ElonGate

1. Open an online account with Binance.

   In order to buy ElonGate or any other BEP-20 token, you’ll need to make a Binance account. If you’re from the U.S., then it may take a few days for your Binance account to be approved. If your IP address isn’t from the U.S., you can use binance.com to create an account within a few minutes

2. Once you’ve registered for a Binance account, you’ll need to buy BNB tokens. Make sure to buy as much BNB as you’d like to invest in ElonGate, as Pancakeswap uses BNB tokens to purchase BEP-20 tokens like ElonGate.

3. Download Trust Wallet or Metamask.

   A software wallet is necessary to begin trading on Pancakeswap. The best 2 cryptocurrency wallets to use with Pancakeswap are Trust Wallet and Metamask. Trust Wallet can be downloaded on iOS and Android, while Metamask can be purchased on the Google Chrome store.
   
   What’s great about Metamask is that it’s a Google Chrome extension. This makes it easy to connect your wallet to any website that supports Metamask, such as Pancakeswap and Uniswap.
   
   When you download Metamask, it’ll be set to Ethereum’s network by default. In order to configure your wallet to be interoperable with Binance Smart Chain, you’ll need to click the icon at the top of your wallet labeled “Ethereum Mainnet”.
   
   Once you click this icon, you must navigate to “Custom RPC” and enter the following parameters:
   
   Network name: Binance Smart Chain
   New RPC URL: https://bsc-dataseed1.binance.org:443
   ChainID: 56
   Symbol: BNB
   Block Explorer: https://explorer.binance.org/smart 
   
   Once you’ve entered this information, you’ll be connected to Binance Smart Chain. You can now send your BNB tokens to your Metamask wallet, and you’ll be ready to start trading on Pancakeswap’s exchange.

4. Make your purchase.

   Luckily, buying tokens on Pancakeswap is much more simple than configuring your cryptocurrency wallet to interact with Binance Smart Chain. To buy an asset, simply search for the token you want to buy. In this case, ElonGate. 
   
   The automated market maker (AMM) on Pancakeswap will quote you a price for ElonGate based on the amount of tokens you want to buy. Unless you’re buying hundreds of thousands of dollars worth of the crypto, you shouldn’t experience very high slippage rates.
   
   However, be sure to check the slippage before confirming your transaction. Slippage is the difference in value of the 2 investments, and you can set a max slippage percentage directly on Pancakeswap.

   
   
   

Where to Buy Elongate?

This new Elon Musk cryptocurrency won't be found anywhere on big Crypto exchanges like Binance or Coinbase. At least, not until it becomes very popular. However, there are still ways you can buy Elongate crypto on the internet. You can go to Binance and buy yourself some Binance Token (BNB) which will be used to trade Elongate.

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Once you have bought BNB transfer it to an external crypto wallet like Metamask or any other wallet of your choice. Finally, go to Pancakeswap and use the token address of Elongate - 0x2A9718defF471f3Bb91FA0ECEAB14154F150a385 to exchange it with your BNB that you have purchased. Stay tuned for more news on cryptocurrencies. 

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Is ElonGate a Good Investment?

ElonGate has no product nor does it provide any unique benefits to its users. The projected roadmap for ElonGate admits it doesn’t have real world use-cases. ElonGate has a roadmap on its website, and its final stage is to implement “real world use cases”. However, this is extremely vague. It’s anyone’s guess as to what this could mean.