In this guide you’ll get information about where to buy CoFiX, if you are planning to buy COFI token – You’re in the right place!
Crypto experts describe CoFIX as a computable trading platform with decentralized nature. The system uses the so-called NEST oracle to create a completely new DEX type. It is about bringing computable risk factor and reliable prices for market makers and traders. The platform is claimed to solve common issued faced by many DeFi platforms or projects.
The common issue about DeFi projects is the fact that they can’t manage (and calculate) risks because they don’t have the oracle with computable and controllable risk. This is when NEST oracle solves the issue. The platform provides a reliable and trusted price feed (complete with computable risk factor) not relying on the centralized infrastructure. With NEST oracle, there is a combination of computable risk factor, reliable prices, and new DEX for traders.
CoFIX is basically a computable DEX. It is designed as an innovative product in crypto field. Through CoFIX, market makers and traders are able to get their prices from (NEST) oracle. In every trade, they can even price in the computable risks. It would motivate market makers and also traders to trade or make the market. CoFIX would support all the pairs included within NEXT oracle.
- Official website: https://cofix.tech/#/swap
- Twitter: https://twitter.com/cofixprotocol
- Whitepaper: https://cofix.tech/doc/CoFiX_White_Paper.pdf
Table of Contents
CoFiX (COFI) Features
- CoFIX Swap. This is a dApp whose function is an efficient token swap within the Ethereum. Traders can get market prices within the smallest spread.
- Computability and price performance. NEST acts as the decentralized (price) oracle that is based on the financial arbitrage. Users are able to get the effective prices on chain through beta coefficient, price chains, and double options. The difference of real time equilibrium price and NEXT price is still in acceptable and computable range.
- Market Maker mechanism. This market maker still uses the AMM. However, it’s different from the regular AMM like Uniswap. This platform is able to inject asset to the pool although it’s not a pair. The platform introduces asset pool’s net worth concept where market maker would treat the asset pool as fund.
Where to Buy, Sell and Trade CoFiX aka COFI
You can basically use debit card, credit card, or even PayPal to buy the CoFiX (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the CoFiX 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 CoFiX. 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 CoFiX currency and exchange your Ethereum / Bitcoin / Tether with the CoFiX
- Store your CoFiX 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.
Get $10 Bonus when you sign up for Coinbase!
Click here to register (opens in new tab)
- 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 CoFiX, 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 CoFiX:
Gate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions.
- Deposit Methods: Cryptocurrency Only
- Fiat Currencies: N/A
- Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 1040+ more
- Trading Pairs: 1801+
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 COFI/BTC or COFI/ETH or COFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you COFI/USDT – so you need to convert your BTC or ETH to USDT first in order to buy CoFiX (COFI)
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 CoFiX (COFI) 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 CoFiX (COFI) 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 CoFiX. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy CoFiX (COFI) 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 CoFiX (COFI) with Skrill?
You can’t buy COFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to CoFiX. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy CoFiX (COFI) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair COFI/BTC and begin the transactions.
Can I Buy CoFiX (COFI) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support COFI/ETH trading pair.
What Is the Best Payment Method to Buy CoFiX (COFI)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the CoFiX right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect CoFiX (COFI)?
Once you have purchased the CoFiX, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell CoFiX (COFI)?
Find a crypto exchange which allow pairing COFI 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 CoFiX (COFI) 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 CoFiX is to buy it from a reliable exchange.
Conclusion
CoFIX is a unique, but special, trading platform with computable nature and decentralized technology. It may not be for everyone, but those who understand its nature and concept would appreciate its functions and purpose. With CoFIX, traders could minimize risks because of the platform’s computable specialties. The platform is open for everyone, but they need to buy CoFiX (COFI) if they want to join.
