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 GUSD on BYDFi. We'll guide you through it
Choose how to purchase GUSD 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 (GUSD). 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 GUSD 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 GUSD 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 GUSD 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 GUSD
Trade
Answers
What Is Gemini Dollar (GUSD)?
The Gemini Trust Company (Gemini) is a digital currency exchange and custodian that allows you to buy, sell and store digital assets, founded in February of 2014. The GUSD is created by the cryptocurrency exchange Gemini.
The company received approval from the New York Department of Financial Services or NYDFS to launch the stablecoin in September of 2018. The Gemini Trust Company holds USD deposits that correspond to the number of tokens that are in circulation.
When it comes to the Gemini Dollar itself, it is an ERC-20 token that is built on the Ethereum network and has smart contracts that are audited by the security company Trail of Bits Inc.
This dollar is intended to bridge the divide between traditional finance and the crypto industry, due to the fact that this specific stablecoin is completely regulated by the NYDFS.
Who Are the Founders of Gemini Dollar?
What Makes Gemini Dollar Unique?
The Gemini Dollar is the first U.S. dollar-backed stablecoin to get backing from a U.S. regulatory body. It is an ERC-20 token that is built on Ethereum.
The Gemini Dollar differentiates from Bitcoin and other traditional cryptocurrencies in the way that it is able to maintain a steady value. This is unlike Bitcoin, for example, which can have extreme price fluctuations. To achieve this stability in terms of value, there are certain things that are deployed. This can be done through advanced computation, or binding a value to underlying assets such as fiat currencies such as USD, EUR or even gold. The Gemini Dollar is designed to provide a transparent regulatory complaint connection between the traditional financial systems and the blockchain industry as a whole.
How Many Gemini Dollar (GUSD) Coins Are There in Circulation?
The Gemini Dollar can be traded on 41 exchanges and had an all-time high value of $1.3435.
To verify that the necessary 1:1 peg is backed by dollars, the deposit balance at Gemini's U.S. bank is examined on a monthly basis by LLP, BPM, and independently registered public accounting firms.
How Is the Gemini Dollar Network Secured?
The Gemini Dollar is an ERC-20 token that is built on the Ethereum network. It has smart contracts that are audited by security company Trial of Bits Inc.
All of the private keys that are used to sign cryptocurrency transactions are custodied offsite in the secure, guarded and geographically distributed facilities on a cloud storage system.
The keys exist on hardware security modules also known as HSMs that meet or exceed U.S. government computer security standards such as FIPS 140-2 Level 3.
Multisignature technology, also known as multisig, is also implemented and provides an added layer of security from attacks and increased fault tolerance.
Multiple signatories are required in order to transfer funds out of cloud storage. This means that Tyler Winklevoss and Cameron Winklevoss are unable to individually or jointly transfer customer funds into or out of the hot wallet or cloud storage system.
Where Can You Buy Gemini Dollar (GUSD)?
Gemini Dollar or GUSD can be purchased, sold and traded on several exchanges, including:
Gemini
Coinbase
Bitstamp
Uniswap
DigiFinex
OKEx
If you are interested in learning to purchase cryptocurrencies but do not know where to start, we have the perfect guide for you.
