If you’re looking to capitalize on the growing NFT craze, look no further than FATOSHI, the native cryptocurrency of the exciting new Fat Satoshi NFT platform.
In this easy-to-follow, step-by-step guide, we will show you exactly how and where you can purchase FATOSHI in as little time as possible.
What is FATOSHI?
Fat Satoshi is an NFT ecosystem with its own native cryptocurrency (FATOSHI). Users of the Fat Satoshi platform can buy and sell NFTs on the marketplace, mint new NFTs and earn prizes for holding NFTs all through the use of FATOSHI tokens.
In addition to its utility within the Fat Satoshi ecosystem, FATOSHI can also be held to speculate on the continued growth of the platform and of the broader NFT ecosystem in general. As the Fat Satoshi NFT platform grows in popularity the demand for FATOSHI tokens will naturally rise and hopefully boost the tokens’ underlying value as well.
The project is audited by Certik, a leader in the blockchain auditing space, and the FATOSHI token is built on the Binance Smart Chain (BSC) blockchain. As such, FATOSHI is a BEP20 (BSC) token.
If this sounds interesting to you, read on to learn the easiest and best ways for you to buy and store FATOSHI in this step-by-step guide.
Step 1: Register on Fiat-to-Crypto Exchange
The first thing you need to do before you can purchase cryptocurrencies is to register on a fiat-to-crypto exchange. These exchanges provide a safe and regulated way to exchange your fiat money (such as dollars) for cryptocurrencies like BTC or FATOSHI.
CryptoWallet is an excellent option as your crypto-to-fiat exchange. It is fully regulated and provides an easy-to-use experience tailor-made for beginners to the cryptocurrency universe. On top of this CryptoWallet offers a variety of unique features including a crypto debit card that lets you spend your crypto-like money anywhere that accepts debit payments. Plus, all funds stored on CryptoWallet are protected by BitGo, a leader in the digital asset security space.
The CryptoWallet app is available on both Apple and Android devices. Once you have downloaded the app and completed registration you are ready to move on to the next step.
Step 2: Buy BTC with Fiat Money
Before you can trade for smaller cryptocurrencies like FATOSHI, you will need to use an intermediary cryptocurrency to move from fiat into crypto and eventually trade for FATOSHI.
CryptoWallet currently allows you to buy five major large-cap cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT) using your debit or credit card. This makes purchasing major cryptocurrencies as easy as a regular everyday purchase.
To start, we recommend purchasing BTC since it is the most widely accepted cryptocurrency and the easiest one for you to trade with.
After you’ve made your purchase of BTC you can move on to the next step to learn how you will exchange it for FATOSHI.
Step 3: Transfer BTC to an Altcoin Exchange
Generally, you would be able to trade your BTC directly for your desired cryptocurrency. However, since FATOSHI is a relatively small and niche cryptocurrency, it will require one additional transaction which will also be included under this step.
The first thing you will need to do is sign up for an account on the altcoin exchange Binance. Since you will be swapping crypto-for-crypto you will not need to complete an extensive registration process on Binance, so the sign-up should not take very much time.
Once signed up on Binance you can transfer your BTC from CryptoWallet to Binance and swap it for BNB (the native cryptocurrency of the Binance Smart Chain). To do this, find your Binance BTC receive address, then paste it into the ‘Send To’ field on the CryptoWallet app. Once the BTC has arrived you can search for the BTC/BNB trading pair and execute your trade.
Now that you have BNB you can transfer it for FATOSHI using a Binance Smart Chain (BSC) decentralized exchange (DEX) such as Pancakeswap. First, you will need to move your BNB to a wallet supported by Pancakeswap. We recommend MetaMask since it is well known and easy to use. After downloading MetaMask you can send your BNB from Binance to your BSC wallet on MetaMask.
Now for the last part of this step, connect your MetaMask wallet with BNB to Pancakeswap, search for the BNB/FATOSHI trading pair and execute this trade.
Congratulations, once the trade has been completed you will be the proud owner of FATOSHI in your MetaMask wallet.
Step 4: Store FATOSHI Securely
Even though you now own FATOSHI, you are not quite done yet. It is important to consider a secure option to store your FATOSHI. You generally have two major options: software wallets and hardware wallets.
CryptoWallet is an excellent option for a software wallet that supports large-cap cryptocurrencies. This is due to the extra security provided by BitGo, as well as its unique feature set including a crypto debit card that allows you to spend your crypto anywhere that accepts debit payments. Unfortunately, since CryptoWallet does not support FATOSHI it is not an option here.
You may want to consider keeping your FATOSHI in your MetaMask wallet where it is currently stored. For smaller amounts, or if you require regular access this is not a bad option. However, it is important to consider that MetaMask stores your keys within your browser and is therefore not the most secure option for large amounts of funds. In this case, we recommend using a hardware wallet such as a Ledger or a Trezor, which will provide the added security of storing your keys offline. Just make sure the hardware wallet you choose supports BSC tokens such as FATOSHI.
Other Useful Tools for Trading FATOSHI
Price-feed tools like CoinGecko.com and CoinMarketCap.com are also very useful for trading cryptocurrencies like FATOSHI. These tools provide you with a real-time price chart and statistics such as current market cap and trading volume. In addition to this, CoinGecko and CoinMarketCap will provide you with a list of exchanges currently trading FATOSHI as well as the trading pairs they support.
Can I buy FATOSHI with cash?
Unfortunately, you cannot buy niche cryptocurrencies like FATOSHI directly with cash. However, a cash-like way to purchase FATOSHI is to use your debit or credit card to purchase BTC on CryptoWallet and then trade that BTC for BNB on Binance. Once you have done this you can use a wallet that supports PancakeSwap to trade BNB for FATOSHI.
Are there any quick ways to buy FATOSHI in Europe?
The quickest way for you to buy FATOSHI in Europe is to use the CryptoWallet app which will allow you to buy Bitcoin (BTC) directly with your debit or credit card. Once you have completed this purchase you can easily swap your BTC for BNB on Binance and use a wallet that supports PancakeSwap to trade BNB for FATOSHI.
Are there any alternative platforms to buy FATOSHI or Bitcoin with credit cards?
While the combination of CryptoWallet, Binance, and PancakeSwap is likely the easiest and best option, other options may exist. You should do your own research as to which option is best for you and what the potential trade-offs are for your chosen platform.