How To Buy FUNToken | Ultimate Guide To Buy FUN
Many investors in this period started considering FUNToken as an investment with great potential. FUN is the token associated with FUNToken, a gaming platform offering the latest and most innovative online casino games. This digital cryptocurrency is used in online betting and to compensate both game developers and affiliates who bring in new players. The FUNToken network can be licensed to virtually every gambling platform online, making such sites cheaper, faster and very efficient.
Is it worth buying FUN? According to many experts, investing in this token could turn out to be an excellent investment, with FUN’s market capitalisation currently at $240 million (May 2021). In this guide, you will learn how and where to buy FUN.
5 Steps to Buy FUNToken with eToro Now
Buying any cryptocurrency with eToro is easy, simply follow the steps below:
1Sign up for free with eToro, entering your details in the required fields.
2Fill out the questionnaire, this is both educational for you and eToro.
3Click 'Deposit', you'll then be asked how you want to fund your account.
4Choose your required payment method, follow the simple steps to link your payment.
5Enter the amount you want to deposit and you're good to go!
Our Recommended Platform to Buy FUNToken
Buying FUNToken via cryptocurrency exchange platforms requires some research, just like for any other digital currency. For this reason, we selected some options based on their safety, user-friendliness, and trustworthiness. These exchanges allow you to buy FUNToken and trade it for fiat currencies like GBP, EUR, USD, or other digital currencies like Bitcoin, Ethereum, and more. Let us dive into them.
Where to Buy FUNToken in 2021
As days go by, FUN is getting licensed to a lot more gambling platforms, and many traders expect its inherent value to be on the increase.
Buying FUNToken involves a process where the trader gets to actually own the asset. This means that you will have to have a wallet at some point, where you will be able to store it. Long-term investors generally buy FUN and wait for its price to appreciate in the long run.
Trading FUN does not necessarily involve buying it. With CFDs (Contracts For Difference), for example, you can stipulate a contract on the difference between the initial price of the asset and the final one without actually owning it. In this way, you will receive a profit if the price increases or lose money if the price falls. Traders hunt for short term profits, but are more exposed to the market’s volatility.
How to Buy FUNToken with a Broker
To buy FUNToken with a cryptocurrency broker requires that you register with them to create an account. Most of these brokers have a convenient user interface for newbies. Still, they offer plentiful and advanced charts for several types of traders based on their skill level, including technical traders.
When it comes to broker fees and services, every platform has different offers. It is a best practice to dedicate some time to research the best option for the performances you will require from your broker and the fees that fit best your investing strategy.
1. Register with the Broker
Traders from many countries will be able to complete the process as the register page of most of the platforms is available in various languages. At this stage, you are required to enter your personal information such as email address, mobile number (if you go for the mobile option) and password, then click on the “I have read and agreed to the Terms of Service” option.
With that, your account will be opened. But let’s see some examples of brokers and how to register with them.
To register at eToro, go on the website page and search for the button marked “Trade now” or “Join now”. An electronic form will be presented to you, to enter every personal detail needed to create a new trading account. Kindly enter every necessary detail required in the form. Signing in through Google or Facebook are other options.
Another example of a broker platform is Plus500. To register with this broker, access its official website and tap on the “Start Trading” button. Enter your email address and create a password. At this point, proceed completing all the sections that require your personal information, such as name, surname, and date of birth.
2. Verify your Identity (KYC Process)
Just like every kind of online merchant, from e-commerce to banking, crypto brokers have to meet all the regulations that have to do with customer identity verification. The KYC (Know Your Customer) process is required for these brokers to serve their customers online with safety and assurance.
This requires users to submit a form of photo ID, such as a passport or a driver’s license, as well as a picture of themselves and a proof of address. Although this may seem intrusive, the KYC process ensures that cryptocurrency as an industry does not become the reserve of money launderers and criminals, and this gives validity and the appearance of professionalism to the industry.
3. Deposit Funds with your Preferred Payment Method
Various payment options are provided to users when trading online, as each exchange supports different deposit & withdrawal methods. These payment options have different benefits and challenges related to processing times and fees.
The most common methods to deposit funds on your account are through a credit/debit card, your bank account, or PayPal.
You will be asked to enter your payment method’s information and, most likely, verify the small amount of money they charged to it to check if the payment method is active and if you are the owner.
When going through this process, make sure you are not using a public internet connection or that at least you have the right antivirus protection. This is just a best practice that internet users should always follow when sharing their payment method on the internet.
After verifying your payment method, you will be able to upload money to your account and start trading.
4. Open a Position to Long/Short FUNToken
Long positions are opened as the trader believes that the price will rise from a certain point. In such a scenario, we assert that the investor “goes long” or buys the digital currency.
