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How to buy Fei USD (FEI)
Learn how to buy Fei USD (FEI) in our step-by-step guide.
Where to buy Fei USD
It looks like FEI may not be available to purchase on an exchange in the US.
You can still purchase FEI by using a decentralized exchange (DEX) instead. Decentralized exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.
Decentralized exchanges (DEX) are unregulated and run using autonomous pieces of code known as smart contracts. To use a DEX you must interact with the blockchain directly, which is not recommended for novice users. Please learn about decentralized exchanges first if you're unfamiliar.
How to purchase FEI using a decentralized exchange.
- Find FEI on a decentralized exchange and make sure Fei USD can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
- Buy ETH to trade for FEI using an exchange like Gemini. You will need to purchase enough ETH to swap for FEI as well as ETH to pay for transaction fees on the Ethereum network (known as gas). You can use a service like Etherscan to get an idea of how much gas fees currently cost.
- Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
- Trade ETH for FEI on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
- Wait for the transaction to finalize and the FEI tokens will arrive in your wallet.
- You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.
You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the US.
Best Fei USD wallets to store your FEI
You can keep your FEI on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is Fei USD a good investment?It'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.
- Collateralisation issue: When launched in April 2021, the Fei Protocol encountered a collateralisation 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.
Additional information about Fei USD can be found using our FEI analysis tools.
Today's Fei USD price versus ATH
Compare today's price of Fei USD ($1.005 USD) against its all-time-high price of $1.11 USD on 19 May 2021. The closer the bar is to 100%, the closer FEI is to reaching its ATH again.
ATH date: May 19, 2021
Fei USD ATH: $1.11
How to trade, convert or sell Fei USDYou can convert or sell your FEI with the same exchange you bought it through:
- Sign in to the exchange you have FEI on.
- If you store your Fei USD in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of FEI you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Fei USD.
- Complete your transaction and move your FEI to a wallet for storage.
Disclaimer: Cryptocurrencies, including Fei USD, 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 USD or any other cryptocurrency discussed.
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