How to Buy Burn (ASH)

Want to jump straight to the answer? You can buy ASH on Uniswap after getting ETH from eToro.

Burn (ASH) is a token of creation through destruction. For every NFT you burn, you get ashes in return. You burn art to get ashes to get art to burn art. 

Interested in ASH token but don’t know where to start? Benzinga’s review will help you understand ASH and how you can invest in the token through a decentralized exchange today. 

What is ASH?

ASH is an Ethereum based ERC-20 token. ASH is a social token created by Murat Pak, an NFT artist. It is possible to mine ASH by burning NFTs, which further depletes the remaining supply of NFTs in a collection. 

Burning refers to the act of transferring a coin, token or NFT to a burn address. A burn address is a cryptocurrency wallet that lacks private keys. As a result, anything transmitted to this wallet is unreachable in perpetuity.

Collectors who wish to receive ASH tokens just need to send their NFT to this burn address. ASH has two burn tiers, where Pak’s NFTs yield more ASH than other NFTs. If the token supply ever reaches 5 million, a halving will occur that will impact all burn tiers.

Brief History of ASH

Murat Pak created ASH token and launched burn.art in April 2021. ASH is a fair launch token that started with zero supply. Burn.art is an NFT burning platform that allows NFT owners to burn their NFTs in exchange for ASH tokens. 

Any NFT owner who visits burn.art to burn their NFTs will be asked the question, “Which do you value more, the artwork or the token?” The vision for ASH token is that someday it might take on a life of its own. Some future Pak collectors will only accept ASH tokens as a medium of exchange. 

In the 12 days since the beginning of the year, ASH is down a little over 18%. Since the beginning of September 2021, ASH is up about 12.5%. On November 19, ASH hit a high of $54.65, so to date, ASH is down over 50% from its all-time highs.

As you can see from the chart below, ASH has been loosely correlated to Bitcoin’s price action over the last two months.

Bitcoin vs. ASH 12-hour Time Frame

How to Buy Burn (ASH) Token

Anyone interested in buying ASH tokens can do so on Uniswap. Uniswap is a decentralized exchange (DEX) and has a user-friendly trading platform. 

Since Uniswap is decentralized, it will only allow transactions through the wallet you connect to the site. You will also need to have ETH in your wallet to make swaps on Uniswap.

Best Crypto Wallets For ASH Token

Best Hardware Wallet: Ledger

The best hardware wallet to store your ASH tokens is the Ledger. There are two models available, the Nano S and the Nano X. The Nano S is the less expensive of the two but does not allow you to add as many crypto apps as the Nano X does. 

Ledger takes security very seriously. Ledger wallets are the only hardware wallets on the market certified for their security by ANSSI, a French cyber security agency. The Ledger wallet also contains a certified Secure Elements chip used in credit cards and passports.

Ledger has also developed their custom operating system (OS) called BOLOS. The custom-made operating system allows for installing apps that are isolated from each other. BOLOS also keeps your 24-word recovery phrase isolated from all applications.

Another vital feature is that the BOLOS OS makes a physical confirmation for every transaction necessary. This means a hacker would have to have the Ledger in hand to complete a transaction from your wallet.

Best Software Wallet: Coinbase Wallet

The Coinbase wallet is the best hot storage wallet for storing ASH tokens. The Coinbase wallet comes as a mobile wallet and a browser extension. The Coinbase wallet supports over 4,000 different coins and tokens. It will even store your NFTs (ERC721 tokens). 

The Coinbase wallet is also one of the most secure hot storage wallets available. Secure Enclave technology protects private keys by keeping them isolated from the central processor. 

This isolation provides an extra layer of security. It is designed to keep sensitive data secure even when the Application Processor kernel becomes compromised.

Trade, Sell or Convert your ASH

When to sell out of an investment is something each investor will have to decide. If you decide it is time to sell your ASH tokens, you can either swap them back into ETH or swap them for another token. Uniswap does not provide the ability to sell them for USD, but you can swap into a stablecoin like USDC. 

Current Crypto Prices

Bitcoin Daily Chart

Since setting a new all-time high, Bitcoin has been downtrending for over two months now. In that time, Bitcoin has lost over 40% of its value. So far, the 40K level is holding, although a death cross has just occurred. It’s not uncommon to see price run-up first after a death cross before continuation of a down trend.

It’s possible Bitcoin could run up to the 200 SMA and be rejected, sending the price lower. But if Bitcoin does make a run higher and push above the daily 200 SMA, that would be a very bullish sign. It would be even more bullish if Bitcoin could push above the $52,000 level. In three previous attempts, Bitcoin has been rejected from that level. 

Is ASH a Good Investment?

Whether or not the ASH token is a good investment is difficult to determine. Unfortunately, Uniswap is the only exchange where you can buy and sell ASH tokens. Also, there isn’t a lot of liquidity for ASH tokens at the moment. 

The use case for ASH is currently limited, but if the use case expands in the future and ASH is available from more exchanges, motivation to invest in ASH should grow.