How to buy FUNToken - Where to Purchase FUN?
Funfair token was rebranded to FUNToken (FUN) a few years ago. The online gambling and gaming industry is one of the fastest rising in the world, and this is where Funfair continues to shine. FUNToken is an asset developed uniquely for the online gambling and gaming sector.
The token combines the unique qualities of the Ethereum blockchain and a high-end tech stack. Ultimately, making FUN a powerful resource for online gamers, platforms and developers. In this article, we are going to explain how to buy and invest in FUNToken.
Buy FUNToken in just a few minutes
Create a free account
Fund your account
Start trading FUNToken
Why Trade rather than Buy FUNToken for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top FUNToken Brokers
If you are considering where to buy FUNToken, the best place to get started is with cryptocurrency brokers. Buying the token via a broker is the easiest way to take a position in Funfair. However, the best platform to buy FUNToken will depend on your preference since numerous brokerage platforms are available.
5 Things to Consider if you want to Buy FUNToken
Before you purchase FUNToken for the first time, you need to consider some crucial factors. These factors would help you ensure your transactions are safe and are processed as soon as possible. Some of these are discussed below.
1. Carefully choose your preferred secure payment method
The first thing to do is to choose your preferred secure payment method. There are varying payment methods available to traders in various parts of the world. Hence, choose the payment method available in your region. Also, consider the factors such as the speed and cost of transactions when choosing your preferred payment method.
2. Will you need to set up your own wallet?
Setting up an independent wallet is crucial for FUNToken traders. It is needed to secure your funds. There are in-built exchange wallets, but we don't recommend them because they are more vulnerable to theft and hack. However, when you use cryptocurrency brokers, you don't need to set up a wallet because you are only accessing FUNTokens as a CFD. This reduces the chances of theft and other vices.
3. Comparing costs
You need to compare the costs and fees associated with transactions on cryptocurrency platforms that offer FUNToken. The cost of transactions differs, and you can research to find the most affordable ones for you. However, the cost of transactions for cryptocurrencies is so much cheaper compared to the traditional financial systems.
4. Safety and security
The security of your cryptocurrency is also another thing you need to consider. FUNToken is a decentralised cryptocurrency, which means you get to enjoy excellent security features such as cryptography, private-and-public key encryption and several others. Funfair is built on the Ethereum blockchain, one of the most secure blockchains globally. The cryptocurrency brokerage platforms also integrate security measures that ensure your funds and personal data remain safe. In addition to verifying your account with a broker, they integrated 2-factor authentication (2FA), providing an extra layer of security on your account. The brokerage platforms also use secure trading platforms like MT4 and MT5.
5. Can you understand and navigate the platform?
Before choosing the cryptocurrency platform where you wish to trade FUNToken, ensure that you can easily learn how it works. Understanding how to navigate the brokerage platform will make it easy for you to trade FUNToken and a wide range of other cryptocurrencies. Take time to explore the software before choosing to use them for your trading activities.
Ultimate Beginner's Guide to Trading FUNToken
What is a FUNToken Broker?
Brokers are financial platforms that serve as intermediaries, and help you to execute trades. Brokerage platforms have changed their model of operation since the advent of the internet. The brokers grant you exposure to FUNToken, allowing you to trade or invest in it without holding the actual coins. Funfair is a leading online gaming and gambling project, which means it is available on numerous brokerage platforms.
What is a FUNToken CFD?
CFD stands for Contract for Differences. It is a trading instrument that allows traders and investors to speculate on the price change of a cryptocurrency or any other financial assets. This means that you are opening a buy or sell position on a financial asset.
FUNToken CFDs trading offers traders numerous advantages. For starters, it allows you to make money even when the market is moving in a negative direction. This implies that if you bet on the price going lower, and it does, you will earn a profit. CFDs also allow you to earn more than you invested using tools such as margin. Although it can multiply your profits, it can also multiply your losses.
What is the Benefit of Funfair Regulation?
Regulation is important because the cryptocurrency market is growing, and regulators are now making moves to regulate them. Crypto brokers regulated by financial regulatory agencies means that they would provide better security for your funds and personal data. With the history of hacks and theft from the crypto space over the past years, trading with regulated brokers will put your mind to ease as you know your funds and personal information are safe and secure.
What is the Best Payment Method for Buying FUNToken?
There are numerous payment options available for buying FUNToken. The process of purchasing FUN is easy. However, keep in mind that some payment methods are not available in certain locations. Hence, you have to consider the options available in your region before deciding.
Buying FUNToken with PayPal: PayPal is one of the most widely used online payment platforms. Transaction fees are reasonable with PayPal, but there are other cheap alternatives. Ensure you research and find the cheapest and most effective one for you. Furthermore, PayPal is not offered by all cryptocurrency platforms currently.
