Securities.io is committed to rigorous editorial standards. We may receive compensation when you click on links to products we review. Please view our affiliate disclosure. Trading involves risk which may result in the loss of capital.
Table Of Contents
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,
- 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 who run the network
- Users who govern the direction of the network
- Buyers and sellers who facilitate price discovery
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.
We list the top 3 exchanges that offer the ability to buy Efinity (EFI) cryptocurrency with a credit card, debit card, or Bitcoin (BTC).
Established in 2013, Gate.io has grown in to 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 Australia & UK residents.
USA & Canada residents are prohibited.
Established in 2013, Huobi Global 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, Huobi now serves more than 5 million users in over 130 countries around the globe. It should be noted that Huobi Global currently does not accept USA or Canadian residents.
Huobi Global is one of the top exchanges that currently offers Efinity (EFI) trading opportunities.
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.
Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.
You may like
Investing In Efinity Token (EFI) – Everything You Need to Know
Investing in Enjin (ENJ) – Everything You Need to Know
Investing In Polkadot (DOT) – Everything You Need to Know
Investing In the Huobi Token (HT) – Everything You Need to Know
Investing in Polygon (MATIC) – Everything You Need to Know
Investing in Algorand (ALGO) – Everything You Need to Know