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How to buy Beefy.Finance (BIFI) in the UK

Learn how to buy Beefy.Finance (BIFI) in our step-by-step guide.

Beefy.Finance (BIFI) is the 537th largest cryptocurrency by market cap, valued at US$34,487,518.

Beefy.Finance is a highly volatile asset capable of major price swings in a single day. Today BIFI is trading for $431.04 USD, which is higher than yesterday's trading price of $428.98 USD. Over the past year, Beefy.Finance's price has seen a decrease of -33%.

So before you buy Beefy.Finance, make sure you understand these unique risks as well as its legal and tax status here in the UK.

If you're ready to get started, read on for step-by-step instructions on how you can buy Beefy.Finance.

How to buy Beefy.Finance 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.

  1. Compare crypto exchanges
    The easiest way to buy Beefy.Finance 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.
  2. Create an account
    To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
  3. Make a deposit
    Once verified, you can deposit GBP using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Beefy.Finance
    You can now exchange your funds for Beefy.Finance. 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 Beefy.Finance to your personal wallet.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Where to buy Beefy.Finance in the UK

Find an exchange to buy, sell and trade BIFI by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
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How we keep this Beefy.Finance guide up-to-date

  • BIFI price data is regularly updated through data feeds so you always have the latest information.
  • Beefy.Finance performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.

How do I find the best places to buy Beefy.Finance?

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 the UK 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 Beefy.Finance?

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 Beefy.Finance.

  • 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 BIFI 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 is the easiest way to buy Beefy.Finance?

The easiest way to buy BIFI 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.

Before buying BIFI, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Beefy.Finance has been performing recently.

Best Beefy.Finance wallets to store your BIFI

You can keep your BIFI 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 BIFI below.

Ledger Nano X Wallet

Trezor Model T Wallet

Go to site
Go to site

Supported assets

5,500+

Supported assets

1,317+

Price (USD)

$149

Price (USD)

$186

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is Beefy.Finance a good investment?

Before purchasing the BIFI token, it is always worth researching both the token and the associated platform to assess the risks and see what factors may influence its price.
  • Circulation. At launch, the maximum supply of BIFI was capped at 80,000 tokens. As of June 2021, 72,000 of those coins are already in circulation, distributed among 16,277 holders. This represents 95% of the total supply.
  • Competition. Adapting to the ever-evolving cryptocurrency market is an important element of the success of the platform. Yield farming has become popular and Beefy Finance is smartly snapping up this market gap. However, it is not the only blockchain-based service with this idea. Competitors include Yearn.finance, Pickle, Autofarm and Idle. How they innovate and outmanoeuvre the competition will be important
  • Risk. Buying BIFI coins from a decentralised exchange (DEX) and holding them in a wallet presents no greater risk than any other cryptocurrency. However, yield farming is a relatively new exercise and is yet to stand the test of time. There is also no guarantee on returns. Active yield farmers can lose money on their investments. Even though automated yield optimisers intend to mitigate this risk, there are no guarantees. If yield farming fell in popularity, so too would the viability of Beefy Finance and the use of the BIFI token.

Today's Beefy.Finance price versus ATH

Compare today's price of Beefy.Finance ($431.04 USD) against its all-time-high price of $4116.95 USD on 16 March 2021. The closer the bar is to 100%, the closer BIFI is to reaching its ATH again.

Beefy.Finance's price: $431.04
ATH date: March 16, 2021
10.47%

Beefy.Finance ATH: $4116.95


How to trade, convert or sell Beefy.Finance

You can convert or sell your BIFI with the same exchange you bought it through:
  1. Sign in to the exchange you have BIFI on.
  2. If you store your Beefy.Finance in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of BIFI you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Beefy.Finance.
  6. Complete your transaction and move your BIFI to a wallet for storage.
  1. Beefy.Finance Docs
  2. Coinmarketcap
  3. Data by CoinGecko

* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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