Fastest and Smartest Way to Buy Elrond (ERD)

4 min readMay 26, 2020

The Fastest and Smartest Way to Buy Elrond (eGLD)

The Elrond community is growing fast, so is the Elrond cryptocurrency demand. I will share my experience on buying eGLD (mainnet) in this article which is an updated version from ERD (ERC20) token.

After trying a couple of methods of buying eGLD through various trading platforms, I concluded that the fastest (and smartest) method is using transak.com. I received my eGLD in less than 5 minutes. How to do this:

I. Pre requisites:

1. Create a Revolut account — must be verified (KYC/AML)

- create a GBP (British Pound) account

2. Create a transak.com account — must be verified (KYC/AML)

For the verification process you’ll need:
— National ID card or Passport
— Driver’s ID card (optional)
— Utility bill for location confirmation
— Selfie
— ! important ! — when asked about your bank account — input the one created on Revolut

3. Make sure the credit/debit card you are going to use is not blocked or has a transaction limit.

II. Steps to follow on Revolut:

1. Attached a debit Card (Euro) to the Revolut account. You can use debit / credit card with any currency (RON, GBP, etc.).
2. Add money (in my case I used debit card in EUR).
4. Exchanged my EUR / RON to GBP.
5. Now I’ll have some Pounds in your GBP account

III. Steps to follow on transak.com:

1. On website choose to pay with GBP
2. For payment method choose Bank Transfer
3. Select eGLD for crypto
4. Select Buy Now

5. In the following screen insert your eGLD address (erd1…) where to receive eGLD. Select Buy eGLD.

6. Click “Confirmed” > “I Understand The Risks”

7. The buy order is displayed:
— the sum you have to pay / transfer
— the beneficiary name (Light Technology Limited)
— Account Number (00001008 — this is for GBP)
— Sort Code (04–05–41)
— Reference Code (will be unique for each client) — this is very important!!!

IV. Back on Revolut:

In payments > Bank Account > select Add Bank Account > transfer type > To a business > Country: United Kingdom, Currency: British Pound. Here insert the dates from the buying order. Don’t forget the reference code!!! Without it the transaction can’t be matched. Also, the exact sum from the buy order from transak.com should be sent.

Note: use the following Bank Address in Revolut for the Beneficiary bank address: Unit 6 Queens Yard, White Post Lane, London, E9 5EN United Kingdom

All actions on Revolut side are to be made only for the first transaction because this Beneficiary (Light Technology Limited) will be saved on the Bank transfer payments list.

V. Back on transak.com: