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 STORJ on BYDFi. We'll guide you through it
Choose how to purchase STORJ 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 (STORJ). 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 STORJ 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 STORJ 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 STORJ 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 STORJ
Trade
Answers
What Is Storj?
Storj is an open-source cloud storage platform that utilizes a decentralized network of nodes to host user data. The platform ensures the security of hosted data through advanced encryption.
In December 2014, Storj was introduced as a concept in a white paper. It aimed to be a decentralized peer-to-peer encrypted cloud storage platform.
Two years later, an updated white paper described a decentralized network that connects users in need of cloud storage space with those who have available hard drive space. The platform was launched in late 2018.
Participants with hard drive space and good internet connectivity become nodes in the network. They are rewarded with Storj tokens for providing storage space.
Who Are the Founders of Storj?
Storj was founded in May 2014 by Shawn Wilkinson, a software developer based in Atlanta. Wilkinson recognized the potential of blockchain technology in building a decentralized cloud storage network.
Together with co-founder John Quinn, the first white paper was published in late 2014. Over time, the concept and details of Storj have evolved. The current version, V3, was launched in mid-2019.
Quinn, with a background in business development and investment banking, joined Wilkinson in incorporating the concept as Storj Labs Inc. in May 2015.
Initially serving as CEO, Wilkinson later transitioned to the role of Chief Strategy Officer (CSO), while Ben Golub took over as CEO. Quinn serves as the Chief Revenue Officer (CRO) and is also a member of the company's board.
In 2014, Storj raised 910 bitcoins, equivalent to about $460,000, in a public crowd-sale. Three years later, they secured $3 million in a seed funding round and conducted a token sale, generating an additional $30 million in the same year.
What Makes Storj Unique?
Storj stands out as a decentralized cloud storage network in several ways. Unlike traditional solutions that rely on huge data centers, Storj runs on a network of thousands of independent computers.
Anyone with available terabytes of space can become a node on the platform by installing Tardigrade. All that's required is a strong and consistent internet connection.
The network's efficiency enables hosts to pay significantly less for storing their data compared to traditional cloud storage services.
How Many Storj Coins Are There in Circulation?
Initially, about 500 million $Storj tokens were minted on the Ethereum blockchain. Following a token sale by Storj Labs, 75 million tokens were burned, resulting in just under 425 million tokens currently in circulation.
In 2017, prior to the token sale, the company reserved 245 million tokens. The token sale itself released 70 million tokens into circulation.
How Is the Storj Network Secured?
Storj Labs Inc. utilizes its Tardigrade software installed on node computers to create and secure user data. This network of anonymous nodes eliminates the need to trust cloud storage service providers with data privacy.
The system employs peer-to-peer encryption, ensuring that each file is encrypted before being distributed to the network of independent hosts. Each node receives only a random fragment of a file, with decryption keys divided among the nodes and the host, making it highly resistant to hacking.
Node operators are rewarded for hosting data and confirming the safety and retention of files through a process known as mining (PoW) in the crypto world. Storj tokens are used for this purpose. Individuals or organizations storing data on the network provide Storj tokens as payment to the nodes.
This system guarantees the protection of user data against hacks and other malicious attacks. It also eliminates the risk of data loss associated with storing data in isolated storage units that can be targeted in a coordinated attack.
Where Can You Buy Storj Coins?
Storj's token, $Storj, has liquidity as one of the earliest blockchain solutions. It is listed on over fifty exchange platforms, including Coinbase Exchange, Crypto.com, and Binance, in pairs with major currencies and cryptocurrencies. Additionally, Kraken allows direct conversion of USD and Euro.
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