You are probably wondering what TRIBE is all but not to worry about that because this article will touch on each and every vital aspect you need to know about TRIBE. It is actually a token based on ethereum. Its major task according to designers and developers is to govern and also update FEI protocol.
These are the two basic mantras of TRIBE but there is a lot on the plate including the decentralization set up FEI protocol, where to buy Tribe token, the best place to tribe token, and all the superpowers bounded in FEI protocol. Before we delve into our next segment, FEI has the ultimate ability to change and switch FEI stablecoin and all monetary processes that move with it.
Luckily for clients from all over the world, FEI protocol has managed to launch DAO which lay on a decentralized platform also not forgetting that Tribe tokens hold that keep a watchful eye on the progression of DAO. Let us look at TRIBE token quick guide.
A quick guide on buying Tribe (TRIBE)
Remember that Tribe is a cryptocurrency-based operation and this simply calls for everyone to obtain Bitcoin or Ethereum first. Why these two? It is because of huge market control ability and reputation. Luckily for users, this article will detail the best place to buy cryptocurrency with a debit or with PayPal. We shall also look at how best one can purchase cryptocurrency using USD and other currencies. As an example for an exchange, we shall use Binance which was launched in 2017.
Step 1: How to create a Binance account
Phishing has been on the rise of late meaning that many clients have unfortunately fallen victim to biased and scam-ridden replicas of the original Binance account. Make sure that you verify, assess properly, and authenticate that specific URL. Check out the secure certificate.
It is not hard to notice because it usually pops up on the screen or address section to be exact. A secure certificate is more of an approval document of the site but as we said they can be compromised. Another important tip is to check if your bookmark is legally authenticated. That way you are free from confusion because trading can be tough sometimes and pressurized.
1.2 Fill in your trading details
This is the registration segment. You have to provide your mobile number and active email address. The process is not very long, it should take you a few moments. Another tip on providing details, use your active email which is very flexible and secure at the same time. That way you are good to go and use it for Binance account creation. Fairly important is a provision of a strong password. Make sure that you follow all the specific character requirements. When all has gone well, you will receive a verification code on your device.
1.3 Allow 2FA-Two-factor authentication (Optional)
The 2FA security system is the ultimate selection for most crypto-based trades. Make sure that you activate it as soon as you affect your first log in. Reminder, 2FA is very helpful and has an amazing track of protecting your digital assets against hacking. As a security measure, each and every time you access your Binance account, you use a unique and totally new code. Unique codes are compatible with the Google authenticator application. Luckily for many clients and traders, Google authenticator can be downloaded without any hassle and you can upload on Android and iOS devices.
Step 2: Buying your first Bitcoin (BTC)
There are many ways to transfer fiat to a cryptocurrency wallet. Traders can use debit or credit cards, Swift, or through a bank transfer. However, in this segment, we will show you how to use credit cards.
It is unfortunate for clients back then because they were not able to use credit and debit cards through it’s now possible. Thanks to a reputable wireless firm called Simplex, a tech focusing on issues to do with proper wireless transfers. So to kick start, we advise you to obtain Bitcoin first and then use that amount to purchase fair amounts of Tribe coins.
Do not worry, the process of purchasing crypto using fiat is very simple. When you reach out to the homepage, opt for ‘buy crypto’ and activate the drop-down menu. Select your currency of choice and then choose debit/credit card. Once you have done that, you shall see the rate page. The rate page shows you how much Bitcoin obtained from your fiat currency amounts. So in simple terms, the actual amount of money will be paired with the equivalent amount of Bitcoin.
All the necessary fees will be explicitly outlined on the page. To make it easier on charges, set an automatic tag that will be used to calculate the entire order. Now, select ‘Buy Bitcoin’. Next, you will see details pertaining to your order. Remember there are disclaimers and terms to which you must abide by so check them out before approving your transaction.
