The crypto world is a dynamic world with revolutions coming one after another in the past few years. Bitcoin, Ethereum, and all other major cryptos have been gaining traction and seeing a boost in the prices by manifolds.
New cryptocurrencies are developed and launched almost every other day. All the crypto developers are in the race to create the same sensation and success as the original Bitcoin.
Many newly developed crypto try to solve a problem or serve a purpose. While others are created as a joke, like Dogecoin.
New meme crypto was created recently in 2021, which goes by the name ElonGate and it has been gaining a lot of attention.
What Is ElonGate?
ElonGate is new crypto that started as a joke. But that hasn’t stopped crypto enthusiasts from speculating its future. It all started with an old tweet by Elon Musk, which went like – “If there’s ever a scandal about me, *please* call it Elongate.
A fan wasted no time to set up the Elongate website just a few hours after the tweet was made. And, the Crypto started developing from that.
The ElonGate crypto is frictionless, high-yield deflationary coin. It is made on the Binance Smart Chain. The coin was made as a joke, but it developed from there and became popular on the Internet among Elon Musk’s fans. Whenever Elon Musk tweets, particularly about cryptocurrencies, the prices of ElonGate start rising.
The ElonGate website also mentions that a major portion of the 10% tax charges on transactions goes to charity. It is a deflationary coin which implies that no new coins can be mined once the limit is reached. Therefore, if the coin gains popularity, its prices will shoot up.
How To Buy ElonGate Crypto On Trust Wallet?
Steps to buying ElonGate on Trust Wallet:
Step 1: Install Trust Wallet on your device. Launch the app and create your wallet.
Step 2: Add BNB smart chain tokens to your Trust Wallet. You can either buy it or if you’ve BUSD, you can transfer it to Trust Wallet & convert it to BNB.
Step 3: Enable DApps on Trust Wallet by going to Settings → preferences → Dapp Browser → Enable.
Step 4: Open DApps on Trust Wallet and find PancakeSwap under exchanges.
Step 5: Connect your Trust Wallet with the PancakeSwap DEX. You’ll then see the BNB balance under the swap and exchange option.
Step 6: You’ll find an Exchange option for token trade in an instant. It’ll have two blocks with your BNB balance in one. The second will have a drop-down option to select crypto. Select the drop-down option and paste the ElonGate contract address here.
Step 7: You’ll see the ElonGate option. Tap on it to select.
Step 8: Now enter the amount of BNB you wish to spend to buy ElonGate. Or enter the number of ElonGate coins you wish to buy.
Step 9: Click on the “Swap” button.
Upon a successful transaction, your purchased ElonGate coins will be reflected in your wallet.
Note: Keep the number of coins low for the selected BNB to escape from transaction failure.
Also Read: How to Buy SafeMoon on Trust Wallet?
How To Sell ElonGate Crypto On Trust Wallet?
The process of selling ElonGate on Trust Wallet follows the same steps as it was for buying, except the swap here is interchanged.
Steps to Sell ElonGate on Trust Wallet:
Step 1: Open Trust Wallet.
Step 2: Go to PancakeSwap DEX and connect it with your wallet, following the same steps.
Step 3: Under the exchange option for token trade, select ElonGate in the first block using the contract address. Select BNB in the second one from the drop-down menu. Or you can select everything as when you were buying and click on the interchange arrow in the middle of the two blocks.
Step 4: Enter the number of ElonGate tokens you wish to sell and confirm the transaction.
Upon successful transaction, the ElonGate will be deducted from your wallet.
Conclusion
The ElonGate crypto started as a joke but has been among the most popular cryptos since its creation. The joke served as the foundation for its growth in the future.
ElonGate is a coin with immense potential for even more growth in the future. But since the coin has not gained enough popularity to get a place on the major crypto exchange platforms, you can only trade it.
So, Trust Wallet is a good application that can be used to access DApps for DEX and swap BNB for ElonGate.
Also Read: Trust Wallet Transaction History
Frequently Asked Questions
What To Do When The Transaction Fails?
If the transaction fails, then repeat the process and reduce the number of selected BNB tokens by 1 or 2 coins.
Where Can I Buy ElonGate?
It is not yet available on the big exchange platforms like Coinbase and Binance. But, there are other methods to buy ElonGate. You need to just buy BNB tokens and trade them for ElonGate on DEX like PancakeSwap.
