How to Buy $MERL Tokens

This guide will show you how to buy $MERL tokens using Gate.io, a trusted exchange platform with over 12 million active users. It supports over 2000 cryptocurrencies with a user-friendly interface and strong security features. We chose Gate.io for its support of major fiat currencies,  high liquidity, and  KYC compliance. Trading fees are set at 0.20% for both makers and takers.

Buy $MERL!

New users can earn up to $277 as a welcome bonus after signing up. Plus, users can qualify for additional rewards for holding the native token, GT. Gate.io also offers users opportunities to earn passively through its staking initiatives that currently deliver a yield of 0.87% for $MERL tokens. The platform also includes advanced features like 125x leverage for high-risk trades and various bot trading options to help users optimize their potential returns.

The following are the steps for buying $MERL tokens on Gate.io:

Step 1: Visit the official Gate.io website and log in to your account. If you don’t have an account, sign up to get started.

Step 2: Once you’re logged in, hover over the “Trade” tab in the top navigation bar.

Step 3: In the dropdown, move your cursor over “Spot” to open a sub-menu. Use the search bar to type “Merlin” and select the MERL/USDT trading pair.

Step 4: On the right side of the trading interface, find the Buy/Sell panel. Here, you can choose between placing a “Limit” or “Market” order.

Step 5: In the “Amount” field, enter the quantity of MERLIN you wish to buy. Alternatively, you can specify the amount in USDT in the “Total” field. Use the slider for quick adjustments if available.

Step 6: After reviewing all the details, click on the “Buy MERLIN” button to place your order.

Fees When Buying Merlin Chain Tokens On Gate.io

Gate.io applies a flat 0.20% trading fee to both makers and takers. For example, buying $100 worth of $MERL would cost you $0.20 in fees, leaving you with $99.80 in tokens. But if you hold Gate.io’s native token, GT, you qualify for a discounted rate of just 0.09%. On the same $100 trade, that lowers your fee to just $0.09, helping you retain more of your investment.

How to Transfer $MERL to a Web3 Wallet (MetaMask)

Merlin Chain users often move their tokens from centralized platforms to Web3 wallets for enhanced control and to interact with early-stage dApps on the network.

To manage $MERL with full control, users typically transfer their tokens into MetaMask or another EVM-compatible wallet. This requires manually adding the Merlin Chain network by entering its RPC URL, chain ID, and network name.

Add Merlin to MetaMask

Download MetaMask for your device

After configuration, your wallet will support sending, receiving, and holding $MERL. You can also use it to connect with dApps and services across the Merlin Chain ecosystem.

Step 1: Click on the “My Account” icon at the top-right corner of the Gate.io homepage.

Step 2: From the dropdown menu, select “Assets”, then click on “Withdraw” to open the withdrawal page.

Step 3: In the “Coin” field, search for and select MERL from the list.

Step 4: Under the “Withdraw To” section, paste your Merlin-compatible wallet address into the “Address” field.

Step 5:In the “Network” field, choose “Merlin Chain” as the network to transfer funds.

Step 6: Enter the amount of Merlin you want to transfer in the “Withdrawable Amount” field. Once all details are confirmed, click “Withdraw” to complete the transaction.

To track your transfer, just paste the transaction ID (TXN ID) into Merlin Blockchain Explorer. As soon as the blockchain confirms it, your $MERL tokens will appear in your Web3 wallet. It’s a quick way to stay updated and make sure everything went through successfully.

Buy $MERL!

Merlin Chain Explained

Merlin Chain is one of the emerging Bitcoin layer 2 projects aiming to extend the capabilities of the Bitcoin network without altering its core. Built by Bitmap Tech and launched in early 2024, Merlin leverages technologies like ZK-Rollups, decentralized oracles, and on-chain fraud proofs to deliver faster and cheaper transactions. Its goal is to breathe new life into Bitcoin by making it more accessible for developers and users alike.

At the heart of the ecosystem is $MERL, the native utility token used for governance, staking, transaction fees, and collateral. $MERL also enables user participation through rewards and validator delegation, making it a vital part of Merlin’s long-term growth.

Bottom Line

Merlin Chain is an emerging force in the Bitcoin Layer-2 narrative, designed to bring programmability and scalability to BTC without compromising on security. With a focus on zkRollup technology, it’s aiming to unlock new use cases for Bitcoin beyond HODLing. Whether you’re collecting $MERL or preparing to explore its DeFi stack, understanding how to interact safely with the network is key to making the most of this new frontier.

FAQs

1. What is the Merlin Chain token used for?

$MERL is the native utility token of the Merlin Chain ecosystem. It’s used for transaction fees, staking, governance, and incentivizing network participation.

2. Is MERL the official token of Merlin Chain?

Yes, MERL is the official native token used across the Merlin Chain for all on-chain operations and incentives.

3. Can I use MetaMask to buy or store MERL tokens?

Yes, if you’re using a bridged version (e.g., MERL on BNB Chain or Ethereum), you can store and trade MERL via MetaMask. Make sure you’re on the correct network.

4. Do I need BTC to buy Merlin Chain tokens?

Not necessarily. While Merlin Chain is Bitcoin Layer 2 focused, $MERL is typically available for purchase via USDT, ETH, or other stablecoins on exchanges.

5. Can I stake MERL tokens?

Yes, staking opportunities are often available through Merlin Chain’s own dApps or supported exchanges. Check official announcements for live pools and APY.