Once you are gratified, opt ‘go to payment’. This is the moment you provide your credit card details and all the required personal details to effect transaction fulfillment. Verify your details and select ‘pay now’. After you select pay now, wait a bit for a detailed evaluation. If you are a newbie to Simplex payments, check out your email and copy a sent code. Send it back through SMS.
This phase is also responsible for email and phone number verification. After verification, select ‘continue’ and then move to the next step. Now that you successfully completed three-quarters of the steps, upload your respective ID document photo coupled with personal information and submit through ‘upload document’. That document is your official identity.
The last process is a broad verification and evaluation of your personal details. Once they are done, you will receive a confirmation in your email. Check your Binance account and your purchased Bitcoin or Ethereum would have already been credited.
Step 3: Transferring Your Cryptos to an Altcoin Exchange
In this segment, we will show you the fundamental process of purchasing TRIBE using Bitcoin. However, Binance limits some crypto selections so we should use another exchange called Gate.io. By using Gateio we will be showing you how to trade altcoins. The process of registering under Gateio is also the same as the one we outline on Binance.
Step 4: Depositing BTC to Exchange
The moment that you manage to create a trading platform on your exchange of choice (gate.io), you are now able to send Bitcoin to effect TRIBE trading. Remember, this process should be operated on a wallet base. As soon as you finish up deposits, check out a search box and then insert ‘BTC’. Opt for the deposit button and then copy the address.
At this point, you might feel like the procedure is daunting but as long as you use bank transfer, all will be well. Now, reach out to your Binance account. Once in the account, select’ Wallet’, and when a pop-up message displays, opt ‘fiat and spot’. In other words, it means to withdraw and deposit.
Check out the list, choose Bitcoin, and select withdraw tag located on the right side of the screen. Make sure that you paste the deposit address and choose BTC. Proceedings are further authenticated when you are asked for 2FA. However, this follows when you place the amount you want to withdraw. Once all has been set and done, wait for a few seconds. Blockchain will approve your transaction.
Step 5: Trading Tribe (TRIBE)
This step is all about reaching out for the Bitmax page where you shall facilitate Tribe coin purchase using bitcoin. Opt for cash trading and then look for BTC pair with equivalent TRIBE coins. When your coin has been moved, click on the amount, and from that instant, you will see Tribe/Bitcoin price.
Reach out to ‘market’ which is the easiest method to purchase orders. Another method is to insert your amount of choice or select the bitcoin deposit amount you wish to trade-off. Make sure that you complete the process by clicking the percentage buttons. Verify everything and then select ‘buy tribe’. Congratulations, you have purchased your first Tribe coins!
Exchanges to buy Tribe
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
Next to Binance is Coinbase. By purchasing either bitcoin or ethereum, you are actually setting a good Coinbase takeoff. Coinbase, just like Binance, is one of the bigger and more dominating exchanges on cryptocurrency. An extra package of $10 worth of bitcoin is as a result of purchasing $100 cryptos. To kick-off, insert your email. Account verification is the best because you should use your name. Set a strong password to guarantee safety.
After inserting an email, confirmation will come instantly. Take note, the confirmation contains a link that has a mobile number. 2FA, a two-way authentication process should be used. It is very efficient and has good security measures. Make sure that this feature is always on to ensure long-lasting security.
Verification should be opted for in the next step. Never mind the daunting process, it is just a procedure but it’s just part and parcel of the asset claiming process. Luckily, Coinbase customers are guaranteed safety because it is regulated in the US, UK, and EU. Expect sheer automation and good functionality, all the transactions are automatic meaning customers should not wait for more than 15 minutes.
Step-by-step Buying Guide
- Sign up or sign into Coinbase
- On the upper right-hand side, select buy
- Choose your token/coin from the list of option
- Specify the amount that you want to buy
- Preview the transaction and confirm purchase
- Click Buy to complete your transaction
Established in 2013, Huobi Global has been good at taking up the crypto market by storm. At some point, Huobi had collected $1 trillion. Reaching over 130 countries, Huobi has become a trending exchange in this hub of competitive exchanges. Unfortunately, USA customers can not access it. If you are looking for that Ultimate Mirror Protocol, Huobi is the best option to go for.
