How to Buy Efinity Token (EFI) in 2022: A Simple Guide

Efinity Token (EFI)In this guide you’ll get information about where to buy Efinity Token, if you are planning to buy EFI – You’re in the right place!

Efinity is a decentralized cross chain NFT blockchain. EFI token is a deflationary type of token, powering this network that is scalable and environmentally friendly. The platform itself is constructed for creators, businesses, apps, and games, allowing them to take part in the NFT world. Each of them would be able to deliver their NFTs to the mainstream audiences.

Some of the best characteristics of the Efinity are fuel tanks, native multisign, smart contracts, transaction fee delegation, NFT launchpad, price discovery, instant swaps, cross chain marketplace, discrete accounts, and crafting. Each transaction in Efinity would be confirmed in around 6 seconds and it is able to accommodate 1000 TPS. When compared to current Ethereum’s capability with 15 TPS, the differences are quite obvious.

Enjin, with Web3 Foundation, are designing Efinity within the Polkadot network. It is a parachain having validators of Polkadot Relay Chain consensus algorithm. Because of this construction, Efinity has its own state, data, and economic framework. It supports incentives and ecosystem interoperability, especially related to the NFTs.

Efinity Token (EFI) Features

  • NFT focus. Instead of serving as computing blockchain with general purpose, Efinity wants to be the ‘highway’ of NFT. The focus and priority is about token purchases, transfers, and also generation. When compared to Ethereum, the transaction cost in Efinity is smaller and more inexpensive, so users can focus more on their favorite assets or items.
  • Low fees. Ethereum and similar platforms are costly. Not all users are able to afford it. In Efinity, however, fees can be made as small as possible, making transactions affordable and accessible by most users.
  • Rewarding incentives. Everyone taking part in the development and growth of the NFT industry have the same opportunities to be rewarded. Not only users and sellers will be rewarded, but the collator nodes, developers, and even buyers.
  • Network effects. Efinity acts as an interoperability hub for the NFT as well as fungible tokens. It can connect various chains, such as the standard ERC-1155, ERC-20, and ERC-721.

Where to Buy, Sell and Trade Efinity Token aka EFI

You can basically use debit card, credit card, or even PayPal to buy the Efinity Token (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Efinity Token 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 Efinity Token. 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:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Efinity Token currency and exchange your Ethereum / Bitcoin / Tether with the Efinity Token
  3. Store your Efinity Token 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!

coinbaseClick 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 Efinity Token, 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 Efinity Token:

GATE.io
gate.ioGate.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 EFI/BTC or EFI/ETH or EFI/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

Most likely you’ll find this pair available to you EFI/USDTso you need to convert your BTC or ETH to USDT first in order to buy Efinity Token (EFI)

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 Efinity Token (EFI) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

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

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 Efinity Token (EFI) 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 Efinity Token. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Efinity Token (EFI) 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 Efinity Token (EFI) with Skrill?

You can’t buy EFI directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Efinity Token. You can buy BTC/ETH with skrill by using these exchanges::

Can I Buy Efinity Token (EFI) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair EFI/BTC and begin the transactions.

Can I Buy Efinity Token (EFI) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support EFI/ETH trading pair.

What Is the Best Payment Method to Buy Efinity Token (EFI)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Efinity Token right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Efinity Token (EFI)?

Once you have purchased the Efinity Token, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Efinity Token (EFI)?

Find a crypto exchange which allow pairing EFI 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 Efinity Token (EFI) 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 Efinity Token is to buy it from a reliable exchange.

Conclusion

NFT is the future of digital asset that has limited abilities; at least before Efinity is created. With Efinity, focus to NFTs would be enhanced and interoperability can be managed. The focus of investment would be the NFTs where transactions would be made easy. Interested in joining? People must buy Efinity Token (EFI) first before they can reap all the benefits.

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