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 NFTX on BYDFi. We'll guide you through it
Choose how to purchase NFTX 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 (NFTX). 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 NFTX 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 NFTX 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
Our regular Proof of Reserves (PoR) mechanism ensures that customer funds are backed 1:1 by physical assets. BYDFi was recognized as one of the best cryptocurrency exchanges of 2021 by Forbes and named the Best Cryptocurrency App of 2022 by Ascent.
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 NFTX 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 NFTX
Trade
Answers
What Is NFTX (NFTX)?
NFTX is a community-owned protocol and platform for creating non-fungible token (NFT)-backed ERC-20 tokens. What sets NFTX apart is its ability to power the creation and trading of funds that track sought-after NFT collectibles such as CryptoKitties and CypherPunks. These funds are composable and fungible, making them interchangeable with other tokens. They are actively traded on decentralized exchanges (DEXs) like Sushiswap and Uniswap.
NFTX was launched in early January 2021 to provide indexing services to the booming NFT sector. Its goal is to bring NFTs to high-level individuals trading funds based on leading non-fungible tokens like PUNK and AXIE on Uniswap and other DEXs.
Who Are the Founders of NFTX?
NFTX is a community-controlled platform that allows users to place index funds on the Ethereum blockchain. The project's governance relies on a decentralized autonomous organization (DAO). To prevent monopoly during decision-making, a proposal targeting new changes needs to garner support from 80% of all voting tokens. The voting period lasts for 24 hours.
What Makes NFTX Unique?
NFTX bridges the gap between decentralized finance (DeFi) and NFTs. The platform supports two types of funds: D1 and D2 funds. D1 funds have a 1:1 ratio backing involving an NFT and an ERC20 contract. For example, if Alice owns 1 ZOMBIE-FEMALE, she can redeem precisely 1 Zombie Female at random. D2 funds, also called top-level funds, are Balancer pools that combine multiple D1 funds. For example, the D2 fund AVASTR combines 3 D1 Avastar funds to provide diversified exposure to AVASTR without the need to hold and manage multiple tokens.
NFTX seeks to replicate indexes like DefiPulse or BYDFi, but with an NFT twist. It expands its use case to include the representation of items like digital lottery tickets, in-game items, and digital collectibles in the form of NFTs. However, NFTX charges a fee of 2.5% on burn and mint operations. The platform also plans to offer NFT-ERC-20 loans and on-chain liquidity to further drive growth.
How Many NFTX (NFTX) Coins Are There in Circulation?
NFTX has a total supply of 650,000 tokens. The token distribution includes 10% allocated to the founder, 30% for NFT contributions, 30% for Ethereum (ETH) contributions, 10% for NFTX liquidity, and 20% for farming. The tokens allocated to the founder have a five-year vesting period. Token holders have the right to contribute to the decision-making process.
How Is the NFTX Network Secured?
The NFTX platform is built on the Ethereum blockchain, which is known for its security. Ethereum utilizes both proof-of-stake (PoS) and proof-of-work (PoW) consensus mechanisms. NFTX leverages Ethereum's ERC-20 token standards, which provide diverse and battle-tested security measures.
Where Can You Buy NFTX (NFTX)?
The NFTX token is available on centralized exchanges and DEXs such as Uniswap, 1inch, and Hotbit. On Uniswap, it's paired with wrapped Ethereum (WETH), while on 1inch, traders can choose between Ethereum (ETH), Tether (USDT), and yearn.finance token (YFI). Hotbit offers the NFTX/USDT trading pair. For more details on purchasing cryptocurrencies, click here.
