How to Buy Somnium Space Cubes (CUBE)

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Contributor, Benzinga
January 25, 2022

Want to jump straight to the answer? You can buy CUBES on Gemini.

As crypto continues to take the world by storm, decentralized blockchain games have grown in popularity. More individuals are expressing interest in virtual realty (VR) games. Thanks to blockchain technology, people can now interact with digital assets in these environments, such as buying and selling digital real estate. 

Some individuals think this is absurd and that it’s a massive bubble waiting to burst. Others believe crypto is the most revolutionary technology of this lifetime and will completely change the future of society. 

What is CUBE?

Somnium CUBES (CUBE) is the in-game currency for the Somnium Space metaverse. CUBE is built on the Ethereum blockchain using the ERC20 token standard. 

Somnium Space is a virtual reality (VR) metaverse that allows users to buy digital land, homes and other in-game assets of value. Users are also able to build and monetize their own environment in the metaverse. Somnium Space is currently available on all major VR headsets.

So far in its development, Somnium space offers four elements: the creation and customization of avatars and property, virtual reality experiences, a builder module for environments and structures and a non-fungible token (NFT) marketplace. This NFT marketplace allows users to bring NFTs from around the decentralized ecosystem into the Somnium Space universe. 

Brief History of CUBE

The project was launched in August 2018 by a team based in the U.K. Since its release, Somnium Space has built a VR world with a blockchain-based economy. CUBE saw its all-time high of $28 in November 2021.

How to Buy CUBE

You can buy CUBE on Gemini. A digital asset exchange like Gemini is a great choice for individuals looking to start buying cryptocurrency. Because of its volatility, do your own research before buying cryptocurrency.

  1. Open an online account.

    The first step to purchasing your CUBE is to open an account with an exchange like Gemini. Before you begin trading, you will be required to verify your identity. This process involves stating your legal first and last name and uploading your government ID and a photo of yourself.

  2. Buy a wallet (optional).

    You can choose two paths to store cryptocurrency: software wallets and hardware wallets. 

    - A software wallet is an application on your computer or mobile device. 
    - A hardware wallet is a special type of wallet that stores the user’s private keys in a secure hardware device — keeping your private key information off your computer and on the external device. 

  3. Make your purchase.

    Once you have created your account, you need to link a funding method to transfer money to your account. The most common methods are debit or credit cards as well as direct bank transfers. Once you have linked a payment method, you can begin purchasing CUBE.

Best Crypto Wallets For CUBE

Best Hardware Wallet: Ledger

Ledger is the most recognized hardware wallet currently available. The device is primarily an offline hardware wallet. Ledger also connects to Bluetooth and USB, depending on whether you want to use your computer or mobile device. Ledger’s application also makes it much easier to secure, store and manage your assets. 

Best Software Wallet: Trust Wallet

As a decentralized mobile software wallet, Trust Wallet does not hold your funds, keeping everything on the blockchain. The best part is that Trust Wallet encrypts all its users’ personal information and keys. 

Bonus section: Keep an eye out for future partners with the Somnium Space as it may lead to new development opportunities. 

Trade, Sell or Convert your CUBE

Once you have accumulated some CUBE, you can trade, sell or convert it for another crypto of your choosing. 

The process of selling usually involves liquidating your crypto with the goal of exiting that position. An alternative to selling would be to convert to another crypto, which can be done through a variety of decentralized exchanges (DEXs). Essentially, instead of selling your crypto for fiat, you can convert your CUBE to another crypto and receive the same dollar-value amount of that crypto. Trading, on the other hand, is the process of actively trading based on market structures and indicators with the purpose of making profits. 

Current Crypto Prices

Sentiment in the market has started to shift, as bluechip cryptos like Bitcoin and Ethereum continue to fall in price. Some analysts claim that we are entering a bear market, which may lead to years of consolidation. The following weeks will be crucial in determining future crypto prices. 

Is CUBE a Good Investment?

For individuals looking to invest in Ethereum metaverse projects with a mid- to long-term return on investment (ROI), Somnium Space may be a great investment for you. For traders looking to make quick profits, CUBE may not be the best choice given the current market conditions. Make sure to do your own research before purchasing crypto, as it is a volatile asset. 

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