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How to buy Fei Protocol (FEI) in the US
A beginner's guide to buying and selling FEI in the US.
How to buy Fei Protocol
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Fei Protocol.
- Open an account on an exchange that supports FEI.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- 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 Fei Protocol.
- Buy Fei Protocol.
Complete your Fei Protocol purchase and then find the best wallet to store FEI.
What is Fei Protocol?
Fei Protocol is the platform behind the FEI stablecoin, which was developed for the decentralized finance (DeFi) sector. Built on the Ethereum blockchain, the project aims to bridge the gap between stablecoins that use overcollateralization and those that apply algorithmic methods. According to the Fei Protocol documentation, the platform wishes to achieve this while remaining decentralized and capital efficient.
The FEI stablecoin is designed to maintain a 1:1 peg with the US dollar. The Fei Protocol manages this stability by offering direct incentives to maintain the peg. The protocol applies a penalty when users sell below $1 and pays a reward when users buy FEI below $1. It has a number of prominent backers such as Coinbase Ventures, MAScent Ventures, Framework Ventures and Buckley Ventures.
Fei Protocol (FEI) is the 151st largest cryptocurrency in the world by market cap, valued at $537,578,048. The current price of Fei Protocol is $1, which is 0.264% higher than yesterday. Prices have ranged between $1.02 and $0.996026 over the past 24 hours. All prices are listed in US dollars and accurate as of October 17, 2021 06:10 UTC.
Where to buy Fei Protocol
Unfortunately, at this time no major exchanges in the United States offer this coin. However, you may be able to purchase it with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Consider buying a different cryptocurrency after comparing popular exchanges.
Fei Protocol at a glance
|Total FEI supply||536,678,588|
|All time high||US$1.11|
|Notable team members||Joey Santoro, Brianna Montgomery, Sebastian Delgado|
Fei Protocol price performance over time
How to sell Fei Protocol
You can cash out your FEI with the same exchange you bought it through:
- Sign in to the exchange you have FEI on.
If you store your Fei Protocol in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of FEI you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Fei Protocol.
What to consider when buying Fei ProtocolIt's important to remember before investing in any stablecoin that the value is intended to be pegged to an underlying fiat currency. This means that there will be little capital growth prospects in buying a stablecoin such as FEI, however, there are other benefits that should be evaluated. Key things to consider about FEI include:
- Incentive model: The project uses an incentive model to penalize users who withdraw liquidity when there is selling pressure. This keeps the token as close to the US dollar as possible. The method is similar to that employed by most central banks that use reserves of gold and foreign currencies to back their currency’s value during periods of strong selling.
- Collateralization issue: When launched in April 2021, the Fei Protocol encountered a collateralization issue triggering the FEI token to drop to as low as $0.80. It took FEI a month to regain its target price of $1.
- FEI vs TRIBE: FEI is the stablecoin of the Fei Protocol and is designed to have a value that tracks the US dollar. TRIBE is the governance token of the Fei Protocol and allows holders to vote on the future direction of the platform and control the decentralized autonomous organisation’s (DAO’s) treasury.
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Disclaimer: Cryptocurrencies, including Fei Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of FEI 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 Fei Protocol or any other cryptocurrency discussed.
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