Sperax (SPA) is the native utility token of the Sperax platform, a financial platform for decentralized applications. Being traded on 17 exchanges including Coinbase and Kucoin, Sperax is attracting investors around the world.
What is Sperax?
Sperax is a cryptocurrency as well as a blockchain-based protocol that allows holders to take part in the decision-making process and earn rewards by staking. Serving the purpose of governance tokens and value accrual asset, SPA aims to revolutionize traditional finance by utilizing Defi solutions. With a total supply of 5,000,000,000, SPA has reached a market cap of $46,936,310 with an all-time high of $0.24 in March 2022 and an all-time low of $0.0033 in September 2023.
Features of Sperax
Governance
SPA tokens can be staked to participate in the decision-making process and earn a percentage of the protocol fee as a reward.
Burning mechanism
By minting and redeeming their USDs, SPA holders can earn staking rewards. The burning mechanism utilized in the platform helps to create scarcity over time. On every transaction, a certain number of tokens are burned, which in turn creates a demand and an increase in price gradually.
Liquidity
SPA tokens can be traded across Decentralized Exchange (DEX) platforms and Centralized Exchange platforms without any requirement for additional fees allowing investors to store and transfer assets. This in turn creates liquidity within the Defi landscape.
Buyback mechanism
By utilizing auto yield and fees Sperax protocol buys back SPA tokens from the open market and stores them in the wallet. This creates a balance among the number of circulated tokens in the market.
How to buy Sperax?
Buying a Sperax involves a few simple steps.
1. Choose a reliable exchange platform
Cryptocurrencies are bought from exchange platforms. Choose an exchange platform with enhanced security, privacy, and multiple currency support.
2. Create an account
Create an account on the chosen exchange platform by providing an email address, mobile number, and country you reside. Set strong passwords and two-factor authentication for additional security.
3. Verify the account
Complete the registration process by providing personal information and submitting a valid identification document.
4. Choose a payment method
Select a payment method to fund your account. It can be a credit card, debit card, bank account, or any other trusted payment method.
5. Buy SPA
Move to the buy and sell section, and choose ‘SPA’ as the cryptocurrency to buy. Choose the order type according to your market strategy.
6. Transfer to wallet
After buying an SPA from an exchange platform, it can be either stored in the exchange platform itself or transferred to a cryptocurrency wallet. Storing in a personalized crypto wallet enhances security and accessibility.
Where to buy Sperax?
Sperax can be bought from trustful exchange platforms. However many exchange platforms have not listed Sperax yet. Kucoin and Coinbase are the most popular exchange platforms to buy Sperax.
1. Kucoin
Buying Sperax in Kucoin is easy and secure. It provides fast trade service, P2P, and third-party service to buy Sperax. Kucoin offers different order types to buy Sperax including market orders for instant purchases and limit orders for buying at specific prices. High liquidity and an intuitive interface make Kucoin the best platform for buying SPA tokens.
2. Coinbase
With an intuitive interface and secure transactions, Coinbase offers quick and easy buying of SPA tokens. By utilizing the P2P and third-party services, investors can buy SPA tokens.
Where to store Sperax?
Sperax can be stored in cryptocurrency exchanges, hardware wallets, software wallets, and paper wallets.
1. Cryptocurrency exchange
SPA tokens can be stored on cryptocurrency exchange platforms, ie where you bought them from. It provides quick access to trading activities like staking and lending. Exchange platforms eliminate the hurdle of managing private keys. Protect your SPA tokens by creating a strong password and upgrading security settings to prevent hacks and unauthorized access.
2. Noncustodial wallets (hardware wallets, software wallets, and paper wallets)
SPA tokens can be transferred to hardware, software, or paper wallets for enhanced security. This gives the investor complete control over their private keys. If you are a frequent trader, hardware, software, and paper wallets are not convenient platforms to store SPA tokens. Secure your SPA tokens from unauthorized access and avoid losing access.
Sperax price prediction for 1st quarter of 2025
The first quarter of 2025 is forecasting a drop in the price of SPA tokens, with the lowest value of $0.0025339 in March and the highest value of $0.026541 in January.
| Month | Min price | Avg price | Max price |
| January | $ 0.02568 | $ 0.02618 | $ 0.026541 |
| February | $ 0.025672 | $ 0.025905 | $ 0.026535 |
| March | $ 0.025339 | $ 0.025554 | $ 0.025817 |
Is Sperax a good investment for the short term?
Analyzing the price prediction for 2024, trading is expecting a downturn toward $0.005917 by the end of the year. By analyzing the 2025 1st quarter scenario, the price is likely to fall, but not severely. Sperax price predictions do not show a steep increase or high decline in a short-term span. So it depends upon the trader to invest in Sparx for the short term. However, market volatility and associated risks can fluctuate the price leading to a huge increase or decrease in price value.
Final Thoughts
Sparx is a dual-purpose crypto token, that helps to gain power in governance and staking rewards. The native token, SPA can be bought from exchange platforms. Many exchange platforms have not listed SPA yet. However, it can be bought from Coinbase and Kucoin. The price prediction of SPA shows a decline in price value in the first quarter of 2025, but not severe. The highly fluctuating market of crypto makes things unpredictable, investors have to analyze the pros and cons of SPA tokens before buying them. Evaluate price histories and Potential Return On Investment (ROI) for better analysis.