The Fei Protocol has an extension called Tribe. The Fei project is managed by the governance token. The token seeks to establish the viability of decentralised, capital-neutral cryptocurrency governance.
Particularly for individuals who are enthusiastic about the Fei protocol and its application cases, the Tribe token is a coin of interest. Here is a guide on how to buy Tribe in a matter of minutes if you want to learn more about this coin.
How to Buy Tribe – Quickfire Walkthrough In Less Than 10 Minutes
You may buy Tribe with ease via the decentralised exchange (DEX) known as Pancakeswap. Pancakeswap, which is a Defi token, offers the greatest decentralised method for purchasing Tribe money.
The simple steps that follow will show you how to purchase Tribe.
Step 1: Download the Trust Wallet on your iOS or Android device. Pancakeswap is accessible on this wallet.
Step 2: Look for the box in the top right corner of your screen to search for a tribe. Search by entering “TRIBE.”
Add cryptocurrency assets to your wallet in Step 3: Before using the DEX, you must first fund your Trust Wallet. There are two ways to achieve this. You may also
Step 4: Connect to Pancakeswap. Click the “DApps” icon at the bottom of your screen to link your Trust Wallet to the DEX. Select Pancakeswap next, then click “Connect.”
Step 5: Purchase Tribe Now that you have some bitcoin and have linked your wallet, you can purchase your tokens. Choose “Exchange,” then enter your base cryptocurrency in the “From” drop-down box. Find the “To” icon next, and then select Tribe from the drop-down menu. To complete the exchange, enter the number of Tribe tokens you desire and click “Swap.”
Your Tribe tokens will be delivered to you in a matter of seconds, and they will remain there until you decide to sell or trade them. You can sell using Trust Wallet and Pancakeswap.
Always keep the risks in mind when purchasing bitcoins. Digital assets are extremely volatile and speculative.
How to Buy Tribe – Full Step-By-Step Walkthrough
You now know how to purchase Tribe after reading the previous guide. This might not be enough, though, particularly if you’ve never bought a Defi coin or utilised a decentralised exchange previously.
We will give a thorough explanation of how to purchase Tribe quickly and safely in the whole step-by-step instruction.
Get the Trust Wallet first
One of the top decentralised exchanges for purchasing Defi coins like Tribe is Pancakeswap. It may be found on Trust Wallet, which works with both iOS and Android mobile devices.
Trust Wallet is totally compatible with Pancakeswap, plus it has additional perks too. For instance, your Trust Wallet provides sufficient protection for your Tribe tokens. No matter if you have experience trading cryptocurrencies or are a beginner, you will find the wallet to be simple to use.
Select a secure PIN when setting up your Trust Wallet. Keep in mind the 12-word seed phrase that your wallet gives you as well; if you forget it, you’ll be able to access your account. This means that anyone not allowed can log into your wallet if they have access to the seed phrase, so be cautious to store it safely.
Step 2: Add Cryptocurrency to Your Wallet
Before making any exchanges, you must have cryptocurrency in your Trust Wallet. You have the option of purchasing some with a credit card or sending funds from another bitcoin wallet. Here are the steps for both approaches.
Buy Cryptocurrency With Your Credit or Debit Card
It’s not difficult to purchase cryptocurrency using a credit or debit card. However, you must finish a Know Your Customer (KYC) process to prove your identity. This is due to the fact that you cannot purchase tokens using fiat money in an anonymous manner, mostly because to anti-money laundering laws.
The steps are as follows:
Locate the top part of your Trust Wallet and click “Buy.”
All the available tokens will be shown in Trust Wallet. You can pick any, although it’s recommended that you go with a well-known coin like BNB or ETH.
Next, decide how many tokens you want to purchase.
Finally, enter your card information where prompted and finish the transaction.
Your just purchased tokens will soon show up in the Trust Wallet.
Transfer Cryptocurrency From an External Wallet
Sending cryptocurrency from another wallet is an option. You must, however, already have some digital assets in that wallet. If so, follow these steps to do it quickly:
In your Trust Wallet, click “Receive,” then pick the cryptocurrency you want to send.
Copy the special address that Trust Wallet gives you.
Copy the address and paste it in the “Send” section of the cryptocurrency wallet you want to use to send the tokens.
Select the quantity and cryptocurrency, then complete the transfer.
Within 1-2 minutes, Trust Wallet will show the tokens you transferred.
Step 3: How to Buy Tribe Through Pancakeswap
You can now buy Tribe because your Trust Wallet has some cryptocurrency in it. To continue, all you have to do is establish a connection with Pancakeswap.
You can accomplish it by going through the quickfire guide’s step 4 above.
Once you have, proceed as follows:
On the Pancakeswap page, locate “DEX” and select “Swap.”
