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Swap Spell Token for other assets

Spell Token FAQ

Learn more about Spell Token

1. How is Spell Token different from normal cash?

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

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2. Where can I buy Spell Token?

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

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3. How do beginners buy Spell Token?

   While Kraken makes it easy for anyone to buy Spell Token, beginners should first do their own research (and may consider seeking professional advice) before making decisions about whether or not to buy digital currencies. After learning about Spell Token in the Kraken Learn Center, beginners can use Kraken to buy Spell Token in moments with as little as $10.

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4. Is Spell Token available to buy and sell in my country?

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

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5. Is Spell Token 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, Spell Token may be a worthwhile purchase.

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6. Can I purchase Spell Token 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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7. What are the transaction fees for buying Spell Token?

   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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8. What is the minimum amount of Spell Token I can buy?

   You can buy as little as $10 worth of Spell Token on Kraken. Kraken also allows you to set up recurring buys so you can continuously accumulate small amounts of Spell Token regularly.

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9. Can I buy Spell Token with a debit card?

   Yes, you can buy Spell Token using a debit card on Kraken.

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10. Can I buy Spell Token with other cryptocurrencies?

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

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11. How can I keep my Spell Token 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 Spell Token. When you choose to keep your Spell Token on Kraken, it is secured by our globally-recognized security standards.

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12. Can I set up automatic recurring buy orders for Spell Token?

    Yes, Kraken makes it easy to automatically buy Spell Token on a recurring basis. Recurring buys, also known as dollar cost averaging, is a way to continuously increase your asset holdings without needing to manually place an order each time.

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13. Will I owe taxes when buying and selling Spell Token?

    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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14. Can I transfer Spell Token from Kraken to my crypto wallet?

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

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15. Is it safe to leave my Spell Token on Kraken?

    We take every measure possible to keep the Spell Token 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 Spell Token. Learn more about our globally-recognized security standards.

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16. Can I pay for online goods and services using Spell Token?

    Yes, as long as the seller is willing to accept Spell Token in return for the goods and services you are purchasing.

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17. What is the current circulating supply of Spell Token?

    The current circulating supply of Spell Token is 127,635,052,083 SPELL.

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