How to Purchase GST Cryptocurrency

What Is GST (Green Satoshi Token)? A Beginner’s Introduction

STEPN and GST: Essential Overview

STEPN is a Move to Earn app that rewards users with cryptocurrency for walking or running in NFT sneakers. By combining blockchain technology with fitness, STEPN has become a globally recognized innovative project.

To participate, users purchase NFT sneakers—not just digital collectibles, but assets paired with real activity data. As users walk or jog, the app tracks distance and speed, awarding the in-game currency GST (Green Satoshi Token). This system transforms everyday movement into direct earnings, making it truly groundbreaking.

GST rewards depend on sneaker rarity and level, as well as the user’s speed and distance. This design lets users maintain healthy habits while accumulating crypto assets. More than just a game, STEPN encourages real-world exercise, promoting both health and financial incentives as a new lifestyle app.

GMT (Governance Token): Differences and Functional Roles

The STEPN ecosystem also features GMT (Green Metaverse Token), a second major token. GST and GMT have distinct roles, supporting STEPN’s economic system:

GMT is designed as a versatile currency for the broader ecosystem, including NFT marketplaces. GST is exclusive to STEPN and tightly linked to in-app activities.

This dual-token model provides both short-term utility (GST) and long-term investment value (GMT), meeting various user needs. Beginners should start by earning and using GST, then gradually explore GMT’s advanced functions.

GST: Core Features and Applications

GST as In-App Utility Token

GST acts as a utility token within STEPN. Users earn GST by moving with NFT sneakers, which they can either sell on external exchanges or spend on in-game features.

GST is notable for its balance of “easy earning” and “practical usability.” New users can quickly accumulate GST and use it to advance in the game, resulting in a low entry barrier. This inclusive design has attracted a broad user base beyond crypto enthusiasts.

Supply and Burn (Token Destruction) Mechanism

GST is theoretically unlimited in supply, but to prevent inflation, most GST spent is automatically burned (destroyed).

This burn mechanism is critical for STEPN’s economic sustainability. When GST is used for sneaker upgrades or repair, some or all of it is permanently removed from circulation. This balances new issuance and consumption, helping maintain token value.

History shows periods of rapid user growth led to GST price drops as issuance exceeded consumption. Stable active user periods allowed the burn mechanism to stabilize prices. GST’s value is closely tied to community activity.

Key GST Use Cases (Spending Scenarios)

GST is used for various STEPN functions, including:

• NFT Sneaker Minting: Creating new sneakers from two existing pairs requires significant GST.
• Sneaker Repair: Used regularly to restore sneaker durability.
• Sneaker Level-Up: Invest GST to boost sneaker stats and increase GST earning potential.
• Gem Enhancement and Socket Unlocking: Upgrade attached gems or unlock new sockets using GST.
• Mystery Box Opening: Required to open randomly acquired boxes during movement.
• Sneaker Enhancement (Synthesis): Combine multiple sneakers to create higher-quality versions, consuming GST.

GST drives a healthy economic cycle in STEPN: “Earn by moving → spend GST to progress.” Beginners should first grasp GST as in-game currency earned through walking, then learn its varied uses.

Why You Can’t Cash Out Directly in the STEPN App

STEPN does not allow direct conversion of earned GST or NFTs into fiat currency (such as Japanese yen) within the app. This restriction is driven by technical, regulatory, and platform policy factors.

Apple Guidelines and iOS Restrictions

STEPN initially offered an in-app NFT marketplace, but this feature was removed due to risks of violating Apple and Google store policies. For a period, users had to trade NFTs on external sites via the app’s browser.

The underlying reason is strict platform payment policies. Apple and Google require all in-app transactions to use their payment systems. Direct in-app trading of NFTs or cryptoassets is considered a circumvention, risking app bans.

Consequently, blockchain apps like STEPN have adopted external wallet and exchange solutions for crypto management and cash-out, enabling regulatory compliance and user autonomy.

