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 ETH on BYDFi. We'll guide you through it
Choose how to purchase ETH 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 (ETH). 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 ETH 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 ETH 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 ETH 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 ETH
Trade
Answers
Is Ethereum a Good Investment?
Is Ethereum a good investment? As the second-largest cryptocurrency, Ethereum offers high liquidity and trading volume. Its lower price makes it more accessible for retail traders. Ethereum's largest ecosystem for dApps, DeFi, NFTs, and blockchain gaming makes it highly versatile for web3 adoption.
Furthermore, Ethereum has the potential to become deflationary as its circulating supply reduces through token burns. If the circulating supply of ETH starts to decrease, its investment value could increase, leading to an uptrend in the Ethereum price.
However, it's important to note that the current price of Ethereum is subject to high levels of unpredictability and volatility. You should assess your risk tolerance and perform technical analysis and fundamental analysis to make an informed investment decision.
What Factors Influence Ethereum (ETH) Price?
While we cannot reliably offer an Ethereum price prediction for any timeframe, you could monitor several factors to understand the price trends in ETH, including:
Level of On-chain Activity on Ethereum Network
The level of network usage and adoption of Ethereum's blockchain platform can impact its price. Higher use and adoption, including the number of active users, dApps built on Ethereum, and transaction volume, can positively influence the price of Ethereum. It reflects the growing utility and value of Ethereum network.
Ethereum's Technological Upgrades and Developments
Ethereum is a dynamic platform that undergoes regular technological developments and upgrades. Significant upgrades, such as the transition from Proof of Work (PoW) to the Proof of Stake (PoS) consensus mechanism (Ethereum 2.0), could generate positive market sentiment and drive up the price of Ethereum.
Impact of External Factors on Ether Price
Regulatory developments and changes in the legal landscape surrounding cryptocurrencies can impact Ethereum's value. Broader macroeconomic factors, including inflation, monetary policies, economic stability, and geopolitical events, can indirectly impact the ETH price.
Crypto Market Sentiment
The broader cryptocurrency market trends often influence the Ethereum price. Major market sentiment, such as a bull or bear market, can impact the value of Ether (ETH) as it is interconnected with other cryptocurrencies. News and events that affect the cryptocurrency industry as a whole can have a cascading effect on the live price of Ethereum.
Why Has Ethereum Transitioned From Proof of Work (PoW) to Proof of Stake (PoS) Consensus?
Ethereum's shift from a proof of work (PoW) to a proof of stake (PoS) consensus algorithm showcases its commitment to environmentally friendly and cost-effective solutions. This significant transition has greatly improved the energy efficiency of Ethereum's blockchain, reducing energy consumption by an impressive 99.95%. By adopting PoS, Ethereum demonstrates its dedication to environmental responsibility while also enhancing accessibility and affordability for users on its dApp platform.
Furthermore, the adoption of PoS allows Ethereum developers to address the longstanding scalability issue. Through the incorporation of sharding capabilities, Ethereum's blockchain can achieve higher throughput by processing transactions in parallel, leading to reduced gas fees and improved scalability. This groundbreaking move sets a new standard for responsible blockchain operations and paves the way for a more inclusive and environmentally conscious future in the realm of decentralized applications.
How Will PoS Transition Reduce Ethereum Gas Fees?
While the transition to PoS consensus may have a limited effect on gas fees, Ethereum's roadmap includes crucial upgrades that tackle network congestion. By introducing sharding, Ethereum will enhance scalability, reduce congestion, and pave the way for lower transaction fees in the future. As Ethereum continues to evolve and optimize its infrastructure, users can look forward to a more efficient and cost-effective blockchain experience.
Although the PoS transition has undoubtedly made the Ethereum network significantly more efficient in energy consumption, experts caution that it won't immediately impact gas fees. However, this critical network upgrade lays the foundation for overall efficiency improvements within the Ethereum blockchain.
As part of the Ethereum 2.0 roadmap, the Ethereum Foundation will address the long-standing network congestion issue through sharding. Sharding enables parallel processing of transactions, thereby reducing network congestion and decreasing transaction fees.
How to Stake Ethereum?
Are you wondering how to stake Ethereum (ETH) and unlock a lucrative source of passive income while contributing to the enhanced security of the Ethereum blockchain? By becoming a validator, you can store data, process transactions, and add new blocks to the network, all while earning block rewards. Let's explore the process of staking ETH:
Become a Validator on the Ethereum Network
To become a full validator, you need to stake 32 ETH, which grants you the authority to perform crucial tasks such as processing transactions and adding new blocks. In return for your contributions, you earn block rewards, making ETH staking an attractive opportunity.
Participate in Staking Through Platforms Like BYDFi Earn
If staking 32 ETH seems daunting, don't worry. You can still participate in Ethereum 2.0 staking and earn rewards by staking less than 32 ETH in a staking pool. Staking pools allow you to combine your resources with other participants, increasing your chances of earning rewards and reducing the barrier to entry, all while generating liquidity.
Are you ready to stake ETH conveniently and safely? Head to BYDFi Earn, where you can view our latest offerings and APRs. Subscribe to the program of your choice, put your Ether tokens to work, and start earning passive income.
