Last update: Jun 6, 2022

How to Buy FIO Protocol (FIO)

So you’re looking for a guide on how to buy FIO Protocol. Depending on where you’re based, you’ll have a few crypto exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

How to Buy FIO Protocol – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have FIO Protocol of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy FIO Protocol

Now that you have what you need to buy FIO Protocol, head over to the market or buy section of the cryptocurrency trading platform and buy some FIO.

If the crypto exchange doesn’t have any FIO Protocol on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has FIO Protocol first), and trade your Ethereum for FIO Protocol.

Where to Buy FIO Protocol (FIO)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell FIO Protocol

1. Sign into the crypto trading platform where you bought FIO Protocol.
2. Move your FIO Protocol to the right place on the exchange. Some exchanges have trading accounts you need to use for buying and selling.
3. Sell FIO Protocol.

 

How to Buy FIO Protocol (FIO) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy FIO Protocol in Australia, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with AUD.
4. Buy FIO Protocol if it’s available. If the exchange doesn’t have FIO Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has FIO Protocol), and trade your ETH for FIO Protocol.

If you’d like to know more about which exchanges we recommend, look at our list of the Australian crypto exchange reviews.

How to Buy FIO Protocol (FIO) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy FIO Protocol in Canada, the process remains the same:

1. Find a crypto exchange below.
2. Sign up for an account.
3. Fund your account with CAD.
4. Buy FIO Protocol if it’s available. If the exchange doesn’t have FIO Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has FIO Protocol), and trade your ETH for FIO Protocol.

Alternatively, if you want to learn more about the exchanges we prefer, read our comparison of the better exchanges for trading crypto in Canada.

How to Buy FIO Protocol (FIO) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy FIO Protocol in the UK, the process remains the same:

1. Find a cryptocurrency trading platform below.
2. Sign up for an account.
3. Fund your account with GBP.
4. Buy FIO Protocol if it’s available. If the exchange doesn’t have FIO Protocol. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has FIO Protocol), and trade your ETH for FIO Protocol.

You can also check out our comparison of the best crypto exchanges in the UK If you’re looking to learn more about which exchanges we like.

Considering buying FIO Protocol? FIO Rundown

FIO Protocol (FIO), a blockchain protocol, aims to make it easier to send and receive tokens and coins. FIO token, the native utility token for the project's blockchain infrastructure FIO Chain, is used to pay transaction gas fees and ensure on-chain governance. To achieve network consensus, the FIO Chain uses a Delegated Proof of-Stake (DPoS). FIO token holders elect block producers via on-chain vote. If they get enough votes, anyone can register to become a BP.

• FIO addresses are a human-readable wallet ID (username@domain), for FIO Protocol users. FIO addresses can be registered through an FIO-integrated app or via a registration site. FIO addresses are bonded with 100 transactions for free and have a yearly cost in FIO tokens.
• FIO Request allows users initiate transactions using FIO addresses. This request is saved onchain with metadata (e.g. This request is stored onchain with metadata (e.g., currency, amount) using the Diffie Hellman key exchange.
• FIO Data can be described as transaction metadata. This metadata can be anything from a simple memo to structured data (e.g. deposit details). FIO Data is a tool to support decentralized commerce. Transactional data (e.g. FIO Data can store invoices and dates on-chain. FIO Data can include blockchain metadata such as transaction.

Related:

• How to Buy Filecoin (FIL)
• How to Buy Firo (FIRO)