Step-by-step Buying Guide
- Click on Buy Crypto
- Choose Buy and select the crypto or fiat that you want to buy
- Select Wallet Balance to use as your payment method
- Confirm all the details and click confirm
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
- 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
Next is Gate.io. This 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
What is Tribe?
It’s really important to have an understanding of TRIBE. As we have mentioned earlier in the wake of this article, TRIBE is a governance tool that was established in 2021. Its main focus is to govern FEI protocol at the same time providing efficient stablecoin. Stablecoins are there to fill up the gap between crypto-backed coins and fiat-backed coins. All tribe holders have the privilege of voting and determining the shape of the stablecoin customizations. We have to say, FEI’s inception in the market has been unconvincing. This is all because of the April launch which brisked the market.
Things to consider before buying ERN
It is very pertinent and cardinal to consider certain factors before diving into cryptocurrency investment. A quality grip of these factors equips clients and traders with so much know-how and alertness. Let us give you these important factors in detail.
As we have mentioned earlier, the FEI launch has been a rocky one. The basic task of stablecoin is to indicate the exact value of a reserve coin in a stable manner. FEI was unable to do that from the get-go, it took them 30 days to successfully achieve stable valuation. Such an unfortunate trend was caused by a malfunction in the sophisticated algorithm which, instead of propelling the FEI token to a stable point rather pushed it away. We, therefore, advise traders to think through the because other options are fairly reputable.
Looking at token distribution, traders should know that 10% of the total TRIBE token tally which has obviously been minted should be kept safe to cover rewards. The percentage tally has caused a lot of skepticism of late but all is being done to benefit traders.
Yes, FEI kick-started its journey on a rocky patch but remember it’s yet to celebrate its first anniversary. We should not judge it negatively because the days are still young. Protocols are very innovative packages but so much hope has been thrown on the table due to a recent massive buy-out by serious players. Traders can shade a smile of hope on FEI’s future prospects.
Where to store TRIBE token
By now you are able to define a cryptocurrency wallet as a portable software package meant to keep safe private keys, digital assets, keep track of asset balances and engage with blockchain services. As always you have to keep all these safe and sound. Let us look at cold and hot wallets, two available storage options.
- there is no connection to the internet
- storage of assets while offline is highly possible
- a wallet is portable and flexible meaning that traders are able to receive digital assets
- examples of cold wallets are paper wallets and external USB storage platforms
- connected to the internet
- easy access
- cloud, mobile, and software-based storage platforms are all under hot wallets
Looking at hot and cold wallets, they can be used at the same time because cold wallets are more appropriate for long-term private key protection while hot wallets are more for short-term transactions.
Hardware wallets are best known for their ability to store private keys intact. Not only are they cold and safe but they are also free from hacks, phishing, scams, and cyber attacks. Hardware wallets facilitate ease of transaction and are perfect platforms for the ultimate support of international currencies.
The process of operation is pretty simple, plugin on your device of choice, access the wallet, and transfer currency of choice. Finish up by approving your transfer. In actual fact, hardware wallets are the most secured and safest forms of asset storage, thanks to their unattachment to the internet.
However, efficiency moves in the same line as cost. Hardware wallets are pretty hefty in terms of operation. Other prominent hardware wallets include Trezor, Keepkey, and Ledger. We have to say, obtaining a hardware wallet is one point that should be taken into account.
Make sure you obtain your hardware wallet from a reputable producer. Such wallets are customizable. It’s not advisable to obtain a wallet from another mere trader because you are really sure.
The stature of your wallet depends on your portfolio because each and every project should have a native wallet. Traders can also opt for multi-currency wallets which support as many currencies as possible. Bitcoin and Ethereum have dominated the scene meaning that many wallets support these two giants. Combine your wallet with a crypto tag, which is efficient to store assets on what are called titanium plates.
