What is FEG token (FEG) | What is FEG token
FEG is an EXPERIMENTAL progressive deflationary DeFi token built to succeed
The main idea behind FEG is to provide a decentralized transaction network which operates on the Ethereum blockchain. The path forward for FEG is determined by market fluctuations, but the model it runs on begs FEG to succeed.
FEG is a deflationary token with a max circulating supply of 100 Quadrilion. On each transaction, a tax of 1% will be distributed to the holders and a further 1% will be burnt, hence incentivizing holders to hodl and decreasing the supply overtime. As the supply decreases, the scarcity of the token increases. This inversely-proportional relationship constitutes a supply and demand model. Furthermore, there is no limit as to how many tokens can be burnt. Without a burning limit you know what happens next.
FEG ECOSYSTEM
DECENTRALISED
FEG is fully decentralised, there is no one main owner of the token. All decisions are made in the communities favor.
BURN RATE
Each transaction triggers a burn rate of 1%, which decreases the supply of FEG overtime.
REWARDS
FEG rewards its holders with a 1% tax on each transaction to punish weak hands.
FURTHER DEVELOPMENT
FEG is planned to advance further into the crypto space by releasing innovative products which will ensure the sustainability of the token.
How and Where to Buy FEG ?
FEG has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy FEG
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)…
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT)
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since FEG is an altcoin we need to transfer our coins to an exchange that FEG can be traded. Below is a list of exchanges that offers to trade FEG in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase FEG from the exchange.
Update: The top exchange for trading in FEG token is currently Gate.io, BKEX, Uniswap (V2), 1inch Exchange, and PancakeSwap
Find more information FEG
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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
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