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 FEI on BYDFi. We'll guide you through it
Choose how to purchase FEI 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 (FEI). 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 FEI 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 FEI 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 FEI 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 FEI
Trade
Answers
What Is Fei Protocol (FEI)?
Fei Protocol is a DeFi native algorithmic stablecoin that aims to provide a technological solution between overcollateralized decentralized stablecoins and centralized custodial stablecoins. It operates with two crypto assets: FEI stablecoin and TRIBE governance token. FEI is designed to be a capital efficient and fully decentralized stablecoin that maintains liquid secondary markets and earns yield for the protocol. The project attracted significant interest and received $19 million VC investment from prominent names in the crypto community.
Despite some initial issues with the peg, the protocol recovered through governance upgrades. The upcoming Fei v2 is expected to be a major upgrade, featuring 1:1 redeemability for FEI, TRIBE buybacks and backstop, and algorithmic protocol-controlled value management.
Who Are the Founders of Fei Protocol?
Fei Protocol was founded by Joey Santoro, Brianna Montgomery, and Sebastian Delgado. Joey Santoro, the founder and CEO of Fei Labs, has a background in software engineering and crypto. Brianna Montgomery, the project's business lead, has experience in business development and marketing in the blockchain industry. Sebastian Delgado, the third co-founder, has worked as a software engineer at Dharma Labs and Uber. The project has received backing from notable VC funds such as Nascent Capital, Andreessen Horowitz, Coinbase Ventures, and Naval Ravikant.
How Many Fei Protocol (FEI) Coins Are There in Circulation?
Fei is a stablecoin with a flexible total supply that adjusts based on demand. As of October 2021, the circulating supply exceeds 600 million FEI tokens.
Where Can You Buy Fei Protocol (FEI)?
FEI is freely tradable and available on various exchanges, primarily decentralized exchanges due to the protocol's focus. Some of the exchanges where FEI can be traded include Uniswap, 1INCH, Gate.io, and Ox. FEI can also be bought or sold through the Fei Protocol website, with existing trading pairs including Ethereum, Tether (USDT), and other coins. It is important to conduct your own due diligence when choosing a crypto exchange.
If you are interested in learning more about buying Bitcoin or other cryptocurrencies, you can refer to our starter's guide and explore the top DeFi tokens by market capitalization.