As we have mentioned earlier a paper wallet is a storage platform that operates on an offline basis. Bitcoin is not represented in physical form just like many other cryptocurrency options around. Paper wallets are very different from your usual hot wallets because you do not have to update your site or device from time to time.
The paper element is all about ways in which owners can easily reach cryptocurrency. Paper wallets are the basic format of crypto storage and have been used by many traders from the initial inception of bitcoin. We recommend that you use paper wallets just because of their ease of use and amazing levels.
Privacy and security tips
It is very important that you understand the major target points of attack by hackers and scammers. These are:
- crypto wallets
Crypto wallets have the ability to keep private keys. Private is your passport to cryptocurrency operation. This means that when a hacker obtains your private key, they can perform dubious transactions, and it’s pretty unfortunate that you as the actual owner will only be able to endure wallet damages.
As the crypto market is being updated, cybercriminals are finding new ways to break through. You must secure your wallet and account at the same time. Below we have given you a detailed rundown of tips on how to protect your account and wallet at the same time.
i. Secure Your Device
Devices, when purchased have their own update in terms of software packages but it is very advisable to upgrade device software. Also, consider using a reputable anti-virus or a prolific firewall to guard your digital property against hackers.
ii. Use a Cold Wallet
Let us give you a bit of history. In 2019, a reputable research firm under the name BITpoint made a report on a $32 million hack from 50 000 traders around the world. The cause of the unfortunate saga was a hot wallet. What are we saying? Hot wallets are vulnerable and exposed to hacks and scams. Private keys can easily be compromised which is a big blow to the trader. We, therefore, recommend traders to use cold wallets in each and every wallet transaction. This way you have a massive guarantee of safety and privacy.
iii. Don’t Get Phished
Phishing is the latest scamming method that is putting many traders at risk of losing everything. To avoid such unfortunate happenings, do not register on unverified links or dubious connections. Trust your gut always and do go for anything you see on the internet.
iv. Use Secure Internet
There are a lot of good public networks out there but do not be fooled, they are not recommended for trading. Instead, use home-based networks like the VPN option. VPN has proper security systems and reliable browsing storage capacity. So be rest assured of ID and browsing security.
v. Maintain Multiple Wallets
Luckily, there are no wallet limitations when it comes to cryptocurrency trading. This is actually good for traders because the market is full of risks. By creating as many wallets as possible you are spreading the risk. Not only will it reduce chances of loss but the portfolio will be kept safe and sound.
vi. Change Your Password Regularly
Password settings do ask for character ranges like letters and numbers, upper and lower casings. It is very important to change your password on regular basis through the use of 2FA and MFA. These are two renowned authenticators who continue to receive a lot of appreciation from various users and traders. Do not share passwords because you might compromise your wallet operation.
Pros & Cons
- a pure decentralized system which enables digital currencies trading
- no third party inclusion during cryptocurrency trading
- any size of digital tokens are tradable
- interest-earning is top-notch, even when assets are idle
- liquidity is superb
- it’s a bit difficult for beginners
- no direct hard currency payments
TRIBE platform is there to cater for each and every prospective trader across the globe to participate fully in a decentralized crypto trading format. A platform that does not only offer traders a chance to gain governance privilege but to also own and control projects. In the process, charity project owners will have opportunities to gain a lot of rewards.
The fascinating feature is how traders shall gain a lot after spending a little. Traders should shade a smile because soon TRIBE developers will launch Tribe Economy. A development platform for many nations on how to best use Tribe token to their advantage. We hope that the article came in handy when it comes to wallet security.
All you have to know is that the cryptocurrency market is very volatile, vulnerable, and fluctuating. There are many places to buy TRIBE tokens though the process seems to be daunting for beginners. It’s high time you make your first TRIBE token purchase. Ecosystems are waiting for your participation and we recommend that you take part.