If you have any interest to buy Fyooz (FYZ), you will be required to have either Bitcoin abbreviated as (BTC) or Ethereum (ETH) for trading purposes. I have reviewed the major cryptocurrency exchange Binance in this post to help you determine the best sites to buy cryptocurrency using a credit card or bank account. Take a read and get tips on the best cryptocurrency trading.
Step 1: How to create a Binance account:
1.1 Visit Binance’s Website (https://www.binance.com/en)
1.2 Fill in your trading details
You also need to choose a strong password for your email; a strong password should comprise a mix of numbers, symbols, upper and lower-case letters. You will receive a 6-digit code via the email you provided as your account’s verification code and for completing the registration process.
1.3 Allow 2FA-Two-factor authentication (Optional)
Every time you log in with the two-factor authentication, you will need to provide a unique code once your type in your email and password. To get your unique code, use the Google authenticator app downloaded into your smartphone.
Step 2: Buying your first Bitcoin (BTC)
To send money to your Crypto wallet account on Binance either directly via your bank account through SWIFT money transfer or you can opt to use your debit/credit card. For this part, I will guide you on how to use your credit card.
Binance previously didn’t allow the use of credit or debit cards on its platform, but the same has been introduced. Binance partnered with Simplex to allow its users to use their credit and debit cards to buy Bitcoin or Ethereum. This has led to faster Crypto transaction speeds, low transaction charges, and more transaction flexibility.
I highly recommend buying Bitcoin first and then trading it for the right amount of Fyooz (FYZ).
It is easy to purchase Bitcoins via your credit card but I will elaborate on best ways you can do it step-by-step to make sure you understand all the trading nitty-gritty.
Step 3: Move Your cryptos to the Altcoin Exchange Bibox
At this point you can buy Fyooz (FYZ) via your funds you invested in Binance.
However, Binance doesn’t allow the trading of all crypto on its platform; thus, you need to move your funds to an exchange that Fyooz (FYZ) is permissible. On this section I will guide you on how to use Bibox a renowned crypto site. To create a new account, click the link below.
Just follow the steps just like the ones I have mentioned above on trading with Binance and you will be able to move your Bitcoins.
Step 4: How to deposit BTC to Exchange
If you have already created your account in the exchanges that allow the trading of Fyooz (FYZ), just move your BTC from Binance to your newly created exchange which is possible through the wallet system.
On the top-right menu find ‘Assets” and click the tab.
In the tab written, “BTC” click the deposit tab and also click the provided “Deposit Address”.
This stage may be difficult; however, it is easier when compared to a direct bank transfer.
Copy the BTC wallet address you received and head back to Binance.
Place your mouse’s cursor on the “Wallet” on the right side of the site’s top bar, a popup will show up; you will then click “Fiat and spot (Deposit & Withdrawal)”.
You have to move your cursor to “wallet” button on your right hand side on the top bar and a pop up will show up, then you will have to click “Fiat and Spot (Deposit & Withdrawal”.
Then you have to search for BTC in the list and click on “Withdraw” found on your right hand side.
Use the deposit address you received form the other exchange and paste it. Also you have to select BTC as your transfer network. You will then be required to write down the amount you need to withdraw. If you want to withdraw all the amount you have just click the Max button.
Next, you have to click the submit button to start the withdrawal process. To continue with the withdrawal Binance may ask for your two-factor Authentication (2FA) code and use it to confirm the withdrawal through your email.
That is all you need to do, then wait for a few seconds so that the block-chain accepts your transaction.
Step 5: Trade Fyooz (FYZ)
If you have done all the above, you can now go back to Bibox and buy Fyooz (FYZ)with the Bitcoins you send there.
you need to move your mouse’s cursor to the area written trading and click ‘standard’ found under cash trading.
You will see a column on the left side written “BTC” pair and in the search bar you need to type in “FYZ”.
