Purchasing a cryptocurrency with potential is the first step towards earning passive income with crypto. SOURCE is the token that fuels the ReSource network. If you aren’t familiar with the ReSource network, read this article. On this page, I will show you how to buy SOURCE on Ubeswap step-by-step.
Why Buy SOURCE?
SOURCE has potential. It’s not just a cryptocurrency on the blockchain; it has commerce around it. You can see ReSource as a mini economy on the internet where businesses obtain loans or credit, sell products or services, and make money.
As a result, SOURCE will grow. Its value depends not only on demand but also on real businesses with real customers and real products. So, even if Bitcoin and most popular cryptos go sideways, ReSource will remain and keep SOURCE strong.
What is Ubeswap?
Ubeswap is a platform where you can stake, swap, pool, and farm your crypto. It runs on the CELO blockchain and is a fork of Uniswap. You may have seen us mention Ubeswap in our yield farming guide or CELO yield farming tutorial.
Ubeswap’s mission is to increase the adoption of CELO and CELO-based or related coins by enabling users to trade on-chain and provide liquidity through their platform. It is one of the trusted platforms where you can farm your coins and do more to earn passive income.
You can purchase SOURCE on Ubeswap. However, Ubeswap is not a crypto exchange. So, you need CELO to get SOURCE rather than your fiat (USD) through your card or bank account.
How to buy SOURCE on Ubeswap
Here’s how to buy SOURCE step by step on Ubeswap.
Step 1: Open an account on Coinbase
As mentioned above, Ubeswap is not a crypto trading platform or exchange. So, we need to get CELO first. If you already have CELO, you can move to step 3 or 4.
Coinbase is one of the top crypto platforms where you can buy and sell cryptocurrencies. There are hundreds of crypto available, of which CELO is one of them. Opening an account on Coinbase is pretty easy.
Please note that you will need a government-issued photo ID to verify your age and identity. Also, Coinbase will ask to verify your phone number.
Sign up for Coinbase using this link. You will need to fill your profile which you can finish in less than five minutes. It’s simply filling in your location, email, password, and legal name.
Then, you will verify your email and phone number and add other personal information like your ID and a bank account so that you can buy and sell crypto. Depending on your country, other payment methods are allowed; US customers can add a debit card or PayPal account to buy crypto.
Sign up using this link to get $10 when you purchase $100 or more worth in any crypto.
Step 2: Buy CELO on Coinbase
Once your account opening is settled, you can buy CELO on the Coinbase website or mobile app.
If you are using the website, sign in, then click on the “Buy/Sell’ button at the upper right corner of your screen. Click on the Buy tab and select CELO by clicking on whatever crypto is selected automatically (usually Bitcoin) and scrolling to choose CELO.
Enter the amount you want in either CELO or your local currency, select your payment method, confirm and buy.
On the mobile app, look for an icon at the bottom that looks like two arrows, select buy and the crypto you want to purchase, which is CELO, enter the amount you’d like to buy, review and tap “buy now” to complete the purchase.
If you cannot buy CELO on Coinbase for any reason, like your country not being supported or you already are signed up somewhere else like Binance, that’s fine. Just follow Step 3 to send your Crypto to Metamask after purchasing CELO on your preferred platform.
If you are using Ledger, Ubeswap has a direct connection to that wallet. Valora also has a direct connection, and you can buy CELO on Valora as well.
Step 3: Transfer CELO to Metamask
If you don’t have a Metamask wallet, your first step should be downloading the Metamask extension on Google Chrome or Firefox on your computer and linking it to the CELO Blockchain. This article is a perfect guide on how to do that.
Back to this step. Now you have CELO in your Coinbase account; you can transfer it by copying your Metamask account, which is a string of numbers. You can find those numbers at the top of your screen in Metamask.
Go back to Coinbase and send your CELO to the address that you copied. Follow the steps below to do that on the website:
- Select “Pay” on the left side of your screen
- Select “send”
- Enter the amount of CELO you want to send and the crypto address you copied
- Select “Pay” and choose CELO
- Review and select “Send now”
On the Coinbase mobile app:
- Select the icon that looks like two arrows or tap “Pay”
- Tap “Send”
- Select CELO and enter the amount you want to send
- Review and confirm the details you have entered
- Enter the Metamask address and send
Before clicking on send on web or mobile, ensure that you confirm the last four digits of your Metamask address. If you send your CELO to the wrong address, it will be lost forever.
Step 4: Swap CELO for SOURCE on Ubeswap
Now that you have CELO in Metamask, you are ready to get SOURCE. Click on this link to access Ubeswap. When in Ubeswap, click on “Connect to a wallet” at the top right side of your dashboard.
Select Metamask from the options to connect your Metamask account. When done, navigate to the Ubeswap swap page. That’s on the Ubeswap menu.
Select “CELO” in the first dropdown (from) and “SOURCE” in the second dropdown (to).
Enter the amount of CELO you’d like to swap in the box under “from” or the amount of “SOURCE” you want in the box under “to”. If you want to swap all your CELO, click on “max” – don’t swap all your CELO because you need some CELO to cover transaction fees.
Click on “swap” and follow the prompts in the Metamask pop-up to approve the transaction. Note that you can always edit the transaction fees in the pop-up; for example, if the Gas fee shows up as 0.5, you can go as low as 0.1.
Once the transaction is confirmed, you will have SOURCE in your Ubeswap wallet and can then add it to a liquidity pool, farm it or bridge it. We have looked at how to yield farm SOURCE in another guide.
Until then, don’t forget to subscribe below for updates or reach out to our cryptocurrency consultant if you need any help.