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How to Buy Fetch.ai in 2024
Fetch.ai is an open-source, decentralized AI marketplace that uses machine learning to deliver various services to companies and individuals. The coin is built on the Cosmos blockchain, making the token highly scalable. Moreover, Fetch.ai aims to give smaller businesses access to AI services for affordable prices, which makes this potentially a huge project if it gets widespread adoption.
This page covers everything you need to know about investing in Fetch.ai, from the available payment methods to the top crypto wallets. Also, we’ll go over the best exchanges and brokers, along with their pros and cons.
Best Brokers to Buy Fetch.ai in 2024
Fetch.ai is a leading crypto in the artificial intelligence sector. Therefore, multiple platforms offer FET as an investment opportunity. We’ve put together this table below of the best brokers and exchanges to buy Fetch.ai.
Key Takeaways
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The Fetch.ai platform allows developers to create autonomous software to speed up tasks.
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FET is built on the Cosmos blockchain, making transactions fast and quick.
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The FET token is available to purchase on the biggest crypto exchanges.
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Investors can set up a unique node to support the Fetch.ai network while making passive income.
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FET is available to stake with excellent yearly APY.
What Is the Difference Between Owning Fetch.ai VS a Derivative Product
Owning cryptocurrency is significantly different than buying a derivative product. Purchasing FET from a crypto exchange means you’ll own real cryptocurrency and can participate in staking, liquidity pools, and using the services Fetch.ai offers.
However, brokers offer CFDs, ETFs, and futures, which means you won’t own the cryptocurrency. Instead, you’ll be speculating the coin price and leaving the funds in the broker account. Therefore, investors opt for buying real tokens because the broker that issued the derivative product has control over your money.
Different Ways to Buy Fetch.ai
Due to Fetch.ai being a popular project, it’s available to purchase on multiple platforms. Here are the top options for purchasing FET.
Decentralized Exchanges: This type of platform lets you buy cryptocurrencies without providing identification. However, you’ll need to be tech-savvy since decentralized exchanges require a crypto wallet to be connected.
Centralized Exchanges: The easiest method to buy crypto is using a centralized exchange like Binance. These platforms have the lowest fees and let you buy coins using multiple trading interfaces. However, users must comply with the KYC process to lift withdrawal restrictions.
Banks: Your bank may have an investment section that includes cryptocurrencies. The benefit of this method is that you won’t need to transfer your fiat currency to a broker or exchange. However, the downside of banks is that you’ll be buying a derivative product and the fees are much higher.
Brokers: Using a broker is great for beginners since they don’t require using a complicated trading interface. Furthermore, you can buy FET at market price and hold long-term without placing short or long positions. The negative of brokers is that there are no withdrawal options since you’ll be buying a derivative product.
Where to Buy Fetch.ai
Binance
Binance is the biggest cryptocurrency platform that offers low fees and a variety of trading pairs. In addition, the platform has multiple trading interfaces depending on your investing experience. Perhaps the easiest method to buy FET is through their convert page since it eliminates the need to use an advanced trading platform. Also, with Binance, you can stake your FET to earn passive income.
- Excellent fee structure
- Variety of trading interfaces
- Amazing security
- Not available to US residence
- Identity verification required
- High fees for buying crypto directly with your bank card
eToro
While Binance offers a fantastic service, beginners may find a broker like eToro an easier solution to invest in FET. This is because the platform features a user-friendly interface that makes the buying process straightforward. Therefore, beginners can invest in FET with minimal experience and still participate in crypto.
- User-friendly interface
- Investors can look at the top-performing portfolios
- Straightforward process for buying FET
- $200 minimum deposit
How to Buy Fetch.ai Online?
Buying Fetch.ai is a quick process when using an established platform. Below is a guide on how to invest in FET with Binance.
Step 1: Register for an Account
Visit the official Binance homepage and click the Register button to begin.
Step 2: Follow the Signing Up Process
After, select your country of residence and input your email with a strong password. Then accept the terms of service, which require you to be 18 years old or older.
Step 3: Check the Verification Email Sent to You
Binance will send a verification email that you need to open. Afterward, you’ll have access to your Binance dashboard, where you can purchase Fetch.ai.
Step 4: Verify Your Identity
Then verify your identity by uploading a picture of your passport, ID card, or driver’s license. Also, provide proof of address by sending a document of your phone bill, bank statement, or utility bill.
Step 5: Deposit Funds into Your Account
Now deposit funds into your account using one of the options provided by Binance.
Step 6: Select the Correct Trading Pair
Open the convert page under the trade tab and select the correct trading pair. For example, if you deposit dollars into your account, select the USD/FET pair.
Step 7: Click the Convert Button
Input the number of tokens you want to purchase and click the convert button. Now you can see your updated portfolio in the Binance wallet section.
How to Trade Fetch.ai?
Trading Fetch.ai requires little experience if you use eToro. Moreover, their platform is ideal for new investors as the buying process is straightforward.
Step 1: Sign Up and Verify Your Account
Sign up to eToro and verify your account to eliminate any restrictions.
Step 2: Fund Your Account
Then deposit money into your account using one of their available methods.
Step 3: Open the Trading Interface
Go to the crypto marketplace and click on Fetch.ai to open the trading interface.
Step 4: Complete the Trade
Write the number of coins you want to purchase and review the order. Afterward, click the buy button to complete the trade.
Step 5: You Can Now See the FET Tokens You’ve Just Bought
Now, you can open your portfolio to see the FET tokens you’ve just bought.
