How to buy Bonfida (FIDA) in Australia

Learn how to buy Bonfida (FIDA) easily by following a step-by-step guide and comparing 10+ crypto exchanges.

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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.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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.

1 - 6 of 9
Name Product Deposit methods Fiat Currencies Cryptocurrencies
CoinSpot Cryptocurrency Exchange
Bank transfer, BPAY, Cash, Cryptocurrency, POLi, PayID
AUD

363
cryptocurrencies

CoinSpot lets you buy, sell and swap 100s of cryptos from its simple-to-use desktop or app trading accounts.
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD, NZD

312
cryptocurrencies

Finder Exclusive: Receive $10 BTC on sign-up and verification.
Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
FTX Cryptocurrency Exchange
Bank transfer, Cryptocurrency, Wire transfer, PayID, Credit or Debit Card
USD, EUR, GBP, AUD, HKD, SGD, TRY, ZAR, CAD, CHF, BRL

273
cryptocurrencies

Sign up through Finder for a 5% discount on all trading fees. T&Cs apply.
FTX is an exchange built by traders for traders, with a range of derivatives markets such as options and futures with deep leverage, in addition to standard spot markets. Note: Not available for US customers.
Binance Cryptocurrency Exchange
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

366
cryptocurrencies

Earn up to USD100 in rewards by completing welcome offer tasks within 7 days of sign up. T&Cs apply.
Binance is the world’s largest exchange by trading volume. Get started with instant zero fee AUD deposits and withdrawals in Australia, and enjoy low trading fees, a wide selection of cryptocurrencies and 24/7 local customer support.
Cointree Cryptocurrency Exchange
Cash, Cryptocurrency, POLi, PayID, Online banking
AUD

279
cryptocurrencies

Finder Exclusive: Get $10 BTC after verification. T&Cs apply.
Buy 280+ cryptocurrencies with fast-growth portfolio insights, and the ability to swap any coin to any other instantly.
Coinstash Cryptocurrency Exchange
Bank transfer, Cryptocurrency, PayID
AUD

340
cryptocurrencies

Buy 250+ different cryptocurrencies using AUD with competitive trading fees on this Australian-owned and operated exchange.
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Compare up to 4 providers

Steps on how to buy Bonfida

Look for an exchange that supports both fiat and cryptocurrency to simplify buying Bonfida.

  1. 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.
  2. 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..
  3. 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.
  4. Buy Bonfida.
    Complete your Bonfida purchase and then find the best wallet to store FIDA.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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:

  1. 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.
  2. Place a sell order.
    Choose the amount of FIDA you'd like to sell.
  3. 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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