Table of Contents
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.
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:
- Log in to your WazirX account on the web/mobile app and select “P2P” from the “exchange” option.
- Next, click on the ‘Convert INR into USDT’ option.
- 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.
- 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.
- 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.
- 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”.
- 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!
Frequently Asked Questions
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.
Which Cryptocurrency Is Best To Invest In 2021?
Many altcoins are flourishing to invest in. Some cryptocurrencies with great potential are Ether, Ripple, Tron, and more. Investors are trying to diversify their portfolios and are flocking to the leading cryptocurrencies. Many growing businesses are already accepting cryptocurrency as acceptable payment methods.
What Is Virtual Currency?
Virtual currency is a type of uncontrolled digital currency that can only be used online. It is exclusively stored and transacted using designated software, mobile or computer applications, or unique digital wallets, and all transactions are conducted through secure, dedicated networks. Because digital currency is just currency issued by a bank in digital form, virtual currency is not the same as a digital currency. Virtual currency, unlike ordinary money, is based on a trust structure and cannot be issued by a central bank or other banking regulatory organization.
Is Mining Cryptocurrency Legal?
Cryptocurrency mining can be time-consuming, expensive, and sporadically profitable. Mining has an appeal for many cryptocurrency enthusiasts as miners are paid directly with crypto tokens for their efforts. The legality of cryptocurrency mining is dependent on where you live. In India, there is no restriction on crypto mining.
Is Cryptocurrency Banned In India?
No, cryptocurrency is not banned in India. India has seen its ups and downs in the crypto sector concerning its legal status. The Reserve Bank of India (RBI) issued a circular in April 2018 advising all organizations under its jurisdiction not to trade in virtual currencies or provide services to assist anyone in dealing with or settling them. A government committee proposed outlawing all private cryptocurrencies in mid-2019, with up to ten years in prison and severe penalties for anyone dealing in digital currency. The Supreme Court overruled the RBI's circular in March 2020, allowing banks to undertake cryptocurrency transactions from dealers and exchanges.
Are Cryptocurrencies Legal In India?
In India, cryptocurrency is legal, and anyone can buy, sell, and trade it. Because India lacks a regulatory system to regulate its operations, it is presently uncontrolled. According to the Ministry of Corporate Affairs, companies must now document their crypto trading/investments inside the financial year.
What Is Cryptocurrency?
A cryptocurrency is a digital currency secured by encryption, due to which chances of activities such as counterfeiting and double-spending taking place get close to impossible. Cryptocurrencies get created on blockchain technology ( a distributed ledger enforced by a distributed network of computers). Cryptocurrencies are unique in that they do not get issued by any central authority. The term "cryptocurrency" comes from the encryption techniques used to keep digital currencies and the network safe.
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
Are Cryptocurrencies A Good Investment?
Cryptocurrency has the potential to make you extremely wealthy, and the potential to cause you to lose your money. Crypto assets, like any other investment, come with many risks and potential rewards. Fundamentally, cryptocurrency is an excellent investment, particularly if you want to gain direct exposure to the demand for digital currency.
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.
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.
