How to Buy Blur (BLUR)

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Contributor, Benzinga
February 21, 2023

Want to jump to how to buy BLUR? You can buy BLUR on OKX and KuCoin.

If you are a non-fungible token (NFT) trader or enthusiast, you’ve likely heard of Blur, the innovative NFT marketplace and aggregator that has taken the Web 3 world by storm with its unparalleled trading features and recent crypto airdrop.

The following discussion will guide you through everything you need to know about Blur, how to buy its native token BLUR and explore whether it's a lucrative investment option in today’s fast-paced crypto market. 

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

What is Blur?

Blur is an NFT marketplace and aggregator offering users the ability to acquire NFTs from various platforms, trade them without incurring fees and manage their NFT portfolio with cutting-edge analytics. These capabilities have made the marketplace increasingly more attractive among savvy NFT traders and enthusiasts.

Blur is a blockchain-based platform built on Ethereum, aiming at enhancing NFT trading experiences and maximizing profit. In comparison to rivals like OpenSea and LooksRare, Blur has a more advanced feature set, featuring real-time price feeds, intuitive price-based sorting, faster NFT sweeps and zero trading fees.

Additionally, Blur serves as an aggregator that can connect to OpenSea, X2Y2 and LooksRare. This feature allows traders to manage their NFTs and carry out transactions across multiple platforms from one location, streamlining the trading process. Furthermore, Blur’s unique portfolio tab enables traders to keep track of their digital assets by providing vital data about the NFTs' rarity, value and profit and loss.

Brief History of Blur

Blur is a marketplace designed to cater to the needs of professional Web 3 traders, founded in October 2022 by pseudonymous Web 3 developer Pacman. It achieves this objective by addressing key pain points for active traders such as slow processing times, subpar user interfaces and insufficient analytical tools that are common on popular NFT trading platforms

Since its launch, Blur has received funding from multiple venture capitalists, including Paradigm, and has showcased exceptional performance in the market by surpassing $400 million in trading volume in the first quarter of 2023. 

In February 2023, Blur announced an official airdrop of BLUR – the eagerly anticipated native token, which offers governance functionality with a capped maximum supply of three billion. Of the total supply, 12% is reserved for airdrop holders, 78% is allocated to two lock-up contracts and the remaining 9% is held in a multi-sig wallet under the control of the team.

How to Buy BLUR

Purchasing BLUR is a breeze and can easily be done on popular centralized exchanges such as KuCoin, Coinbase or Kraken. To buy BLUR online, follow these steps.

Step 1: Open an online account

The first step is to create an account with a reputable exchange like OKX or KuCoin, where you’ll need to comply with the U.S. Securities and Exchange Commission (SEC) know-your-customer (KYC) guidelines by providing identification information. 

It's considered best practice to compare the features, trading fees and selection of cryptocurrencies available on each exchange before making a choice, as they may differ across platforms.

BLUR can also be bought via a decentralized exchange (DEX) such as Uniswap or SushiSwap by connecting their crypto wallet, which removes the need for KYC. However, it’s worth highlighting that using DEXs can be more complicated, particularly for those new to the industry. 

Step 2: Buy a wallet (optional) 

Although not mandatory, acquiring a crypto wallet to ensure the secure storage of BLUR is strongly recommended. 

The two types of crypto wallets are software and hard wallets. The question of which is the best type of wallet is subjective, as they both offer unique features. Software wallets, which are connected to the internet, are accessible through different mediums such as apps and web browsers, providing convenience and user-friendliness. 

Conversely, hardware wallets are physical wallets that store a user’s private keys offline. While they are less accessible than software wallets, they are more secure since they're not connected to the internet, making them less susceptible to cyber-attacks.

Best Hardware Wallet: Ledger

The Ledger brand of hardware wallets, including the Nano X, Stax (now open for pre-orders), and Nano S Plus, is trusted by millions worldwide for its unparalleled protection of digital assets. Users can store over 1,800 tokens, including BLUR and all ERC-20 tokens, and enjoy tamper-resistant Common Criteria EAL5+ certified Secure Element chips for maximum protection.

Best Software Wallet: Trust Wallet

Trust Wallet is an industry-leading software wallet that offers a secure solution for trading, storing and collecting an exhaustive collection of cryptocurrencies and NFTs. Acquired by Binance in 2018, Trust Wallet has gained the confidence of millions of users globally by providing seamless access to a vast range of 250,000+ crypto assets across 65 blockchains. With its broad reach and solid reputation, Trust Wallet is a fantastic choice for all types of investors.

Step 3: Make your purchase

Once you have an exchange account and a crypto wallet, the next step is to trade or swap for BLUR through the exchange’s trading platform.

Trade, Sell or Convert your BLUR

If you’re looking to exchange BLUR for other assets, you can use two options: swapping and trading. Swapping refers to the act of exchanging one currency for another, while trading involves purchasing and selling assets to earn a profit through various types of orders.

Here's a brief overview of the most common order types:

  • Market order: An order that executes immediately at the best available price in the market
  • Limit order: An ​​order that executes only when the target price is reached
  • Stop order: A type of order that is designed to minimize losses in trading by becoming a market order and executing at the current market price when the stop price is reached

Current Crypto Prices

The cryptocurrency market is a volatile landscape where prices soar and plummet in the blink of an eye. Its highly speculative nature causes the market to sway under the influence of investor sentiment. 

To stay informed, keep tabs on the latest market trends and price movements. Below is a table of the most recent crypto prices. 

Is Blur a Good Investment?

Blur is a thrilling and innovative project that has the potential to transform the NFT marketplace through its unique suite of trading features. If you believe Blur can surpass competitors like  LooksRare and OpenSea in the future, then it may be a wise decision to establish a position over the coming months.

However, it's important to note that investing in cryptocurrency carries a notable amount of risk because of its speculative nature and uncertain regulatory future. It’s paramount to complete due diligence and evaluate your risk tolerance before investing. 

Moreover, it’s worth noting that investment in crypto carries an extremely high risk from the speculative nature of cryptocurrency and its uncertain regulatory future.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts
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