Home How to buy crypto Buy Defi Not listed Note: This coin is not listed on Binance for trade and service. Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsem*nt by Binance about the reliability or accuracy of such content. Binance is constantly reviewing and adding cryptocurrencies that can be used on the Binance platform. If you would like to know where to buy Defi, which is currently not listed on Binance, you can follow the step-by-step guide below. The most straightforward way is to find a reliable centralized exchange where you can buy Defi, similar to Binance. You can refer to Coinmarketcap.com's Markets section to find the list of centralized exchange the coin is listed on. Another option to buy the Defi is through a decentralized exchange (DEX) which supports the blockchain where your Defi resides. This guide will show you how to buy Defi by connecting your crypto wallet to a decentralized exchange (DEX) and using your Binance account to buy the base currency. 1 Download a Trust Wallet Wallet There are several crypto wallets to choose from within the Ethereum network and Trust Wallet appears to be the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or the iOS App Store if it’s available. Just make sure that you are downloading the official Chrome extension and mobile app by visiting Trust Wallet’s website. 2 Set up your Trust Wallet Register and set up the crypto wallet via the wallet’s Google Chrome extension or via the mobile app you downloaded in Step 1. You may refer to the wallet’s support page for reference. Make sure to keep your seed phrase safe, and take note of your wallet address. You will be using it later on Steps 4 and 6. 3 Buy ETH as Your Base Currency Once your wallet is setup, you can login to your Binance account and proceed to the Binance Crypto webpage to buy the ETH. If you are not an existing user, you can refer to our How to Buy ETH guide on registering and buying your first cryptocurrency on Binance. 4 Send ETH From Binance to Your Crypto Wallet Once you buy your ETH, go to your Binance wallet section and look for the ETH you purchased. Click on withdraw and fill up the required information. Set the network to Ethereum, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your ETH to appear in your Trust Wallet. If you are using Binance Website: If you are using Binance App: 5 Choose a Decentralized Exchange (DEX) There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use Trust Wallet wallet, you can go to 1inch to make the transaction. 6 Connect Your Wallet Connect your Trust Wallet wallet to the DEX you want to use by using your wallet address from Step 2. 7 Trade Your ETH With the Coin You Want to Get Select your ETH as the payment and select the Defi as the coin you want to acquire. 8 If Defi Doesn’t Appear, Find its Smart Contract If the coin you want does not appear on the DEX, you can refer to https://etherscan.io/ and find the smart contract address. You can then copy and paste it into 1inch. Beware of scams and make sure you got the official contract address. 9 Apply the Swap Once you are done with the previous steps, you can click on the Swap button. From deciding where to buy Defi to making the purchase, your crypto transaction is now complete! Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsem*nt by Binance about the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. Binance is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance’s control. Binance is not responsible for the reliability and accuracy of such third-party sites and their contents.
FAQs
How to Buy Defi (DEFI) Guide – Binance? ›
To invest in DeFi, first get the tokens you need from Binance Smart Chain. You will need BNB (BEP20) to be able to buy. Then you need a wallet with a dapp browser to be able to trade tokens in exchanges like Pancake Swap, Venus, Uniswap, etc. Wallets endorsed are Trust Wallet for mobile and Metamask for desktop.
How to get DeFi in Binance? ›To invest in DeFi, first get the tokens you need from Binance Smart Chain. You will need BNB (BEP20) to be able to buy. Then you need a wallet with a dapp browser to be able to trade tokens in exchanges like Pancake Swap, Venus, Uniswap, etc. Wallets endorsed are Trust Wallet for mobile and Metamask for desktop.
How to invest in DeFi for beginners? ›The simplest option, which provides only general exposure to DeFi, is to buy Ether or another coin that uses DeFi technology. Buying a DeFi-powered coin confers exposure to nearly the entire DeFi industry. You can deposit cryptocurrency with a DeFi lending platform directly in order to earn interest on your holdings.
