Dfinity coin has only one mission, and this is to revolutionize the internet. Known as the Internet Computer, the token it uses is a Dfinity cryptocurrency in which you can invest. While you cannot buy the token by using fiat money, you will be able to buy it anyway through BTC or ETH coins.
This article aims to present you with a step-by-step guide on where and how to buy Dfinity coin.
Open an Account on Coinbase
- Open the Coinbase website. You can also download an app for iOS or Android as well.
- Click on the Get Started button.
- Fill out the information about your name, email address, password, and the state of your residence. Note that you should fill out your real name and a valid email address because this is the only way to have an accurate Coinbase account.
- Click on Create an account and verify the email via a verification mail you will receive.
- After email verification, you will proceed to phone number verification. Proceed to provide your phone number, and you will receive a seven-digit code which you can enter in the corresponding field.
- Click on Submit.
- A new page will open up where you will be able to fill out your personal information, such as your name, date of birth, and address. This information must match the information that is on your government-issued ID.
- Answer the questions on the next page. The questions relate to your current occupation, the purpose of Coinbase usage, as well as the last four digits of the SSN.
- Then, you will be able to verify your identity by providing the required documents, and you will be able to set up a 2-step-verification as well.
- Finally, you will be able to link a payment method to your Coinbase account. Either upload your credit card details or have a bank transfer. For example, credit cards allow you for instant purchases but have fees that are higher (3.9%). A bank transfer, however, may take several days.
Now you are one step closer to buying a Dfinity coin.
How to Buy Dfinity Coin With Bitcoins or Ethereum Currencies?
Since you cannot purchase a Dfinity coin directly, you can purchase Bitcoins or Ethereum coins and exchange them for a Dfinity coin. Note that you do not have to buy a whole coin; you can buy any portion of it that you want.
Go to the BUY section. Decide on the cryptocurrency and the amount that you want to purchase. Click on Buy, and decide how you would like to pay. After you have purchased Bitcoins or Ethereum coins, you can proceed to buy Dfinity coin as well.
Exchange Your Coins for Dfinity Coins
At the moment, three markets allow you to buy Dfinity coin by exchanging them for Bitcoins and Ethereum coins. Their names are MXC, Hoo, and Tokok. We will explain how to exchange Dfinity coin using the Tokoko market.
Do You Have a Digital Wallet Already?
To buy Dfinity coin, you will also need to have a wallet so that you can store your coins safely. You can use a Metamask wallet, Trust wallet, or any other wallet for this purpose. For example, we will now explain how to open a Trust wallet.
- Download the Trust wallet app from the Play Store.
- After installation, click on Create a new wallet.
- After carefully reading the Terms of Service, you can tick that box off.
- To be able to Back up your trust wallet, you will receive twelve phrases that you need to copy and paste somewhere safe. Arrange them so that they make a phrase.
- You have set up your Trust wallet.
Trust wallet is an excellent option if you are a beginner in the crypto world but also if you have been around for years. Five million users across the globe have recognized the high quality of this wallet. You can download it for free from the Play store and pay only for gas fees.
Open Tokoko Exchange Platform Account
After you have set up the exchange account, you will be able to proceed with the swap. Go to the deposit button next to the coin that you have, BTC/ETH. When you hover over the cryptocurrency, you will be able to create a wallet ID that is unique to your account. Copy your wallet ID, then proceed to copy it to the clipboard option.
At your Coinbase account, head over to the Portfolio section and click on either Bitcoin or Ethereum, and paste the wallet address into the Recipient field. Click on the Send button. After you have sent the cryptocurrency, expect a confirmation email.
As soon as the coins reach the Tokoko market, you will be able to buy Dfinity coin. You will need to press the Exchange button. Make sure to choose either BTC or ETH. In the search bar, choose BTC, for example, and search for the BTC/DFN duo and click select. Click on Buy DFN, then decide how many percents of the coin you would like to buy.
Buy Dfinity Coin and Store It Safely in a Hardware Wallet
After purchasing the Dfinity coin, we recommend that you start storing it safely in a hardware wallet. Keeping your Dfinity coins or other cryptocurrencies that you have in a hardware wallet is a perfect option for long-term storage, for example. The best hardware wallets currently are Ledger and Trezor. These wallets are almost impossible to hack and are a much safer option than hot wallets and cold wallets as well.
Should You Buy Dfinity Coin?
Whether or not to invest in a particular cryptocurrency is a question with no correct answer. The market is volatile, and things change rather quickly on the one hand, but on the other hand, the price can remain at the same level before surging to unimaginable heights. Our advice is to invest and monitor the market.