Last update: Jun 6, 2022

How to Buy UniLend (UFT)

So you’re looking for a guide on how to buy UniLend. Depending on where you live, you’ll have different cryptocurrency exchanges to choose from.

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

Let’s get started!

How to Buy UniLend – 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 UniLend 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 exchanges.

4. Buy UniLend

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

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

Where to Buy UniLend (UFT)

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 UniLend

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

 

How to Buy UniLend (UFT) 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 UniLend in Australia, the process remains the same:

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

If you’d like to learn more about the exchanges we like, check our list of the best sites to buy bitcoin in Australia.

How to Buy UniLend (UFT) 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 UniLend in Canada, the process remains the same:

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

Also, check out our comparison of the places where to buy cryptocurrency in Canada for those interested in learning more about the exchanges we like.

How to Buy UniLend (UFT) 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 UniLend in the UK, the process remains the same:

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

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

Considering buying UniLend? UFT Rundown

UniLend, a DeFi protocol without permissions, combines spot trading and lending/borrowing functions within one platform. UniLend allows anyone to list any ERC20 asset for both decentralized trading or lending/borrowing, unlike other DeFi protocols that support only 30 assets.

UniLend's mission, which is to make the DeFi space accessible to $29B worth of ERC20 tokens, is to unlock the true potential decentralised finance.

The majority of digital assets are not included in the DeFi ecosystem because of existing DeFi solutions. Over 6000 tokens are listed on coinmarketcap. Other DeFi protocols, however, support fewer than 30 assets. While some protocols allow lending and borrowing, they have a restricted set of tokens. Others offer trading freedom for any ERC20 asset but ignore the lending or borrowing aspects.

UniLend bridges that gap by combining decentralization aspects of allowing any ERC20 as collateral for lending and borrowing, while also allowing users the freedom to trade their assets on-platform. UniLend's ultimate goal is to unlock the full potential for digital assets and their owners.

The UFT token is used primarily to facilitate governance of UniLend protocol. UFT holders will decide a number of factors that affect the functioning of the UniLend protocol. These factors can be determined by UFT holders through proposals that require majority consensus.

By facilitating liquidity within the protocol, liquidity providers are key to ensuring sustainability of a decentralized financial protocol. In return, they will be awarded UFT tokens through liquidity mining and a portion of borrowing fees.

UniLend platform users who use UniLend to lend, borrow, or trade will be rewarded by governance power in form of UFT tokens. This is to encourage the use of the platform's services and to promote distributed governance.

Related:

• How to Buy Unifi Protocol DAO (UNFI)
• How to Buy Uniswap (UNI)