Factom FCT

Rank #867
$0.6920786
Market Cap
$7,240,688.9
Volume(24h)
$0.0000000
Circulating supply
10,462,234 FCT
Price change(1h)
0%
Price change(24h)
0%

Buy Fees History

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Exchange Action
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How To Buy Factom(FCT)

1. Choose an Exchange

Factom can’t be purchased through your bank or investing firm yet — though some organizations are working toward that possibility in the future. For now, you’ll have to go through a cryptocurrency trading platform to exchange your U.S. dollars (fiat currencies) for Factom or other digital currencies.

There are 7 of Factom exchange you can use to buy Factom online. BitGet, Bittrex, Liquid these recommended exchanges are online platforms where you can buy and sell Factom

Security

Cryptocurrency investments are not backed by a central institution like FDIC-insured bank accounts. If your account is compromised, or the platform where you keep your coins is hacked, you could be at risk of losing your investment.

If you plan to keep your crypto on your account with an exchange (rather than move it into your own crypto wallet), make sure you choose an exchange that uses offline, cold storage, and has strong protections against theft. Some exchanges also have independent insurance policies to help protect investors from potential hacking.

Fees

Exchange fees can vary greatly, and may be applied as a flat fee upfront or as a percentage of your trades. Fees can be based on price volatility, and many are charged per transaction.

While fees should definitely be a consideration, experts say you also get what you pay for, especially when sticking to the bigger, more established exchanges like BitGet, Bittrex, Liquid. If an exchange has more protections, better security, or other important features to you, it may be worth slightly higher fees.

Some exchanges charge fees based on a spread, or margin on top of the market price. Others base fees on a flat rate or percentage of your total purchase, which can vary based on your location, payment method, and other factors.

Exchanges with more active trading features often use a fee model determined by market price fluctuations, known as maker-taker fees. If you buy at the current market price, you’ll be charged a (usually higher) “taker” fee. Or, you can set a price at which you want to buy, and wait for the market to reach that point. That’s known as a limit order, and incurs a “maker” fee.

Make sure you know what fees you’ll be charged  which you can find on the exchange’s website before signing up. The fee structure should be clearly stated when you make your purchase, but it can help to factor in that cost beforehand so you don’t spend more than you expected.

Compare exchange fees

Exchange Maker fees Taker fees Action
0.1% 0.1%
0.75% 0.75% Trade now
0.00% 0.15% Trade now

2. Choose how you want to buy the Factom(FCT) asset.

A. Credit Card and Debit Card :

Credit Card: A credit card is a payment card issued by a financial institution that allows the cardholder to borrow funds to make purchases. When buying Factom with a credit card, you typically provide your card details on a cryptocurrency exchange. The exchange will process the payment and credit the corresponding amount of Factom to your account. However, it’s worth noting that not all exchanges accept credit card payments for Factom purchases due to factors like potential chargeback risks.

Debit Card: A debit card is linked directly to your bank account and allows you to make purchases using funds available in your account. Similar to credit cards, some exchanges and platforms accept debit card payments for buying Factom. You’ll need to provide your card details, and the exchange will deduct the necessary funds from your account to complete the Factom purchase.

Link your debit or credit card, fill in your purchase amount in the order form, verify the payment, and wait for the transaction to be completed

B. Bank Deposit :

Bank deposit is a payment method where you transfer funds directly from your bank account to the exchange. To buy Factom using a bank deposit, you usually initiate a transfer from your bank to the designated bank account of the exchange. Once the transfer is confirmed, the corresponding amount of Factom will be credited to your account.

What are the pros of buying with a bank account?

The benefits of using a bank account are fees. Bank account is usually the cheapest deposit method for buying Factom. Limits are also usually higher when using a bank account, assuming you have verified your account.

What are the cons of buying with a bank account?

The cons are speed. Bank transfers are slow in many countries, so bank transfer is often the slowest way to buy Factom.

C. P2P Trading

P2P stands for “peer-to-peer.” P2P trading refers to the direct exchange of Factom between two individuals or parties without the involvement of intermediaries such as banks or centralized exchanges. P2P trading platforms connect buyers and sellers directly, allowing them to trade buy Factom directly with each other. These platforms typically facilitate the matching of buyers and sellers and provide an escrow service to ensure secure transactions. P2P trading can be advantageous for individuals who prefer privacy, want to negotiate prices, or have limited access to traditional banking services.

D. Third Party Payment

Third-party payment services are intermediary platforms that facilitate the payment process when buying Factom . Instead of directly sending payment to the seller, the buyer uses a third-party payment service to transfer funds. These services act as an intermediary, holding the funds in escrow until the transaction is completed satisfactorily. Once the buyer receives the Factom , the payment is released to the seller. Third-party payment services can provide an additional layer of security and trust for both parties involved in the transaction. They may also offer additional features such as dispute resolution in case of any issues during the trade.

3. Safe Storage

The best place to store your Factom depends on what you intend to use them for. it may be best to keep them with the crypto exchange or broker where you do your trading, especially if you’re trading frequently or in the near term. Others may opt for a crypto wallet, A cryptocurrency wallet is a place to store digital currency. There are various types of cryptocurrency wallets available, and they all have different levels of security associated.

Two popular options for this latter group include hot wallets and cold wallets.

With a hot wallet, Factom is stored by a trusted exchange or provider in the cloud and accessed through an app or computer browser on the internet. Any trading exchange you join will offer a free Factom hot wallet where your purchases will automatically be stored. But many users prefer to transfer and store their Factom with a third-party hot wallet provider, also typically free to download and use.

Cold wallet providers include: Trezor: This company offers small, key-size cold wallets ranging from about $60 to $220. Ledger Nano: Designed like a thumb drive, Ledger Nano has cold wallets ranging from about $60 to $120.

