Last update: Jun 6, 2022

How to Buy Frax Share (FXS)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Frax Share. Depending on your country, you’ll have various crypto exchanges to choose from.

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

Let’s get started!

Frax share

How to Buy Frax Share – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency trading platform 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 Frax Share of course.

2. Sign up with the crypto 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 exchanges.

4. Buy Frax Share

Now that you have what you need to buy Frax Share, head over to the market or buy section of the cryptocurrency exchange and buy some FXS.

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

Where to Buy Frax Share (FXS)

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

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
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 Frax Share

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

 

Crypto trading

How to Buy Frax Share (FXS) 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 Frax Share 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 Frax Share if it’s available. If the exchange doesn’t have Frax Share. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Frax Share), and trade your ETH for Frax Share.

You can also check out our comparison of the best Australian crypto exchanges if you’re interested in learning more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Frax Share (FXS) 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 Frax Share in Canada, the process remains the same:

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

Or, if you’d like to know more about the exchanges we prefer, read our comparison of the best cryptocurrency exchanges in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Frax Share (FXS) 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 Frax Share in the UK, the process remains the same:

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

It’s also possible to check out our comparison of the crypto exchanges in the UK if you’re looking to learn more about the exchanges we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Frax Share? FXS Rundown

The Frax Protocol is the first fractional-algorithmic stablecoin system. Frax is an open-source, permissionless and completely on-chain cryptocurrency. It's currently implemented on Ethereum, with possible cross-chain implementations in the near future. Frax is a protocol that provides a highly scalable, distributed, and algorithmic money to replace fixed-supply digital assets such as Bitcoin. These concepts are part of the protocol:

Fractional-Algorithmic - Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic. The market price of FRAX is a key factor in determining the ratio of algorithmic and collateralized. The protocol reduces the collateral ratio if FRAX trades above $1. The protocol will increase the collateral ratio if FRAX trades at less than $1.

Governance-minimized and Decentralized - Community-governed, emphasizing an algorithmic approach that is highly autonomous with little active management.

Frax v1 fully on-chain oracles – Frax v1 utilizes Uniswap (ETHT, USDC, USDC time-weighted Average Prices) and Chainlink ($ price) oracles.

Two Tokens – FRAX is the stablecoin that targets a narrow band of $1/coin. Frax shares (FXS), the governance token, accrues fees and seigniorage revenues, as well as excess collateral value.

Stablecoins were previously divided into three categories: fiat collateralized or overcollateralized by cryptocurrency and algorithmic without collateral. Frax is the first kind of decentralized stablecoin to classify itself as fractional-algorithmic ushering in the 4th and most unique category.

The Frax Protocol is a unique stablecoin that is community driven. Over 60% of FXS supply is distributed over a period of time to liquidity providers and yield farms. It is a completely decentralized protocol that has governance onchain. It is also the first and only stablecoin to incorporate the fractional-algorithmic hybrid design at the time of its launch in November 2020.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.