Crypto Buying Tips

How and Where to Buy FYDcoin (FYD) – Detailed Guide

What is FYD?

What Is FYD (FYD)?

FYD is an online community of freelancers and crypto enthusiasts, working together to realize a decentralized gig-economy utilizing the advantages of web dApps, blockchain and cryptocurrency. Educating newcomers about cryptocurrency, staking, mining, NFT, and Masternodes. FYD has its own live blockchain, never had a pre-sale, ICO or IEO and is funded by the community and automated treasury.

FYD coin is an opensource cryptocurrency designed for (digital) freelancers such as web designers, programmers, animators, writers and online content creators. FYD coins are digital coins (cryptocurrencies) that can be sent from person to person without a bank (How does FYD work). Fast transactions (confirmed under a minute) and low transaction fees (under $0.0001) make FYDcoin useable for P2P microtransactions necessary in the gig-economy.

In addition to transacting value, FYD can also be used to store value. There is a maximum supply (650M) and holders can stake FYDcoin with any household PC or laptop to mint cryptocurrency. FYD coins can be tracked on a decentralized ledger or blockchain explorer which is online available for everyone.

FYD coin is the native currency that is used for:

  • Medium of rapid micro-exchanges between users, third party platforms and FYD’s native applications without the need for a trusted third party such as a bank

  • Incentivizing stakers the support/security of the FYD chain

  • FYD project development through the automated treasury

  • Decentralized governance (on chain)

  • Store of value (finite supply and yearly halving)

  • Eco friendly mining alternative (Proof-of-stake algorithm)

FYD Native applications

  • FYD wallet: A simple to use desktop wallet that allows users to keep their own private keys, stake FYD coin and set up Masternodes without the need for a third party platform.

  • FYDme: An application where freelancers can connect with clients without the need for a third party such as fiverr or upwork.

  • Staking ledger: A hardware wallet that is able to host a copy of the FYD blockchain and can stake FYDcoin for users without the need for a PC/Laptop or third party service.

  • FYDswap: An application where users can swap FYD peer-to-peer for BTC and DASH without the need for a third party exchange

  • FYDwiki: An online platform for newcomers into cryptocurrency. Articles, video’s and more general information for those that would like to do their due diligence.

How Many FYD Coins Are There in Circulation?

FYD Protocol launched its mainnet on Mar 25 2019 09:37:54 with 650.000 FYD created at genesis. Currently there are 547,392,500.07 FYD, which were all minted by the community over 2.5 years. Starting at block 245,001, 10% of every blockreward is automatically redistributed to a community treasury to fund future development.

Currently 70% of the blockrewards are received by the FYD Masternodes (400K FYD collateral), 20% goes to the users that are staking FYDcoin. Currently there are 300M FYDcoin locked as collateral. The current reward for staking is 70 FYD, the current Masternode reward is 140 FYD and the current amount distributed to the community treasury is 10 FYD.

Every 526,001 blocks the blockrewards are reduced until the maximum supply has been reached. The maximum amount of FYD is hardcoded in the protocol at 650.000.000 FYDcoin. The last FYDcoin will be minted in approximately 7 years.

What Makes FYDcoin Unique?

FYD combines the strength of larger cap protocols to create a customized solution for FYD.

Bitcoin has a finite supply and a yearly halving which promotes scarcity, something FYD has as well. There will only ever be 650M FYDcoin. DASH through utilizing Masternodes to secure the network and enabling instant send and governance features. The advantage of PivX: staking for smaller users is something FYD implemented.

FYD is (like Bitcoin) not owned by a single entity, the project was initially abandoned by the developer and continued by a decentralized community. Staking FYD can be a way for newcomers to get introduced to multiple aspects of cryptocurrency (finite supply, staking/minting, masternodes, halving, wallets). There is not a single FYD coin that has not been bought, or minted. FYDcoin will reach its finite supply before Bitcoin.

Who Are the Founders of FYD Protocol?

