How to buy Bifrost (BFC) in the UK

Where to buy Bifrost in the UK

It looks like BFC may not be available to purchase on an exchange in the UK.

You can still purchase BFC by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Ethereum and allow users to trade any asset directly with one another.

How to purchase BFC using a decentralised exchange.

1. Find BFC on a decentralised exchange and make sure Bifrost can be traded for ETH which is the native asset of Ethereum. Popular DEXs include Uniswap, SushiSwap and 1INCH.
2. Buy ETH to trade for BFC using an exchange like CoinJar. You will need to purchase enough ETH to swap for BFC 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.
3. Transfer the ETH into a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade ETH for BFC on the DEX of your choice, following the instructions on screen. Make sure to leave enough ETH in your wallet to pay for gas.
5. Wait for the transaction to finalise and the BFC tokens will arrive in your wallet.
6. 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 UK.

Best Bifrost wallets to store your BFC

You can keep your BFC 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 BFC below.

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

Is Bifrost a good investment?

Cryptocurrencies are complicated and speculative. Buying any crypto coin or token comes with a high level of risk. It’s essential that you’re fully aware of all the risks involved before you decide to buy. If you’re thinking of purchasing BFC, make sure you consider the following factors first:

• Innovative middleware: Instead of offering a network that allows other blockchains to communicate, similar to Cosmos or Polkadot, the Bifrost protocol is implemented at the smart contract level. This means Bifrost dApp developers are not constrained to one consensus mechanism and are free to swap and change blockchains at any time. With issues with specific blockchains always posing a risk, developers may find the Bifrost solution extremely attractive. However, time will tell to see how many dApps are built using the protocol.
• Potentially unlimited connections - but not yet: According to the project’s website, Bifrost can connect to any blockchain protocol within the cryptocurrency ecosystem. However, the middleware is currently only connected to Ethereum, Klaytn, Tron, AEthereum and Metadium. The true connectivity of the middleware will truly determine how successful Bifrost will be. The protocol may need to adopt several other blockchain layer-1 protocols before market share can be taken away from competitors.
• Competitors: Bifrost tries to solve the issues with interoperability using a very innovative infrastructure. It offers some advantages over competitors. However, key competitors, such as Cosmos and Polkadot already dominate the interoperability sector. Bifrost will need to capture market share from these protocols before demand for BFC will grow.
• Growing ecosystem: BiFi is Bifrost’s first DeFi application developed using the protocol. With the capacity to connect to Bitcoin and a host of other blockchains, BiFi is intended to be more scalable and transparent than DeFi services built on top of Ethereum. The first application may encourage other developers to follow. Investors should keep track of any new developments within the ecosystem as it may have an impact on the price of BFC.

Today's Bifrost price versus ATH

Compare today's price of Bifrost ($0.04805137 USD) against its all-time-high price of $0.778815 USD on 19 August 2021. The closer the bar is to 100%, the closer BFC is to reaching its ATH again.

How to trade, convert or sell Bifrost

You can convert or sell your BFC with the same exchange you bought it through:

1. Sign in to the exchange you have BFC on.
2. If you store your Bifrost 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 BFC you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of Bifrost.
6. Complete your transaction and move your BFC to a wallet for storage.

* 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.