How to Purchase BitDAO (BIT) using Sponge (OLD) ($SPONGE)

To buy BitDAO using Sponge (OLD), first, find a cryptocurrency exchange that supports the BIT/$SPONGE trading pair. Create an account, verify your identity, and deposit your $SPONGE into your exchange wallet. Locate the BIT/$SPONGE pair on the trading platform and place an order to exchange your Sponge (OLD) for BitDAO. If the BIT/$SPONGE pair is unavailable, you can first exchange Sponge (OLD) for a stablecoin like Tether (USDT) or a fiat currency, then trade that for BitDAO. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.