What are NEAR Protocol and NEAR?
NEAR Protocol and NEAR are related, but they are not the same thing. NEAR Protocol is the network, while NEAR is the native token used within it.
On the network, NEAR is used to process transactions, store data, transfer value between NEAR applications and accounts and support network security through staking.
How to buy NEAR Protocol in the UAE
Here is the basic flow in the Crypto.com App:
- Sign up and verify your identity.
- Add funds to your account.
- Head to the trading screen, select NEAR Protocol and complete your purchase.
Before you confirm, review the order details so you are clear on the amount and any costs shown.
Ways to fund a NEAR purchase
You can fund your account for NEAR with a bank transfer in AED, a SWIFT transfer in USD, a debit or credit card (Visa or Mastercard), Apple Pay, Google Pay or crypto deposited from another wallet. Bank transfers in AED and SWIFT transfers in USD are free on Crypto.com.
The minimum amount needed to buy NEAR Protocol on Crypto.com is 10 AED. This means you can buy a small fraction of NEAR Protocol rather than a whole token.
Can you use Crypto.com App Staking with NEAR?
NEAR Protocol (NEAR) is supported in the Crypto.com App's Staking feature. To use it, go to Menu > Staking, choose NEAR Protocol, enter the amount, review the Staking Terms and Conditions and Privacy Notice and submit the request.
Eligibility varies and is subject to account verification and eligibility. Reward rates are not guaranteed and may change depending on network activity. Crypto.com deducts a 35% service fee from NEAR staking rewards. Crypto.com does not impose a minimum staking period or fixed term. Supported blockchains may impose minimum bonding or unbonding periods.
Staking rewards, fee reduction, and other benefits referenced in this article may be subject to eligibility requirements, token holdings, and may change at the discretion of Crypto.com.