Bonfida operates on a Solana blockchain for users looking dear to decentralized exchange systems. Expect a Serum trading protocol to add on the non-custodial setup. Bonfida has a host of trading products which are all powered by Solana’s official on-chain order book.
Transactions are not only quick but ideal for everyone (beginners and seasoned). Thanks to developers who supplied the TradingView data section users are able to assess the market movement as a whole.
Serum DEX is the official trading platform and everyone should access it for a better experience. Check out the super-fast Solana ecosystem governed by anyone in possession of FIDA coins.
When we say super fast we really mean it because, in a single second, 50 000 transactions are processed and confirmed. Transactions are controlled and managed by those in charge, not third parties.
Concerns have been bred about gas costs but not to worry they are very low, a good sign for small traders.
The article will cover everything to do with the best place to purchase FIDA, payment options, security tips, and important considerations before real purchases. Let us look at the quick guide meant to ease purchase.
A quick guide on buying FIDA
As we delve deep into the quick guide, we will use Binance as our recommended exchange. Binance has top-notch services and options. Since 2017 traders from Asia and the rest of the world have placed Binance on the poll position.
a) Create an account on Binance
Creating a Binance account is very easy and fast. All there is to supply are a few personal details which include an active email address and phone number. Once all is set, you go through a simple verification process.
b) Purchase FIDA
With your Binance account in position, look for options that allow USDT or BTC options because it’s simply impossible to purchase FIDA directly using fiat.
Thanks to Binance payment options, traders are able to purchase BTC with credit cards, with debit cards, or with PayPal. Credit cards are more flexible and fast as compared to other related options.
Fund your Binance account and then reach out for FIDA purchases. Look for BTC/FIDA pair and set your balance. Depending on how much you have put on the line Binance will grant you discount packages.
Buying FIDA with USD is currently impossible but traders are hopeful for a turnaround.
c) Fee check
When you make transactions, Binance usually charges small and miniature charges depending on which payment method you would have selected. It’s important to check fee volume.
d) Invest in Bonfida
With FIDA in position, what will stop you from investing, nothing! Check out margin accounts and all available quantitative strategies to assess your account management. There are also different options in which one can use to trade FIDA perfectly. These are
- EFTs
- Perpetual Contracts
Exchanges to buy FIDA
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
Crypto.com
This exchange is about 5 years old, having been launched in 2016. However, in such a short space of time, it has managed to gain a great reputation and become a trusted platform worldwide. On the platform, you will be able to trade cryptocurrencies conveniently due to the various services on offer.
On the platform, you can buy 100+ cryptos at true cost. Not only that, but you will also be able to manage your visa card offered by the platform, earn interest on your crypto, make crypto payments, and so much more. Another great feature is that the company has a non-custodial DeFi wallet. As a result, you retain full control of your private keys.
Step-by-Step Buying Guide
- Sign up on the platform and provide your ID and selfie for verification
- Fund your account
- Tap on the Trade button
- Click Buy, and then your chosen crypto. This lets you choose your preferred coin
- Add your card and follow the secure link provided
Gate.io
Gate.io is a more ideal exchange that has a lot of guarantees. The most fantastic feature of Gate.io is the user interface. Very friendly to beginners and they can actually move up the charts to become specialists and professional technical traders.
Gate.io was launched in the year 2013 and from then it has been creating a huge base of altcoins for many users. You can easily maneuver in the market with Gate.io. For those trading in the USA, this is the best choice.
Step-by-step Buying Guide
- Sign up for an account
- Complete the KYC verification process
- Fund your wallet
- Choose a trading pair and buy
How Bonfida project is different
Fresh Markets and Listing
If there is one thing exceptionally exclusive about Bonfida it’s market systems. Serum-based markets in this case are fresh and advanced.
Just like many digital token holders, FIDA holders also have voting rights and decision-making in these exclusive markets. They can change and shift liquidity levels. Thanks to Alameda Research and fellow commercial partnerships, FIDA holders can excitingly make good market governance a reality.
Modern Order Types
On top of the already mentioned exclusive market and listing system, users should expect massive on and off-chain setups. With these in position, traders can place their tokens in shape for a better trading pounce.
