How to Buy Frax Share Right Now
In this article, we will show you how to buy Frax Share easily. By the end of this article you would learn how to buy FXS with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is Frax Share? Our review
- Current prices
- Where to buy FXS
- How to safely store FXS
- Frequently asked questions
Current Frax Share Price Stats
|FXS Price||$8.1492 USD|
|Price Change24h||$-1.0317 USD (-11.24%)|
|24h Low / 24h High||$8.1268 / $9.6246 USD|
|Trading Volume24h||$135,209 USD|
What is Frax Share? A Review
The Frax Share token (FXS) is the non-stable, value-accrual token in the Frax protocol. It is meant to be volatile and hold rights to governance and all excess collateral of the system.
Where and How to Buy Frax Share (FXS) Coin
There are 3 steps to purchasing Frax Share. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports FXS: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the FXS/BTC trading pairs.
- Buy Frax Share on the Exchange: Now, you can buy Frax Share with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different FXS pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store Frax Share Crypto
Once you buy Frax Share, the next question you'd have is "where do I store my Frax Shares?". It is quiet easy to store your Frax Share tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store Frax Share. If Frax Share is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling Frax Share for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.