In this guide you’ll get information about where to buy DeFiChain, if you are planning to buy DFI token – You’re in the right place!
Many DeFi projects spread in the various blockchain. But there is still no single chain that is only for decentralized finance. That is until DeFiChain comes into the limelight. The blockchain is the first ever that focuses on serving Decentralized Finance purposes.
DeFiChain offers a faster speed and a more secure environment for all dApps. Unlike other blockchains that also house numerous other dApps that can compromise the security and transaction speed of the DeFi sector. The blockchain has all of the features in the regular decentralized finance projects and more. It has a wallet, peer-to-peer lending, and yield mining. Investors who buy DeFiChain (DFI) will receive numerous advantages such as Cross-Chain exchange at a low fee.
- Official Site: https://defichain.com/
- Twitter: https://twitter.com/defichain
- Reddit: https://reddit.com/r/defiblockchain
- Telegram: https://t.me/defiblockchain
- White Paper: https://www.defichain.com/white-paper/
Table of Contents
DeFiChain (DFI) Features
- DeFi-specific Chain: Many blockchains with a multitude of decentralized finance apps. However, there is still no blockchain with a single purpose of supporting the DeFi ecosystem. Therefore DeFiChain aims to be the first blockchain that focuses on having only DeFi apps in the network. They aim to enhance the speed and security of those apps. Decentralized finance requires the ability to handle numerous transactions in a short time. Sharing the network with other non DeFi apps can delay the process and thus dampen the DeFi apps’ performances.
- Breakthrough DeFi features: DeFiChain aims to help users on using decentralized finance on a blockchain. On top of the exchange service, DeFiChain also offers transferable debts and receivables to help small business owners on keeping their companies going. They can apply for a loan on DeFiChain and use their receivables to show their liquidity. The transparency will help the users on request and give loans. The chain aims to be able to give loans without using any assets as collateral.
- Cross-Chain Exchange: Supporting the DeFi ecosystem means that DeFiChain offers cross-chain exchange features. This is to help users who wish to swap their tokens or make them liquid. Users need to apply for the swap to the DeFiChain and fill the requirements. Then they can list their DAT in native tokens to do the swap. In short, it’s similar to peer-to-peer lending with DeFiChain’s XCX service acting as the intermediary. The cryptographic design ensures that there is no transaction if one party refuses or does not meet the requirement.
Where to Buy, Sell and Trade DeFiChain aka DFI
You can basically use debit card, credit card, or even PayPal to buy the DeFiChain (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the DeFiChain as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy Tether first. After you get the ETH or BTC or USDT, you can convert it to DeFiChain. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
- Find a crypto exchange that supports DeFiChain currency and exchange your Ethereum / Bitcoin / Tether with the DeFiChain
- Store your DeFiChain to a secured wallet
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT)
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.
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- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying DeFiChain, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.
Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with DeFiChain:
Kucoin is one of the most solid exchanges in the market right now. They started to operate back in 2017. They take regular payment methods such as wire and bank transfers as well as other cryptocurrencies. They have a presence both in the Google Play Store and the iOSAppStore. Kucoin also offers discount trading fees, as well as significant dividends on half the transactions they do. They have a presence both in the Google Play Store and the iOSAppStore.
- Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
- Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
- Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
- Trading Pairs: 1044+
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the DFI/BTC or DFI/ETH or DFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you DFI/USDT – so you need to convert your BTC or ETH to USDT first in order to buy DeFiChain (DFI)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your DeFiChain (DFI) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy DeFiChain (DFI) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the DeFiChain. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy DeFiChain (DFI) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy DeFiChain (DFI) with Skrill?
You can’t buy DFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to DeFiChain. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy DeFiChain (DFI) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair DFI/BTC and begin the transactions.
Can I Buy DeFiChain (DFI) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support DFI/ETH trading pair.
What Is the Best Payment Method to Buy DeFiChain (DFI)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the DeFiChain right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect DeFiChain (DFI)?
Once you have purchased the DeFiChain, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell DeFiChain (DFI)?
Find a crypto exchange which allow pairing DFI with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine DeFiChain (DFI) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a DeFiChain is to buy it from a reliable exchange.
Conclusion
Investors who buy DeFiChain (DFI) tokens are supporting the presence of a blockchain that has the best interest of all projects in Decentralized Finance. The blockchain will have an exponentially faster speed in handling a large number of transactions. Being a DeFi only blockchain means that there is no other dApp on the chain that can impend the growth or massively affect the transactions. It is also in the investors’ best interest that the blockchain is not secure, scalable, and enterprise-ready.
