How to Buy Shapeshift FOX Token (FOX) in 2022: A Simple Guide

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

The fact that decentralized finance, well-known as DeFi, is the most popular term in the space of crypto and blockchain at the moment, is undeniable. Seeing this opportunity, ShapeShift (FOX) is here to facilitate users to trade, store, and buy their crypto across more than ten different Ethereum blockchains. In other words, this non-custodial cryptocurrency network allows these cross-chain trades.

When the account of ShapeShift users is verified, FOX tokens are distributed. Each FOX Token is worth $10 in free trade volume, every day in a month. Users can enjoy the benefits by only holding FOX in their platform wallet. In addition, by taking part in the ShapeShift DAO, holders of FOX token have the right to vote on products, asset integrations, and fee structures for the platform. Right now, ShapeShift is still in its development so it will be fully open-source in the near future.

Shapeshift FOX Token (FOX) Features

  • Scalability. ShapeShift allows users to access capital efficiency and grow lending opportunities. Borrowers are able to build their track record and develop their business. This is how the platform becomes the next evolution of DeFi.
  • Sustainability. Users have the opportunity to spawn DeFi yield from an expanded pool of qualified borrowers that are constant and profitable. Besides, with a reserve of protective capital, they can mitigate default exposure.
  • Security. ShapeShift is safe to use because the collateral is protected from automated liquidations and it is held in non-custodial smart contract. Furthermore, it is secured with smart contract insurance and audited by several third-party firms.
  • Community Governance. FOX token holders are able to take part in the governance of the ecosystem, allowing them to have more control over the future of the network. All of the decentralized governance mechanism is based on secured and structured smart contracts, providing users control over the system. Moreover, users can feel safe as they are ensured a higher level of transparency throughout the platform.
  • Competitive Rate. Despite its wildly fluctuated rate, ShapeShift offers competitive and dynamic interest rate that leads to market stability.

Where to Buy, Sell and Trade Shapeshift FOX Token aka FOX

You can basically use debit card, credit card, or even PayPal to buy the Shapeshift FOX Token (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Shapeshift FOX 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 Shapeshift FOX 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 Shapeshift FOX Token currency and exchange your Ethereum / Bitcoin / Tether with the Shapeshift FOX Token
  3. Store your Shapeshift FOX 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 Shapeshift FOX Token, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step. But for this token, you can buy it directly on COINBASE.

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 Shapeshift FOX 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 FOX/BTC or FOX/ETH or FOX/USDT trading pair and then place the order to buy those pairing cryptocurrencies.

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

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

Can I Buy Shapeshift FOX Token (FOX) 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 Shapeshift FOX Token (FOX) with Skrill?

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

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Shapeshift FOX Token (FOX) with Bitcoin?

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

Can I Buy Shapeshift FOX Token (FOX) with Ethereum?

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

What Is the Best Payment Method to Buy Shapeshift FOX Token (FOX)?

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

How to Protect Shapeshift FOX Token (FOX)?

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

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Shapeshift FOX Token (FOX)?

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

Conclusion

Still in its infancy, it makes sense that the information about Shapeshift (FOX) is still below the radar although the move is being done. However, considering the vision of ShapeShift, it is likely that it could generate mass migration towards large-scale decentralization. It’s a good idea to keep an eye on how well the transition process is carried out. One thing for sure is that FOX token has been enhanced with the power of governance that will develop in time.

Leave a Comment

error: