How to Buy Oasis Network (ROSE)

Want to jump straight to the answer? You can buy Oasis Network on Coinbase.

As crypto has become more popular in recent years, many of the most popular blockchains are struggling to keep up with the rising demand for transactions. As a result, transaction fees have soared on many blockchains. This is where Oasis Network steps in. It has created a blockchain that it believes is ready to be scaled while still allowing for low transaction fees.

What is Oasis Network (ROSE)?

The Oasis Network is a Layer 1 blockchain made up of two components: the consensus layer and the ParaTime layer. Both layers have their own unique functions that allow the chain to be fast and reliable.

The consensus layer allows for transactions to be processed through a proof-of-stake (PoS) system. In this system, validators give some of their ROSE position to the blockchain. Once they do this, they can verify transactions and earn rewards for doing so. 

The other layer of the chain is the ParaTime layer. This layer is reserved to host the computational power needed to run decentralized applications (dApps) on the chain. Anyone can create projects on the chain. Additionally, the chain uses a trusted execution environment (TEE) that encrypts and decrypts all smart contracts before they are deployed onto the chain. This feature is meant to protect the privacy of developers.

The Oasis Network team currently has three ParaTime chains on the network. The Emerald ParaTime is an Ethereum Virtual Machine (EVM)-compatible network that allows developers to create projects with low fees and high throughput. The Cipher ParaTime is the smart contract application that is heavily privacy based. The Parcel ParaTime stores data and oversees chain governance.

The ROSE token powers the chain. It serves multiple purposes. First, it is used in Oasis Network’s PoS system. It can be staked and given as a reward, with 2.3 billion tokens out of the 10 billion supply reserved for stakers. Additionally, the token is used to cover transaction fees. The 10 billion token supply is divided into the following categories:

• 23.5% - staking rewards
• 23% - backers
• 5% - strategic partners and reserve
• 18.5% - community and ecosystem
• 10% - foundation endowment
• 20% - core contributors

Brief History of Oasis Network (ROSE)

Oasis Labs is the company that is the core developer of the Oasis Network. It was founded in 2018 by Dawn Song, a University of California, Berkeley professor. The first couple years were spent developing the network. In late 2020, the ROSE token was released to public exchanges. The project has attracted over $45 million in investment from a variety of venture capital firms, such as Binance Labs and Blockchain Capital. 

The ROSE token hit all-time highs of nearly $0.60 in early 2022. However, it is currently trading under $0.20.

How to buy Oasis Network (ROSE)

Now that you have a basic understanding of the Oasis Network and the ROSE token, you may be interested in purchasing the token. Fortunately, the process is fairly straightforward.

Best Crypto Wallets for ROSE Tokens

Best Hardware Wallet: Ledger

Hardware wallets are physical devices that store the private codes needed to send crypto. If the physical device is not present to confirm transactions, then crypto cannot be sent.

Ledger is a leading brand of hardware wallet known for its safety and usability. It currently offers Nano S and Nano X models. The Nano S offers basic features while the Nano X is designed for easier use with bluetooth connectivity and a larger screen. 

The ROSE token is not directly supported by Ledger, so you will have to combine it with a software wallet, such as MetaMask.

Best Software Wallet: Coinbase Wallet

Software wallets store private keys online. Most software wallets are either programs or Chrome extensions. Coinbase Wallet is a wallet from Coinbase that allows users access to decentralized finance (DeFi) projects.

If you are looking for an easy and quick way to obtain ROSE, Coinbase Wallet is probably the way to go. It has a smooth interface and supports hundreds of tokens.

Bonus section: Keep an eye on ROSE’s trading volume. This solid indicator of the number of users could influence the success of the project. 

Trade, Sell or Convert your Oasis Network (ROSE)

To sell your ROSE tokens, you can either convert them directly to USD or convert them to another token. To convert them to USD, use the “Sell” feature on the token’s page, which can be accessed through your cryptocurrency exchange account.

To convert to another token, use the “Convert” feature and select the token you would like to convert to. It is important to keep in mind that ROSE cannot be converted to many other tokens at this point in time. 

Current Crypto Prices

The first quarter of 2022 was one of the worst to date for the crypto markets. Major tokens slid 30% to 50% and do not show signs of slowing down. Many are wondering if we are getting close to the bottom or if further price drops are in the future.

Regardless of where the markets are going, it is important to stay updated in terms of crypto prices. Make sure to check out Benzinga’s up-to-date crypto price table to stay on top of current crypto prices. 

Is Oasis Network (ROSE) a Good Investment?

As of right now, the Oasis network is still trying to gain traction in the crypto world. It faces huge competition from the likes of Ethereum (ETH) and Avalanche (AVAX). However, if it can begin to create some real use cases, then it may be able to attract more users. If it cannot gain users, then the token may depreciate.