TradingView Charts
In the wake of the article, we passed through TradingView charts. This is a betterment tool in placing orders. Thanks to Bonfida designers, it’s highly possible to make predictive forecasts due to fusion with on-chain data.
Advance and Efficient UI
Bonfida is not narrow but has a universal approach. They recognize that tech-savvy and beginners have different responses. This is why there are advanced and basic UIs meant to cater to that. For advanced mode check out Bonfida Bots.
Serum API
On-chain transactions also have a suitable storage platform under the banner REST API. It’s a sound platform secured with advanced settings.
Solible Exchange
Bonfida brings to you an ultimate bridge with Non Fungible Tokens (NFTs) exchanges. Solible exchanges are connected Ethereum networks.
Things to consider before buying FIDA
FIDA is a clear resemblance of innovative and creative developers. It’s the new deal when it comes to DeFi ecosystem management and governance. Before you purchase or think of even buying FIDA, make sure that you follow the tips below.
Know more about FIDA
Research is very important before you start to think of real investing. Make sure that you scrap every detail there is to know about FIDA and the host Bonfida.
Use reputable exchanges
Using well-known exchanges is a step in the right guarantee direction. Binance has many options when it comes to key transactions. Sticking to well-known crypto exchanges is the best possibility. Binance DeFi wallet is also a good storage platform though some chose hardware wallets.
Who are Bonfida creators?
This is one of those prime questions that you should ask yourself. Knowing men behind the work is very good for trading and guarantee. You can invest with ease.
Where to store FIDA token
Hardware wallets
Examples of hardware wallets include paper wallets, offline wallets, USBs, Trezor, Keepkey, and Ledger. With top-notch encryption, private keys are kept safe.
Since they operate offline, users rest assured of hacking and scamming schemes. Hardware wallets are specified by other crypto masters as “long-term wallets” meaning that digital assets are legible for prolonged storage on hardware wallets. When purchasing hardware wallets source a reputable producer to ensure a guarantee.
Hot wallets
Unlike hardware wallets, hot wallets operate on a browser capacity. This means that traders and users should be connected to the internet for accessibility.
Examples of hot wallets are cloud-based wallets, exchange-based wallets, and virtual wallets. Though hot wallets are fast and flexible they, however, turn out to be vulnerable, all because of prime connection to the internet.
Privacy and security tips
Every crypto-based transaction should be under a protection radar. Some factors should be placed into consideration before traders start to talk about investing and purchasing FIDA. Let us look at them in detail.
Do not share passwords
Let us throw a piece of statistics. In the USA, three-quarters of the crypto traders use the same crypto account password for other accounts ie. social media, and bank accounts. This is a jeopardy move. Hackers can track your password trend and penetrate your account. Try as much as possible to use different passwords with no links whatsoever.
Change passwords momentarily
This is a primary step towards account security and trading safety. Using the same password again and again for a long time can get back and haunt you. It should be customary and mandatory for all traders to change passwords regularly.
Do not use public networks
Yes, some public networks might prove to be very strong and efficient when it comes to trading and transacting but that’s very bad for account and wallet safety.
Public domain networks are used by many people and you do not know who is on the other side.
F.A.Qs
Q. Can I Buy Bonfida (FIDA) with PayPal?
Purchasing FIDA is possible when you purchase bitcoin or ethereum first and then use the balance to swap for Bonfida.
For easy access to bitcoin use LocalBitcoins because agents in need of PayPal payment methods are available there.
Q. What Is the Best Payment Method to Buy Bonfida (FIDA)?
Bank accounts are better or using direct Bonfida purchases. However, many traders use credit cards because they are fast though they come with hefty charges.
Q. How do I Protect my Bonfida (FIDA)?
Use a reliable offline wallet.
Q. What is the best place to buy FIDA?
Binance platform is recommended.
Conclusion
Bonfida is proving to be the dominant 2021 DeFi exchange platform. All there is to know about Bonfida and all its projects have been brought to light.
Starting up is pretty simple. Many traders across the world are using Bonfida for its exciting super-fast transactions. It is proudly showing that at some point, in the near future, Bonfida will become the dominant force.
