Looking to buy Cartesi (CTSI) in the UK?
Just below this introduction, there’s a table with a list of some of the most popular cryptocurrency platforms where you can find it.
And below that, I’ve run through three of my favourite options.
Intro: Best Ways to Buy Cartesi in the UK
Here’s a quick overview of the best places where you can buy Cartesi (CTSI) in the UK.
|Provider||Payment Method||Trading Fees|
|Coinbase Pro||UK Bank Transfer||0.50% or less|
|Kraken||UK Bank Transfer||0.26% or less|
|CoinJar||UK Bank Transfer||1%|
|Crypto.com App||UK Bank Transfer||Variable Exchange Rate|
|Crypto.com App||Debit Card||2.99% + Variable Exchange Rate|
|BC Bitcoin||UK Bank Transfer||5%|
Scroll down to learn more about my favourite choices.
How to Buy Cartesi in the UK
Founded in 2013, Kraken is a popular cryptocurrency exchange that’s available in the UK, Europe, US, and many other countries around the world.
You can deposit GBP into Kraken for free using a UK bank transfer (via Faster Payments). However, you can’t buy Cartesi (CTSI) directly with GBP on Kraken.
This means you’ll need to:
- Deposit GBP using a UK bank transfer.
- Exchange your GBP for EUR on Kraken.
- Buy Cartesi (CTSI) using your EUR balance.
You’ll pay 0.26% in trading fees when buying Cartesi (CTSI) with EUR, but you’ll also incur another 0.2% in trading fees when exchanging GBP for EUR. This brings the total to about 0.46%.
But while it’s the lowest fee option I could find, Kraken isn’t the most beginner-friendly option on this list. There is a learning curve to using it.
Founded in 2013, CoinJar is a cryptocurrency platform that’s available in the UK and Australia.
You can deposit GBP into CoinJar for free using a UK bank transfer (via Faster Payments). Although it can take longer, my deposits have always been credited quickly.
You can then use your GBP account balance to buy Cartesi (CTSI). No messing around like on Kraken. For this, you’ll be charged a fixed fee of 1%.
Alternatively, you can use a debit card to instantly buy Cartesi (CTSI) or any other supported cryptocurrency. While simpler, you’ll be charged a fixed fee of 2% for this.
While the fees on CoinJar are higher than Kraken, it is much more beginner-friendly (with a great mobile app, if that’s what you’re after).
3. BC Bitcoin
You can buy Cartesi (CTSI) and loads of other cryptocurrencies on BC Bitcoin. Even if it’s not available via their website, you can easily get in touch with them over the phone to see if they’ll sell you a cryptocurrency that’s not listed.
BC Bitcoin supports a few different payment methods, but the most affordable option is a UK bank transfer (via Faster Payments).
You’ll normally pay 5% when buying anything that isn’t Bitcoin (BTC) with a UK bank transfer. This is quite a hefty fee compared to alternatives.
There’s also a minimum purchase amount of £250 – which doesn’t make this ideal if you just want to buy a little bit of Cartesi (CTSI).
What is Cartesi (CTSI)?
Cartesi (CTSI) is the native token for the Cartesi network, a layer-2 scaling solution that makes it easier for software developers to create and scale decentralised apps (DApps). The main purpose of the CTSI token is to strengthen the Cartesi ecosystem and to facilitate the payment of transaction fees.
The Cartesi ecosystem was created in 2018 by a team of blockchain developers that included Diego Nehab, Augusto Teixeira, Erick de Moura, and Colin Steil. Cartesi’s native token, CTSI, launched in 2020 to help secure the network and to encourage expanded use of all that Cartesi has to offer.
Here’s a quick video that explains what Cartesi does and the role that CTSI plays in the network:
Cartesi is a layer-2 blockchain solution and infrastructure that makes it easier for software developers to design a range of scalable DApps using a Linux Virtual Machine (VM).
The idea behind the Cartesi Network is that blockchain technology can’t go mainstream until there are enough developers that can use it in their projects.
With Cartesi, software developers can develop DApps with the tools that they already use in their work – so there’s no need to learn new programming languages. By lowering the barrier to entry in blockchain development, Cartesi hopes that it can help speed up the integration of DApps into our daily lives.
Additionally, Cartesi wants to solve the issue of scalability that plagues many blockchains like Bitcoin and Ethereum.
Cartesi enables developers to create highly scalable DApps through its layer-2 infrastructure, which processes energy-intensive computations off-chain to drastically reduce transaction fees. The Cartesi DApp building platform also supports multiple blockchains, giving developers plenty of flexibility in how they design future DApps.
The Cartesi Token (CTSI) is a relatively new addition to the Cartesi ecosystem. It’s an ERC-20 token whose main purpose is to “incentivize Cartesi Node operators to engage with the system honestly and in an efficient way”.
To understand what the CTSI token does, you first need a good understanding of how the Cartesi ecosystem operates.
Cartesi’s ecosystem consists of multiple parts, including:
- Cartesi Machine: This the Linux VM that powers Cartesi’s DApp building platform. It’s run by Cartesi Nodes, which processes complex computations off-chain before sending completed computation results to the blockchain for verification. This enables developers to create highly scalable DApps that feature low transaction fees.
- Noether: This is a side chain that aids the Cartesi network. It works on a Proof-of-Stake (PoS) consensus mechanism. Noether serves as an oracle that records and stores data that the Cartesi network needs to operate in the short term. When that data is no longer needed, Noether disposes of it to save space on the blockchain and to cut down on wasted transaction space.
The CTSI token plays an important role within both the Cartesi Machine and Noether.
In the Cartesi Machine, CTSI is used as collateral to promote good behaviour on the network. Within Noether, CTSI is used as part of the side chain’s PoS consensus mechanism and to pay rewards to validator nodes that help run the network.
The primary benefit of holding Cartesi (CTSI) is the potential for staking rewards.
Anyone that holds CTSI in their wallet can delegate their tokens to a CTSI pool using the Cartesi Explorer DApp. When you stake your tokens to a CTSI pool, you earn a portion of the transaction fees generated by the Cartesi Network.
There are other ways to earn rewards with your CTSI tokens. For example, you can set up your own Cartesi Node and get a higher percentage of the transaction fees that the network creates. Or, you can manage a CTSI staking pool and earn extra rewards.
Best Cartesi (CTSI) Wallets
There is no official Cartesi Token (CTSI) wallet. But you can store the keys to your CTSI in most popular ERC-20-compatible wallets, such as MyEtherWallet, Trust Wallet, and Atomic Wallet.
And if you’re interested in staking your CTSI? Take a look at MetaMask.
MetaMask is the only wallet that connects to the Cartesi Explorer staking DApp. It’s a popular non-custodial software wallet that’s available as a mobile app and a browser extension. MetaMask is compatible with all ERC-20 tokens and it’s supported by most major DApps.
What if you want to use a hardware wallet for your CTSI?
You can use the following hardware wallets to manage the private keys to your CTSI tokens:
But the only way to stake your CTSI from your hardware wallet is to connect it with MetaMask. MetaMask currently only supports Ledger and Trezor devices, so you’ll need to use one of these wallets if you want to stake your CTSI tokens and earn rewards.