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How to buy STEPN (GMT) crypto in India

By November 30, 2022May 11th, 20236 minute read

What is STEPN?

STEPN is a move-to-earn application built on the Solana blockchain. Be it walking, jogging, or running, STEPN rewards its users for taking steps. It is a web3-enabled fitness application with gameFi and socialFi elements that aspires to motivate people to adopt better lifestyle habits while achieving carbon neutrality. 

The STEPN platform works by allowing its users to buy NFTs, like sneakers, that last for a specific time. It was created by an Australian fintech firm, Satoshi Labs, and came into the limelight after it bagged the first place in Gaming Track at the Solana IGNITION hackathon. It was praised for its unique design, straightforward user interface, built-in marketplace, and vision to get non-crypto users to adopt the application. 

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The STEPN ecosphere offers its users two tokens, the Green Satoshi Token (GST), the games utility token with an unlimited supply, and GMT, which is the governance token, having a maximum supply of 6 billion. GST doesn’t require investments other than one’s time and effort, whereas GMT can be purchased or burned to access the features supported by the project. One can upgrade high-quality gems, mint high-value sneakers, and earn the rights to participate in the project’s governance.

Why buy Stepn (GMT)?

As an application that lets one earn by keeping oneself fit, STEPN has already become popular in the blockchain community. STEPN has two to three million active users on the app every month, and ever since it got exposure at the Solana Hackathon in October 2021, tens of thousands of new users have been joining the app each day. 

The tokenomics of the GMT token are as follows: 30% of the GMT token distribution is reserved for move-to-earn rewards, 30% is kept in an ecosystem fund, the development team holds 14.1%, while 16.3% and 7% are reserved for private sales and public sales, respectively.

Interested people can use STEPN’s free trial and its features. Once they feel they are ready to commit, they can purchase the STEPN footwear, which is necessary to begin earning GST. 

However, for GMT, there are no such prerequisites. It can be easily traded using major exchanges like WazirX. The GMT coin price skyrocketed 34,000% between 9th March 2022 to 19th April 2022 from $0.01 to $3.45. It is currently ranked in the top 75 cryptocurrencies by market cap. Even with substantial competition from other move-to-earn applications, STEPN remains the prime choice of users all across the globe. 

GMT is thus an excellent choice to invest in if your goals align with the vision of the application and match your financial goals. 

How to Buy STEPN Coins in India?

If you are wondering how to buy Stepn (GMT) coin in India, then WazirX can be your best choice. You can buy Stepn (GMT) coin in India via WazirX, India’s most trusted cryptocurrency exchange, by following the few simple steps listed below:

#1 Sign Up on WazirX 

To begin with, create an account on WazirX by clicking here.

#2 Fill in the Required Details

Put in your email address and choose a secure password. 

#3 Email Verification and Account Security Setup

Next, verify the email address by clicking on the verification link you received in your inbox. Following that, you have two options to ensure the security of your account – the authenticator app and mobile SMS. 

Remember that the authenticator app is more secure than mobile SMS because there is a risk of delayed reception or SIM card hacking.

#4 Choose Your Country and Complete KYC

After selecting your country, complete the KYC process. Without completing your KYC verification, you can not trade peer-to-peer or withdraw funds on the WazirX app. 

To complete your KYC, you need to submit the following details:

  • Your full name as it appears on your Aadhaar or any other ID proof
  • Your birth date as stated on your Aadhaar or any other ID proof
  • Your address as it appears on your Aadhaar or any other ID proof
  • A scanned copy of the documents
  • A selfie of yours to finish the procedure

And you are done creating your account! Within 24 to 48 hours, the account is usually validated.

Buy Stepn (GMT) on WazirX via P2P

WazirX allows you to check the Stepn (GMT) coin price in India before you proceed to buy Stepn (GMT) crypto via WazirX. Check Stepn (GMT) coin price in INR on WazirX here. You can buy Stepn (GMT) using USDT.

To buy USDT, you can use the WazirX P2P route. This is fast, secure and free. Follow these simple steps to buy USDT and then your Stepn (GMT) crypto: 

  1. Log in to your WazirX account on the web/mobile app and select “P2P” from the “exchange” option. 
  1. Next, click on the ‘Convert INR into USDT’ option. 
  1. Add the INR price at which you want to purchase USDT. Next, add the number of USDT tokens you want to purchase and click on “BUY”. Here, the minimum purchase should be 14.5 USDT. 

Once you click on the buy button, WazirX will match you with sellers. However, if you wish to purchase the USDT from a specific seller, you can add the XID of that person and complete the transaction.

  1. You need to select a preferred mode of payment next. UPI and IMPS modes are the two options available. Please note that IMPS linking is mandatory on the WazirX platform; however, UPI linking is optional.
  1. Once you confirm and click on the message “YES, I WILL PAY’, you will get 60 additional minutes to complete your payment. In case of non-payment, once confirmed, a minimum penalty of 10 USDT or 1.2% of trade will be levied. False confirmations can also cause your account to get locked. 
  1. Complete the payment as per the payment details on the screen (seller’s bank/UPI details). Once the payment is complete, upload the payment proof and click on the checkbox “I HAVE PAID”.  

Once the seller confirms the receipt of payment, your order will be marked complete, and the USDT purchased will be reflected in your “funds”. 

