How to buy DeFiChain (DFI) in the UK

A beginner's guide to buying and selling DFI in the UK.

DeFiChain
DFI- USD
DEFI
$2.47
-$0.06 (-2.53%)

How to buy DeFiChain

Look for an exchange that supports both fiat and cryptocurrency to simplify buying DeFiChain.

  1. Open an account on an exchange that supports DFI.
    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.
  2. 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 DeFiChain.
  3. Buy DeFiChain.
    Complete your DeFiChain purchase and then find the best wallet to store DFI.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is DeFiChain?

DeFiChain is a blockchain designed for a broad range of DeFi applications, while being anchored to the Bitcoin blockchain in order to piggy-back some of its network features. It runs on a proof of stake consensus mechanism. In periodic intervals, the network saves its most recent Merkle tree to the Bitcoin blockchain. DFI is the native token of the DeFiChain blockchain and acts as both the utility token and the governance token of the network. The token is used for fee payment for DEX transactions and as a fee payment for token transfers in addition to smart contracts. It is also used as collateral for borrowing other cryptocurrencies on the network.

DeFiChain (DFI) is in the top 1,000 cryptocurrencies in the world by market cap. The current price of DeFiChain is $2.48, which is -1.508% lower than yesterday. Prices have ranged between $2.58 and $2.48 over the past 24 hours. All prices are listed in US dollars and accurate as of August 02, 2021 09:08 UTC.

Where to buy

Unfortunately, at this time no major exchanges in the United Kingdom 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.

DeFiChain at a glance

Information last updated August 02, 2021 09:08 UTC.
Coin symbolDFI
Total DFI supply1,200,000,000
Current priceUS$2.48
All time highUS$4.94
Notable team membersDr Julian Hosp
IndustryDecentralised finance
Token usesUtility token
NetworkEthereum

DeFiChain price performance over time

Historical prices compared with the price of US$2.48.

1 hour -0.88%
24 hours -1.51%
7 days 16.20%
14 days 26.47%
30 days 11.74%
60 days -18.42%
200 days 18.24%
1 year 892.68%

How to sell DeFiChain

You can cash out your DFI with the same exchange you bought it through:

  1. Sign in to the exchange you have DFI on.
    If you store your DeFiChain in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of DFI you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of DeFiChain.

What to consider when buying DeFiChain

Before you add DFI to your cryptocurrency portfolio, it is highly critical that you are aware of certain aspects that impact the price and economics of the token. Some of these aspects are:
  • Supply. The supply of DFI tokens is limited to 1.2 billion tokens in its entire lifetime. 49% of these tokens were a part of the initial supply while the rest will be issued to masternode holders over time. Thus, it is a deflationary utility token.
  • Governance. The DeFiChain Foundation is governed by an independent board, consisting of the DeFi masternodes, that votes on its members and provides directions on key decisions. You need to own a minimum of 20,000 tokens to become a masternode and receive staking rewards.
  • Time decay. It is important to note that the returns that the masternodes receive for staking will decrease as time passes. This reduction will be compensated by the increase in volume and the number of transactions as the network becomes more active.
  • Acquiring DFI tokens. According to the project’s whitepaper, these coins can only be acquired by users of DeFiChain or partners that have an interest in utilising and participating in the ecosystem. There won’t be a public sale or a public token offering for this asset.
  • Issuance schedule. The network offers a block reward of 200 DFI, out of which 10% goes to the community fund. This reward is consistent until a minimum of 1,050,000 blocks are created after the genesis block, an approximate time window of 1 year. After this point, the block rewards will be decided and adjusted based on governance votes. The project has proposed a staking schedule for 10 years which shows the block reward gradually decreasing to 5 DFI in the 10th year. At the same time, the staking rewards decrease from 42.91% to 0.44%.
Disclaimer: Cryptocurrencies, including DeFiChain, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DFI 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 DeFiChain or any other cryptocurrency discussed.

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