Where can I buy a DeFi token? ›You can buy De.Fi from a cryptocurrency exchange (CEX or DEX) or some cryptocurrency wallets. Usually we choose cryptocurrency exchanges to buy, most exchanges require you to set up an account and verify your identity before buying De.Fi. Cryptocurrency exchanges that currently support De.Fi trading include: Bybit.
How do I activate Binance DeFi wallet? ›Please note that the Binance DeFi Wallet is no longer available. You may use the Binance Web3 Wallet to manage your cryptocurrencies, execute token swaps across multiple chains, earn yields, and interact with a variety of blockchain platforms.
How do I set up DeFi? ›- Download the Crypto.com DeFi Wallet app.
- Select your wallet creation method. ...
- Accept our Terms of Service and Privacy Notice.
- Create and confirm your passcode.
- Enable biometric ID verification.
- Your Crypto.com DeFi Wallet is ready!
Getting started
If you haven't already done so, the first thing you'll need to do is set up a crypto wallet compatible with DeFi apps, like Coinbase Wallet or Coinbase dapp wallet. Your wallet is your gateway into web3 and the ecosystem of dapps (decentralized applications) like DeFi apps.
Yes! DeFi staking can be profitable, but it depends on various factors, including the specific assets you're staking, market conditions, and the platform's rewards and risks.
How to put money into DeFi? ›Popular options include MetaMask or Trust Wallet. Download and set up your wallet following the platform's user-friendly instructions. Purchase Crypto Coins: Fund your wallet by purchasing crypto coins. You can use platforms like Coinbase or Binance to buy Ethereum (ETH), a commonly accepted currency in the DeFi space.
Is investing in DeFi safe? ›Most financial experts categorize DeFi as speculative, recommending only to invest 3-5% of your net worth into crypto. Without a central authority, DeFi offers many benefits. Improved accessibility, lower transaction fees, and higher interest rates, to name a few.
What are DeFi protocols on Binance? ›
- Creating monetary banking services (e.g., issuance of stablecoins)
- Providing peer-to-peer or pooled lending and borrowing platforms.
- Enabling advanced financial instruments such as DEX, tokenization platforms, derivatives and predictions markets.
- Launch the DeFi Wallet and tap on the Trade tab.
- Acknowledge that you're not a resident of a geo-restricted region.
- Select the From/To networks and tokens. ...
- Enter the transaction amount.
- Download a Trust Wallet Wallet. ...
- Set up your Trust Wallet. ...
- Buy BNB as Your Base Currency. ...
- Send BNB From Binance to Your Crypto Wallet. ...
- Choose a Decentralized Exchange (DEX) ...
- Connect Your Wallet. ...
- Trade Your BNB With the Coin You Want to Get.
Go to the Binance website and log in to your account. Click on "Wallet" at the top of the page and select "Overview" from the dropdown menu. Find the Binance Defi wallet and click on "Deposit & Withdraw" next to it. In the "Withdraw" section, select the token you wish to withdraw.
Is Binance DeFi wallet safe? ›Most of the current DeFi wallets can operate as web 3.0 and have excellent compatibility with the Ethereum blockchain. When considering all the available solutions, DeFi wallets are the best and the safest methods that crypto lovers can use and still have full control of their assets.
Is DeFi coin listed on Binance? ›Note: This coin is not listed on Binance for trade and service. You can refer to our How to Buy Defi Coin guide. Cryptocurrency prices are subject to high market risk and price volatility.
How do you get DeFi coins? ›The most straightforward way is to find a reliable centralized exchange where you can buy Defi Coin, similar to Binance. You can refer to Coinmarketcap.com's Markets section to find the list of centralized exchange the coin is listed on.
How do I find my DeFi wallet? ›You need to open DeFi app and click, for example, on Receive > ETH, then you will see a long number below the QR code. This will be your wallet address, depending on the network you chose, it starts with 0x.
How to get a DeFi loan? ›To get started borrowing on a DeFi platform, first go to a reputable lending protocol such as Aave. Connect your web3 wallet to the DApp. Before you can borrow, you will first have to deposit some cryptoassets that you can use as collateral. Please see this guide here on how to lend.