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We have many coins in the digital base, we wish to buy for investable returns. But, the question that arises is where can we find them securely. This guide has everything you need to know about where and how to buy FLOW crypto.
FLOW is a fast, decentralized, and developer-friendly blockchain designed as the foundation for a new generation of games, apps, and digital assets that power them. It is built by a team that has delivered excellent consumer blockchain experiences, including CryptoKitties, Dapper Wallet, and NBA Top Shot.
FLOW Crypto: Price Analysis
Dated: 28th June 2023(Source)
- Flow price moved, last 24 hours: -2.60%
- FLOW to USD conversion rate: $0.52 per FLOW
- Circulating supply: 1,036,201,350 FLOW
- Current market cap: $542,391,307.
Over the last year, the Flow price is -64.94%. The highest price of FLOW in the last year was $3.06, and the lowest in the previous year was $0.46.
Where to buy FLOW Crypto?
FLOW can be bought on various exchanges. Some renowned exchanges where you can buy FLOW include:
- Binance
- Coinbase
- Kraken
- Huobi Global
- KuCoin
You can also buy FLOW through decentralized exchanges (DEXs). DEXs are peer-to-peer exchanges allowing you to buy and sell cryptocurrencies without a centralized third party. Some of the most popular DEXs where you can buy FLOW include:
- Uniswap
- PancakeSwap
- SushiSwap
- Balancer
Source: Binance.com
Is FLOW crypto a good investment?
One can not say whether some coin is investable when talking about cryptocurrencies. This is because of the market volatility based on factors like investor relations, technology and overall market conditions.
FLOW could be a good investment if you consider the factors mentioned below, which makes it different to others:
- Multi-node architecture: FLOW uses a multi-node architecture, which divides the work of the network across different types of nodes. This allows FLOW to scale horizontally, allowing it to be expanded to handle more traffic easily.
- Proof of Stake consensus: FLOW uses Proof of Stake consensus, a more energy-efficient and secure consensus mechanism than Proof of Work.
Source: Imi Blockchain
- Sharding: FLOW uses sharding, a technique that divides the blockchain into smaller pieces. This allows FLOW to scale to millions of transactions per second.
How to buy FLOW crypto?
Here are the steps on how to buy FLOW cryptocurrency:
- You can buy FLOW on various exchanges, including Binance, Coinbase, Kraken, Huobi Global, and KuCoin.
- Once an exchange is selected, create an account and verify your identity.
- Deposit funds into your exchange account using various methods, including credit card, debit card, bank transfer, or wire transfer.
- Once you have funds in your account, you can buy FLOW by placing an order.
- Once you have bought FLOW, store it in a secure wallet. Various wallets are available, so you can choose one that meets your needs.
Crypto coins similar to FLOW
Solana (SOL): Solana is a high-performance blockchain that is designed to be scalable and secure. It uses a Proof of Stake consensus mechanism to process up to 50,000 transactions per second.
Avalanche (AVAX): Avalanche is another high-performance blockchain which works on the Proof of Stake consensus mechanism and can process up to 4,500 transactions per second.
Polkadot (DOT): Polkadot is a multi-chain blockchain that is designed to connect different blockchains.
Tezos (XTZ): Tezos is a self-amending blockchain that is designed to be upgradeable without the need for hard forks. It uses a Proof of Stake consensus mechanism to process up to 400 transactions per second.
Cardano (ADA): Cardano is a proof-of-stake blockchain that is scalable and secure and uses a unique consensus mechanism called Ouroboros to process up to 250 transactions per second.
Source: Cardano
Market analysis of FLOW crypto
The recent surge in FLOW’s price is supported by a significant increase in the number of futures contracts traded but has yet to settle across major exchanges, including Binance. This metric, known as open interest, indicates the level of interest in trading FLOW, which can lead to higher prices.
Source: Coindesk
FLOW has surpassed its 100-day simple moving average (SMA), while bitcoin (BTC) and ether (ETH) remain below this critical technical indicator. This suggests that FLOW may be poised for a bullish move, but the broader downtrend is still in place.
Source: Coindesk
Risks while trading crypto
Price Swings: Cryptocurrencies prices soar to the sky or go straight to the ground within no time. It’s like a high-stakes game where you can win or lose it all in a blink.
Hacking: Cybercriminals find any loophole or weak spot to exploit, so you better fortify your defenses.
Regulatory changes: Governments and regulators are still figuring out how to handle cryptocurrencies. They might implement unexpected laws, taxes, or even bans.
Tech mishaps: Crypto trading heavily relies on technology, but glitches happen. The platforms can crash, trades get stuck, or the whole system can go haywire.
Overconfidence: Emotions and lack of experience can lead to bad decisions. When the market gets hot, FOMO can take over, and you might make impulsive moves that burn a hole in your pocket.
Ghost Coins: Not all cryptocurrencies are created equal. Some turn out to be scams or worthless projects. You might invest in a ghost coin that leaves you with regret.
PureVPN: Your security partner for Crypto trading
Scams and frauds like crypto jacking, pump and dump, Ponzi schemes, phishing attacks, fake coin offerings and malware and ransomware are too common in the crypto industry. Blockchains are said to be secure, but they are not. There is a need to add an extra layer of security to oneself. Ever thought about it?
- PureVPN – Stay anonymous while trading
- PureEncrypt – Encrypt your transactions and communication through a safe cloud
- PureKeep – Keep your wallets and other passwords under fail safe security
Concluding remarks
With Flow and many other coins at our end, we might have a secure investment. But that’s not true. If you are someone who understands the market and knows its dynamics, you will be careful about the selection of digital assets.
Be careful and invest after your research!
Frequently Asked Questions
The FLOW token is the native currency for the Flow network.
Flow Wallets are applications that allow you to keep Flow. It helps send and receive funds and enables you to communicate with Flow applications.
There are many reasons for this. One of the primary reasons is the bearish market dynamics. Also, according to many experts, Flow has not been trading successfully in NFTs and has also traded with large investors, which made it less desirable for all purchasers.
Marrium Akhtar
July 18, 2023
10 months ago