Buying FUNToken with Cash: You can also use cash to buy FUNToken. However, this might be tough considering the cryptocurrency is sold online and not in physical stores. This means it would be tough to find someone that you can give physical cash in exchange for FUN tokens.
Buying FUNToken with Bank Transfer: A bank transfer is one of the most popular options for buying FUN tokens. The transaction fees are low, but it could take days before the funds reflect in your crypto brokerage account. Furthermore, not every cryptocurrency brokerage platform accepts this as a payment method.
Buying FUNToken with Credit Cards or Debit Cards: This is the most popular and convenient way to buy FUNToken. Virtually all cryptocurrency brokers accept credit and debit cards. However, they have higher transaction fees as compared to the other options.
The Verification Process for Trading FUNToken
When you open a crypto brokerage account, you will have to verify it before you move forward. The verification process usually involves providing some form of address confirmation, along with a government-approved form of ID. The process is swift and easy.
FUNToken: Long vs. Short Term Investment
Short term and long term investments in FUNToken are different. Short term investment implies that you purchase FUNToken at a lower price and sell it once it goes higher, usually within a few days or weeks. However, long term investment means you are bullish on FUNToken's price performance, and you can hold the token for months or sometimes years.
With a short term FUNToken investment, you stand to make a quick profit, but there are risks attached. Furthermore, long term investment will require you to understand the fundamentals of the Funfair project.
Why Buy FUNToken rather than Trade?
Several investors still don't know how to buy FUNToken, and there are debates about whether purchasing the token is better than trading it. However, buying FUN and holding it for a while has its advantages, which include;
- Access to the physical coin: When you purchase FUNToken, you gain access to the real coin, which you can use for several functions. You can hold the token for the long term and earn profits in the process, or you can use it on the Funfair gaming and gambling platform.
- Long term investment: You can buy FUNToken cheap and hold it for the long-term, allowing you to sell it in the future for massive profits. Buying FUN allows you to hold the coin safely in a wallet for a longer period of time, ensuring that you are less vulnerable to market fluctuations. While traders only want short-term gains, buying FUNToken allows you to enjoy the long-term and more substantial gains in the asset.
- Token control: When you buy FUNToken, you retail control over the tokens at all times. Although you can store your coins with crypto exchanges, they are still vulnerable to attacks and more. This is why it is best to store the tokens in a private cryptocurrency wallet, ensuring your funds are safe at all times. Furthermore, there are fewer fees associated with directly buying and holding the token than holding it within an exchange.
Always keep in mind that buying and holding a cryptocurrency is an investment, and you need to conduct in-depth research before you make any decision. As an investor, you need to research the best wallet to use, the cryptocurrency trading platform that offers you the best security and competent trading fees.
What Fees are Involved in Buying FUNToken?
Buying FUNToken attracts some charges, both from the cryptocurrency itself as network miners and nodes are compensated and from the crypto trading platforms. Although the fee might be negligible if you intend to buy and hold FUN for the long term, you might want to compare the costs of the various platforms before you decide.
Transaction Fees: There are network fees associated with FUNToken transactions. FUNToken is built on the Ethereum network, which means you have to pay the Ethereum gas fees to carry out transactions with the FUN token. The gas fees change according to the network congestion.
Deposit Fees: The deposit fee for FUNToken differs from one broker to another and from one cryptocurrency exchange to another. Ensure you do your research and find the platforms with the best deposit fee offering.
Withdrawal Fees: Also, the withdrawal fees for FUNToken differ between brokers and exchanges. However, some platforms don't charge withdrawal fees. Ensure you research the platforms and their withdrawal fees before you start trading with one.
Safely Storing Your FUNToken
You can safely store your FUN tokens in an online wallet or a hardware wallet. They allow you to store the tokens, making you less susceptible to hacks and theft.
Web Wallet: These are popular wallets built into the brokerage and exchange platforms. The web wallets offer an easy and convenient way to store FUNToken. However, they don't offer a very high level of security. Exchanges have been prone to hack, and some have shut down business over the past few years. Hence, leaving your tokens in their wallets does come with certain risks, and you should consider this when making a decision.
Mobile Wallet: These are wallets designed to be used on your mobile phones. The security here is better than on exchange due to the addition of extra layers of security in mobile devices. However, they are also vulnerable to hacks and theft, especially if someone can gain access to your mobile phone. Some of the popular Ethereum (that support FUNToken) mobile wallets include ZenGo, TrustWallet, Jaxx Liberty and BRD.
Desktop Wallet: These are computer software programs that allow you to store your FUN tokens. They are preferable to mobile wallets because they offer more security. With desktop wallets, you can add security measures such as the 2FA to ensure your funds remain secure. Some of the leading FUNToken desktop wallets include MyEtherWallet, MyCrypto, MetaMask and Exodus.