Crypto Investment Strategy
The crypto market is highly volatile, which can intimidate new investors. Therefore, implementing an investment plan can help prevent bad decisions. Below are the most popular investment strategies.
Long-term Holding: HODL (holding on for dear life) is a strategy that many investors use because, historically, it’s the most profitable. This plan requires you to buy coins and hold them for years waiting for the price to increase substantially. Also, to minimize the risk, you can set up sell points towards your goal price. Often investors sell until they receive their initial investment back and leave the rest.
Short-term Holding: A trickier strategy to implement is short-term holding, requiring you to buy FET and sell once the price increases. Short-term holding is more profitable but has more risks since the volatility can impact your gains. Moreover, you need to stay up to date with developments in the market because this affects prices drastically.
How to Store Fetch.ai?
After purchasing Fetch.ai, the next step is to store them safely. Often investors leave their coins on exchanges, which are vulnerable to hacks. Therefore, users should transfer their coins to a hardware or software wallet, which greatly improves security.
Software wallets are ideal if you have short-term plans because they let you quickly transfer coins to and from exchanges. Also, they take minutes to set up and heavily improve the security of your coins. Moreover, you can connect to multiple dApps with software wallets to exchange coins, stake, or provide liquidity.
However, if you plan to hold long-term, a hardware wallet is the best option since they’re unhackable. Make sure to keep your seed phrase hidden in a secure location because that’s the only method to steal your coins. Although hardware wallets require an initial investment, the benefits in return are worth the price.
Below are the best options to store Fetch.ai:
Software Wallet
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Atomic Wallet
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Trust Wallet
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MyEtherWallet
Hardware Wallet
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Ledger Nano S
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Trezor One
What Are the Different Ways to Pay for Fetch.ai?
Fetch.ai is available to purchase with a variety of payment methods. However, the availability of these options depends on the platform you decide to use. Here are the main methods to buy FET.
Credit /Debit Cards
Credit and debit cards are widely available on exchanges and brokers. Simply input your details, and you’re good to go. Also, the platform can save your details, making it easier to buy crypto next time.
- Reliable payment system
- Available on most platforms
- Convenient to use
- Banks can deny transfers to crypto platforms
- Not an anonymous payment option
Bank Transfer
Investors can transfer money to their desired platform via bank transfer. However, make sure to double-check all the sections before clicking transfer to ensure all the details are correct.
- Quick transfers
- Secure payment system
- Banks can deny your transfer to a crypto exchange
- This payment method is centralized
Cryptocurrency
Investors can purchase Fetch.ai by exchanging the coins they already have. Centralized and decentralized exchanges offer multiple trading pairs for FET, making it convenient for investors.
- Investors can buy FET anonymously
- Low fees when using an exchange
- Multiple trading pairs available for FET
- Huge fees when using Ethereum based decentralized exchanges
- Beginners can find this method too complicated to use
What to Consider When Buying Fetch.ai?
When buying Fetch.ai, there are some considerations to make. Below are the main factors that should impact your investment decisions.
Fees: Platforms can apply fees for using their services. Trading and withdrawal fees are the biggest costs of investing in crypto.
Volatility: The crypto market is extremely volatile, meaning the price can swing in either direction. Invest what you can afford to lose because nobody can predict the market accurately.
Regulations: Make sure to use platforms regulated by government authorities to ensure your money is safe. Brokers and exchanges are only licensed if they provide a fair service to their clients.
Investment Strategy: Before investing in FET, you should create an investment strategy to increase your chances of making a profit. Also, this avoids emotional trading, which is the biggest issue for beginner traders.
Is It Safe to Buy Fetch.ai Online?
It’s safe to purchase Fetch.ai if you use a regulated or trusted platform.
Regulations ensure that all activities on the platform are fair and safe for investors to use. However, decentralized exchanges are unregulated, so only use the most popular platforms like 1inch Network, UniSwap, and PancakeSwap.
Furthermore, after buying coins, enable 2-step authentication to add another layer of security. Also, whitelist your crypto addresses since this can save your money if the account is compromised.
How to Sell Fetch.ai?
Open the trading interface on your platform and select Fetch.ai. Then write the number of FET you want to sell in the required section. Then review the order and press the sell button.
Is It Worth Buying Fetch.ai Right Now?
Fetch.ai has a decent market cap of $244 million, which places it in the top 200 of all cryptocurrencies. At its peak, FET reached $0.95 but has fallen to $0.32 due to the crypto market crash. Remember that crypto is a highly volatile asset, and buying FET carries risk.
In my opinion, Fetch.ai is one of the best AI projects that aims to provide automated solutions to businesses. This is definitely a long-term hold since Fetch.ai needs adoption for the price to increase significantly.
Final Thoughts
To summarize, there are several methods to purchase Fetch.ai and multiple factors to consider. Exchanges provide the lowest fees and have multiple trading pairs for convenience. However, brokers are more user-friendly for beginners since they don’t have complicated trading interfaces.
FAQs
What is Fetch.ai?
Fetch.ai is an open-source, decentralized marketplace for businesses and individuals. The platform specializes in making autonomous applications.
Do I have to be 18 to buy cryptocurrency?
To use a broker or centralized exchange, you’ll need to be 18 years or older to comply with KYC laws. Before creating an account, the platform will specify in their ToS the minimum age requirement.
Can I buy Fetch.ai instantly?
Investors can purchase FET instantly by placing a market order in the trading interface. This takes the best available price and buys the token without delay.
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