Adapting to Local Regulations

STEPN’s service policies vary by region to comply with local laws:

• United States: Usage by US residents is prohibited due to strict crypto regulations and SEC assessments regarding securities.

• Mainland China: Service is suspended in response to China’s crypto ban.

• Japan: STEPN is not banned domestically, but converting GST or NFTs to yen requires compliance with Japanese crypto regulations and use of registered exchanges. Japan’s clear legal framework enables lawful use with proper procedures.

These regional measures highlight STEPN’s focus on international compliance. Users must follow local laws.

Why GST Isn’t Listed on Domestic Exchanges

GST can’t be directly converted to yen on domestic exchanges due to Japan’s unique crypto regulations.

Since April 2017, exchanges offering crypto-to-yen conversion must register with the Financial Services Agency and comply with strict screening and approval requirements, including technical safety, issuer transparency, AML, market risk, and investor protection.

Game tokens like GST rarely meet all criteria, especially those with unlimited supply and variable issuance, making approval challenging.

Japanese residents must follow these steps to cash out GST:

1. Swap GST for major crypto (e.g., USDT, SOL, XRP) on overseas or decentralized exchanges
2. Transfer the swapped crypto to a domestic exchange
3. Convert to yen domestically

This two-stage process is standard, incurring multiple transfer and exchange fees, so efficient route selection is important.

Is It Illegal to Use Overseas Crypto Exchanges?

It is not illegal for Japanese residents to use overseas crypto exchanges. The law regulates exchange operators, not individual users. Running an unregistered exchange domestically is illegal, but using legal foreign services is allowed.

Legal Basis

The Payment Services Act requires exchange businesses to register with the Prime Minister:

Crypto exchange business cannot be conducted unless registered with the Prime Minister.

This applies to operators, not users. However, be aware of:

• Tax Reporting: Overseas transaction profits must be declared to Japanese authorities.

• Consumer Protection: Overseas exchanges not registered in Japan are outside domestic legal protection.

• Regulatory Risk: Future law changes may restrict overseas exchange use.

Use reliable platforms and strong security, and act at your own risk.

Recommended Overseas Exchanges for GST

Key selection factors are reliability, liquidity, and usability. Major options include:

Exchange A

• Overview: Popular for user-friendly design and robust security, with millions of users globally.

• Features: Direct fiat-to-crypto purchase, industry-standard fees around 0.1%.

• Advantages: Extensive Japanese support, easy for beginners, reputable mobile app, and multiple security layers including cold storage.

Exchange B

• Overview: Wide selection of crypto assets, strong safety record, and early listings of new tokens.

• Features: Low fees (around 0.1%), flexible payment options like credit card, bank transfer, and P2P trading.

• Advantages: High liquidity, smooth trading, staking and lending, and native token fee discounts.

Exchange C

• Overview: Offers a broad range of assets, strong derivatives trading, and support from experienced traders.

• Features: Intuitive interface, advanced chart analysis tools for technical traders.

• Advantages: Margin and leveraged trading (with increased risk).

Choose platforms based on your trading style, experience, and security needs. Diversifying across exchanges is wise for risk management.

How to Buy GST: Overseas Exchange Guide

Here’s a step-by-step guide for buying GST on overseas exchanges:

Step 1: Open a Domestic Exchange Account

• Register at a major domestic exchange with identity documents.
• Screening typically takes 1–3 business days.
• Deposit yen and buy crypto (XRP recommended for fast, low-fee transfers).

Step 2: Open an Overseas Exchange Account

• Register on the chosen overseas exchange’s official website.
• Set up email, password, and enable two-factor authentication.
• Complete KYC verification (passport/drivers license and selfie).
• Verification may take hours to days.

