How & where to buy Flexacoin (FXC) online

The Flexa network is a digital payment service provider allowing retail merchants to accept crypto transactions. Learn more about the platform, how and where to buy FXC in this beginners guide.
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Updated: Aug 11, 2022
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This page explains what you need to know before investing in Flexacoin. Learn what it is, how to buy its tokens, and what the future may have in store for the project. 

What are the best exchanges to buy FXC on?

It’s not possible to buy Flexacoin on an exchange like Binance or Coinbase at the moment. Instead, you will need to perform a ‘swap’, which is quite a common way to get your hands on smaller or lesser known coins.

A swap is simply a means of exchanging one cryptocurrency for another. Its an easy process and similar to a currency conversion where you exchange GBP for USD, for example. 

The process sounds a lot more complicated than it is, so don’t worry. You can use our guide below to find the exact steps you need to take to buy FXC. 

How to buy Flexacoin online – a step-by-step guide

Step 1. Find an exchange

You can swap Flexacoin with Ethereum, so the first step you need to take is finding an exchange where you can buy ETH with a fiat currency. Our recommendation is Binance, as it’s one of the easiest platforms to use, and you can also buy a wide range of other cryptocurrencies.

Before buying anything, you need to create an account with Binance. This is a quick and easy process; follow the on-screen instructions on the Binance homepage to go through the registration process. You will need to provide a form of ID, like a passport, at the end, so make sure you have it to hand.

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Step 2. Transfer ETH to a crypto wallet

Now that you’ve got your Ethereum, you will need to move it to a wallet. A wallet is like a bank account for your crypto. You can use one to store coins and move them to different exchanges securely. A good (and free) option is MetaMask, which you can manage through a Google Chrome extension.

Each wallet has a unique ‘address’, which you will need to move your ETH to your wallet. The image below shows where you can find your address. Transferring your ETH or MetaMask requires you to click the ‘send to wallet’ button on Binance.

metamask address

Step 3. Connect your wallet to Uniswap

Now you need to connect your wallet to Uniswap. Go to the swap section on the Uniswap website (click the launch app button first) and click ‘connect wallet’. You will get a choice of wallets and you need to select MetaMask, or whichever wallet you signed up to. Now you will be able to access the money in your wallet and swap it for FXC.

Step 4. Swap ETH for FXC

Click the swap tab and select ETH from the first drop down list. Choose FXC for the second drop down and enter how much ETH you want to spend. The platform will then show you how many FXC you can get. If you’re happy with the amount, you can execute your trade.

And now you’re done. This can seem odd at first, but it’s standard practice for any crypto investor who wants to buy lesser-known altcoins. Sign up to Binance to get started and then the whole process only takes a few minutes.

How to trade Flexacoin – a step-by-step guide

If you want to trade Flexacoin the steps you need to follow are the same as the above section. You cant buy FXC coin on a regular exchange so you need to use a DEX to swap it for ETH.

Here’s a short guide explaining how to trade Flexacoin.

Step 1. Find a broker

You can’t use a regular broker to trade FXC and you will need to perform a swap using a decentralised exchange. Lots of smaller altcoins aren’t yet available on trading platfroms like eToro and you will need to use a DEX such as Uniswap. The process of buying and selling is exactly the same as the how to buy guide above.

Step 2. Learn how to perform technical analysis

A lot of traders use technical analysis to help with their trading. Technical analysis is a way of learning how to read price charts. You can use technical indicators to help with your decisions. Although one of the easiest ways to analyse a price chart is by looking at support and resistance levels. 

Step 3. Start trading

Once you have completed the steps above you can start trading. Its important you make sure you are careful at this stage as mistakes could be costly. Always ensure the trade details you enter are correct and its recommended that you use a stop loss so your trade is protected if it goes against you.

Should I invest in Flexacoin?

Flexacoin is best suited to investors willing to take a chance on it becoming a leading payment provider platform. Since it launched, it’s been growing at a rapid pace, with tens of thousands of merchants already using its services in the United States and Canada. It offers a range of benefits compared to traditional payment providers such as Visa and Mastercard. 

It’s decentralised platform has been designed to be fraud proof, offer instant transactions, and deliver worldwide payments without foreign exchange fees. Unlike centralised payment systems which often fall prey to fraud, Flexacoin does not require customer information to process a transaction. Its network is designed to guarantee payments against all types of fraud. 

Flexacoin has a lot of advantages and is run by a team who have previous experience in the payment industry. Its CEO is the former CTO of digital payment platform, Raise. It also has a board, consisting of advisors from Apple, Google, and Samsung. If it is able to continue its growth and onboard more merchants, investing in its token could prove to be a prudent move. 

Still undecided?

Investing in cryptocurrencies requires a lot of decision making and it can sometimes be hard to make a call. If you’re still undecided we’ve rounded up a few pros and cons for Flexacoin to help you make up your mind.

Pros

  • Built on the Etherum blockchain which is the largest and most popular decentralised network. 
  • Many benefits over traditional payment providers including instant transactions, fraud proof, and no foreign exchange fees. 
  • Merchants can directly integrate the Flexa platform into their current payment hardware or software. 
  • Users can pay for goods and services in cryptocurrencies and merchants can receive payments in fiat.

Cons

Below we’ve included three common questions and answers in more detail to help you decide. 

1. Is now a good time to buy Flexacoin?

Yes, if you believe in the long term prospects of the project, then investing now could be a good idea. It’s been growing its number of merchants and as cryptocurrencies become more mainstream, it could be well positioned to take advantage. However, it can be difficult to pick the perfect time to buy, so it’s a good idea to use dollar cost averaging when buying. 

If you plan to trade it for the short term then there is more to consider. FXC is quite a volatile coin so it has its advantages for traders. Monitoring its volatility is a good idea, as that’s when you’ll have the most opportunities to trade it. Whatever you decide to do, its helpful to stay up to date with the latest market analysis, which you can do on the links below.

2. What problem does Flexacoin solve, and what are its investment prospects?

Flexacoin is a digital token that allows cryptocurrency payments to occur on the Flexa network. The Flexa network lets retail merchants accept payments in cryptocurrencies, which are converted to fiat instantly. The platform’s native token FXC, facilitates this process and is used as collateral. 

Token holders are incentivised to stake their coins, which the network uses as collateral inorder to guarantee merchants receive their money instantly. For staking their coins, holders receive a small percentage of each transaction completed on the network. As the network grows, the demand for FXC will likely grow too, as will the rewards holders receive. 

The Flexa network solves a lot of problems usually encountered when using traditional methods. Fraud is eliminated when using the platform, as are FX fees. As an investment, Flexacoin could be a good choice, although in order for it to pay off, it needs to grow the number of merchants it has. If you want to keep up with the latest FXC news, you can check out the links below.

3. Do you want to hold Flexacoin for the long term?

If you think Flexacoin will become the platform of choice for cryptocurrency payments, then buying its coin and holding it for the long term is something to consider. If you prefer focusing on short term movements, then trading is a better option. Below are a couple of final considerations to help you make your decision. 

Considerations for a long term investment strategy

Signing up with an exchange is your best option if you plan on holding FXC for the long term. With so many options available, it can be a tricky decision to make. You can check out our expertly selected exchange recommendations further up the page. 

Considerations for a short term trading strategy

If you have a short term outlook for FXC and want to capitalise on little price movements, then a broker is the best option for you. Using a platform with low fees will help reduce your costs and you can check out our recommendations here.


Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Prash Raval
Financial Writer
When not researching stocks or trading, Prash can be found either on the golf course, walking his dog or teaching his son how to kick a… read more.