How to buy Hifi Finance | Buy MFT in 3 steps | Finder

How to buy Hifi Finance (MFT)

A beginner's guide to buying and selling MFT in Australia.

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How to buy Hifi Finance

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

  1. Open an account on an exchange that supports MFT.
    Most exchanges require an email address, phone number and proof of ID to register.
  2. 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 Hifi Finance.
  3. Buy Hifi Finance.
    Complete your Hifi Finance purchase and then find the best wallet to store MFT.
Disclaimer: This information is not advice to buy cryptocurrency, a recommendation for Hifi Finance or an endorsement of any particular provider or service. Talk with a financial professional before any investment or purchase.

What is Hifi Finance?

Mainframe, now rebranded as Hifi Finance, is primarily a lending protocol that is designed to help users borrow various assets in exchange for their personal crypto holdings. To be a bit more specific, the platform allows individuals to create fungible debt obligations on the Ethereum blockchain while providing them with fixed-rate lending options. As a result, investors can map out their finances and trading strategies in a much more efficient manner. The Mainframe Token (MFT) is the native cryptocurrency of the Hifi ecosystem and is used for a variety of different purposes, such as on-chain governance, staking and rewards. The more MFT a user possesses, the more say they have in terms of how the platform should be administered.

Hifi Finance (MFT) is the 288th largest cryptocurrency in the world by market cap, valued at $195,103,667. The current price of Hifi Finance is $0.021, which is -13.512% lower than yesterday. Prices have ranged between $0.024 and $0.021 over the past 24 hours. All prices are listed in AUD and accurate as of 22 April, 2021 09:04 UTC.

Where to buy Hifi Finance

Find an exchange to buy, sell and trade MFT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Swyftx Cryptocurrency Exchange
Bank transfer, Credit card, Cryptocurrency, Debit card, Osko, PayID
AUD

257
cryptocurrencies

Buy and sell a wide range of cryptocurrencies at competitive rates on this Australian exchange.
Binance Cryptocurrency Exchange Australia
Credit card, Cryptocurrency, Debit card, Osko, PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 40+ more

261
cryptocurrencies

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.
Bittrex Global
Bank transfer, Credit card, Cryptocurrency, Debit card
USD

273
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
CoinSwitch Cryptocurrency Exchange
Credit card
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Hotbit Cryptocurrency Exchange
Hotbit Cryptocurrency Exchange
Cryptocurrency, Epay
USD

512
cryptocurrencies

A multi-currency exchange with 150+ pairings that can be accessed through desktop as well as a mobile app.
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Compare up to 4 providers

Hifi Finance at a glance

Information last updated 22 April, 2021 09:04 UTC.
Coin symbol MFT
Total MFT supply 10,000,000,000
Circulating MFT 9,386,552,599
Current price AUD$0.021
All time high AUD$0.045
All time high date 03 April, 2021

Hifi Finance price performance over time

Historical prices compared with the price of AUD$0.02.

1 hour -2.95%
24 hours -13.51%
7 days -26.40%
14 days -26.95%
30 days -34.98%
60 days -19.01%
200 days 926.30%
1 year 3,149.15%

How to sell Hifi Finance

You can cash out your MFT with the same exchange you bought it through:

  1. Sign in to the exchange you have MFT on.
    If you store your Hifi Finance in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of MFT you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of Hifi Finance.

What to consider when buying Hifi Finance

  • Low entry requirements: The Hifi ecosystem requires collateral when borrowing or lending. For example, the platform allows users to borrow the USDC stablecoin using WBTC (wrapped Bitcoin) as collateral, with more unique pairs likely to be added in the coming few months. Borrowers will need to manage the volatility to avoid falling below the required collateral threshold.
    Hifi also uses a system of Guarantor Pools that helps reduce collateral requirements while spreading out volatility risks that the system may be faced with during periods of market turmoil.
  • Borrow, lend and supply liquidity: The platform allows users to facilitate seamless loan acquisitions by locking in collateral in order to mint fixed-rate, fixed-term debt tokens. Similarly, users also have the option of buying these debt tokens for a discount, allowing them to earn a set amount of money on their investment when the lock-in period expires. Lastly, users can earn trading fees by simply providing liquidity to Hifi.
  • Fixed-rate options: Hifi makes use of the concept of “tokenised debt” through which it allows for fixed-rate, fixed-term lending and borrowing — a concept that is still not a mainstay of the DeFi market since most protocols offer varying annual percentage yields that depend largely on day-to-day market fluctuations.
  • Unique operational proposition: Users have the option of acting as guarantors by pooling together their assets in order to protect the system from becoming undercollateralised. In the process, they can earn fees and acquire collateral at a much lower rate when borrowers fail to repay their loans.

  • Disclaimer: Cryptocurrencies, including Hifi Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MFT 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 Hifi Finance or any other cryptocurrency discussed.

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