How to buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase BFC on BYDFi. We'll guide you through it
Choose how to purchase BFC on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (BFC). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 500+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store BFC in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your BFC to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy BFC on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive BFC
Trade
Answers
What Is Bifrost (BFC)?
Bifrost is a multichain middleware platform that enables developers to create Decentralized Applications (DApps) on top of multiple protocols. Bifrost creates an environment where developers can combine the best protocols to develop more scalable and flexible DApps.
Developers can write smart contracts for multiple blockchain protocols in a unified environment. Bifrost transpiles, compiles, and deploys the code into the target blockchains at once. Developers can also easily operate their DApps and switch the target blockchain as new protocols become available.
Bifrost has multiple components that allow for a seamless connection among all blockchains:
- Recipe: A language application that defines the programming language of Bifrost and generates smart contract codes with guaranteed code-level flexibility.
- Linker: A system that connects the user and Bifrost components, ensuring seamless operation on top of multiple blockchains.
- Builder: An Integrated Development Environment (IDE) that offers a customized environment to use the comprehensive suite of features of Bifrost.
- Gourmet: An automated testing environment for Bifrost service and smart contract development, updating with the latest technologies for blockchain.
- Scan: A dashboard that provides a full view of the internal process of Bifrost and shows blockchain interconnectivity in a diagram.
What Makes Bifrost Unique?
- Flexibility: Bifrost enables users to select and combine blockchains, maximizing the potential of blockchain technology.
- Scalability: Bifrost operates with multiple blockchains without additional abstraction layers, allowing direct use of each blockchain's features.
- Interoperability: Bifrost allows for countless possibilities of combinations and interoperability from the start.
- Full Dev Suite: Bifrost provides a comprehensive suite of features, including an IDE, monitoring function, and client service such as wallets.
What are its use cases?
BFC (Bifrost token) is the currency of Bifrosts multichain ecosystem. Developers pay BFC for using the multichain middleware to develop and operate their DApps, minimizing the cost of gas fees when using multiple blockchain protocols. They will be required to stake a certain amount of BFC, and the fees will be deducted from it. Once the staked amount reaches below a threshold level, they will be asked to purchase BFC to meet the threshold again.
The first DApp powered by Bifrost is the multichain DeFi platform, BiFi. BiFi connects directly to multiple blockchains like Bitcoin, Tron, and Klaytn, expanding the DeFi ecosystem beyond Ethereum. BiFi has its own token, BIFI, used for governance and paying fees for using multichain DeFi services. As BiFi's multichain is powered by Bifrost, BiFi periodically purchases BFC with BIFI and pays it to Bifrost.
Bifrost continues to develop more features tailored to DeFi DApp development and serving multichain DeFi developers in the future. When DApp sectors like DID, NFT, and Gaming grow, Bifrost aims to become the preeminent multichain platform. Future DApp developers will be able to customize the combination of blockchains to build more scalable, interoperable, and flexible DApps, using BFC to power them.
How Many BFC Coins Are There in Circulation?
A total of 4 billion BFC tokens were issued. Currently, 256 million BFC tokens are in circulation since the Uniswap listing on December 2nd, 2020 at 11 AM UTC. Two rounds of private sales were held in 2018 and 2019, and a public sale was held in June 2020.
Of the total supply of BFC tokens, 20% is allocated to each of the following: Bifrost Reserve, Ecosystem, and Team. 4% is distributed to investors, and the remaining 10.4% is used for marketing. BFC tokens for the Reserve, Ecosystem, Team, and Advisors will be distributed over a 5-year span, with a 1-year lock-up and a 4-year vesting period.
Who Are the Founders of Bifrost?
Founded on March 14, 2016, PiLab, a research-oriented software provider, was started by two professors to develop blockchain applications. They created Bifrost, a technology platform that allows developers to easily build on multiple blockchains.
Dohyun Pak, CEO and co-founder of Bifrost, has over a decade of experience in developing and managing complex derivative products for financial institutions. He received his PhD in financial engineering at the University of Michigan, Ann Arbor.
JongHyup Lee, CTO and co-founder of Bifrost, is a professor of mathematical finance at Gachon University. He has presented his research at top-tier conferences and co-founded PPP, a leading hacking team.
Changhyun Yoo, COO and co-founder of Bifrost, has developed financial platforms for leading financial institutions for over a decade. He co-founded Bifrost with a belief in the future of finance in blockchain.
Soso, CMO and co-founder of Bifrost, was previously a medical doctor and is now one of the leading cryptocurrency influencers in Korea. He founded Block Crafters Capital, a blockchain-focused venture capital.
Bifrost is a team of 30 with extensive experience in finance and computer science. Their advisors are from leading blockchain and technology organizations.
Where Can I Buy Bifrost (BFC)?
You can buy BFC on Uniswap with the trading pair BFC-ETH.
If you are new to cryptocurrency, you can read BYDFis easy guide to buying Bitcoin or any other token.