Short positions are opened when the trader thinks the value of the digital currency will fall. Following the decline in value, the investor will purchase the crypto at a lesser price and receive earnings on the difference amidst the buying & selling price.
Understanding the difference between these two types of positions is key to being a successful investor. Opening a long position is by far the simplest option, as it simply requires the user to invest in FUN and close the position further down the line when they are happy with the resulting profits. Shorting, on the other hand, is rather more technical and involved, but allows the investor to make profits even in unfavourable market conditions.
5. Close your Position
Closing a position refers to traders exiting their trade, either for a profit or a loss. This can be done via the trading interface. You can close your position manually, when a sufficient profit or loss threshold has been reached, or alternatively you can make use of certain automated functions.
Stop-loss and take profit orders allow you to specify profit targets and loss tolerances ahead of time. If the market price of FUN reaches either of these limits, your position will automatically be closed. This allows you to enforce your trading limits even when you are away from your computer, which is useful because FUNToken, like all cryptocurrencies, trades 24/7.
How to Buy FUNToken with an Exchange
A crypto exchange usually allows you to buy FUNToken using fiat currencies. FUNToken can also be exchanged with other digital assets. Buying the token on an exchange gives you direct ownership of the coins, making this strategy better suited to investors with a longer time horizon.
It is essential that you research for the exchange that best fits your needs when you want to trade FUNToken. Make sure the fees they charge are in line with the strategy you plan to use and provide the highest level of security.
1. Set up a FUNToken Wallet
It’s quite simple to open a cryptocurrency wallet that is ERC-20 based as FUNToken is an ERC-20 based coin. Two options are available in this case: software wallets and hardware wallets.
To set up a FUNToken wallet with software, you can choose to download a mobile app, a desktop app or use a website that provides it. Create your crypto wallet, save your private key and then create your password (including the transaction password). From now on, you can send and obtain any token or coin as well as FUNToken.
FUNToken can also be stored on hardware wallets. These are the so-called “cold wallets”, as they keep your asset away from the internet and safe from attacks. They are the best option when it comes to long term positions.
Hardware wallets employ top-tier encryption techniques to protect traders' assets. They also secure against high-profile network attacks or ordinary phishing scams that investors who store their holdings in a website wallet or software may encounter.
2. Choose and Join an Exchange that sells FUNToken
As we mentioned before, a broker platform is one of the safest ways to buy FUNToken. The broker also provides charts, an order book, trades, order history, trade history and a funds section. Different types of technical indicators are provided on the chart and the market depth is displayed.
An example of a popular cryptocurrency exchange platform is Cex.io. It is a crypto trading platform that integrates many essential features: a variety of options, improved security & high market liquidity. It is a reliable and safe crypto platform that offers an open financial system and allows you to buy cryptocurrencies with a debit or credit card.
Quickly buy cryptos on Cex.io and become a crypto holder in minutes. Your funds can be conveniently withdrawn to your card or bank account with just some clicks.
To begin trading crypto, traders can deposit through several payment options such as bank transfer (ACH, SEPA, SWIFT), Visa, MasterCard and cryptocurrency. The exchange also protects from DDoS attacks.
3. Choose Your Payment Methods to Buy FUNToken
When it comes to buying FUNToken, you will have different methods available to pay for this cryptocurrency. Let us dive into some of them.
Trading with Bitcoin offers traders confidentiality and safety. Your personal information is not shared when making any payments, and transactions are carried out quickly.
Credit/debit cards or bank transfers are some of the most popular payment methods, as everybody nowadays has access to a bank account or credit card. As mentioned before, you will most likely need to insert all the information of the payment method and then confirm the account before being able to use it.
Payments in cash are not always available, as to buy FUNToken with cash, and you will either need an ATM that allows cryptocurrency trade or to meet in person with another trader. In the second case, make sure to only meet with reliable people and check their information before meeting them in a public space.
4. Place an Order to Buy FUN
To buy FUNToken, you need to place an order on an exchange. This can be done by entering the quantity of FUN you wish to purchase, and pressing ‘Buy’ if you are happy with the market price. If you are not, you can specify the price at which you would like to buy using the ‘limit order’ function. After placing the order, check below the “Orders” and “Order History” to confirm if the order was placed.
Once your order has completed, you will have access to your FUNTokens in your exchange account. You can find them in your web wallet.
5. Safely storing your FUNToken in a wallet
After you have completed your purchase, you can maximally secure your FUNToken coins by withdrawing them into a wallet. You can use either a software wallet or a hardware wallet, as a “cold storage” option.