Step 3: Transfer XRP to Overseas Exchange

• Send XRP from domestic to overseas exchange.
• In the overseas exchange, select “Deposit” and choose XRP; verify address and destination tag.
• Important: Copy address and tag exactly; manual entry can cause permanent loss.
• Enter the details in the domestic exchange’s withdrawal screen and execute the transfer.
• Confirm receipt in the overseas exchange’s deposit history (usually a few minutes).

Step 4: Sell XRP for USDT

• Select “XRP/USDT” pair, use a market order to sell XRP for USDT instantly.
• USDT is now available for buying GST.

Step 5: Buy GST with USDT

• Search for “GST” and select “GST/USDT” pair.
• For simplicity, use a market order for immediate purchase.
• Enter the USDT amount or GST quantity, review, and press Buy.
• For a better price, use a limit order—but it may not fill immediately.

After Purchase: Managing GST

• GST is stored in the exchange wallet.
• For long-term holding, consider hardware or self-custody wallets.
• Regularly review your portfolio and take profits or cut losses as needed.

Recommended DEXs for GST

Decentralized exchanges (DEX) offer transparent, secure GST trading via smart contracts. Key DEX options:

Raydium

• Overview: A leading AMM DEX on Solana, trusted by DeFi users and central to the ecosystem.

• Features: Order book integration, easy liquidity provision, and early token listings.

• Advantages: High speed and low fees, refined UI, and optimal pricing via Jupiter aggregator.

Orca

• Overview: The most beginner-friendly, community-driven DEX on Solana.

• Features: Whirlpool concentrated liquidity, intuitive swap UI, and approachable branding.

• Advantages: Easy for first-time users, early token listings, and abundant liquidity via aggregators.

Jupiter

• Overview: Solana’s largest DEX aggregator, finding the best route across multiple DEXs.

• Features: Cross-DEX price search, minimized fees, limit orders, bridging, and DCA.

• Advantages: Automatically finds optimal GST trading routes; easy for non-technical users; rapid token support.

Use a self-custody wallet (Phantom, Solflare) and hold enough SOL for fees. Always test with small amounts before larger trades due to smart contract risks.

How to Buy GST on Raydium

GST can be purchased directly on Raydium using your wallet. Here’s a step-by-step guide:

Preparation for Swapping GST on Raydium

Step 1: Set Up a Solana Wallet

• Recommended: Phantom (browser extension with Japanese support) or Solflare.
• Install Phantom on Chrome or Brave.
• Create a new wallet and write down your seed phrase (12–24 words) securely. Losing it means permanent wallet loss.
• Ensure the wallet network is set to “Solana Mainnet.”

Step 2: Obtain SOL and Transfer to Wallet

• SOL is required for gas fees and swaps.
• Buy SOL on any exchange and transfer a small amount (0.5–1 SOL recommended) to your wallet.
• In Phantom, click “Receive” to get your Solana address.
• Important: Select “Solana Network” and double-check your address to avoid permanent loss.
• Send a small test transfer first, then the full amount.

Step 3: Access Raydium and Connect Wallet

• Go to raydium.io.
• Click “Connect Wallet” in the top right.
• Select Phantom or Solflare, and approve the connection.
• Your wallet address and SOL balance appear at the top right.

Step 4: Select GST Token

• On Raydium’s swap screen, choose SOL or USDC as “From.”
• Select GST as “To.” If not listed, add manually.
• Manual Add:
  • Paste GST contract address:

    AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB

  • Confirm GST details and add the token.
  • Check “I understand” to complete.
• Note: Only use official contract addresses to avoid scams.

How to Swap GST

Step 1: Go to Swap Screen

Select “Swap” in Raydium’s navigation. Ensure your wallet is connected.

Step 2: Select Token Pair

Choose the swap pair (e.g., SOL to GST):

• From: SOL
• To: GST (added above)

Step 3: Enter Swap Amount

• Enter SOL amount or GST quantity (auto-calculates the other).
• Displayed info includes:
  • Rate: GST per SOL
  • Price Impact: Effect on market price (ideally <1%)
  • Minimum Received: Guaranteed minimum after slippage
  • LP Fee: Usually 0.25%
• Confirm details and click “Swap” if satisfied.

