How and Where to Buy Fire Token (FIRE) — Step by Step Guide
What is Fire Token (FIRE)?
Fire Token is a deflationary BEP-20 that uses the reflection model to benefit holders and guarantee the project longevity. Fire Token has a built-in mechanism to secure funding for marketing and does not have Safemoon issues with the Liquidity Pool Tokens.
Fire token taxes sellers by 6%:
Holders of Fire Token will be rewarded 2% of every transaction; in other words, it is an in-wallet staking mechanism that does not require tokens to be locked.
Fire token depends on Pancakeswap liquidity pools to have a market. For that reason, there is a 2% tax on every transaction, used to add FIRE and BNBs back to Pancakeswap Liquidity Pool to guarantee that there is always liquidity for Fire Token.
Lastly, there will also be a 2% fee on seller transactions directed to the Marketing Fund. The tokens on this fund will be 100% used to grow the project.
Security:
The Problem: Most projects in the Binance Smart Chain from 1 million to 1 billion market cap are all forks, not say copy and paste, of Safemoon. Fire Token used the Safemoon contract as a base, but we removed several functions that served no purpose and fixed a security vulnerability. Safemoon and all their forks have functions that allow them to exclude addresses from getting rewards and not pay fees. They also have functions that enable them to update the fees, which means that in theory, Safemoon & Co could increase the liquidity fee to 100% and force all transaction value to be added to the Pancakeswap Liquidity Pool. This, combined with the fact that they designed their contract to receive the new-minted liquidity pool tokens, allows them to do a rug pull at any time. Most forks are forced to renounce ownership to fix this issue, which can have long term consequences.
The Solution: Fire token removed all functions related to this to keep its users safe. Fire token does not allow the owner to update the value fees nor exclude accounts from fees or rewards. Furthermore, new-minted liquidity pool tokens go directly to the burn address, making the Fire token rug proofed. These features make the Fire Token the safest deflationary reflection asset to date.
Supply The supply was kept at 1 billion tokens, so prices remain readable to holders. Our Dev Wallet started at 5% of the total supply. However, 2% will is used for burn events, and 1% is allocated for Airdrops to increase adoption. In the end, we will have a dev wallet of 2%. The Burn Wallet will start with 30% of the supply, which means it will burn 30% of the tax rewards and grow by 2% of every transaction forever — this ensures that as volume increases Fire Token deflationary rate also increases.
Marketing Fund Most projects rely on donations to fund their marketing — instead, Fire token taxes the sellers to support our marketing instead of depending on our holders.
We have an address dedicated solely for marketing purposes, which anyone will be able to track as transactions can easily be verified in the blockchain. Every week, there will be open discussions in which community members will participate in crucial decisions on how to spend the funds in this account. Without exposure, exchange listings and events, holders get quite troubled and move to other coins. This will ensure that Fire Token will always have enough funding to grow its community.
The marketing funds can also be used for charitable purposes if the community wishes to — the aim is to empower the community to control how the marketing should be planned and made.
FIRE has been listed on many crypto exchanges but like the other cryptocurrencies it cannot be purchased directly with fiat money.First we need to convert our fiat to bitcoin through any crypto exchange and then transfer it to the exchange which offers to trade this coin, we have created this comprehensive guide to help you.
If you already have BTC then simply click on below link to go directly on the exchange and buy it.
Fire Token (FIRE)
Step 1 : Create Account on Coinbase
After creating the account you will need to buy either Bitcoin (BTC) or Ethereum (ETH).We have chosen Coinbase because it is the largest crypto exchange which allow fiat deposits.Use the link below to sign up on Coinbase, after spending 100 $ you will receive free 10 $ BTC.
SIGN UP ON COINBASE & GET 10 $
Click on “Get started” and add your Real First Name and Last Name as Coinbase will use it for KYC.Add Email and Password and Click on “Create Account”.
You will receive a confirmation Email.Open you email client and click on the link.Then you will be asked to add your Phone number for two-factor authentication (2FA).Make sure to turn this on as it will help you to keep your account secure against hackers.
After 2FA,You will be asked to verify your identity.The process is automatic and would not take more than 15 minutes to get approved if all the details are correct.
Step 2: Buy coins with fiat
After creating your account, You can buy Btc or Eth by paying through Credit/debit card or Bank Transfer.
Important Info
Bank Transfer has low fees but it takes more time to transfer while Credit/debit card fees would be higher but it will be instant.
Congrats you have purchased your first Cryptocurrency.
Step 3 : Transfer your Coins to HOTBIT exchange
As Fire Token (FIRE) is not listed on Coinbase.We will need to transfer it to Hotbit which is an exchange which allows us to trade crypto currencies and tokens.HotBit is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.
