How to buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase SKL on BYDFi. We'll guide you through it
Choose how to purchase SKL on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (SKL). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 500+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store SKL in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your SKL to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy SKL on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive SKL
Trade
Answers
Is SKALE (SKL) a Good Investment?
SKALE has gained attention as an investment due to its role in enhancing the scalability and security of Ethereum-based applications. The demand for improved infrastructure, like what SKALE provides, is increasing as more companies and developers rely on decentralized applications and smart contracts. SKALE also offers incentives for network participation, rewarding token holders who serve as validators, which enhances platform security and scalability. These incentives could drive up demand for SKL tokens, potentially influencing the token's price. Additionally, SKALE has the potential to significantly improve the speed of Ethereum transaction verification, making the network more appealing to users and potentially increasing the value of SKL.
What Is SKALE Price Prediction?
Several factors could positively impact SKALE's price prediction. The unique features of the project, its applications, and its potential for future growth are key considerations. For instance, SKALE's ability to enhance scalability and security for Ethereum-based applications may drive up demand for SKL tokens, leading to a price increase. Moreover, SKALE's capability to execute Solidity Smart Contracts thousands of times faster could make it more attractive to developers and businesses, potentially increasing its acceptance in the broader blockchain community and positively influencing the price of SKL.
What Is SKALE Tokenomics?
At the launch of the SKALE Network, the total supply of SKL tokens was 4.1 billion, with a maximum supply set at 7 billion tokens. The token distribution is as follows:
- 33% for validator rewards
- 28.1% for delegators
- 16% for the broader founding team
- 10% for the SKALE Foundation
- 7.7% for the protocol development fund
- 4% for the core team pool
- 1.3% for the ecosystem fund
How to Stake SKL on SKALE
SKL token holders, known as delegators, stake their SKL tokens with validators who operate nodes supporting the SKALE network. These validators process transactions and provide network security. Delegators and validators receive rewards in SKL tokens for their roles. The staking rewards depend on the amount and duration of tokens staked, as well as the validator's contribution to network security and performance. Higher stakes and longer durations offer greater potential rewards. It's important to note that staking SKL involves risks.
What Wallets Can You Use to Store SKALE (SKL) Tokens?
SKALE (SKL) being an ERC-20 token, can be stored in any wallet that supports ERC-20 tokens. Popular wallets like MetaMask, Trust Wallet, and Ledger hardware wallets are compatible. These wallets provide secure storage and management of SKL tokens by granting users complete control over their private keys, ensuring high security.
To add SKALE (SKL) to MetaMask, copy the contract address (0x00c83aecc790e8a4453e5dd3b0b4b3680501a7a7) and import it manually. Once added, you can view your SKL token holdings and trade on decentralized exchanges.
How to Use SKL Token
SKALE (SKL) serves four primary functions:
- Validation, Execution, and Security: SKL token holders (delegators) stake their tokens on validators who operate nodes, validating blocks, executing smart contracts, and securing the network.
- Developer Subscription Fees: Developers use SKL tokens to purchase subscription access to SKALE chains (S chains).
- Rewards for Validators and Delegators: Monthly rewards are accumulated based on developer fees for chains and monthly token inflation.
- Governance and Voting: SKL tokens will soon be used for on-chain voting, controlling all economic parameters of the SKALE network.
Additionally, you can trade SKALE crypto against other cryptocurrencies on platforms like the BYDFi Spot Market to profit from market conditions. Whether you buy, sell, or hold SKL, it's essential to conduct your own research (DYOR) before making any trades in the crypto market.
