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 UMB on BYDFi. We'll guide you through it
Choose how to purchase UMB 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 (UMB). 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 UMB 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 UMB 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 UMB 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 UMB
Trade
Answers
What Is Umbrella Network (UMB)?
The Umbrella Network is a community-owned, decentralized oracle service that provides secure and scalable data solutions for decentralized finance (DeFi) applications. It offers access to revolutionary financial datasets for blockchain app developers and those interested in real-world business transactions.
Powered by the UMB utility token, Umbrella Network introduces a layer two blockchain integration for highly scalable oracle solutions.
Who Are the Founders of Umbrella Network?
The Umbrella Network was founded by Samuel Kim, a business administration graduate from the University of Chicago Booth School of Business. He has a background in consulting and entrepreneurship, having co-founded The Mobile Majority and Lucidity. Kim is currently a board member at Lucidity.
What Makes Umbrella Network Unique?
Umbrella Network stands out by enabling the development of decentralized financial applications based on real-world data. It offers virtually infinite scalability opportunities and utilizes multiple data sources to calculate accurate market prices. The network is governed in a decentralized manner through the UMB token, allowing stakeholders, validators, and developers to participate in governance decisions.
How Many Umbrella Network (UMB) Coins Are There in Circulation?
The total supply of UMB tokens is 56,405,087, with a maximum supply of 46,405,087. The current circulating supply is 18,282,511 UMB tokens. The token distribution includes allocations for the foundation, treasury, development fund, founding team members, early contributors, public sales, rewards pool, node fund, and partner fund.
How Is the Umbrella Network Network Secured?
The Umbrella Network is secured through a delegated proof-of-stake (DPoS) consensus model on the Ethereum blockchain. The DPoS Umbrella community, owning the majority of UMB tokens, elects validator nodes to govern the Oracle service. This consensus mechanism ensures security and scalability, requiring less energy and computing power compared to proof-of-work (PoW) mechanisms.
Where Can You Buy Umbrella Network (UMB)?
The UMB token can be purchased on Uniswap V2, as well as other exchanges such as Gate.io, AscendEX, MXC.COM, and 1inch Exchange. However, it is important to note that investing in cryptocurrencies carries risks.