The digital item and quantity for the exchange can then be selected from “You Pay.” However, it must be the tokens you transferred from your external wallet or purchased with your card.
Select the tribe and desired quantity of tokens from the “You Get” box.
After that, click “Swap” to finish the exchange.
Your Trust Wallet will instantly contain your Tribe tokens.
Step 4: How to Sell Tribe
Understanding what it takes to buy Tribe and knowing how to sell it are both crucial. If you purchase some Tribe tokens, you probably want to sell them later in order to benefit from your purchase. Well
It’s just as simple to sell the tokens as it is to buy them, and you can do it via Pancakeswap.
Pancakeswap gives you a variety of possibilities for exchanging Tribe for another digital product. Simply repeat step 3 but enter Tribe in the “You Pay” area.
As an alternative, you can exchange your Tribe tokens for fiat money to deposit in your bank. However, you will have to use a centralised trading site to sell the coins. Given that Trust Wallet makes it simple to access, Binance is a wonderful choice in this situation.
However, with Binance, you have to finish a KYC procedure before you can withdraw fiat money.
Where Can You Buy Tribe Online?
Finding a platform to buy from is not exactly difficult because there are more than enough Tribe tokens to go around. However, if you want to purchase Tribe with the utmost comfort, Pancakeswap is the best option.
The core of decentralised finance is the elimination of intermediaries, which is why DEX platforms exist. By linking Trust Wallet to Pancakeswap, you can utilise it. This wallet is a great option for keeping your tokens secure, and it works flawlessly with Pancakeswap to make purchasing Tribe a breeze.
By staking your unused coins, you can earn money through Pancakeswap as well. You can increase your income by staking by adding to the liquidity pools. To increase your income, you might also turn to one of the many farming possibilities. Though there are hazards involved, it will be preferable if you trade cautiously.
Pancakeswap promotes diversification as well; the DEX has access to well over 500 different tokens. You have a sufficient number of trading possibilities thanks to this, which is a terrific method to diversify your holdings and lower your risk of losing money. Additionally, there is sufficient liquidity, even for little coins, if you plan to exchange your tokens.
Owners of cryptocurrencies occasionally struggle with transactions that take a long time to complete. It might be a bother and you might miss out on trading opportunities, especially if you have a point at which you want to enter the market. You won’t need to worry about it using Pancakeswap because the DEX executes orders quickly and charges minimal costs.
Pros:
Decentralized exchange of digital currency
No need to engage a middleman to purchase and sell cryptocurrencies.
has a wide range of digital tokens supported
enables you to receive interest on your dormant digital assets.
There is enough liquidity, even for minor tokens.
Lottery games and predictions
Cons:
initially seem intimidating to beginners
does not directly support fiat payments
Ways to Buy Tribe
It’s really simple to purchase Tribe, and you can do so using any of the offered methods. However, the technique you choose can differ based on whether you already have any digital currencies.
There are essentially two key ways to purchase Tribe, and you can select the one that best meets your needs.
Buy Tribe With Cryptocurrency
Currently, you can only use this option if you already have some cryptocurrency stored in another wallet. You can easily move some to your Trust Wallet, a fantastic mobile application that syncs flawlessly with Pancakeswap.
Then access the available tokens by connecting the Trust Wallet to Pancakeswap. The coins you sent to your Trust Wallet can then be converted into Tribe tokens.
Buy Tribe With Your Credit/Debit Card
You can buy Tribe directly if you don’t want to use a centralised exchange. However, you must first purchase cryptocurrencies if you plan to use a DEX.
Install Trust Wallet after downloading it. Complete the KYC procedure, then use your credit or debit card to purchase the bitcoin. Connect to Pancakeswap after that and purchase all the tribe tokens you require seamles.
Should I Buy Tribe Tokens?
By doing extensive research before purchasing Tribe tokens, you boost your chances of profiting. Whether Tribe will be a worthwhile purchase or not is one of the questions you may be asking yourself.
You might think about the following regarding Tribe as you are pondering this.
Growth Trajectory
One Tribe token is currently worth little more than $0.60 as of the time of writing in late July. On April 4, 2021, it rose to a peak of $2.49. The cryptocurrency is slowly increasing as of the publication of this article in late July. However, given that it has already crossed $2, purchasing the coin might be worthwhile. But this is still open to in-depth investigation, which will provide you more project perspectives.
In addition, the coin is currently inexpensive when compared to many other Defi tokens, including RenBTC, Lido, and Gnosis, among others. This indicates that now would be an excellent time to buy, especially if you are confident in the coin’s future growth. As a result, thorough research will aid in your decision-making.
