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 NEAR on BYDFi. We'll guide you through it
Choose how to purchase NEAR 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 (NEAR). 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 NEAR 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 NEAR 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 NEAR 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 NEAR
Trade
Answers
Is NEAR Protocol (NEAR) a Good Investment?
NEAR Protocol has garnered significant attention from the crypto investment community, particularly in late 2021, when it demonstrated impressive growth. During a period when many cryptocurrencies were facing bearish trends, NEAR Protocol managed to stand out with positive gains.
The optimism surrounding NEAR's potential as a digital asset investment has been further fueled by the launch of the Aurora Ethereum Virtual Machine (EVM). This innovative feature brings Ethereum compatibility to the NEAR ecosystem, offering the advantage of lower transaction fees.
The introduction of the Rainbow Bridge also enhances the interconnectivity between NEAR Protocol and Ethereum, the largest ecosystem for dApps globally. This development makes NEAR Protocol an enticing platform for developers seeking to create innovative solutions.
The EVM compatibility and interconnectivity with leading blockchains like Polkadot and Cosmos positions NEAR Protocol as an exceptionally scalable and capable platform for fostering innovation within the Web 3.0 space. As dApp developers increasingly adopt its ecosystem, the on-chain activity on the NEAR network is expected to rise, potentially leading to an upward trajectory in the NEAR Protocol price.
How High Can NEAR Protocol Price Go?
In the highly volatile world of cryptocurrencies, offering an accurate NEAR Protocol price prediction is challenging. However, several factors suggest a promising outlook for the NEAR price, particularly amidst the growing enthusiasm surrounding Web 3.0 technologies.
The price of NEAR Protocol reached an impressive all-time high of over $20 in January 2022, although it experienced a subsequent decline due to fluctuations in market sentiment. Despite this, the project boasts strong fundamentals that can pave the way for another upswing in the NEAR price. Much of this trajectory will depend on investors overall sentiment toward cryptocurrencies.
The NEAR Protocol price and market capitalization have the potential to soar to new heights, driven by the positive market sentiment and the increasing adoption of its ecosystem by various projects and users. Furthermore, the NEAR network's interconnectedness with a broader range of blockchain ecosystems can significantly enhance its scalability, making it an even more appealing platform for dApp developers and their projects. This, in turn, could propel the NEAR to USD price and market capitalization to new heights.
What Is NEAR Token Used for?
NEAR is the native cryptocurrency of the NEAR Protocol ecosystem and has the following use cases:
Pay Transaction Fees
NEAR tokens are used to pay transaction fees on the NEAR blockchain. This includes fees for executing smart contracts, transferring tokens, and interacting with dApps on the platform.
Validator Staking
NEAR tokens are used for staking by network validators. Validators are responsible for securing the network, validating transactions, and maintaining consensus. They must hold and stake a certain number of NEAR tokens as collateral to participate in this process.
NEAR utilizes a Delegated Proof of Stake (DPoS) consensus mechanism. Token holders can delegate their NEAR tokens to validators of their choice, giving them more voting power and influence in the network's decision-making processes.
Decentralized Governance of NEAR Protocol
NEAR token holders can participate in the governance of the NEAR Protocol. They can vote on proposals and changes to the network's protocol, making decisions collectively about its future development and upgrades.
Access dApps in NEAR Ecosystem
Within the NEAR ecosystem, many decentralized applications require NEAR tokens for various functions, such as accessing premium features, participating in governance-related activities within the dApp, or making in-app purchases.
Incentive Token
NEAR tokens are often used as incentives to reward users, developers, and community members who contribute to the growth and development of the NEAR ecosystem. This can include rewards for staking, participating in network activities, or contributing to the ecosystem's expansion.
Trade or HODL NEAR on BYDFi
Trade NEAR Protocol token against other cryptos on the BYDFi Spot Market to make the most of changing market conditions and volatility. Buy or sell NEAR or hold the token long-term if you believe in the future potential of the NEAR Protocol project. Conduct thorough research and consider your financial goals and risk tolerance before making investment decisions in the cryptocurrency market.
Where can I stake NEAR Protocol (NEAR)?