Step 4: Approve and Confirm Transaction

• Click “Swap” and approve in your wallet.
• Review tokens, amounts, and fees; click “Approve.”
• Transaction completes in seconds to tens of seconds.
• “Transaction Successful” appears in Raydium.
• Check your wallet for GST.

Displaying GST After Swap

After the swap, your wallet shows the new token (may take a few seconds or minutes).

If GST doesn’t show in Phantom, add manually:

1. Open Phantom and select “Manage Tokens” or “Add Custom Token.”
2. Enter GST address (AFbX8oGjGpmVFywbVouvhQSRmiW2aR1mohfahi4Y2AdB).
3. Click “Add” when GST info appears.

Key Swap Precautions

Check Price Impact

Price impact is the effect of your trade on market price. Large trades in low-liquidity pools worsen rates.

• Under 1%: Ideal
• 1–3%: Acceptable
• 3–5%: High—consider smaller/multiple trades
• Over 5%: Very high—try another DEX

Set Slippage Tolerance

Slippage is the difference between expected and executed price, due to blockchain speed or volatility.

• Default: 0.5–1%
• High volatility/low liquidity: 2–5%
• Too low may cause failures
• Adjust via the settings icon

Error Handling

“TimeOut” error:

• Network congestion prevented processing.
• Raise priority fee to speed up.
• Set “Priority Fee” to “Medium” or “High” in Phantom.
• Try “Medium” first to avoid extra cost.

“Insufficient SOL balance” error:

• Not enough SOL for fees.
• Send 0.01–0.05 SOL more to your wallet.

“Slippage tolerance exceeded” error:

• Market fluctuation exceeded your setting.
• Raise slippage tolerance or wait for stable conditions.

Japanese Regulatory and Policy Trends

Japan is advancing both regulation and development of the crypto industry. The legal and policy landscape has evolved significantly in recent years.

Stricter Regulation

The FSA has warned unregistered overseas exchanges, resulting in some apps being removed from domestic app stores. Goals include:

• Investor Protection: Safeguarding users from fraud
• Anti-Money Laundering: Preventing criminal activity
• Market Integrity: Ensuring a transparent, well-regulated market

Web3 Industry Development

Japan’s government is actively supporting the Web3 sector, publishing a “Web3 White Paper” and establishing the METI’s “Web3 Policy Promotion Office.” Pilot projects include:

• Regional blockchain adoption
• Digital government services with Web3
• Pilot opportunities for selected businesses

Japan is leading blockchain implementation in society.

Future Outlook

Japan is shifting blockchain’s role from speculation to infrastructure, aiming for a safe, innovative Web3 ecosystem. Future directions include:

• Clearer legal guidelines
• Expanded token listing in domestic exchanges
• Broader public service applications
• International regulatory harmonization

STEPN’s Popularity in Japan

STEPN has drawn widespread interest in Japan, including many crypto newcomers. At its peak, Japanese users accounted for nearly half the user base, making Japan a key market.

Boom Period

At its height, STEPN saw about 700,000 daily global users. In Japan:

• Social media buzz
• Rising NFT sneaker prices
• Increased media coverage
• Recognition of “earn by walking”

Health-conscious and tech-savvy early adopters were especially enthusiastic.

User Trends

Subsequent token price drops and competition led to falling user numbers. There were periods of recovery, but the trend has been downward overall.

Current Status

Now, only core users remain active, with limited new entrants. Contributing factors include:

• High initial NFT sneaker costs
• Token price volatility
• Competition from other Move to Earn apps
• Overall crypto market slump

Future Potential

STEPN’s team continues to update and improve tokenomics. As health and Web3 interest grow, STEPN could see renewed popularity.

Global Move to Earn Market Growth Forecast

Apps like STEPN that reward physical activity with crypto are called Move to Earn (M2E). While the initial boom has settled, user expansion and cross-sector integration suggest continued growth.

