What is BitForex Token? BitForex Token (BF) is the native cryptocurrency of Singapore-based cryptocurrency and NFT exchange BitForex. In this article, as Kriptokoin.com, we tried to answer the curious questions such as what is BitForex, what is BitForex Token, what is it, how to get BF. Let’s take a look at this cryptocurrency, which offers various use cases in the stock market.
What is BitForex?
BitForex Token (BF) is the native cryptocurrency of BitForex, a cryptocurrency exchange registered in the Republic of Singapore Seychelles. This exchange currently supports over 500 cryptocurrencies. It also allows users to borrow and lend in crypto within the platform. Besides cryptocurrencies, BitForex also offers a marketplace for NFT assets. Through this marketplace, users can buy and sell NFTs. NFTs can be purchased with various cryptocurrencies.
BitForex allows borrowers to borrow up to 85% of their collateral. Thus, it supports the DeFi ecosystem. In addition, the Turbo Start feature allows users to invest in new Blockchain and altcoin projects. In this way, users participate in the ICO and airdrop stages of new projects. However, they can buy NFT with USD or USDT payment through the platform’s NFT marketplace. Additionally, they can earn BF tokens through the “BitForex Token Earn” tool.
What is BitForex Token? What does BF do?
BitForex Token, which has many use cases on the BitForex exchange, is basically an Ethereum-based digital asset. Created with the ERC-20 smart contract, this token has a maximum supply capped at 10 billion units. With the token, users can get various advantages offered by the platform. One of these advantages is transaction fees. BF holders receive the transaction fees paid by other users on the platform in 3-month periods. The reward the user receives increases according to the amount of BF they hold.
However, users can stake BF, which works with the Proof-of-Stake mechanism. It is possible to earn passive income with this feature, which is included in the “BitForex Token Earn” program in the stock market. Accordingly, investors lock their tokens on the platform with a certain maturity. By doing this, they ensure the security and continuity of the network. In return, they get additional BF rewards at maturity. Currently trading at $0.0023, BitForex Token has a market cap of around $10.2 million.
How to get BF token?
Users who want to obtain the native token of the BitForex exchange can buy the token from several cryptocurrency exchanges. Chief among these are BitForex itself and the YoBit exchange. Investors can purchase the token by signing up for one of these exchanges and depositing an asset suitable for BF parities in their wallets.
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