If you're looking to stake your NEAR Protocol (NEAR) tokens and earn rewards, there are three primary avenues to explore:
Official NEAR Wallet
In January 2022, NEAR introduced an innovative validator model for its Proof-of-Stake blockchain, allowing network validators to earn rewards for their contributions. To participate in network governance and stake your NEAR tokens, consider using the official NEAR Wallet. Here's how:
> Access the official NEAR Wallet.
> Choose your preferred validator ID.
> Opt to stake your NEAR tokens with a validator of your choice.
It's worth noting that when you stake using the official NEAR Wallet, you'll receive rewards in the form of $AURORA tokens.
DeFi Apps
NEAR has gained popularity as a staking token within the decentralized finance (DeFi) space. Numerous DeFi projects offer NEAR staking, providing you with various options. To get started:
> Conduct an online search to identify DeFi projects that support NEAR for staking.
> Select the DeFi protocol that aligns best with your staking preferences.
> Initiate the staking process for your $NEAR tokens with the chosen DeFi platform.
Stake NEAR on BYDFi
Staking NEAR tokens on BYDFi offers a straightforward and convenient option. Follow these steps:
> Navigate to the BYDFi Earn section on the BYDFi exchange platform.
> Locate NEAR crypto in the list of available options.
> Before proceeding, check the latest Annual Percentage Rates (APRs) to gauge the potential rewards.
> Select the staking option that aligns with your risk tolerance and investment goals.
How to Add NEAR Protocol to MetaMask
Heres how to seamlessly integrate NEAR Protocol into your MetaMask account. Before proceeding further, ensure youve created a MetaMask wallet if you are a new user.
To connect MetaMask with NEAR Protocol, you must change the connected blockchain from the default Main Ethereum Network to the Aurora Network. Here's how you can do it:
1. Open MetaMask: Launch your MetaMask extension or app and ensure you're logged in.
2. Access Custom RPC: Locate and click on the network selection box. Instead of choosing a pre-existing network, select Custom RPC to manually configure the Aurora Network settings.
3. Enter Network Settings: Now, you'll need to input specific network details for Aurora Network as follows:
> Network Name: Set this to Aurora Mainnet.
> New RPC URL: Enter the following URL: https://mainnet.aurora.dev
> ChainID: Input the ChainID as 1313161554.
> Symbol: Specify the symbol as aETH.
> Block Explorer URL: For this, input the following URL: https://explorer.mainnet.aurora.dev
4. Save the Configuration: After confirming that all details are correctly entered, click the Save button to confirm and save the Aurora Network configuration.
How to Bridge to NEAR Protocol
In April 2021, the NEAR team introduced the Rainbow Bridge, a groundbreaking solution to facilitate the seamless transfer of ERC-20 tokens between Ethereum and NEAR Protocol. Here's a detailed guide on how to effectively utilize NEAR's Rainbow Bridge for your cross-chain bridging needs:
Open the Rainbow Bridge App
To begin your journey across blockchains, launch the Rainbow Bridge app. It serves as the gateway to initiate and manage your cross-chain transfers.
Connect Your MetaMask Wallet
Next, connect your MetaMask wallet and your Rainbow Bridge account. This connection is vital for the execution of transactions across different blockchain networks.
Ensure Adequate Funds in Your Wallet
Before initiating a bridge transaction, ensure that your wallet contains sufficient funds. You'll need a minimum balance of 0.05 ETH to commence the bridging process. Having this balance guarantees a smooth start to your cross-chain venture.
Choose Source and Destination Blockchains
Within the Rainbow Bridge app, you'll encounter two essential dropdown menus:
> Transfer From: Select your source blockchain from the available options, including Ethereum, Aurora, and NEAR.
> Transfer To: In the second dropdown, specify your destination blockchain.
Choose your desired source and destination blockchains based on your specific bridging requirements.
Initiate a New Transfer
Once you've configured your source and destination blockchains, it's time to kickstart the bridging process. Click the "Begin New Transfer" button to proceed. Remember to check the corresponding box for accuracy if transferring funds from your wallet to another address.
Select the Token and Quantity
On the subsequent page, you can choose the token you wish to bridge from one network to another. Enter the number of tokens you intend to bridge and click "Continue" to proceed.
Review and Confirm the Transaction
Before finalizing your transaction, review all the essential details, including transaction fees and token quantities. Once you're satisfied that everything is accurate, confirm the transaction within your MetaMask wallet.
