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How to buy Saitama Inu (SAITAMA)
SAITAMA is a relatively new crypto asset, which means that it is not yet listed on popular exchanges like Coinbase or Binance. In order to buy Saitama Inu from any country, you will need to either buy it from a decentralized exchange like Uniswap, or a global centralized exchange like Gate.io.
We recommend using a centralized platform like Gate.io because the fees are generally cheaper and the user experience is a lot smoother. The guide below is an overview of how to onboard with their platform.
- Buy Tether (USDT) from your local exchange with fiat money (USD, EUR, AUD)
- Sign up to Gate.io (no KYC or verification required)
- Send your Tether (USDT) from your local exchange wallet to Gate.io
- Find SAITAMA in their cryptocurrency list
- Swap USDT for SAITAMA
What is Saitama Inu?
The Saitama Inu (SAITAMA) token is built on the Ethereum blockchain, which means it is an ERC-20 token. The SAITAMA token has a deflationary burning mechanism that taxes every SAITAMA coin transaction 2% - which then gets burned. This design is intended to protect the coins value and reward long term holders who continuously build a larger percentage holding.
The SAITAMA coin is also intended to be the main medium of exchange for the communities upcoming NFT marketplace. Investors will also earn a percentage of the fees earned on this NFT platform.
Saitama Inu Staking
The only way to earn a yield with staking your SAITAMA tokens is by providing liquidity to decentralized exchanges. We recommend providing liquidity to the SAITAMA/ETH pair to earn 0.25% in trading fees on the SushiSwap DEX.
We estimate that liquidity providers on SAITAMA/ETH earn roughly 52% APY from staking their tokens on DEX's like SushiSwap.
How much Saitama has been Burned?
It remains unclear exactly how much Saitama Inu has been burned since the inception of the coin. The last known correspondence from the team stated that they had burned 54% of the total supply as of August 2021.
Saitama Inu Price Prediction
The SAITAMA token is purely speculative at the moment as there are no cashflows or utility value coming from any product. The Saitama Inu team does note on their roadmap that these cashflows will be real in future after the release of their NFT platform, however they have yet to make any substantial progress.
Final Thoughts
The Saitama Inu token is an interesting experiment in deflationary economics. As the coin continues to gain traction, we believe that there will be more liquidity available and thus higher returns for stakers. Although there are no cashflows currently, we anticipate that the Saitama Inu team will be able to deliver on their roadmap and create real value for holders of SAITAMA tokens.
We believe the coin has potential for high returns but also poses a significant risk. As such, we recommend doing your own research before investing in SAITAMA.
