How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase CKB on BYDFi. We'll guide you through it
Choose how to purchase CKB on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (CKB). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store CKB in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your CKB to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy CKB on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive CKB
Trade
Answers
Is Nervos Network a Good Investment?
Nervos CKB token could be an interesting crypto asset to invest in, especially if you believe in the potential of Web3 and scalable blockchain ecosystems. The project is designed to provide innovative solutions to make dApps more scalable and suited for real-world applications.
The rising mainstream adoption of Web3 technology could increase the demand for robust ecosystems like Nervos, supporting the CKB token price in the market. An increase in developers building dApps on Nervoss layer-1 and layer-2 solutions could drive up the demand for its CKB token and increase the value of Nervos token as an investment.
The Nervos Network price could also increase as developers roll out new upgrades and additional features that make the blockchain more attractive for developers and consumers. This could further drive up on-chain activity and increase the value of CKB crypto.
Can Nervos Network Reach $1?
The CKB token price trades well under the $1 mark as of March 2023, below its all-time high price of $0.04412. One of the reasons for this value is the extremely high circulating supply of the $CKB crypto, which stands at just under 40,000,000,000.
For the Nervos Network price to reach $1, the projects market cap could touch $40 billion - an extremely high valuation. Suppose the developers implement token-burning mechanisms or update the CKB tokenomics to reduce the tokens total supply. In that case, the price of Nervos CKB could cross the critical level of $1 in the future.
While it is impossible to offer an accurate CKB price prediction over any duration, several fundamentals can substantially impact the Nervos token's value. Some factors to monitor include the level of adoption of the blockchain by developers and users, future developments such as network upgrades, investments, partnerships, and integrations, and the overall sentiment in the crypto market.
What Is CKB Token Used For?
CKB is the native token of the Nervos CKB layer-1 network. It has the following use cases:
Store of Value
You can invest in and hold CKB, treating it like a store of value similar to Bitcoin. This is especially effective if you believe in the long-term potential of the Nervos blockchain and token and practice HODLing as a strategy to grow your crypto portfolio.
Utility Token
CKB is required to pay for storage on the Nervos Network, with 1 CKB giving you access to 1 byte of storage on the decentralized network. You can also use CKB to pay for executing smart contracts and storing or renting space on the blockchain.
Mining
As a PoW blockchain, the Layer-1 Nervos blockchain relies on miners to validate transactions and produce new blocks that record the transactions and mine CKB coins. Learn more about how to mine CKB in this official guide.
Crypto Asset to Trade
Trade Nervos CKB against other cryptocurrencies to profit from changing market conditions and volatility. Check the current price of Nervos Network, CKB current market cap, current circulating supply, and 24-hour trading volume, and perform technical, sentiment, and fundamental analysis on the CKB price chart before trading Nervos coin.
Earn Passive Income on BYDFi
You can also grow your CKB holdings securely and efficiently with BYDFi Crypto Lending. Visit this section of our platform to lend liquidity in CKB to BYDFi and earn attractive daily interest over seven days, 14 days, or 28 days.
How to Stake CKB on Nervos Network
CKB holders can lock their tokens in the Nervos DAO to participate in the decentralized governance mechanism of the blockchain and earn yield to grow their portfolio. Heres how to stake CKB on Nervos DAO:
1. Visit the Portal Wallet - the official wallet of the Nervos ecosystem, and connect your MetaMask wallet to the dApp. Ensure your wallet is sufficiently funded with tokens by buying Nervos tokens on BYDFi or other supported platforms and withdrawing them to your wallet.
2. Click on the DAO option under the Assets tab on the homepage.
3. Enter the number of CKB tokens you wish to lock for yield in the Nervos DAO on the next page after reviewing the latest Annual Yield Rate.
4. Confirm the transaction using your wallet.
5. Sit back, earn rewards, and grow your holdings by staking CKB on the Nervos DAO.
What Consensus Algorithm Does the Nervos Network Use?
Nervos uses a Proof-of-Work (PoW) consensus algorithm called NC-MAX, based on Bitcoins Nakamoto consensus. The proprietary consensus mechanism offers exemplary levels of security and decentralization while using network bandwidth most efficiently.
The Nervos consensus algorithm builds on Bitcoins consensus to offer better block propagation, throughput, and resistance to efforts of selfish mining. By opting for PoW over Proof-of-Stake (PoS) consensus, Nervos also overcomes potential challenges such as attempts of monopolization in the future, superior security, and deterministic rewards for network nodes.
Unlike Bitcoins PoW consensus, however, the Nervos Networks NC-MAX consensus mechanism offers higher throughput and lower confirmation times and leverages layer-2 solutions to increase the ecosystems TPS exponentially. The layer-1 Nervos network offers a transaction processing speed ten times faster than Ethereum.
How to Add Nervos Network to MetaMask
MetaMask is one of the most popular Web3 wallets in the crypto market and supports the EVM-compatible Nervos blockchain. Heres how you can connect Nervos to MetaMask:
1. Create a wallet on MetaMask if you are a new user, and configure it by obtaining your seed phrase and storing it securely.
2. Click on the circle on the top right of your MetaMask wallet account and head to Settings.
3. Click on Networks on the next page and scroll down to click the Add a network button.
4. Select the option to add a network manually and enter the following details:
i. Network Name: Godwoken Polyjuice Mainnet
ii. New RPC URL: https://mainnet.godwoken.io/rpc/eth-wallet
iii. Chain ID: 71394
iv. Currency Symbol: CKB
5. Click on Save to successfully add Nervos Network to your MetaMask wallet.