Staking Rewards
Owners of Tribe tokens have access to staking opportunities through the Fei Protocol.
This is accomplished by setting aside 10% of the coin for staking rewards.
The staking contract was also created by the Fei Protocol team to be almost entirely flexible.
Tribe members can purchase shares in the Fei Protocol governance by using the assets they stake to win rewards.
Staking additionally offers greater liquidity.
All of this helps to generate interest in the coin, which could raise the token’s value.
Non-Capital Dependent Governance
40% of the Tribe tokens currently in use are given to the DAO treasury through the Fei Protocol. Holders of Tribes can then participate in governance without worrying about being treated differently according on how many tokens they own. In essence, the Fei Protocol’s governance is independent of the size of the holders’ digital holdings.
The Fei Protocol distributes Tribe tokens according to the Treasury receiving the biggest proportion of the available currency. The protocol clearly prioritises decentralised governance that is independent of financial resources based on this. A Tribe bearer might earn more benefits, nevertheless, the more tokens they own.
Community Support
Tribe uses 2% of the tokens in circulation to enable the Fei Protocol to give back to the community. Additionally, grants are made available for developers to spend in order to improve bitcoin and decentralised finance as a whole.
In essence, we might claim that the Protocol reserves funding for initiatives that address bitcoin defaults. Once more, this is an activity that draws attention to the currency and, if continued, could raise its value.
Tribe Price Prediction
On the internet, digital assets and price forecasts go hand in hand. They serve as a means of persuading bitcoin owners to purchase a specific digital token. However, they are rarely accurate. Therefore, it will be wise to refrain from buying Tribe tokens only for the sake of making price forecasts.
A number of factors, some of which you might not even be aware of, can have a significant impact on the volatility of cryptocurrencies. Therefore, be careful not to depend just on Tribeprice projections, but rather on in-depth study.
Risks of Buying Tribe
There is certain risk involved when buying digital assets, and Tribe is no exception. The coin is a highly unstable asset, and market speculation and FOMO can affect its value (Fear of Missing Out). As a result, the price can drastically change within minutes.
If Tribe’s value falls, you will have to hold off on selling until it soars back up if you don’t want to lose money. However, with cryptocurrencies, you never know if the price will increase again. Therefore, it is advised to exercise precautions when purchasing Tribe.
Before you purchase any tokens, make sure you have read up on Tribe thoroughly. Your odds of operating at a loss can be reduced if you have a thorough understanding of the project.
You can lessen your possible losses by buying Tribe in modest yet frequent sums. In this method, you avoid making additional trades until the market is more favourable.
When you diversify, you have other investments that can help you offset any Tribe losses. Spreading out your capital will also keep you from losing everything.
Best Wallets for Tribe
You must also find a way to store the tokens in addition to understanding how to purchase Tribe. In this manner, you can exchange your tokens more easily and prevent the loss of your tokens to hackers.
We have made it simpler for you to choose a wallet by offering the top options for Tribe.
Trust Wallet – Overall Best Wallet for Tribe
It is recommended to think about aspects like accessibility, user usability, and most importantly security while choosing a wallet for your Tribe tokens. These criteria are satisfied by Trust Wallet, making it the ideal wallet for Tribe.
Trust Wallet has backup features that guard against hacks and give you access in case you misplace your smartphone or forget your password. Additionally, it is really simple to use, so you don’t need any prior trading knowledge to get the hang of it.
Coinomi – Best Tribe Wallet for Convenience
Using a hardware wallet called Coinomi, you can store your cryptocurrency keys remotely. Because it is more difficult for hackers to access, offline storage is much safer than online alternatives. Unless of course they manage to seize the actual wallet.
Even in that case, your Tribe tokens are safe with Coinomi because you can’t access them without typing in the right terms. Your iOS or Android device can be linked to your Coinomi Wallet. It is also compatible with computers, making it the most practical Tribe Wallet.
Ledger Wallet – Best Tribe Wallet for Security
Another hardware wallet that works with Tribe is Ledger Wallet. It stores your digital assets offline, lowering the possibility of cyberattacks or other security breaches. However, before you can make any transactions, you must physically plug it in.
Additionally, you have to enter the PIN you selected when configuring the wallet each time you plug in your device. In case of a loss, Ledger also provides you with a recovery sheet that you can use to get access to your account.
How to Buy Tribe – Bottom Line
The procedure for purchasing Tribe is reasonably simple, and using Pancakeswap makes it much easier. You only need to download Trust Wallet, link it to Pancakeswap, and begin instantly swapping Tribe tokens.
After learning how to purchase tribe, trading becomes straightforward. By doing this, you’ll be well on your way to becoming a seasoned cryptocurrency trader who can purchase and sell virtually any Defi coin.