Market Size Forecast

The market was valued at about $466 million a few years ago, projected to reach $2.474 billion (approx. ¥270 billion) in the next ten years, with an average annual growth rate of 18.2%.

Main Growth Drivers

Health and Gamification

Global health awareness and gamification are key drivers of M2E expansion.

Successes like STEPN and Sweatcoin (50+ million downloads) show these apps help beginners start exercising, with financial rewards driving high retention.

Benefits include:

• Formation of exercise habits
• Reducing sedentary behavior
• Improved mental health
• Stronger community ties

Blockchain and Corporate Partnerships

NFT and token-based rewards ensure transparency and fair recognition of user effort.

STEPN partners with Solana, BNB Chain, and Ethereum, and actively pursues branded NFT sneaker collaborations, such as:

• Major sports brand partnerships
• Region-specific sneaker designs
• Celebrity collaborations

M2E is becoming part of fashion and lifestyle, not just gaming.

Investment Inflows

M2E projects have raised over $120 million in recent years, supporting market growth. Investors are drawn by:

• The fusion of real-world activity and digital economy
• Addressing global health issues
• Practical Web3 use cases
• Sustainable growth potential

Challenges and Solutions

M2E faces important challenges, notably token sell-offs leading to price drops and user attrition. STEPN’s GST saw sharp declines and user loss. Projects are improving tokenomics sustainability via:

• Stronger burn mechanisms
• Staking incentives for long-term holding
• Diversified in-game spending
• Expanded external partnerships
• Enhanced NFT value

These efforts aim for a more sustainable M2E ecosystem.

Summary: How to Buy GST Safely and Effectively

STEPN has attracted global attention with its “earn by walking” concept. GST, its core game currency, features a cyclical model: earned through exercise, spent in-game.

GST’s True Value

GST is more than a speculative asset—it incentivizes healthy lifestyles and rewards user activity, setting it apart from conventional cryptocurrencies.

Practical Approach to Buying and Cashing Out

To convert GST to yen, you must use overseas exchanges or DEXs. Key considerations:

1. Choosing an Exchange: Compare reliability, liquidity, and fees
2. Security: Use two-factor authentication and hardware wallets
3. Tax Reporting: Declare profits appropriately
4. Regulatory Compliance: Follow Japanese law

Risk Management

GST investing carries risks such as:

• Price volatility
• Exchange security
• Regulatory changes
• Project continuity

Understand and manage these risks. Invest surplus funds and diversify your portfolio.

Future Outlook

Move to Earn remains a promising field, with future developments expected in:

• Enhanced user experience
• More sustainable tokenomics
• Expanded partnerships with companies and governments
• Integration with health insurance and wellness programs

With proper understanding and risk management, even beginners can enjoy the dual benefits of better health and financial rewards. Start small and build your knowledge step by step.

FAQ

What is GST?

GST stands for Goods & Services Tax, an indirect tax similar to Japan’s consumption tax. The standard rate is 9%, applied through an invoice system. Many countries, including Singapore, use this tax model.

Where can I buy GST?

GST is primarily available on major overseas exchanges, such as Binance and OKX, and is traded 24/7. Domestic exchange support is limited, so using overseas platforms is recommended.

How do I buy GST?

To buy GST, open an account at a domestic or overseas crypto exchange, deposit funds, and execute your trade. Choose a platform that meets your needs.

What is the minimum amount to buy GST?

The minimum purchase is $10, which buys about 6,031 GST at the current price of $0.001658 per GST.

Is buying GST safe? What are the risks?

Buying GST involves risks like hacking, bugs, low liquidity, and market volatility. Use reputable platforms and handle wallet management carefully.

How do I store GST in a wallet?

Create a wallet address and securely store your seed phrase. Transfer GST to your wallet, and never share your private key. Hardware wallets are recommended for enhanced security.