How and Where to Buy Xfinance (XFI) – Detailed Guide
- What is XFI?
- Step 1: Register on Fiat-to-Crypto Exchange
- Step 2: Buy ETH with fiat money
- Step 3: Transfer ETH to an Altcoin Exchange
- Step 4: Deposit ETH to exchange
- Step 5: Trade XFI
- Last Step: Store XFI securely in hardware wallets
- Other useful tools for trading XFI
- Frequently Asked Questions
- Latest News for XFI
- XFI Price Prediction and Price Movement
What is XFI?
What Is Xfinance Coin (XFI)?
Xfinance (XFI) is full-stack decentralized finance (DeFi) protocol that revolutionizes the sector’s existing functionalities tied to liquidity pools, market-making and trading.
The XFI protocol uses the Ethereum blockchain to power a full-stack product. Therefore, the platform isn’t limited to a single product. For example, it’s ideal for token swaps, leverage trading, and trading of non-fungible tokens (NFTs).
The DeFi protocol has a mobile app that lowers barriers to access DeFi products, requiring only a smartphone and a stable internet connection. A new version of Xfinance was released at the end of August 2020.
Who Are the Founders of Xfinance?
Apart from a line on its Medium page description stating that it is “built by NowEx.io,” there is no detailed information on the project’s team members. However, it has struck partnerships with notable platforms such as LID (Liquidity Dividends Protocol), which offers high-end solutions in providing liquidity on DeFi networks, and DEX Tools, which focuses on improving users’ experience of crypto trading platforms.
Additionally, the protocol has links with NowEx, a derivatives exchange.
What Makes Xfinance Unique?
Xfinance claims to bring a new dimension to the Ethereum DeFi industry as a full-stack network that is not limited to only one product, which opens it up to many more use cases in the ecosystem.
For instance, the network supports NFT trading through its xNFT feature. In addition, its xPerp offering allows the trading of perpetual contracts. XSwap is another Xfinance product handling automatic market-making (AMM).
The protocol’s use of transaction fees from its various products is among the few firsts in the DeFi space. Transaction fees from the xNFT and xPerp features go to buying back and burning the platform’s native currency, XFI.
Xfinance supports many coins and rewards both parties interacting with liquidity pools, i.e., borrowers and lenders.
The Xfinance mobile application makes it easy for anyone to interact with the DeFi ecosystem. The protocol’s revenues come from fees charged on different products such as XSwap and activities such as staking and unstaking. The protocol also aims to unlock the full value of the Xfinance ecosystem by buying back and burning XFI tokens claimed as trading fees.
Finally, the XFI token supply is also fixed, thereby offering a non-inflationary and limited supply of XFI tokens.
What Products and Services Do Xfinance Offer?
- xDao: A decentralized community governance platform.
- xNFT: Consists of NFT (non-fungible token) trading protocol and asset trading platform where transaction fees are used to buy back and burn XFI.
- xPerp: A decentralized AMM (automated market making) perpetual contract exchange, where transaction fees are used to buy back and burn XFI.
- xSwap: A decentralized AMM protocol and exchange, with an XSP platform token. xSwap promises a completely fair yield farming where no funds are allocated to developer funds or team shares.
- xVault: A decentralized common asset income and yield aggregator vault that automatically moves positions between agreements to help liquidity providers gain the most financial income. XVault withdrawal fees will be used to buy back and burn XFI.
- Staking: The protocol offers Incentivized staking that targets long-term holders, with daily staking APR ranging between 0.2% - 0.3%.
Related Pages:
Learn more about Uniswap (UNI).
Learn more about FTX Token (FTT).
Learn more about dYdX.
Check out the CMC blog.
How Many Xfinance Coins (XFI) Are There in Circulation?
The protocol was launched in September 2020 in collaboration with LID to conduct an XFI initial launch presale. The sale involved exchanging the native token for Ethereum (ETH) at a rate of 1 ETH for 3.8 XFI coins when trading on Uniswap.
A 60% allocation of the proceeds went to providing liquidity on Uniswap, while 15% went to buying back and burning the network’s base asset. Notably, the buyback option was meant to reduce the supply and boost the value by increasing the coin’s demand.
The max supply of the native currency is capped at 50,000. The presale event subtracted 30% (15,000) of the supply. The team accounts for 29% XFI tokens while 21% goes to the ecosystem fund, and 5% was set aside for listing, developments, marketing, and airdrop.
The team’s token allocation has a 10-months unlock period where ten percent is unlocked every 30 days.
Xfinance uses the base currency to power a host of services and rewards on the platform. To elaborate, it can be used to pay for transaction charges, receive rewards for liquidity providers, and staking.
Daily staking rewards vary between 0.2% and 0.3%. XFI staking took off in September 2020, and 1,050 XFI coins from the ecosystem fund were marked to provide rewards to stakers. Furthermore, the platform charges a flat rate of 2.5% for every stake or unstake event.
How Is the Xfinance Network Secured?
The protocol runs on the Ethereum blockchain, the second-largest blockchain platform, which currently uses the dual consensus mechanism (proof of work and proof of stake). Furthermore, its native token, XFI, is built using Ethereum’s ERC-20 standards. As such, being an Ethereum-based token means that XFinance sits on tried-and-tested technology.
The token can be stored on all major cryptocurrency wallets supporting ERC-20-based currencies. This includes TrustWallet and hardware wallets.
Where Can You Buy Xfinance Coin (XFI)?
XFI is listed on various platforms, including ProBit Exchange, DigiFinex, Bibox, Uniswap, Hotbit and Bilaxy. Its major pairs include ETH, Tether (USDT), Wrapped Ethereum (WETH) and Bitcoin (BTC). For more information on getting started with buying cryptocurrencies, click here.
XFI was first tradable on 14th Sep, 2020. It has a total supply of 46,993.15,310,373. As of right now XFI has a market capitalization of USD $4,145,024.96. The current price of XFI is $82.90 and is ranked 1371 on Coinmarketcap and has recently surged 50.06 percent at the time of writing.
XFI 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 Ethereum 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 XFI.
Step 1: Register on Fiat-to-Crypto Exchange
You will have to first buy one of the major cryptocurrencies, in this case, Ethereum (ETH). 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.
Select Fiat-to-Crypto Exchange for details:
- UpHold
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.
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.
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.
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 ETH with fiat money
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.
Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Ethereum, 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 ETH to an Altcoin Exchange
But we are not done yet, since XFI is an altcoin we need to transfer our ETH to an exchange that XFI can be traded. Below is a list of exchanges that offers to trade XFI in various market pairs, head to their websites and register for an account.
Once finished you will then need to deposit ETH to the exchange from UpHold. After the deposit is confirmed you may then purchase XFI from the exchange view.
Last Step: Store XFI securely in hardware wallets
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
- 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 XFI 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 XFI with cash?
There is no direct way to buy XFI with cash. However, you can use marketplaces such as LocalBitcoins to first purchase ETH, and finish the rest of the steps by transferring your ETH 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 XFI 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 XFI 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 Xfinance's fundamentals and current price here.