Founded in 2018 and holding Estonian MTR licence, American MSB licence, an Australian AUSTRAC licence and a Canadian MSB licence，HotBit cryptocurrency exchange is known as a cryptocurrency trading platofrm that continues to develop and integrate various forms of businesses such as spot trading, financial derivatives, cryptocurrency investment and DAPP into one platform. Currently, Hotbit’s businesses covers more than 210 countries and areas. Based on its globalized and unified strategies, HotBit continues to focus on world’s emerging markets such as Russia, Turkey and southeastern Asia markets, and was ranked one of the top 3 most welcomed exchanges by Russian media in 2019.
After Signing Up, You need to setup two factor authentication so you account is secured from hacking attempts.
Step 4 : Deposit BTC to Hotbit Exchange
After creating account you will need to add the btc you have bought from Coinbase to Hotbit so You can trade it for the currency you want to Buy.
First you will need to click on Deposit on Hotbit Exchange and Select the Btc.There would be a Btc address it is same like Bank account this address can be used to deposit Btc in hotbit exchange.Copy the Btc address and login to coinbase again.
Now head back to Coinbase, go to Portfolio page and click on Bitcoin on your asset list, then click on ‘Send’ on the right.
Paste the exchange wallet address which you have copied to the “Recipient” Section.Always check that the address matches the exchange address.It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.
Click ‘Send’Btc to proceed, you should willl receive a email instantly, click on the confirmation link in the email and your coins are on the way to HotBit!
Now go to Hotbit Exchange and see if you have received the deposit.Don’t worry if you haven’t received it yet.Sometimes it takes few minutes for the confirmations of btc depending on the network traffic condition of the bitcoin network.
Step 5 : Trade BTC to FIRE
Now go to “Exchange”.It would be overwhelming to see these graphs for the first time.Don’t worry I will guide you how to trade btc to Fire Token (FIRE).
In the left column there is a search bar.Type “FIRE” you will see FIRE/BTC.Select that pair and you should see a price chart of FIRE/BTC in the middle of the page.
In the bottom there would be a Green button “BUY FIRE”.Go to that section and choose “Market” enter the amount of btc you want to trade to Fire Token (FIRE) or select the percentage you want to trade.When you have confirmed everything, click “Buy FIRE”. BOOM! You have finally bought FIRE!
The most popular crypto exchanges are mentioned below.They have a huge user base and a lot of daily trading volumes.You can sign up on these exchanges and once FIRE gets listed there.There would be huge trading opportunities for you on these exchanges.
Binance is a top cryptocurrency exchange which was started in China but then moved their headquarters to the crypto friendly Island of Malta in the EU. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
NOTICE
Binance doesn’t allow US investors we recommend you to sign up to the below exchange if you are from USA
Kucoin’s main selling factor is the wide selection of trading pairs. You can find most of the new altcoins here. Kucoin also demonstrates an impressive trading volume. It is almost every day one of the top 10 exchanges with the highest trading volume.
The best thing is USA investors can sign up on kucoin.
Best hardware crypto wallets
If you want to keep your hodl your crypto for a long time then you would want to keep it secure in a hardware wallet.Although Crypto exchanges are safest way to secure crypto but there has been incidents of hacking and vulnerabilities on the exchanges.In this case it is best recommended to keep your crypto secure in a hardware wallet.
Hardware wallet are a better option of cold wallets. They are USB enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.
Below are the pros and cons of both the wallets
Nano Ledger S
Pros
- Affordable Price
- Smaller and lighter than Nano Ledger X
- Allows for secure storage of crypto assets
- Can be used on desktops and laptops
Cons
- Only capable of managing up to 3 crypto assets at once
- No battery power
- No Bluetooth capability
Nano Ledger X
Pros
- Bluetooth functionality with the Ledger Live Mobile app
- Ability to manage up to 100 coins at a time
- Larger display size
- Multiple languages available
Cons
- Larger and heavier than the Ledger Nano S
- More expensive at $119
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FAQS
Can I buy Fire Token with cash?
You cannot but Fire Token with cash.You can sign up on P2P exchange Paxful to buy bitcoin and then follow the steps mentioned above to buy coins with it.
Buy Bitcoin from local sellers
Paxful is a Peer to peer (P2P) Bitcoin exchange.It is a marketplace to buy and sell bitcoin.There are 300+ Payment methods available and you can go there to buy bitcoin if your desired payment method is not available on the exchange.But prices are higher on p2p exchanges and you have to be cautious while purchasing or selling there.
Is there any alternative platforms to buy Fire Token or Bitcoin with credit cards
You can buy from changelly to buy Bitcoin or other crypto currencies.It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.