  1. Now you can use this newly acquired USDT balance to purchase GMT crypto on WazirX. Go to the “exchange” option on the web/mobile app and select Stepn crypto from the list of the tokens available in the USDT market.  All price charts, order book data, and an order input form are visible on the right side of the screen. 

Fill out the buy order form and click on buy GMT token. Wait for some time. It will only be a short while before your order is executed. Once it’s done, you will receive the Stepn coins you purchased in your WazirX wallet.

Learn how to buy crypto safely and securely via WazirX P2P:

Future of STEPN 

Since its launch on 9th March 2022, the token has been 2592 times over its opening price of $0.13. This figure shows a promising uptrend for the coming future of STEPN. The STEPN (GMT) token price prediction for the end of 2022 is set at $4.39, with an estimated upswing of 30%. It is expected to trade above a price barrier of $4.50 throughout 2023.  The STEPN (GMT) token price prediction for 2025 suggests that in early 2025, the coin will break through the $6 mark. 

For 2030, the STEPN (GMT) token price prediction shows a potential rise of 429% from now and might be trading at a price of $17.84.

Keep in mind that the crypto market is extremely volatile, and these figures should not form the sole basis of determining your purchases. Head over to WazirX to know the current GMT coin price and the most recent crypto trends.

Happy Trading!

How Cryptocurrency Works?

Cryptocurrencies use cryptography technology to keep transactions and their units (tokens) secure. Cryptocurrency works via a technology called the blockchain. A blockchain is a decentralized technology that handles and records transactions across numerous computers. The security of this technology is part of its value.

Is Bitcoin And Cryptocurrency The Same Thing?

Bitcoin is a cryptocurrency that was designed to facilitate cross-border transactions, eliminate government control over transactions, and streamline the entire process without third-party intermediaries. The absence of intermediaries has resulted in a significant reduction in transaction costs. Satoshi Nakamoto, the creator of Bitcoin, created the first cryptocurrency in 2008. It began as open-source software for money transfers. Since then, plenty of cryptocurrencies have emerged, with some focusing on specific fields.

How Safe Are Cryptocurrencies?

Cryptocurrencies can be safe, but your crypto wallets can be hacked if proper security steps are not performed.There are also dangers and uncertainties associated with investments, and we cannot declare any virtual currency investment risk-free. Buying and selling cryptocurrencies does not have to be dangerous if the trader is well-versed in the market and treats his coins with care.

Is Cryptocurrency Legal In India?

In India, cryptocurrencies are legal; anyone can purchase, sell, and trade cryptocurrencies. They are currently unregulated; India does not have a regulatory framework in place to regulate its functioning. According to the Ministry of Corporate Affairs (MCA), companies must now declare their crypto trading/investments during the financial year, according to the Ministry of Corporate Affairs (MCA). Cryptocurrency transactions have been taxable in India when people receiving such gains are Indian tax residents or where the crypto is considered to be domiciled in India

Is Pi Cryptocurrency Safe?

Pi Network (PI) is the newest digital token to catch the cryptocurrency community's interest, even before it has wholly debuted. Some users see it as a chance to get engaged in a cryptocurrency from the beginning and profit in the future, similar to how early Bitcoin adopters made huge profits by mining and keeping the coin. Other users have compared Pi to a worthless multi-level marketing (MLM) scheme.

How To Invest In Cryptocurrency Stocks?

Cryptocurrency can be purchased in two ways: through mining or exchanges. The process of confirming and adding transactions to the blockchain public ledger is known as cryptocurrency mining. Cryptocurrency exchanges are another option. Exchanges make money by charging transaction fees, but there are alternative platforms where you may communicate directly with other cryptocurrency traders.

Is Crypto Legal In India?

Cryptocurrencies are legal in India, and anyone can purchase, sell, and exchange them. It is currently uncontrolled, as India lacks a regulatory structure to oversee its operations. Per the Ministry of Corporate Affairs, companies must now record their crypto trading/investments within the financial year. In cases where a person receiving the gains is an Indian tax resident, or the cryptocurrency is regarded as domiciled in India, cryptocurrency transactions have been taxable in India

What Is Crypto?

Crypto or a cryptocurrency is a digital currency protected by cryptography, making counterfeiting and double-spending nearly impossible. Blockchain technology is used to produce cryptocurrencies (a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are distinct in that a government does not issue them. The word "cryptocurrency" refers to the encryption methods employed to keep digital currencies and the network secure.

How To Invest In Cryptocurrency?

There are two ways of investing in cryptocurrency, mining and via exchanges. Cryptocurrency mining is considered the procedure of verifying and adding transactions to the blockchain public ledger. Another option is via cryptocurrency exchanges. Exchanges generate money by collecting transaction fees, but there are alternative websites where you can interact directly with other users who want to trade cryptocurrencies.

Can I Invest In Cryptocurrency?

Yes, with exchanges like WazirX, you may invest in cryptocurrency in India. To begin, go to the WazirX website and register. After that, you will receive a verification email. The link received by verification mail will only be available for a few seconds, so make sure you click it as quickly as possible. This will successfully verify your email address. The following step is to set up security, so choose the best solution for you. After you've set up the security, you'll be given the option of continuing with or without completing the KYC process.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
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