What information is needed to purchase Factom?

When you open an account at a traditional brokerage or a crypto exchange, you’ll need to provide basic personal information. Of course, you’ll need to provide your name, but the firm will also require other data such as your Social Security number, your address, your phone number and your bank account number. You may also have to detail how much trading experience you have and how comfortable you are with trading, depending on the institution.

4. What can you do with your Factom?

Once converted from Factom to a fiat currency, Factom users can use their cash to purchase anything they want. As far as using Factom directly for payments, those options are much more limited.

Hold

A lot of customers hold onto their Factom in the hope that its value goes up.

Spend

Use your Factom to pay for travel, buy gift cards, eat at restaurants, and more. The number of places that accept Factom is growing every day.

Sell

Selling crypto on BitGet, Bittrex, Liquid is easy, and you can cash out your proceeds to your bank or PayPal account.

Transfer

Unlike sending money overseas, you can send Factom to anyone in the world virtually instantly.

Convert

Want to own other crypto? Convert any portion of your Factom balance to another crypto.

Give

Donate Factom to people in need on websites such as.

Factom(FCT) Historical Year

YEAR

%change

CLOSE

2022
-27.886%
$0.9597033243
2021
-53.715%
$1.49525796
2020
-65.915%
$2.0304589767
2019
-88.202%
$5.8658623029
2018
-97.834%
$31.9552993774
2017
-80.650%
$3.5766499043
2016
-18.347%
$0.847589016

FAQ

How do I buy Factom(FCT)?

You can buy Factom(FCT) on a cryptocurrency exchange, through a broker, or directly from an individual. Popular exchanges in terms of credibility are listed by us above

Do I need a Factom(FCT) wallet to buy Factom(FCT)?

Not necessary, but if you want you may need a digital wallet to store your Factom(FCT) after you purchase it. A digital wallet is a software program that stores your public and private keys and allows you to send and receive Factom(FCT).

Is it safe to buy Factom(FCT)?

Buying Factom(FCT) is generally considered safe as long as you use a reputable platform and take steps to secure your account, such as enabling two-factor authentication. However, the cryptocurrency market can be highly volatile and there is always a risk of losing money.

Are there any fees when buying Factom(FCT)?

Most platforms that allow you to buy Factom(FCT) will charge fees for their services, which can include transaction fees, deposit fees, and withdrawal fees. The fees can vary depending on the platform you use and the payment method you choose.

Can I buy Factom(FCT) with a credit card?

Yes, you can buy Factom(FCT) with a credit card on many cryptocurrency exchanges. However, purchasing Factom(FCT) with a credit card can result in higher fees compared to other payment methods.

Can I buy Factom(FCT) with my bank account?

Yes, you can buy Factom(FCT) with your bank account on many cryptocurrency exchanges. Bank transfers are a popular payment method for buying Factom(FCT) as they offer relatively low fees and are relatively fast compared to other options.

Can I use PayPal to buy Factom(FCT)?

Yes, some cryptocurrency exchanges accept PayPal as a payment method for buying Factom(FCT). However, not all exchanges accept PayPal, and it's important to check the fees and processing times associated with using PayPal on the platform you choose.

What is the current price of Factom(FCT)?

The current price of Factom(FCT) can vary depending on the exchange you use. You can check the latest price on the website of your chosen exchange.

What is a Factom(FCT) exchange?

A Factom(FCT) exchange is a platform that allows you to buy, sell, or trade Factom(FCT) and other cryptocurrencies. The exchange acts as a middleman between buyers and sellers and often charges a fee for its services.

What factors should I consider when choosing a Factom(FCT) exchange?

Here are some factors to consider when choosing a Factom(FCT) exchange: Security: Make sure the exchange has a strong track record for security and has taken measures to protect user funds. Fees: Consider the fees associated with buying and selling Factom(FCT) on the exchange, including deposit fees, transaction fees, and withdrawal fees. Payment methods: Check what payment methods the exchange accepts and choose one that is convenient for you. User-friendliness: Look for an exchange that is easy to use and has a user-friendly interface. Location: Some exchanges only serve specific countries, so make sure the exchange you choose is available in your country. Customer support: Consider the level of customer support offered by the exchange, including live chat, email, and phone support.

Can I buy Factom(FCT) anonymously?

It is possible to buy Factom(FCT) anonymously, but this is becoming increasingly difficult as regulations require exchanges to collect personal information from users. If you want to maintain your privacy, you can use a decentralized exchange that allows you to trade directly with other users, or you can use a privacy-focused cryptocurrency such as Monero.

How long does it take to buy Factom(FCT)?

The time it takes to buy Factom(FCT) can vary depending on the payment method you choose. For example, bank transfers can take several days, while credit card purchases may be processed instantly. It's important to check the processing time for your chosen payment method on the platform you're using before you make a purchase.

Can I sell my Factom(FCT)?

Yes, you can sell your Factom(FCT) on a cryptocurrency exchange or to an individual. The process of selling Factom(FCT) is similar to buying, and you can receive payment in the form of a bank transfer, PayPal, or other payment methods.

What are the risks of buying Factom(FCT)?

There are several risks associated with buying Factom(FCT), including price volatility, security risks, and regulatory risks. It's important to thoroughly research and understand the risks involved before making any investment in Factom(FCT). Additionally, it's important to keep your Factom(FCT) secure by using a reputable wallet and taking steps to protect your account, such as enabling two-factor authentication.

Can I store my Factom(FCT) on an exchange?

Yes, you can store your Factom(FCT) on an exchange, but this is not recommended for long-term storage. Exchanges are vulnerable to hacking and other security risks, and there have been instances in the past where exchanges have lost user funds. It's generally recommended to store your Factom(FCT) in a secure and private wallet.
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