How to buy Hifi Finance (MFT) in the UK
A beginner's guide to buying and selling MFT in the UK.
How to buy Hifi Finance
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Hifi Finance.
- Open an account on an exchange that supports MFT.
Unfortunately, at this time no major exchanges in the United Kingdom offer MFT, but you may be able to purchase it with another cryptocurrency. Just be sure to follow all legal restrictions and requirements.
- 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 Hifi Finance.
- Buy Hifi Finance.
Complete your Hifi Finance purchase and then find the best wallet to store MFT.
What is Hifi Finance?
Mainframe, now rebranded as Hifi Finance, is primarily a lending protocol that is designed to help users borrow various assets in exchange for their personal crypto holdings. To be a bit more specific, the platform allows individuals to create fungible debt obligations on the Ethereum blockchain while providing them with fixed-rate lending options. As a result, investors can map out their finances and trading strategies in a much more efficient manner. The Mainframe Token (MFT) is the native cryptocurrency of the Hifi ecosystem and is used for a variety of different purposes, such as on-chain governance, staking and rewards. The more MFT a user possesses, the more say they have in terms of how the platform should be administered.
Hifi Finance (MFT) is the 413rd largest cryptocurrency in the world by market cap, valued at $125,580,767. The current price of Hifi Finance is $0.01338556, which is 0.175% higher than yesterday. Prices have ranged between $0.0135637 and $0.01322485 over the past 24 hours. All prices are listed in US dollars and accurate as of October 26, 2021 06:10 UTC.
Where to buy Hifi Finance
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.
Is it a good time to buy Hifi Finance?
The technical analysis gauge for Hifi Finance displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Hifi Finance based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Hifi Finance: moving averages, oscillators and pivots. Finder is not responsible for how MFT performs.
Hifi Finance at a glance
|Total MFT supply||10,000,000,000|
|All time high||US$0.03490552|
|All time high date||April 03, 2021|
|Notable team members||Doug Leonard|
|Token uses||Utility token|
Hifi Finance price performance over time
How to sell Hifi Finance
You can cash out your MFT with the same exchange you bought it through:
- Sign in to the exchange you have MFT on.
If you store your Hifi Finance in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of MFT you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Hifi Finance.
What to consider when buying Hifi FinanceKey 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.
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Disclaimer: Cryptocurrencies, including Hifi Finance, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MFT 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 Hifi Finance or any other cryptocurrency discussed.
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