In this guide you’ll get information about where to buy Bitcoin File, if you are planning to buy BIFI token – You’re in the right place!
Bitcoin File (BIFI) is a blockchain-based point-to-point distributed file system that attempts to build a worldwide decentralized file system by combining the IPFS file system with the bitcoin settlement network. The integrated technology makes it more ecologically benign for the globe, more equitable and rewarding for miners, and more dependable and user-friendly. It fully solves the problem of poor stability in IPFS networks caused by contributors’ failure to earn sufficient rewards and the inefficiency of power usage in the bitcoin mining process.
All resource sharers (miners) on the Bitcoin File network can mine by offering their own storage capacity and network bandwidth. The amount of Bitcoin File earns is proportional to the amount of disk space and network bandwidth it distributes, and only the disk space and network bandwidth truly used by users will be considered as proof of work, enhancing overall network performance and efficiency.
Bitcoin File (BIFI) Features
- Fully Decentralized. Bitcoin File is a decentralized community that is entirely self-monitored. The community participants are resource-sharers (miners) and consumers. According to the community design guidelines, about 17 billion Bitcoin Files will be air dropped to current Bitcoin holders, and another 3 billion will be given to each resource sharer (miners) on a POC basis.
- Token Incentives. When using the Bitcoin File network, network users must pay BIFI. There will be 1.05 billion BIFI minted in advance, with 0.7 billion going toward marketing and ecological building and the remaining 0.35 billion going for team incentives. The portion allocated for team rewards will be locked for four years, with 20% unlocked each year.
- A fork of BTC Blockchain. . Bitcoin File (BIFI) is a split in the Bitcoin blockchain that happens at block height 501225 and generates a new chain as the BIFI. BIFI miners will begin producing blocks using a new proof-of-work algorithm, and will thereafter build and improve account transfer and privacy protection based on BIFI’s original characteristics.
- High Stability. It fully solves the problem of poor stability in IPFS networks caused by contributors’ inability to receive appropriate rewards. Bitcoin File (BIFI) is a peer-to-peer distributed file system based on blockchain technology that intends to establish a worldwide decentralized file system in collaboration with the IPFS file system and the bitcoin cryptocurrency network.
Where to Buy, Sell and Trade Bitcoin File aka BIFI
You can basically use debit card, credit card, or even PayPal to buy the Bitcoin File (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Bitcoin File 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 Bitcoin File. 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 Bitcoin File currency and exchange your Ethereum / Bitcoin / Tether with the Bitcoin File
- Store your Bitcoin File 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.
Get $10 Bonus when you sign up for Coinbase!
- 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 Bitcoin File, 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 Bitcoin File:
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 BIFI/BTC or BIFI/ETH or BIFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you BIFI/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Bitcoin File (BIFI)
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 Bitcoin File (BIFI) 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.
- 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 Bitcoin File (BIFI) 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 Bitcoin File. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Bitcoin File (BIFI) 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 Bitcoin File (BIFI) with Skrill?
You can’t buy BIFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Bitcoin File. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy Bitcoin File (BIFI) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair BIFI/BTC and begin the transactions.
Can I Buy Bitcoin File (BIFI) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support BIFI/ETH trading pair.
What Is the Best Payment Method to Buy Bitcoin File (BIFI)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Bitcoin File right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Bitcoin File (BIFI)?
Once you have purchased the Bitcoin File, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Bitcoin File (BIFI)?
Find a crypto exchange which allow pairing BIFI 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 Bitcoin File (BIFI) 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 Bitcoin File is to buy it from a reliable exchange.
Bitcoin File (BIFI) is a blockchain-based point-to-point distributed file system that attempts to build a worldwide decentralized file system by combining the IPFS file system with the bitcoin settlement network. The integrated technology makes it more ecologically benign for the globe, more equitable and rewarding for miners, and more dependable and user-friendly.