How to Buy Efinity | Buy EFI in 4 Steps (May 2024)

Created by Enjin, Efinity is a parachain of the Polkadot network, purpose-built for Non-Fungible Tokens (NFTs).

Efinity is looking to solve multiple lingering issues surrounding NFTs in an attempt to broaden their appeal from ‘die-hard crypto enthusiasts to the public at large.  These include, but are not limited to,

• Fees
• Interoperability
• Lack of incentives
• Smart-contract flexibility

Above all, Efinity is looking to become a ‘hub for all fungible and non-fungible tokens'.  This goal is founded on the belief that ‘fragmented blockchains and marketplaces result in walled gardens that compete for liquidity and hurt the growing digital metaverse' – a problem Efinity is determined to solve.

For the Efinity blockchain to function, it relies upon its own paratoken known as ‘EFI'.  It notes that these deflationary tokens are given as compensation/incentivization for various actions.  A few of these include,

• Collator Nodes that run the network
• Users who govern the direction of the network
• Buyers and sellers who facilitate price discovery

The direction and development of the Efinity network is stated to be chosen through decentralized governance.  This gives EFI holders increased importance, as it is they who vote on submitted platform proposals.

To learn more visit our Investing in Efinity guide.

How to Buy Efinity (EFI) in 4 Steps

The whole process can take as little as 10 minutes and all you'll need is a smartphone or computer, photo identification, and a means of payment.

1. Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Efinity (EFI) cryptocurrency.
2. Create an account – Verify your email address and identity.
3. Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
4. Buy Efinity – Use your funds to Buy EFI.

We list the top 3 exchanges that offer the ability to buy Efinity (EFI) cryptocurrency with a credit card, debit card, or Bitcoin (BTC).

1. KuCoin

KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading.  It now offers a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards.

KuCoin currently offers Efinity (EFI) cryptocurrency trading as well as over 300 other popular tokens.  It is often the first to offer buying opportunities for new tokens.

USA residents are prohibited.

Read our KuCoin Review or visit KuCoin.

2. Gate.io

Established in 2013, Gate.io has grown into a reputable trading platform.  While it is not the most popular exchange, it provides users with an easy-to-use interface for beginners while maintaining robust and advanced charts for various skill levels – including technical traders. The exchange boasts a large number of altcoins including Efinity (EFI), and is often the first exchange to add new tokens. Notably, Gate.io maintains a strong stance against any type of market manipulation.

This exchange currently accepts Australian & UK residents.

USA & Canadian residents are prohibited.

Read our Gate.io Review or visit Gate.io

3. HTX Global

Established in 2013, HTX has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. Having once accounted for half of the world’s digital asset transactions, HTX now serves more than 5 million users in over 130 countries around the globe. It should be noted that HTX currently does not accept USA or Canadian residents.

HTX is one of the top exchanges that currently offer Efinity (EFI) trading opportunities.

Read our HTX Review or visit HTX.

4. Poloniex

Poloniex was founded in the United States in 2014.  It has quickly risen to become a very popular exchange of choice for crypto traders looking to combine a wide range of assets. Poloniex continues to expand its supported assets, with more than 100 unique pairings – including Efinity (EFI). With a recently revamped look, the exchange also looks more professional than ever, while boasting trading in futures and leveraging of up to 100:1.

Read our Poloniex Review or visit Poloniex.