FYD is (like Bitcoin) not owned by a single entity, the project was initially abandoned by the developer who sold the pre-mined coins and continued by a decentralized community.

FYDcoin has been trading on the exchanges from the first week. As the project progressed, the initial developer handed over the project to the community and sold remaining coins on the exchanges. This allowed the community to buy in and stake FYDcoins or set up Masternodes to generate additional FYDcoins.

With a larger group of crypto enthusiasts and freelancers each with a fair share of the coins without an ICO/ IEO, the progression of FYD benefits the community as a whole. To further development, a community treasury was implemented in the protocol at block 245,001. This was voted for by the community.

Where Can I Buy FYDcoin (FYD)?

FYD is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.

Binance offers the largest number of pairs as of October 2020, while Huobi Global also offers Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) options.

New to cryptocurrency?

FYD has articles and simple instruction video’s for beginners Cryptocurrency article for beginners Cryptocurrency video for beginners

Staking crypto article for beginners

Staking crypto video for beginners

Masternode article for beginners Masternode video for beginners

Crypto mining article for beginners

Crypto mining video for beginners NFT token article for beginners

NFT token video for beginners

Read CoinMarketCap’s easy guide to buying Bitcoin or any other token.

FYD was first tradable on 24th Feb, 2020. It has a total supply of 640,947,977.9,480,768. As of right now FYD has a market capitalization of USD $475,851.06. The current price of FYD is $0.000732 and is ranked 1535 on Coinmarketcap and has recently surged 39.35 percent at the time of writing.

FYD has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FYD.

Step 1: Register on Fiat-to-Crypto Exchange

You will have to first buy one of the major cryptocurrencies, in this case, Bitcoin (BTC). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.

uphold

Suitable for US traders

Select Fiat-to-Crypto Exchange for details:

FYD

Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:

  • Easy to buy and trade among multiple assets, more than 50 and still adding
  • Currently more than 7M users worldwide
  • You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
  • Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
  • No hidden fees and any other account fees
  • There are limited buy/sell orders for more advanced users
  • You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
  • USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.
Show Details Steps ▾
FYD

Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.

FYD

You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.

FYD

Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.

Step 2: Buy BTC with fiat money

FYD

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.

FYD

Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Bitcoin, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.

Step 3: Transfer BTC to an Altcoin Exchange

But we are not done yet, since FYD is an altcoin we need to transfer our BTC to an exchange that FYD can be traded. Below is a list of exchanges that offers to trade FYD in various market pairs, head to their websites and register for an account.

Once finished you will then need to deposit BTC to the exchange from UpHold. After the deposit is confirmed you may then purchase FYD from the exchange view.

Exchange
Market Pair
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FYD/BTC
FYD/BTC
FYD/BTC

Last Step: Store FYD securely in hardware wallets

Ledger Nano S

Ledger Nano S

  • Easy to set up and friendly interface
  • Can be used on desktops and laptops
  • Lightweight and Portable
  • Support most blockchains and wide range of (ERC-20/BEP-20) tokens
  • Multiple languages available
  • Built by a well-established company found in 2014 with great chip security
  • Affordable price
Ledger Nano X

Ledger Nano X

  • More powerful secure element chip (ST33) than Ledger Nano S
  • Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
  • Lightweight and Portable with built-in rechargeable battery
  • Larger screen
  • More storage space than Ledger Nano S
  • Support most blockchains and wide range of (ERC-20/BEP-20) tokens
  • Multiple languages available
  • Built by a well-established company found in 2014 with great chip security
  • Affordable price

If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your FYD for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.

Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.

Frequently Asked Questions

Can I buy FYD with cash?

There is no direct way to buy FYD with cash. However, you can use marketplaces such as LocalBitcoins to first purchase BTC, and finish the rest of the steps by transferring your BTC to respective AltCoin exchanges.

LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.

Are there any quick ways to buy FYD in Europe?

Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.

Are there any alternative platforms to buy FYD or Bitcoin with credit cards?

Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.

Read more on FYDcoin's fundamentals and current price here.

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