BENQI token is the official cryptocurrency of BenQ gaming devices. It was created on 3rd July 2018 and comes with an ERC20 smart contract. This means that it has its own blockchain and uses Ethereum as its main network.
The BENQI token is based on Ethereum platform tokens. The use of this tool allows us to create our own cryptocurrencies so we can choose any unique name which may be more convenient for us. We have a flexible architecture system where users can integrate their existing systems such as APIs and exchange them into BENQI tokens.
In addition, the BENQI token also offers some standard functions such as account management, multisig wallet, and more. The BENQ token will serve as a payment method within their platforms, but also provide value to players and developers outside those platforms. Below, we show you how to buy BENQI.
A quick guide on buying BENQI token
Before you can buy Qi, you will need to make sure that you have created an account on Binance. To do that, simply visit the Binance website and navigate to the Create a New Account section. You will then be required to provide your personal information.
Before you proceed, you must ensure that you have verified your identity. This makes the whole process easier in the future. Below, we share the quick steps to buying BENQI. The great thing about Binance is that you can buy cryptocurrency with a debit/credit card, P2P, or Cash Balance. Also to note is the fact that you have to buy crypto first before you can buy QI.
Step1: Visit Binance
After you have successfully created your Binance account and verified it, you can sign in. on the dashboard, you will be able to see the Buy Now tab located on the homepage. If you decide to purchase using fiat currency, then you must enter the fiat amount that you want to spend. When you do that, Binance will show you how much cryptocurrency is worth that fiat amount.
At this point, you will be able to specify the payment method that you want to use, which may be Visa or MasterCard. After selecting your card, you must click Continue. At this point, you will be required to enter your card information, which allows your card to be added.
Step 2: Confirm Your Order
Before proceeding, we strongly suggest that you double-check your payment details, as well as have a look at the fees. You will need to make sure that you confirm your transaction within a minute. This is because not doing so means that the BENQI price will be recalculated using the current market price.
You will be redirected back to your wallet page. Now you can see your purchase information in the transaction list. Click on the “View your Order” button if you want to check out your order details.
Exchanges to buy QI
Binance
Binance has been dominating the scene. One of the biggest advantages offered by Binance is that of lower fees. Exchanges charge little while users enjoy high liquidity charts that make possible instantaneous purchases and selling in a moving market.
Luckily, many countries across the world allow Binance operation on THORChain, these include Australia, Singapore, and the UK while those from the USA are barred. Though Binance is barred from the USA, it still maintains large customer bases in many countries across the world and it looks highly probable that it will grow so huge to disband any form of competition.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
eToroX
This platform was launched in 2007 and has grown to be one of the most trusted brokers due to its safety and security. Recently, it started offering cryptocurrency trading and most traders prefer it due to its user-friendliness.
Step-by-step Buying Guide
- Sign up for an account at eToro
- Verify your account
- Fund your account
- Buy your coin
Pangolin
Pangolin is a cryptocurrency exchange where you can buy, sell, trade, and invest in different types of coins. There are many reasons why PCX has become very successful. One of them is that they offer multiple cryptocurrencies to users at the same time and also take into account market conditions when investing which helps investors keep their money safe.
Another reason for its success is because with Pangolin Coins the fees are not so high as other exchanges. Because it is based on the Ethereum blockchain, it is considered an ERC-20 token. This means that all transactions should be completed within ten minutes. Moreover, since there are no transaction or withdrawal limits, this means that everyone can come in and out of the network whenever necessary.
Step-by-step Buying Guide
- Create an account
- Complete KYC process
- Add funds to your wallet
- Buy your crypto
KuCoin
Since it was launched, KuCoin has grown to become a top crypto exchange that serves worldwide. The platform offers features that are quite impressive, including the following:
- Fiat onramp
- Passive income services
- Margin trading exchange
- Futures
- Crypto crowdfunding
- P2P marketplace
- Non-custodial trading
Step-by-step Buying Guide
- Make sure that you log in and opt for a spot on the tab
- To make MIR transactions, make sure that you choose the BTC market
- From then on, more focus on Mirror Protocol which has a proper tab. Create a trading pair consisting of Mirror Protocol/BTC
- Password is always key when purchasing
- Insert your password to ensure proper security
BKEX
BKEX is a new crypto exchange that offers traders a smooth and simple way to trade cryptos using its own token. BKEX is based on the Ethereum blockchain technology, so you can use BKEX tokens for transactions between members of this platform by paying fees in ETH which are converted into BKEX tokens and vice versa. Once your order has been fulfilled, you will receive BKEX tokens automatically via email or even instantly with the help of our partner, PayPal.
The most important feature of BKEX is its simplicity. There are no additional charges for deposits and withdrawals. The only thing users have to pay is the trading fee. There are no restrictions on maximum order sizes, minimum amounts, and market orders. In addition, there is no limit on the number of open positions.
