Why buy Phala with Kraken?

About Phala

What can you do with Phala?

Swap Phala for other assets

Learn more about Phala

1. How does Phala work?

   Unlike traditional currencies, Phala is not issued or maintained by a centralized government entity. Instead, a decentralized network of computer nodes is responsible for maintaining Phala. This decentralization means the holders and users of Phala can help to maintain the network.

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2. Where can I buy Phala?

   Most find that the easiest and most secure way to purchase Phala is through a reliable cryptocurrency platform like Kraken. While Phala can be purchased using several different methods, Kraken offers the security, support and simplicity people often look for when buying cryptocurrencies like Phala.

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3. How much does it cost to buy 1 Phala?

   At the current market rate, it costs $0.19 to purchase one PHA. Kraken makes it easy to buy & sell Phala with confidence.

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4. Can I buy $100 worth of Phala?

   Yes, Kraken offers a secure and easy to buy $100 worth of Phala. At its current price, $100 equals 532.82 PHA.

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5. Is Phala safe to buy?

   The Phala price can change dramatically based on market conditions. You should do your own research on Phala before buying.

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6. Is Phala available to buy and sell in my country?

   To find out if Kraken offers Phala in your region, please check our Support article to see what cryptoassets are available in your country.

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7. Is Phala a good investment?

   The short answer is, it depends on your own individual circumstances and risk tolerance. For those that see a long term prospect behind decentralization, Phala may be a worthwhile purchase.

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8. Can I purchase Phala using my local currency?

   Kraken supports six different government-issued fiat currencies including:

   • US dollars (USD)
   • Euros (EUR)
   • Canadian dollars (CAD)
   • Pounds sterling (GBP)
   • Swiss franc (CHF)
   • Australian dollar (AUD)

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9. What are the transaction fees for buying Phala?

   Kraken offers a competitive fee structure based on transaction size, asset, payment method and market conditions. Learn more about Kraken’s fee structure.

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10. What is the minimum amount of Phala I can buy?

    You can buy as little as $10 worth of Phala on Kraken. Kraken also allows you to set up recurring buys (charges apply) so you can continuously accumulate small amounts of Phala regularly.

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11. Can I buy Phala with a debit card?

    You can buy Phala using a debit card certain regions on Kraken. Learn more about our Supported currencies and payment methods here.

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12. Can I buy Phala with other cryptocurrencies?

    Yes, Kraken makes it easy to purchase Phala using hundreds of other cryptocurrencies. Browse the Phala markets available on Kraken to see how much it costs to buy Phala with other cryptocurrencies.

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13. How can I keep my Phala safe?

    While we believe the safest place for your crypto is in your own cold wallet, we strive to be as transparent and secure as possible when you trust us with your Phala. When you choose to keep your Phala on Kraken, it is secured by our globally-recognized security standards.

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14. Will I owe taxes when buying and selling Phala?

    Each country handles cryptocurrency taxes differently. It’s recommended you speak with a local professional tax advisor before making any digital asset purchases or reporting your crypto taxes.

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15. Can I transfer Phala from Kraken to my crypto wallet?

    Yes, the Phala you buy on Kraken is yours. Kraken makes it easy to withdraw your Phala to any hot wallet or cold wallet that supports Phala. Simply enter the external wallet address and your Phala will be in your wallet a few moments later.

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16. Is it safe to leave my Phala on Kraken?

    We take every measure possible to keep the Phala you choose to leave on Kraken secure and accessible to you. While we still believe the safest place for your crypto is in your own cryptocurrency wallet, we constantly strive to be as transparent and secure as possible when you trust us with your Phala. Learn more about our globally-recognized security standards.

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17. What is the current circulating supply of Phala?

    The current circulating supply of Phala is 768,373,798 PHA.

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