BitForex token (BF) is the native token of the online crypto trading platform, BitForex. Holders of the token receive a range of benefits when using the platform including airdrops and trading bonuses. We’ve put together an easy guide to walk you through buying BF tokens online.
What is BitForex?
BitForex Token (BF) is a token created by the global cryptocurrency marketplace, BitForex. BitForex is a digital asset exchange that offers future contracts, NFTs and DeFi services. BitForex was launched in 2018 and boats the highest trading volume of online crypto exchanges.
Holders of the BF token will receive a range of rewards including trading bonuses, premium airdrops and access to BitForex events. It can also be used to access premium features on the BitForex exchange like BitForex Insights.
If you want to purchase BF tokens online, you’ll need to use a cryptocurrency exchange. This is an online digital asset trading platform. Some exchanges, like Binance or CryptoWallet, allow you to purchase tokens with a credit or debit card.
Other exchanges only facilitate trading cryptocurrency tokens for cryptocurrency tokens. These crypto-only exchanges, known as altcoin exchanges, do not take fiat currency.
At the moment, BF tokens cannot be purchased using fiat money. You’ll need to purchase a cryptocurrency such as Bitcoin (BTC) or Ethereum (ETH) from a prominent cryptocurrency exchange such as CryptoWallet or Coinbase. Then, you can head to an altcoin exchange and swap your tokens for BF tokens.
Don’t be worried if this sounds confusing! We’ve got you covered with our simple step by step guide to buying BitForex tokens online using CryptoWallet.
CryptoWallet allows you to buy cryptos with a debit or credit card. You can trade cryptocurrencies on the go with our mobile app. With our crypto card, you can spend your tokens at stores all around the world.
Step 1: Register on Fiat-to-Crypto Exchange
To get started, sign up for a CryptoWallet account and set up your cryptocurrency wallet as follows:
- To register, click here. At this point, you’ll be prompted to give your personal information and verify your identity.
- You’ll be taken through the process of making your own cryptocurrency wallet. You will be given a seed phrase to use if you need to regain access to your account. This phrase should be written down rather than saved on a digital device. Then, keep this paper somewhere safe.
- You’ll be able to add fiat money to your crypto wallet once you’ve registered. After that, you will be able to purchase and exchange bitcoin tokens!
Step 2: Buy BTC with Fiat Money
The next step is to deposit fiat money into your wallet and use it to buy Bitcoin tokens. You can easily add money to your wallet by using a bank card or a wire transfer. When the transfer is complete and the cash appears in your wallet, you can purchase BTC tokens.
Visit our cryptocurrency exchange to select the cryptocurrency that you want to purchase. Select the quantity of Bitcoin you wish to purchase and confirm the price.
After you click the Select button, your BTC tokens will be sent to your wallet. The order may take a few moments to be completed and shown in your wallet.
Step 3: Transfer BTC to an Altcoin Exchange
The next step is to transfer your BTC tokens to a BitForex-compatible exchange. You will need an altcoin wallet that accepts both Bitcoin and BF tokens. Hot wallets such as MetaMask (a browser extension, mobile app, and desktop software) and TrustWallet (a mobile app) are well-known options that support both tokens.
There may be other wallet providers that handle both, but you should do your research to check that the wallet is secure and not a fraud. After you’ve set up your new altcoin wallet, you can use your keys to transfer your BTC tokens to it. You are now ready to exchange your BTC tokens for BF tokens.
There are currently two main exchanges that support BF tokens – BitForex and YoBit. Token pair exchange rates will differ between exchanges, so shop around for the best market pairs.
Go to your chosen cryptocurrency exchange and swap your BTC tokens for BF tokens. On the exchange page, choose the BTC/BF trading pairings. Select the quantity of BTC you want to exchange and confirm your purchase. Your BTC tokens in your wallet will be exchanged for BF tokens.
Last Step: Store BitForex Securely
The last and most crucial step is to safely store your tokens! Because many altcoins aren’t supported by major exchange wallets, you’ll need to use a separate altcoin wallet.
Many websites offer wallets that claim to support BF tokens; however, some of these wallets are frauds designed to steal your money. We took a look at some of the most secure wallets on the market to assist you in making your choice.
Let’s start by defining a cryptocurrency wallet. A wallet consists of two keys that are used to receive and send tokens. To send money, a private key is required, whereas to receive tokens, a public key is used. There are two types of wallets: “cold” physical wallets and “hot” online wallets.
Cold wallets, also known as hardware wallets, are the most secure since your keys are saved on a physical device that is not connected to the internet. Ledger and Trezor are well-known wallet manufacturers that offer a wide range of hardware wallets to meet your requirements. To fully use them, however, they must be connected to an internet device, which can be inconvenient.
Hot wallets, also known as software wallets, are far more convenient since they let you access your assets from any place and at any time. They are, however, substantially more vulnerable to hacking due to their constant internet connection.
Many prominent exchanges have addressed this issue by guaranteeing tokens placed in their wallets. All of your CryptoWallet assets are backed up by BitGo, an industry leader in digital asset security.
Many cryptocurrency investors keep the majority of their cryptocurrency holdings in a secured wallet such as CryptoWallet. They then use an altcoin wallet, such as MetaMask or TrustWallet, to store and trade altcoins, including BF token. As a result, the majority of their assets are protected and backed up.
We believe CryptoWallet is a fantastic choice since it allows you to store the top five cryptocurrencies by market capitalization and volume (BTC, ETH, XRP, USDT, and LTC).
Our mobile app lets you access and trade your tokens from anywhere, and our crypto card lets you spend your money in stores all around the world. BitGo will guarantee all of your cryptocurrency holdings, allowing you to rest easy knowing that your investments are safe.
Other Useful Tools for Trading BitForex
CoinMarketCap has listings for almost every cryptocurrency, including information such as cryptocurrency price history, whitepapers, community sites, price charts, market data, and much more. If you’re unfamiliar with a token, here is an excellent place to start. On the market tab of the coin’s page, you’ll also be able to see where you can purchase or sell the coin.
Kubera is a valuable asset management tool. It allows you to link all of your crypto wallets and exchanges so you can monitor and track your crypto assets in one place. It also allows you to connect fiat accounts and track your currency assets, providing you with a complete picture of your whole portfolio.
CryptoMiso tracks the activity of projects on GitHub to see how active the development of the coin is. It’s a useful tool for investors looking for the next big thing. Using CryptoMiso you can check if a new coin has the activity and team behind it to develop into a mainstream token.
Can I buy BitForex with cash?
No. Although various platforms claim to allow you to purchase Bitforex token with cash, it is critical to conduct comprehensive research before acquiring any crypto tokens online. These websites are sometimes hoaxes designed to steal your money or personal information.
Are there any quick ways to buy BitForex in Europe?
The most secure and efficient way to buy BF tokens is to first purchase BTC tokens from an exchange such as CryptoWallet and then convert them for BitForex coins on an altcoin exchange. Purchasing tokens is made easy with our mobile app, and you may exchange crypto currencies from anywhere. You can be certain that your funds are secure since CryptoWallet is a certified and regulated service for purchasing digital assets.
Are there any alternative platforms to buy BitForex or Bitcoin with credit cards?
Many platforms claim to allow credit or debit card transactions for BitForex or Bitcoin purchases. Some of these websites, however, are scams designed to steal your personal information or money. That is why, before purchasing any cryptocurrency online, you should always do your own research (DYOR). When using a credit card, always buy cryptocurrency from a regulated and safe website like CryptoWallet.