How to Buy FIO Protocol (FIO) in 2021: A Simple Guide

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

FIO Protocol wants to address the issue of wallet usability. Whereas other platforms focus on the scalability, the blockchain advanced technology, or the mining algorithm, FIO wants to improve the function and use of crypto wallet. All these years, platform developers are only focusing on everything related to the technologies, except for the wallet. For many of them, a wallet is just….a wallet, which is used to store the cryptocurrency.

However, the developer team believes that a wallet’s functionality can be improved. It doesn’t only function as a storage, but it can be equipped with high-tech features that make it highly usable and multi-functional. For a starter, the wallet can be used for different blockchains or platforms. This is one of the reasons why FIO Protocol is designed as a blockchain and decentralized protocol to deliver better experience in receiving or sending tokens and coins. FIO token would be the native (utility) token within FIO Chain, the platform’s infrastructure. It is used for on-chain governance and also transaction (gas) fees. FIO Chain itself implements DPoS (Delegated Proof of Stake) to get consensus within the network.

FIO Protocol (FIO) Features

  • Whitelisting. The platform uses whitelisting concept that can eliminate spam transaction risks virtually.
  • Verified wallet address. Since wallet interaction is risky, verified (wallet) address is necessary and crucial. This is one feature that can be done to deliver better protection and security.
  • Multisignature transactions. Users should be able to do this kind of transaction easily and fast.
  • FIO Address. It is the identifier for the wallet. Users can register their address through a specific registration site or an integrated application. Although it has an annual fee within FIO tokens, users can enjoy 100 free transactions.
  • FIO Request. Transactions can be initiated through FIO Address.
  • FIO Data. This is the transaction metadata, which is possibly ranging from a flexible note form to a structured data (like deposit details). This data system is designed to support the decentralized (commerce) system where the transactioned data is possibly stored within the on-chain network.

Where to Buy, Sell and Trade FIO Protocol aka FIO

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

With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to FIO Protocol. 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 or Bitcoin
  2. Find a crypto exchange that supports FIO Protocol currency and exchange your Ethereum or Bitcoin with the FIO Protocol
  3. Store your FIO Protocol to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase

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 FIO Protocol, once you get your Bitcoin or Ethereum, 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 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 with FIO Protocol:

BINANCE
binanceBinance is  the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.

  • Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
  • Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
  • Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
  • Trading Pairs: 1189+
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. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • 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 565+ more
  • Trading Pairs: 1118+
KUCOIN
kucoinKucoin 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 any of the above, find the BTC/FIO or ETH/FIO trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum.

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 FIO Protocol (FIO) 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 FIO Protocol (FIO) 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 FIO Protocol. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy FIO Protocol (FIO) 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 FIO Protocol (FIO) with Skrill?

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

Can I Buy FIO Protocol (FIO) with Bitcoin?

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

Can I Buy FIO Protocol (FIO) with Ethereum?

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

What Is the Best Payment Method to Buy FIO Protocol (FIO)?

The cheapest way is to use bank account to buy Bitcoins first or to buy the FIO Protocol right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect FIO Protocol (FIO)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell FIO Protocol (FIO)?

Find a crypto exchange which allow pairing FIO with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine FIO Protocol (FIO) 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 FIO Protocol is to buy it from a reliable exchange.

Conclusion

Whereas other platforms may be focusing on other aspects, FIO Protocol focuses on the wallet’s usability and functionality. With better wallet and more solid reconstruction, a platform should be able to enjoy improved quality and performance. Keep in mind, though, that the only way to get into the platform is through crypto purchase. It means that interested buyers will have to buy FIO Protocol (FIO) if they want to enjoy all the offered benefits.

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