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How to buy Bonfida

1. Compare crypto exchanges
The easiest way to buy Bonfida is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.

2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.

3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.

4. Buy Bonfida
You can now exchange your funds for Bonfida. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your Bonfida to your personal wallet.
Where to buy Bonfida in Australia
Find an exchange to buy, sell and trade FIDA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy Bonfida
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bonfida.
- Compare cryptocurrency exchanges that support FIDA.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later. - Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address.. - Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Bonfida. - Buy Bonfida.
Complete your Bonfida purchase and then find the best wallet to store FIDA.
What to consider when buying Bonfida
The FIDA token is associated with a relatively young decentralised finance (DeFi) application. As such, investing in the FIDA token should be carefully evaluated. Here are a few points to consider before investing funds:
- Token lockup: The maximum supply of FIDA tokens is capped at 1 billion. 95.4% of all FIDA tokens will be locked between 1 and 4 years. These locked tokens will be used for a range of different measures including the SRM yield, paying Bonfida employees and contributors, and furthering the Bonfida ecosystem. Locked seed sales, which account for 9% of the total supply, will also be locked between 1 and 4 years. The remaining unlocked tokens (4.6%) will be used to provide liquidity to the application and for initial exchange offerings.
- Saturated market: The value of the FIDA token will be closely linked to the success of the Bonfida DEX. According to the whitepaper, the FIDA token will accrue all of the value from the product suite. Increased users will result in an increased demand for the token. While the Bonfida DEX will enjoy first-mover advantages within the Serum ecosystem, it is certainly not one of the more established DEXs currently available in the cryptocurrency industry. There are now several decentralised exchanges littered across the industry, which means Bonfida will need to work hard to retain a top spot. The leverage of Solana and Serum may only carry the DEX so far.
- Range of use cases: The range of use cases for FIDA within the Bonfida ecosystem is extensive. The higher the number of use cases, commonly the higher the demand for the token will be. According to the whitepaper, the FIDA Foundation may also allow the token to be used for governance purposes in the future.
- Buy and burn program: Bonfida implements a buy and burn program for the FIDA token. The features is both decentralised and permissionless. 95% of all transactional fees are collected in the buy-burn pool on Bonfida. Those fees are then either burned or used to buy FIDA from the market. This is decided by FIDA token holders. The buy and burn program was designed to place continual deflationary pressure on the token.
How to sell Bonfida
You can cash out your FIDA with the same exchange you bought it through:
- Sign in to the exchange you have FIDA on.
If you store your Bonfida in a digital wallet, compare crypto exchanges to sell it on. - Place a sell order.
Choose the amount of FIDA you'd like to sell. - Complete your transaction.
Confirm the sell price and fees and close your sale of Bonfida.
Disclaimer: Cryptocurrencies, including Bonfida, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of FIDA is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Bonfida or any other cryptocurrency discussed.
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