In this guide you’ll get information about where to buy FODL Finance, if you are planning to buy FODL token – You’re in the right place!
FODL Finance allows traders to use leverage in their trades without having to pay a funding rate. This leverage comes from pre-existing DeFi building blocks like Aave and Compound. FODL allows traders enter leveraged trading position. Hedging is most crucial when the market becomes the most volatile. As a result, when the market is most unpredictable, traders have the greatest number of traders attempting to hedge, putting a strain on the liquidity resources to assist such trading. During such peaks in trading risky markets, they also pay the highest rates for access to liquidity for leverage.
Not only does the platform serve traders, but it also benefits yield farmers in that they may establish positions on FODL, receiving leveraged exposure to their favorite asset while generating yield. Traditional DeFi borrow or lend platforms are effectively transformed into money markets, offering users with leverage by margining their assets to themselves.
Table of Contents
FODL Finance (FODL) Features
- Pay 0% funding rates. Users can margin their collateralized asset to yourself via Compound or Aave without paying funding fees. The just need to pay for the platforms interest rate.
- Fully Decentralized. Furthermore, FODL adheres to a decentralized philosophy of transparency, minimal costs, user liberty, and dispersed revenue distribution. Users keep the keys to their positions and do not transmit cash to a central pool or protocol, and FODL fee revenue is allocated completely to FODL LPs via buybacks, thereby decentralizing all protocol profits.
- NFTs Trades. Money is never deposited on the FODL platform. Liquidity is contained within an NFT owned by users in their wallet, similar to Uniswap v3 positions. Their coins are their keys!
- Derivatives, Materialized. On controlled exchanges, derivatives are synthetic and may not be completely supported by underlying value. It gives an advantage for FOLD holders. By holding FOLD, they are provided with exposure to the genuine underlying assets as well as other benefits.
- Earn $FODL while Trading. Users can trade the FODL governance token. FODL token holders have the right to direct any fees collected by the FODL platform. The more they trade, the more money they make.
Where to Buy, Sell and Trade FODL Finance aka FODL
You can basically use debit card, credit card, or even PayPal to buy the FODL Finance (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the FODL Finance 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 FODL Finance. 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 FODL Finance currency and exchange your Ethereum / Bitcoin / Tether with the FODL Finance
- Store your FODL Finance 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 FODL Finance, 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 FODL Finance:
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 FODL/BTC or FODL/ETH or FODL/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you FODL/USDT – so you need to convert your BTC or ETH to USDT first in order to buy FODL Finance (FODL)
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 FODL Finance (FODL) 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 FODL Finance (FODL) 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 FODL Finance. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy FODL Finance (FODL) 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 FODL Finance (FODL) with Skrill?
You can’t buy FODL directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to FODL Finance. You can buy BTC/ETH with skrill by using these exchanges::
Can I Buy FODL Finance (FODL) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair FODL/BTC and begin the transactions.
Can I Buy FODL Finance (FODL) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support FODL/ETH trading pair.
What Is the Best Payment Method to Buy FODL Finance (FODL)?
The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the FODL Finance right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect FODL Finance (FODL)?
Once you have purchased the FODL Finance, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell FODL Finance (FODL)?
Find a crypto exchange which allow pairing FODL 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 FODL Finance (FODL) 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 FODL Finance is to buy it from a reliable exchange.
To provide a completely decentralized leverage trading platform, the FODL platform integrates flash loans and collateral lending platforms with proprietary position protection bots and cross-asset price indexing. FODL distinguishes itself from other leverage trading platforms by being the only fully-decentralized platform at the moment. This implies that users are not need to deposit cash to any centralized pool in order to trade on FODL. FODL has NFT components as well, making it distinctive and unique.