Want to jump straight to the answer? You can buy ARK on Binance.
Acting as the framework of the ARK Core network, Ark attempts to make blockchain technology more appealing and easier to access for developers looking to implement their own projects within the network. Our guide will help you learn a little more about Ark, what makes it unique and how you can add its coin offering, ARK, to your cryptocurrency portfolio.
- What is Ark?
- Brief History of Ark
- How to Buy Ark
- See All 10 Items
What is Ark?
Ark is a cryptocurrency project that allows any users on the network to develop and implement their own blockchain. Each blockchain created using the Ark platform is fully customizable and interoperable, which reduces the need for smart contracts because each individual developer can implement their own programming languages, logic and transactions. Ark aims to make blockchain technology more accessible to developers by providing users with the “ARK Core” backbone framework. Using Ark Core as a backbone, users can develop their own branching projects without worrying about implementing solutions for the basics of peer-to-peer transactions.
Brief History of Ark
Originally developed in 2016, Ark launched its governance coin, ARK in 2017 at an entry price of about $0.06 per coin. Interest in the project quickly peaked, rising to an all-time high value of $9.99 per coin in January of 2018, along with a renewed investor interest in the cryptocurrency market as a whole. Since this time, interest in Ark has largely fallen off — but a new surge of renewed investor confidence occurred in 2021, rising to a price of about $2 per coin in April of 2021.
How to Buy Ark
- Open an online account.
Before you can buy or sell ARK, you need to open an account with a cryptocurrency broker that supports ARK trading. If you’ve ever traded stocks before, you’ll already be familiar with what a broker does. After opening your account, your crypto broker will help you set up a trading platform that you can use to place buy and sell orders for different types of crypto. Depending on the broker you choose, your platform might offer a straightforward, simple buying experience or a wide selection of tools that you can use to analyze the market before you place your trade. After placing an order, your broker will take care of executing the order and depositing your coins into your account, typically in exchange for a small fee.
- Buy a wallet (optional).
If you plan on holding your coins for a significant period of time, you should open a private wallet to hold your ARK outside of your exchange account. There are 2 major types of cryptocurrency wallets:
Hardware wallets. Hardware wallets are USB-like devices that keep your coins and tokens safe using “cold storage” that doesn’t need to connect to the internet.
Software wallets. Software wallets are desktop or mobile applications that store your coins and tokens using “hot storage” that must be connected to the internet in order to view and manage your holdings. Though software wallets are free, they don’t provide you with as high of a level of protection as hardware wallets. - Make your purchase.
After you know how you want to store your coins and your account is fully funded, place a buy order to purchase Ark. Though the specific steps that you’ll go through will vary depending on your broker, you can usually expect the following basic stages:
Step 1: Search for Ark. Ark trades under the ticker “ARK.” Search for it on your broker’s platform.
Step 2: Decide how many coins you’d like to buy. Use the current market rate to determine how many coins you’re comfortable investing in.
Step 3: Select your order type. There are multiple types of crypto orders and the order type you choose will determine how much you’ll pay for your investment and when your broker will fill the order. If you aren’t familiar with the many order types, you might want to explore them a bit more before you start investing. You can view an explanation for some of the most common types of orders here.
Step 4: Double-check your order details. When you’re sure that all the details of your order are correct, submit the order to your broker.
When your broker is able to fill the order according to your specifications, you’ll see your ARK in your brokerage account. From here, you can transfer your coins to your private wallet if you so choose.
Bonus:
Ark developers have confirmed that their team is continuing to work towards the release of MarketSquare beta, which will be a full-service platform that users can take advantage of to connect with blockchain developers directly. It’s possible that the full release of the first edition of MarketSquare can drive up the price of Ark’s governance token, especially if it’s a user success.
Best Crypto Exchanges
Best Crypto Wallets
Below, you can browse a few of our favorite options you can use to store ARK in a private wallet with your own set of keys.
