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How & Where to Buy Factom A Step-by-Step Guide to Buying FCT

  1. Sign up at CoinSwitch, the #1 rated FCT exchange.
  2. Fund your account with cash or crypto.
  3. Buy FactomFCT
  1. STEP 1Find the Best FCT Exchange
    • coinswitch reviews
      Ease of use
      Time to 1st Buy
      24h Volume
      $
      Coins
      361

      This mobile aggregator platform collects data from all major exchanges, making it possible to swap a large number of cryptocurrencies at highly competitive rates. Mobile app-only CoinSwitch Kuber is the most popular cryptocurrency exchange service in India, with over 4 million users. Hassle-free arbitrage and trading process.

    Go to CoinSwitch and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Factom FactomFCT quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy FCT with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for FCT.

Frequently Asked Questions About Buying & Selling Factom (FCT)

How do I Buy FCT with Crypto?

If you want to buy FCT with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for CoinSwitch and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to CoinSwitch.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Factom (FCT)?

To sell FCT, simply reverse the buying process described above. You will likely need to trade your FactomFCT into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Factom Research Center

Factom Technical Details & Statistics

Tokenomics
  • Market Rank831
  • Market Cap17,196,782
  • Circulating Supply10,073,530
  • Total Supply10,073,530 FCT
Yesterday's Trading
  • 24 HR Volume21,653 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

What is Factom

Factom is peer to peer, open source, decentralised data validation platform, built atop Bitcoin blockchain network, and has its own native token (currency) called Factoids (FCT).
However, people use Factom and Factoids interchangeably and often they refer to Factoid (FCT) when mentioning Factom.

History of Factom

In January 2014, Paul Snow and Davis Johnston came up with the idea of a data integrity checker system, built atop blockchains and in June 2014, the coding began on Github. The project was originally named Notary Chains.
In November 2014, the whitepaper was released for Factom. Subsequently, in January 2015, Factom 0.1 was released and the initial token sale took place between March 31 to May 15 in 2015.
In September 2015, the Factom Genesis network went live.
In June 2016, Factom collaborated with US Dept. of Homeland Security on a project called “Blockchain Software to prove Integrity of Captured data from border devices”.

How Factom Works

To understand how Factoids work, first we need to understand how Factom network works.
Any user of Factom network can ‘hash’ any digital file including images, software, videos or personal files. Hashes are like digital signature and is unique for every asset. The hashes of multiple files are collated to create a single Hash block (called Entry Block) which are then combined to create a Directory Block.
This directory block is inserted into the blockchain network of Bitcoin and for future references, one can retrieve the hash for a particular file and check it against a freshly generated hash of the same file. If the hashes match, the file’s integrity is intact.
Factoids are needed to use this service. Factoids are used to buy Entry Credit (EC) which is needed to create the Entry Block.
Factom Uses SHA-256 for the hashing purpose.

Why Factom

Factom comes with a very unique proposal and the system has some inherent advantages.

  • Unique Proposition: Factom comes with a very original idea and a very appealing idea as well. With everything going digital, the integrity of the data and files is going to pay a big part in the society. Instead of trusting a company, Factom ensures this integrity using decentralised Blockchain protocol.
  • Stability of Bitcoin: Factom runs of the tried and tested blockchain network of Bitcoin which brings stability, safety and security to this platform.
  • Multiple Validation Protocols: Factom uses Proof of Existence, Proof of Process and Proof of Audit to validate the data on the network which makes the data triple safe and reliable.
  • Strong Hashing: Factom uses SHA-256 encryption and hashing technique which is leading technology in the world and is almost unbreakable. This leads to safety of the hashes. These hashes can not be reverse engineered to get to the original digital asset.
  • Fully Featured Coins: Factoids are traded at the all the leading exchanges and it is a fully featured cryptocurrency of its own. They can be traded, stored, invested into and converted to other cryptocurrencies or fiat currencies easily.