How to buy Mainframe (MFT)
Learn how to buy Mainframe (MFT) in our step-by-step guide.
Mainframe (MFT) is in the top 1,000 cryptocurrencies by market cap, valued at $157,962,372.
Mainframe is a highly volatile asset capable of major price swings in a single day. Just take a look at today's MFT price of $0.01683006, which is showcasing a double-digit gain of compared to yesterday, when it was trading for $-0.0516917707. Mainframe's seen an increase of 239% over the past year.
So before you buy Mainframe, make sure you understand these unique risks as well as its legal, regulatory and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions and a list of platforms you can buy Mainframe.
How to buy Mainframe in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchangesThe easiest way to buy Mainframe is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an accountTo create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a depositOnce verified, you can deposit USD using the payment method that best suits you – cryptocurrency, card and bank payments are widely accepted.
Buy MainframeYou can now exchange your funds for Mainframe. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Mainframe to your personal wallet.
Where to buy Mainframe
Find an exchange to buy, sell and trade MFT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How we keep this Mainframe guide up-to-date
How do I find the best places to buy Mainframe?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Mainframe?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Mainframe.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing MFT with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Mainframe?
Once you've created an account, you will need to deposit funds to buy MFT with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to to buy MFT:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase MFT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MFT on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Mainframe?
The easiest way to buy MFT is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Best Mainframe wallets to store your MFT
You can keep your MFT 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 take a look at some of our top hardware wallet picks for self-custody of your MFT below.
Is Mainframe a good investment?Key considerations to weigh before you add MFT to your portfolio:
- Low entry requirements: The Hifi ecosystem requires collateral when borrowing or lending. For example, the platform allows users to borrow the USDC stablecoin using WBTC (wrapped Bitcoin) as collateral, with more unique pairs likely to be added in the coming few months. Borrowers will need to manage the volatility to avoid falling below the required collateral threshold.Hifi also uses a system of Guarantor Pools that helps reduce collateral requirements while spreading out volatility risks that the system may be faced with during periods of market turmoil.
- Borrow, lend and supply liquidity: The platform allows users to facilitate seamless loan acquisitions by locking in collateral in order to mint fixed-rate, fixed-term debt tokens. Similarly, users also have the option of buying these debt tokens for a discount, allowing them to earn a set amount of money on their investment when the lock-in period expires. Lastly, users can earn trading fees by simply providing liquidity to Hifi.
- Fixed-rate options: Hifi makes use of the concept of “tokenized debt” through which it allows for fixed-rate, fixed-term lending and borrowing — a concept that is still not a mainstay of the DeFi market since most protocols offer varying annual percentage yields that depend largely on day-to-day market fluctuations.
- Unique operational proposition: Users have the option of acting as guarantors by pooling together their assets in order to protect the system from becoming undercollateralized. In the process, they can earn fees and acquire collateral at a much lower rate when borrowers fail to repay their loans.
Today's Mainframe price versus ATH
Compare today's price of Mainframe ($0.01683006 USD) against its all-time high (ATH) price of $0.060271 on May 30, 2023. The closer the bar is to 100%, the closer MFT is to reaching its ATH again.
How do I trade, convert or sell Mainframe?You can convert or sell your MFT with the same exchange you bought it through:
- Sign in to the exchange you have MFT on.
- If you store your Mainframe 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 MFT you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Mainframe.
- Complete your transaction and move your MFT to a wallet for storage.
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