Elongate is a BEP20 token that runs on Binance Smart Chain Network (BSC). The first Elongate was minted in April 2021. The Chief Operations Officer (COO) of Elongate is Hasan Aziz along with Alexander Gambon as Chief Brand Officer (CBO). Elongate is a ‘meme coin’ that means it gets its origin from a meme. Elongate was minted after Tesla’s owner and founder Elon Musk jokingly tweeted on Twitter saying “If there’s ever a scandal about me, *please* call it Elongate” on 25 March 2021.
So, Elongate got its name from a tweet by Elon Musk, due to so much hype and attention within three days of existence Elongate’s value was increased by 1000%. We all know that Dogecoin is also a meme coin and one of the main reasons it got so much hype was also Elon Musk, but what makes Elongate different from Doge is that the Doge is an inflationary token which means that there is no maximum limit on the circulation of the coins in the market. Such coins could not keep up with their value because the supply sometimes overflows the demand especially when the coin itself is promoted by celebrities like Elon Musk and Snoop Dogg.
Whereas, Elongate is a deflationary token where there is a maximum supply of 1 quadrillion. The developers of Elongate burn the coins at regular intervals, this keeps the value of coins because the supply always keeps drowning.
Even though Elongate was inspired by a meme, one of the main goals of the organization includes working and donating to social causes. Every time a transaction takes place 10% of the fee is rewarded to the holders. Part of this revenue is donated to charity and social impact movements. Since Elongate was founded, within a year the organization has donated more than 3700000$ to charities. The organization believes in #CryptoUnited stating that the profits generated should be used for the people who need it the most.
As of June 4, 2022
Elongate is priced as:
1 Elongate = $0.0000000176
Market supply = 495,667,862,347,622
Market Cap – 8,733,667.73
Burned – 504.33 Trillion
How to buy Elongate?
Elongate cannot be bought directly from cash therefore you need to trade your owned cryptocurrencies with Elongate. The best method is to own some BNB which is a native token of the Binance. And because Elongate is also a BEP20 token you can easily replace it with Elongate.
There are two methods listed below through which you can easily buy Elongate.
Method 1: Using Trust wallet
- Install Trust Wallet
The first thing you will need is a Trust wallet. Trust wallet is one of the most widely used digital wallets. It is used to store and buy digital assets. Install trust wallet the app is available on Google Play Store and Apple App Store. Create your account on Trust wallet.
Using Trust wallet you can directly buy BNB, so buy some BNB first. You can select the exact amount of BNB you need to buy in exchange for your money.
- Transfer BNB to Binance Smart Chain
After you buy some BNB, the native BNB token is always the BEP2 token. In order to get Elongate, you need to convert the BEP2 token to BEP20. To do so just tap on your BNB and a few options will open up. Just select Binance Smart Chain and now your token will be transferred to Binance Smart Chain. After the transfer is done you can see in your wallet that now you own some BNB on Binance Smart Chain. The ratio of BNB to Smart Chain is 1:1 means the value of both tokens will remain the same even after swapping. The total amount of tokens that you’ll receive will be equal to the number of tokens you sacrificed.
- Connect your Trust Wallet with Pancake Swap
The next thing to do is to swap your tokens, for that you need a swapping platform. Connect pancake swap with your trust wallet. Open Pancake Swap and add a wallet. Copy your digital wallet address from Trust wallet and paste it on Pancake swap. Then your digital wallet will be connected to pancake swap.
- Swap tokens
Lastly, you need to exchange your BNB with Elongate. Select BNB in the ‘From’ section and select Elongate in the ‘To’ section. If you can’t find Elongate directly on the Pancake swap all you need to do is to copy the Elongate token address and paste it into the Pancake swap section.
Elongate Token Address 0x2A9718defF471f3Bb91FA0ECEAB14154F150a385
Once you paste this address you’ll see Elongate, select it. Then select the exact amount of BNB you want to give up. Once you’re satisfied with all the information move ahead and press ‘swap’.
As of June 4, 2022
0.00000000005909 BNB = 1 Elongate
Now, go back to your trust wallet after the transaction has been successful, refresh it and you can see your Elongate on the trust wallet.
Method 2: Using EG Swap
If you want, instead of using some third-party exchange platform you can use the one made by the developers of Elongate, especially for Elongate. This platform is called EG swap. EG swap can be easily accessed through the web. Here you can swap BNB with Elongate.
- Get BNB
The first thing you need to do is to own some BNB, as mentioned above BNB can be bought from Trust wallet or any exchange platform for cash. However, that’s not the case with Elongate and you cannot buy Elongate for cash. After you own some BNB you need to have all those BNB in a digital wallet. It is preferable to use Metamask.
- Open EG Swap
To use EG Swap just open this link :
https://elongate.cc/swap/ now,
You’ll see a button saying ‘connect wallet’
Connect your digital wallet where your BNB is stored. You can choose from Metamask, Binance Chain and Wallet connect.
Lastly, you need to select the amount of BNB you’re willing to exchange with Elongate. Select the amount and tap ‘Swap’ now your BNB will be replaced with Elongate and transferred back to your digital wallet.
Winding up, Elongate is amongst one of the fastest-growing cryptocurrencies even when it got its name and recognition from a meme. The market is always speculative and unpredictable but the reason to invest in Elongate is the goal that is in the minds of the developers of Elongate. Instead of taking up all the profits, the developers donate up to 80% of the revenue to charity and social causes. They’ve gathered hundreds of volunteers all around the globe that work for the benefit of society. You can help in donations by contributing to Elongate charity wallets.
https://www.elongate.cc/social-impact Elongate accepts payments in terms of cryptocurrencies as well as USD. This alone can be a good reason to invest in Elongate.
However, investing in any cryptocurrency comes with a risk of loss. But if you want to invest in crypto while also trying to help for social causes investing in Elongate is the best idea.