Best Hardware Wallet: Ledger Nano S
Some hardware wallets cost upwards of $100, which may not be practical for investors who only own a small amount of crypto. The Ledger Nano S is a safe, sturdy and affordable option for new investors looking for a one-stop-shop to store all of their investments. Simply download the ARK Ledger app and effortlessly transfer your coins to your Nano S wallet. In addition to ARK, the Ledger Nano S also supports more than 1,500 ERC-20 tokens and 27 independent blockchain projects, ranging from Bitcoin to Ethereum. The device also ensures that only you can access your investments with its certified secure chip that retains your personal keys.
- Best For:ERC-20 tokensVIEW PROS & CONS:securely through Ledger Hardware Wallet's website
Best Software Wallet: ARK Desktop Wallet
If you’re searching for a convenient and free way to store your ARK, consider downloading the official Ark Desktop Wallet for your coins. The Ark Desktop Wallet is a multi-asset crypto wallet designed to provide automatic integration with any ARK-based cryptoasset. In addition to automatic Ark integrations, the Ark Desktop Wallet also allows you to track how your holdings are changing in value over time, access multiple wallets through a single account and customize your layout. You can even install plug-ins to extend the usage of your wallet — download multiplayer games, tools and more with just a single click.
Trade, Sell or Convert your ARK
When you see your ARK in your brokerage wallet, you’re officially the newest investor in the Ark project. Now, you’ll need to decide how you want to earn a return on your investment. Most crypto investors earn a return on their initial investment using 1 of 3 major methods:
- Trading. If you’re interested in capitalizing on short-term ARK price movements, you may want to become an active trader. Active traders strategically convert their ARK to a currency that holds its value (like USD Coin or Tether) when the price of ARK is high. Then, when the price of ARK falls again, active traders convert their stablecoin holdings back to ARK with the goal of accumulating more ARK.
- Selling. If you don’t want to take an active role as a trader, you may want to hold onto your ARK until the price has risen to a level where you can make a significant profit on a single trade. If you plan on becoming a long-term holder, you’ll usually want to store your coins in an off-exchange private wallet. This helps ensure that your investment is safe in the event that your broker is targeted during a hack.
- Converting. Depending on where you’re storing your coins, you may have the option to convert your ARK into a smaller coin or token offering that isn’t yet widely available on exchanges. Converting is supported on a broker-by-broker basis, and the investments that you’ll have access to when converting will vary depending on which investments are supported by the broker.
Current Crypto Prices
Cryptocurrency prices are constantly moving and changing, and smaller crypto offerings like ARK might show even more volatility. Some of the factors that influence how the cryptocurrency markets move may include:
- Market announcements. When a new partnership or endeavor is announced by a coin’s developers, you can expect the price of the coin or token to rise.
- Supply and demand. There is a limited number of ARK coins in circulation. The more demand there is for ARK, the more you’ll need to pay per coin.
- The overall state of the economy. When traditional markets (like the stock market) are down, investors tend to turn to alternative investments like cryptocurrency. These conditions can raise the price of each coin.
Get an idea of how the market is moving today with the chart below.
Is Ark a Good Investment?
Though investor interest in Ark has seen a revival beginning in 2021, it’s important to remember that the price of the network’s coin is still down more than 68% from its highest value. If you do plan to invest in ARK, be sure that you add it to a fully diversified portfolio of both traditional and alternative assets to protect your initial investment as much as possible.
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About Sarah Horvath
Sarah Horvath is a prominent freelance senior copywriter renowned for her expertise in cryptocurrency. As one of the leading voices in the industry, Sarah’s insightful analysis and comprehensive understanding of cryptocurrency trends have made her a sought-after contributor to major finance sites. With a focus on providing clear, accessible information, Sarah empowers readers to navigate the complex world of cryptocurrency with confidence. Her dedication to delivering high-quality content has established her as a trusted source for cryptocurrency enthusiasts seeking valuable insights and guidance.