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 DFI on BYDFi. We'll guide you through it
Choose how to purchase DFI 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 (DFI). 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 DFI 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 DFI 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 DFI 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 DFI
Trade
Answers
Is DeFiChain (DFI) a Good Investment?
DeFiChain has gained recognition for its unique approach to decentralized finance (DeFi) and its focus on providing financial services to individuals and businesses in developing countries. This aspect may contribute to its long-term relevance, making it an interesting asset to include in your crypto portfolio and supporting the DFI price.
DeFiChains community-driven governance model encourages community involvement and empowers users to shape the platform's future. This participatory approach can create a sense of ownership and engagement among community members, boosting the value of the DeFiChain project.
The price of DeFiChain crypto could also head higher as the market sentiment toward cryptocurrencies improves. A bullish attitude among global financial investors encourages buying activity, increasing the DFI to USD price in the market.
What Is the DeFiChain Price Prediction?
Although we cannot provide an accurate DFI crypto price prediction over any duration, several factors could offer insights into the price action of the DeFiChain token:
Market Conditions
Cryptocurrency markets are known for their volatility, and overall market trends and sentiment can influence the price of DeFiChain. Factors such as investor demand, trading volume, and liquidity can impact the DFI value.
Future Developments in the DeFiChain Ecosystem
Updates and advancements within the DeFiChain ecosystem can impact the price of DFI. Positive developments like partnerships, technological upgrades, new product releases, or platform functionality improvements may generate increased interest and demand, potentially driving higher prices. Conversely, negative news or setbacks could harm the DFI price.
Crypto Market Sentiment
The broader trends and sentiment in the cryptocurrency market can also influence the price of DeFiChain. Factors such as regulatory developments, macroeconomic conditions, market speculation, and the performance of other cryptocurrencies can indirectly affect the price of DFI.
What Is the DFI Token Used For?
The DFI token is the native cryptocurrency of the DeFiChain ecosystem and serves multiple purposes within the network, such as:
Conduct Transactions on the DeFiChain Network
The DFI token can facilitate transactions on the DeFiChain network. Users can utilize DFI tokens to send and receive value within the ecosystem.
Incentive Token in the DeFiChain Ecosystem
The DFI token acts as an incentive for users to participate in the DeFiChain ecosystem. By holding and staking DFI tokens, users can earn rewards, such as additional DFI tokens, for contributing to the network's security and functionality.
Governance Token for the DeFiChain Platform
DFI token holders have the ability to participate in the governance of the DeFiChain network. They can vote on proposals and decisions that shape the direction of the platform, allowing token holders to have a say in its future development.
Create and Transfer Tokens on the DeFiChain
DFI tokens are used to pay for creating and transferring other tokens within the DeFiChain network. When users create new tokens or transfer existing tokens on the platform, they typically need to pay a fee using DFI tokens.
Collateral and Borrowing
DFI tokens can also be used as collateral for borrowing other assets within the DeFiChain ecosystem. Users can lock up their DFI tokens as collateral to access loans or borrow other cryptocurrencies on the platform.
Trade and HODL DFI on BYDFi
Trade DeFiChain token on the BYDFi Spot Market to profit from changing market conditions and volatility. Buy or sell DFI, or hold the token long-term if you believe in the future of the DeFiChain project. Consider conducting thorough research and analyzing market trends before making investment decisions.
How to Stake DFI on DeFiChain
You can stake DFI on DeFiChain in two ways: setting up a masternode or using a third-party staking service provider. Setting up a masternode allows you to participate in the consensus protocol and receive staking rewards. However, please note that you need a minimum of 20,000 DFI to set up a masternode on DeFiChain.
Heres more on staking DFI on DeFiChain as a masternode:
1. Set up a DeFiChain wallet and add funds by buying DFI on BYDFi or other supported platforms and transferring your tokens to your wallet.
2. Ensure you have sufficient DFI tokens, as the minimum requirement for setting up a masternode is 20,000 tokens.
3. Install and configure a node according to the technical guide provided by DeFiChain. Refer to this guide for detailed instructions on how to set up a masternode.
4. Once your masternode is set up and running, you can stake your 20,000 DFI tokens and participate in the consensus protocol. In return, you will receive staking rewards for contributing to the network.
What Is DeFiChain Tokenomics?
According to the DeFiChain official documentation, the maximum supply of DFI is fixed at 1.2 billion, of which a little over 1 billion has already been minted. The circulating supply of DFI as of May 2021 is just over 704 million.
Based on the whitepaper, the DFI token distribution is as follows:
1. 49% of the maximum supply of DFI was earmarked as the initial supply. This included 26% of DFI tokens that were airdropped, 27% burned, and 47% destroyed.
2. Over time, the remaining 51% of DFI tokens will be issued to masternode holders.