Once you have Moved your coins, click on it and it will bring you a chart of FYZ/BTC in the middle of the page. You will be required to select the “Market” tab as the easiest way to buy your order. You can choose to type on the amount you want to choose or the portion of your BTC deposit you wish to spend on buying, by clicking the percentage buttons.
If you have confirmed everything, click, “Buy FYZ”. Now you have bought your FYZ!
Other Exchanges to Buy Cryptos
The following are other sites you can buy from these exchanges:
HotBit (Which permits US investors)
MXC (This exchange allows US investors)
On top of the above-listed exchanges, there are some more common crypto exchanges where daily trading volumes and a huge user base is available. This helps to ensure that you can sell your coins any time you want and the charges for the trading are not high. It is recommended that you should also register on these exchanges because whenever Fyooz gets listed there it give the traders who have already registered a large amount of trading volumes, that means you will be provided with some great trading opportunities!
Final Step: How to Store Fyooz securely in hardware wallets
1. Ledger Nano S
- Easy to set up and has a friendly trading interface.
- Allows use on desktops and laptops
- Lightweight and Portable too
- Has been designed to Support most blockchains and a wide range of (ERC-20) tokens
- Has many trading languages.
- Designed by a well-established company found in 2014 with great chip security
- It is not expensive but can be acquired at affordable price
2. Ledger Nano X
- It made with a more advanced and secure element chip (ST33) than Ledger Nano S
- Also Lightweight and Portable and has a built-in rechargeable battery
- Has a Larger screen
- Comes with more storage space compared toLedger Nano S
- It supports most blockchains and wide range of (ERC-20) tokens
- Provides several languages for every customer
- It was designed by a famous company found in 2014 with great chip security
- Can be obtained at an affordable price
If you still have plans to stay at hodl” as some people call it, basically misspelt “hold” (which become famous as time passes) your Fyooz for some long time, you need to find ways to ensure it stays safe safe,
However Binance is the most safe cryptocurrency exchange, in the past few years there have been hacking incidents and funds were lost. Because of the design of the wallets in exchanges, they will be accessible always via the internet (“Hot Wallets” as they are called), therefore exposing certain aspects of weaknesses.
Thus safeguard your cryptos by putting them in “Cold Wallets”, where the wallet will only have access to the blockchain(or simply “go online”) when you send out funds,. This reduces the chances of being hacked. For example, use a paper wallet which is a type of free cold wallet. It can also be defined as an offline-produced pair of public and private address and that you write on a paper for keeping safely with you. But, it is not permanent and may be faced by certain risk.
Thus, Hardware wallet is therefore the best compared to cold wallets. Since they are usually USB-enabled devices that can hold the key information of your wallet in the safest manner. Also they are designed using military-level security and their firmware’s are continuously upgraded by their manufacturers and this makes them extra safe to use. For example, Ledger Nano S and Ledger Nano X and are most common hardware wallets, you can buy one at $50 to $100 depending on the specifications they have. I highly recommend these for holding your assets because these wallets are a worthy every penny according to my experience and opinion.
Frequently Asked Questions
Is it possible to buy Fyooz with cash?
The answer is No. Because there is no way you can directly buy Fyooz with cash. But, using marketplaces such as LocalBitcoins to first buy Bitcoin, and completethe rest of the steps by transferring your bitcoin to respective AltCoin exchanges.
How do I Buy Bitcoin from local sellers?
What are the quickest ways I can buy Fyooz while living in Europe?
Can I use alternative platforms to purchase Fyooz or Bitcoin with credit cards?
Fyooz (FYZ) is a cryptocurrency and operates on the Ethereum platform. Fyooz has a current supply of 50,000,000 with 4,556,352.47610797 in circulation. The last known price of Fyooz is 0.23050776 USD and is down -5.86 over the last 24 hours. It is currently trading on 5 active market(s) with $121,302.43 traded over the last 24 hours. More information can be found at https://www.fyooz.io/.