Hardware Wallet: Hardware wallets are the most secure and the ones we recommend. Contrary to the other classes above, hardware wallets don't completely rely on software for their security. They store your wallet's private keys in secure hardware devices, making it almost impossible to move any coins out of the device without proper authorisation. These wallets are also immune to computer viruses. Ledger Nano S and Trezor T are some of the most popular ones. KeepKey is another popular hardware wallet.
Wallet combination: These are special wallets that combine any of the two described above. An example is Ledger Live. Ledger is a hardware wallet, but it has a desktop wallet in the form of Ledger Live. The wallet allows you to connect your hardware wallet to your computer, making it easy to operate without sacrificing security.
What Other Coins Can I Trade or Use to Buy FUNToken?
In addition to fiat currencies, there are numerous cryptocurrencies you can use to trade and purchase FUNToken. The most common is Bitcoin, the leading cryptocurrency in the world, and ETH, the native coin of the Ethereum blockchain. You can also use the USDT stablecoin to trade and buy FUNToken on numerous crypto exchanges.
What's the Smallest and Largest Amount of FUNToken I Can Buy?
Some traders and investors want to know how many FUN tokens they can buy and the smallest possible purchase. When it comes to the minimum purchase for FUNToken, it depends on the trading platform you are using. FUNToken is currently trading at $0.02314, which means you can purchase it for less than a dollar. However, due to liquidity purposes, some exchanges don't allow you to purchase FUN tokens below a certain amount, usually between $5 and $10.
Can I Buy FUNToken Anonymously with no ID? Is it Safe and Legal to Buy FUNToken?
While cryptocurrencies were originally designed to offer anonymity, the market has grown enormously, and it is more regulated than before. Hence, the platforms now require users to verify their IDs before purchasing FUNToken and other cryptocurrencies. With exchanges and brokers, you might not get the anonymity you desire, but you will enjoy security and other amazing features. You could purchase FUNToken anonymously on unregulated exchanges but it is not a recommended method as it is risky.
Will Buying FUNToken Make Me Money?
The answer depends on how and when you invest in the cryptocurrency. Many investors have made money investing in FUNToken, but it is dependent on understanding the fundamentals of the cryptocurrency and how you invest. You have to determine the best price to buy FUN tokens to make profits in the end. It would help if you kept in mind that cryptocurrencies are growing more relevant, and the crypto space is expected to grow in the coming years.
How to Spend your FUNToken
FUNToken is designed to be a gaming and gambling token. You can spend it on online gaming and gambling platforms that accept it as a means of payment.
How to Sell FUNToken
You can sell your FUN tokens using a broker or a crypto exchange. With a broker, the process is easier, and you will receive the equivalent fiat currency in your account in no time. You can also sell FUNToken on a crypto exchange easily. You can sell it for fiat currencies or swap it for other cryptocurrencies such as BTC, ETH or USDT. Selling FUN tokens on brokerage platforms held as CFDs is more straightforward as these contracts are widely traded within the financial world.
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Frequently Asked Questions
FUNToken is used as an online gaming and gambling coin. It allows gamers and gamblers to deposit and withdraw their earnings with ease while also earning loyalty rewards from several gaming platforms. The token is used for buying collectibles and paying for other features on games developed by Funfair Labs and other gaming platforms.
FUNToken is one of the leading projects on the Ethereum blockchain. As such, it is supported by a wide range of leading crypto exchanges. You can trade various FUN trading pairs on exchanges such as Binance, OKEx, Bitfinex, HitBTC, and Uniswap. It is also available on some leading crypto brokerage platforms. Hence, buying and selling FUNToken should be easy.
Funfair Labs is the parent company of the FUN token. The company is known for building innovative multiplayer and crypto games. Funfair Labs focuses on developing games that create unique and exciting experiences for Gen Y and Z players. They also allow casino operators the ability to engage with players that are not attracted to traditional single-player games.
FUNToken is a decentralised cryptocurrency developed on the Ethereum blockchain. As a decentralised token, no one controls it. There is no governing body, which means ownership of FUNToken is completely anonymous. An active Funfair community handles the development of the coin, but no single person or entity handles the entire project.
The legality of FUNToken depends on your jurisdiction. Check if cryptocurrencies are legal in your country, as this would help you determine if you can access FUN tokens or not. However, FUNToken is legal in most countries around the world as cryptos are being regulated rather than banned.
The cryptocurrency market has gained massive adoption in recent years. However, some of the people entering the market are speculators, only interested in making short-term profits. Hence, as the demand and supply fluctuate, so does the price of FUNToken and other cryptocurrencies.
The Funfair development team is always working to improve the cryptocurrency's usability. With more developments, some investor believe that FUNToken could potentially become one of the world's leading online gaming and gambling tokens. Several online gaming and casino platforms could also adopt the coin as a means of payment for their features and services.
Most countries now require their citizens to pay taxes on cryptocurrency gains. Hence, check the legislation in your country or jurisdiction to know if you should pay taxes on your FUNToken earnings.