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 ENS on BYDFi. We'll guide you through it
Choose how to purchase ENS 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 (ENS). 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 ENS 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 ENS 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 ENS 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 ENS
Trade
Answers
Is Ethereum Name Service (ENS) a Good Investment?
Ethereum Name Service crypto is an exciting asset to invest in, considering the projects future potential. As Web3 adoption rises, the need for a service like ENS, which helps you create convenient Web3 usernames and profiles, will also pick up.
An uptick in adopting Ethereum Name Service by crypto and Web3 users could drive up the ENS price and make it a valuable asset to include in your portfolio. The Ethereum Name Service price could also edge higher amid the release of more Web3 projects and decentralized websites using its blockchain naming standard.
In addition to rising adoption by users and projects worldwide, the Ethereum Name Service price could see an uptrend as the market sentiment towards cryptocurrencies improves. A positive mood among investors increases buying interest, sending all digital assets, including ENS, higher.
The ENS price could rise amid higher innovation in the Web3 and decentralized space. The need for a convenient service that converts cryptocurrency addresses into human-readable names is a precious innovation in the market which could witness widespread adoption in the future, making the Ethereum Name Service token more valuable.
How Many ENS Tokens Are There?
The Ethereum Name Service token has a fixed total supply of 100 million. As of August 2022, the circulating supply of ENS crypto is about 20 million.
The following is the token distribution of ENS:
⧫ 50% of ENSs max supply was allocated to the DAO Community Treasury, of which 10% was unlocked at the time of launch with a vesting schedule spread over four years since then.
⧫ 25% of ENS was distributed via airdrops to .ETH domain holders.
⧫ The remaining 25% was set aside for contributors to the Ethereum Name Service project with a four-year linear vesting schedule.
How Much Does it Cost to Get an ENS Domain?
You must pay $5 per year to register a .ETH domain using the Ethereum Name Service. In addition to buying ENS directly via the Ethereum Name Service platform, you can also obtain an ENS domain via OpenSea, the worlds leading NFT marketplace.
Browse through the ENS collection on OpenSea for available .ETH domain names and get their pricing details. Connect your digital wallet to OpenSea to buy available options or place a bid for them.
ENS vs. DNS: Difference Between Ethereum Name Service and Domain Name Service
While ENS and DNS perform similar functions, there are several differences between the two services. Lets take a look at some of them:
Web2 vs. Web3
Domain Name System (DNS) is a protocol that caters to Web2 initiatives, such as websites and email addresses. It maps IP addresses to names that are convenient to recall and use.
On the other hand, Ethereum Name Service maps crypto addresses based on Ethereum to a readable string similar to a URL. The ENS service can be used to create usernames for Web3 applications, crypto wallets, and decentralized websites serving Web 3.0 projects.
Centralized vs. Decentralized
DNS services are primarily centralized, with DNS providers using centralized servers to offer their services to internet users. Meanwhile, ENS functions in a completely decentralized manner, based on the Ethereum blockchain. The verification process utilized in ENS is distributed, eliminating the single point of failure that centralized systems suffer from.
How to Get an ENS Domain
The Ethereum Name Service is integrated across hundreds of dApps and wallets, which means its services are accessible through these platforms. Heres how you can get an ENS domain for yourself:
1. Create an account with a crypto wallet that is integrated with and supports ENS.
2. Add ETH funds to your wallet by buying Ethereum on BYDFi or other exchanges. Withdraw the funds from your trading account to your wallet by entering your wallet address.
3. You will need a minimum of $50 worth of ETH in your wallet to purchase ENS domains.
4. Head to the ENS Manager website.
5. In the text box on the homepage, please search for the .eth domain name you would like to own to assess its availability.
6. Confirm the availability of the name and enter the duration in years for how long you wish to own the ENS domain.
7. Click on Request to Register to proceed.
8. Connect your ETH wallet through the pop-up box that appears in the next step. Click on Confirm to proceed with the transaction and make the payment for the ENS domain.
9. Review the gas fees and other details to proceed with the registration process.
10. After registering your ENS, use the Resolve section to bind your old crypto address to your ENS domain.
11. You can now use your ENS name to receive crypto and interact with dApps.