Step-by-step Buying Guide
- Sign up for an account at BKEX
- Verify your account
- Fund your account
- Buy your coin
How BENQI project is different
Share Liquidity Market
The BENQI protocol democratized access to decentralized financial products. Users were given immediate access to decentralized liquidity providers and were able to share their collateral. Both parties received compensation for their efforts.
View of Interest Rates
On top of calculating daily returns by the minute, this service provides real-time pricing for bonds, currencies, and commodities.
Bridge Between Ethereum and Avalanche
BENQI is a bridge to connect Ethereum and Avalanche Bridge. Therefore, the protocol can provide users on Ethereum with an easier, faster, and more cost-effective method of trading.
For every currency pair, there’s a different time-based rate calculated by BENQI. These rates are used as default values on the platform. Users may choose to use other available rates instead.
Lower Fees
The fees that users pay within the platform are nominal because the underlying blockchain technology enables a fast transaction speed. The platform also supports AVAX borrowing and loan activities, as well as other cryptocurrency wallet integrations when the time is right.
Things to consider before buying QI
1. What does the total supply of BENQI Tokens represent?
Make sure that you do thorough research beforehand to get all the information about this token. You can also have a look at the whitepaper of this token to find out more. This will give you a rough idea of what the total supply of the token represents.
2. How does the price fluctuate over time?
It’s crucial that you check the token’s history to see how much its value fluctuates. If the token is not steady, then make sure that you stay away from it.
3. Where can I sell my coins?
Thankfully, QI can be sold on various exchanges that we have listed above. Therefore, you will be able to sell these tokens anytime, using exchanges such as Binance.
4. Does BenQ accept third-party payments?
The next important thing that you should do is make sure that you find out if the platform accepts third-party payments. This will make it easier for you to trade tour tokens in the future.
Where to store QI token
You can deposit your Benqicoin on different exchanges and wallets, depending on your preference. There are three options available to you:
* Local wallet — a private file stored locally via desktop application/browser extension
* Online wallet — one operated entirely online, no storage required
* Cold Wallet — offline, secure, cold storage, meaning never connected to the internet
Once your funds are in place, you simply have to follow the steps below:
- Log in to your BenQ Account
- Select where you would like to keep your BENCYCOIN
- Choose between “Local” or “Online” storage and proceed by selecting one option
- After creating your wallet, you will receive an ERC20 Token Address
Where can I spend my money? To enjoy all the benefits of being a BENQI holder, it is recommended that you hold your tokens in your BenQ Account.
To do this, please log in to your BenQ Account. From here, select the ‘Wallet’ tab – then ‘Tokens’. Here you will find your BENCYCOINS under the ‘Token Balance’ section.
Privacy and security tips
To keep your QI safe and secure, make sure that you take the following steps.
Keep Your Password Safe
Never disclose your username or passwords, and make sure they are not shared with anyone else. Make sure you log out after accessing all sites; otherwise you may lose access to them. Always remember to close your browser once finished browsing and deleting cookies.
Disable auto-fill functionality if possible, it’s convenient but also risky to use common names such as ‘firstname lastname’ etc. on websites that require passwords. Remember to clear your cache periodically as some sites may try to exploit vulnerabilities in cookies.
Be Safe on Insecure WiFi Networks
Insecure WiFi networks often transmit their users’ login credentials over unencrypted channels. Be careful when logging into public Wi-Fi hotspots, especially those hosted by coffee shops, hotels, restaurants, and bars. Always use strong unique passwords for each of your accounts. It is important to avoid reusing the same password across multiple accounts.
Change Your Password Frequently
Make sure to change your password regularly. When creating new passwords don’t reuse previous ones and be sure to include special characters and numbers. Don’t share your password with friends. Use two-factor authentication whenever available and create at least one backup password just for emergencies. This includes text messages sent to your mobile device or push notifications to set up alerts on your smartphone.
Keep Your Credentials Safe
Never write down your login ID and password in any form or print copies, even in hidden places. If someone finds out your password, they can gain access to your bank account online and steal your money.
Keep track of where you put your keys so you know exactly where they are. Do not carry these items onboard airplanes or trains as airport x-ray machines can detect credit cards, phones, laptops, tablets, and other devices. The best way to protect electronic devices is to remove sensitive data, media, and batteries from them during airplane travel.
Protect Yourself from Malware
If you suspect that your computer has been infected with malware, consider taking immediate action to clean its memory, hard disk drive, and system registry. Malware can destroy files, deface websites, intercept banking information, capture personal data and monitor keystrokes.
F.A.Qs
What is BENQI?
It’s a new digital currency based on Bitcoin technology and released by the Chinese Company BENQ which owns many electronic devices in various fields. It was officially launched in June 2017 and since then has enjoyed tremendous success.
Will BENQIreplace bitcoin?
No, indeed not! BENQI is completely different as it is based on advanced cryptography and has various advantages over Bitcoin.
Conclusion
The BENQI token was released on June 15th, 2018. Its purpose is to facilitate payments between customers and businesses that offer games for play. This is the first crypto-tokens issued by BenQ. It runs on the Ethereum Blockchain and has an open-source API, allowing integration with other applications and services.
