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 WEGLD on BYDFi. We'll guide you through it
Choose how to purchase WEGLD 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 (WEGLD). 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 WEGLD 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 WEGLD 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 WEGLD 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 WEGLD
Trade
Answers
What Is MultiversX (EGLD)?
MultiversX is a blockchain protocol that aims to provide extremely fast transaction speeds through the use of sharding. It is a technology ecosystem for the new internet, encompassing fintech, decentralized finance, and the Internet of Things. The platform's smart contracts execution capability allows for 15,000 transactions per second, with a latency of six seconds and a transaction cost of $0.001.
MultiversX rewards the community and active participants with EGLD tokens, which is the native token of Elrond. EGLD acts as a store of value currency for network usage and facilitates exchanges between platform users and validators. It also enables developers to deploy smart contracts, protocols, and dApps, and provides governance functionality for holders to vote on network decisions.
MultiversX was announced in August 2019 and its mainnet went live in July 2020.
Who Are the Founders of MultiversX?
MultiversX was co-founded in late 2017 by Beniamin Mincu, Lucian Mincu, and Lucian Todea. The Mincu brothers previously co-founded MetaChain Capital, a digital asset investment fund, and ICO Market Data, an aggregator of information on initial coin offerings. Beniamin Mincu also has experience with blockchain platform NEM and has been an early investor in various projects. Lucian Todea is a serial tech entrepreneur with previous ventures in software and mobile payments, as well as angel investments.
What Makes MultiversX Unique?
MultiversX stands out as a blockchain platform for the new internet economy, decentralized applications, and enterprise use. Its key feature is its high scalability achieved through the implementation of state, network, and transaction sharding. The network consists of 2,169 validator nodes divided into four shards, allowing for parallel processing and scaling by adding additional shards when needed. MultiversX also supports developers by allowing them to earn royalties from smart contract fees.
The platform's economic model includes a limited supply of EGLD tokens, with new tokens minted to reward network validators. EGLD is distributed through private sales, initial exchange offerings, and reserved allocations for ecosystem rewards, marketing, community funds, advisors, founders, and core team members.
How Does MultiversX Work?
MultiversX implements state, transaction, and network sharding to achieve scalability and faster transaction processing. Adaptive State Sharding is used to scale the network and support a growing number of applications and transactions. The network is divided into three execution shards that process transactions at a rate of 5,400 transactions per second each, and one coordination shard known as the "Metachain." The platform combines three sharding methods to create its unique adaptive sharding approach.
MultiversX utilizes a secure proof-of-stake consensus algorithm where validators stake EGLD tokens to participate in the validation process. Validators are randomly selected and periodically shuffled between shards to prevent collusion. Strong cryptographic protection is ensured through the use of modified Boneh-Lynn-Shacham multi-signatures.
How Many MultiversX (EGLD) Coins Are There in Circulation?
The total supply of EGLD tokens starts at 20,000,000 and can never exceed 31,415,926. The tokens are minted to reward network validators, and the supply decreases as more transactions are processed. The initial distribution of EGLD tokens included private sales, initial exchange offerings, and reserved allocations for ecosystem rewards, marketing, community funds, advisors, founders, and core team members.
MultiversX's tokens were first issued on Binance Chain as ERD tokens, with a total supply of 20 billion. A token swap event was later conducted to convert ERD and ERC-20 tokens to mainnet EGLD tokens at a swap ratio of 1,000 ERD for 1 EGLD.
How Is MultiversX Secured?
MultiversX utilizes a secure proof-of-stake consensus algorithm to ensure network security. Validators must stake EGLD tokens to participate in the validation process and are assigned a rating score based on their past activity. Validators with low ratings may not be selected and may face fines. Continuous improper behavior can result in removal from the network and slashing of stakes. Validators are randomly selected and periodically shuffled between shards to prevent collusion. Strong cryptographic protection is implemented using modified Boneh-Lynn-Shacham multi-signatures for node communication.
Where Can You Buy MultiversX (EGLD)?
EGLD can be purchased on various cryptocurrency exchanges such as Binance, OKEx, Bitfinex, and BitMax. It can be traded against fiat currencies, cryptocurrencies, and stablecoins on both spot and derivatives markets.
If you are interested in buying EGLD or other cryptocurrencies, BYDFi provides a step-by-step guide on how to get started.