Navigate to your web wallet on the exchange, and initiate a withdrawal. Enter your private wallet’s address - being sure to double-check it is correct - and then click “withdraw”. Your transaction may take a few minutes to confirm, so don’t worry if the funds don’t appear instantly.
Should you Buy or Trade FUNToken?
You can decide what to do with your cryptocurrency based on your trading objectives. We only recommend that you never invest more money in FUN than you can afford to lose. Trading entails taking advantage of a coin’s price changes in the market, whereas investing in crypto resembles buying stock for long-term investments.
Many brokers only list major cryptocurrencies with a big market cap, such as Bitcoin, Ethereum, Dogecoin, Litecoin, Cardano, Ripple, and others. As a result, purchasing FUNToken via a broker may be problematic; nonetheless, our suggested exchanges provide FUNToken for your purchasing and trading needs. To get started, follow our instructions on how to register.
What’s the Difference Between a FUNToken Exchange and a Broker?
A FUNToken exchange is a platform that operates as a reliable third party for users to trade their coins with another buyer. It can be custodial, non-custodial, decentralised, or centralised, but the principle used in all of them is the same: the customer purchases coins and takes ownership of them.
A crypto broker serves as an intermediary between a market and the investors or traders. Unlike an exchange, traders do not own the cryptocurrency they are trading, and nothing is exchanged. Brokers operate via derivatives such as CFDs (contracts for difference)
FUNToken: Long Vs Short Term Investment
Investing in FUNToken for the long-term is appropriate for those who want to spread and expand their portfolio, as they will reap the possible rewards of blockchain technology and its beneficial impact on crypto prices. This is because buyers can hold the tokens themselves and wait almost indefinitely for a price appreciation.
A short investment is an approach that is ideal for traders who have immediate goals so far. It has an obvious risk-reward ratio and swift potential returns. This investment best suits traders who are open to extensive research and learning on the market and its functioning.
3 Tips to Buy FUNToken
We will now provide some small advice for you to have the best result after buying FUNToken. In general, keep in mind that trading cryptocurrencies like FUN will only bring you rewards if you dedicate enough time to learn about the market and take prudent decisions that do not put your savings at excessive risks.
1. Choose the Right Time and Do Your Own Research on FUNToken
Choosing the right time to buy FUNToken will depend on market movement. Based on the strategy you want to adopt, you may choose to purchase FUNToken during a bullish or bearish trend. You may also choose to buy FUNToken and hold on to it, as you believe it provides real value, and you believe in its potential increase.
Compare Costs to Buy FUNToken
Take the right amount of time to compare various platforms, apps, and specialised brokers before buying FUN. This may take some time at the beginning of your journey, but you will understand the worth of this decision when enjoying the lowest fees on the market.
3. Safety and Security when Buying FUNToken
When buying FUNToken, selecting a reliable broker is essential to your peace of mind. The best broker is one that will safeguard your personal details and funds using the newest security standards, an experienced security team, and an appropriate recovery fund in the event that investor funds get stolen.
What is the Best Payment Method for Buying FUNToken
- Buy FUNToken with Cash - Anonymous, but can be hard to arrange.
- Buy FUNToken with Credit Card - Reliable and secure, but can sometimes cost more.
- Buy FUNToken with Bank Transfer - Usually free, and the most widely available method.
- Buy FUN with Bitcoin - Convenient for traders with existing BTC portfolios.
- Buy FUNToken with Paypal - Convenient and quick, but not available everywhere.
Other Ways to Buy FUNToken
As for every other cryptocurrency, there are also other ways with which you can have access to FUNToken. Unfortunately, it is not possible to mine this digital asset, as it is based on ERC-20 technology.
The only other way of obtaining the token is through a peer-to-peer (P2P) exchange. These sites connect individual users, in a truly decentralised manner, allowing them to transact freely. This often obviates the fees levied by centralised exchanges that operate via order books.
We went through all the details you need to know if you are interested in buying FUNToken. This may be the right occasion to invest early in a cryptocurrency that may become the new Bitcoin - take the proper considerations regarding it and follow this guide in case you decide to buy FUN.
Frequently Asked Questions
You can purchase FUN using a debit or credit card on exchanges. You have to create a FUNToken wallet and complete the verification process before you can buy FUNToken.
You can’t buy FUN right through Ledger Live at the moment, but you’ll be able to monitor and move it around safely via the application.
The coin itself is secure, but it is only as secure as the account holding it. Like every other investment, protecting your coin is a must. Hardware wallets will help you with this as they will secure your FUNToken stash.
Yes, you can hold and manage your coin using Ledger Hardware Wallets.
You can purchase FUN tokens from some famous exchanges like Poloniex, Binance, CEX, and more.