How and Where to Buy Flow (FLOW)
Dapper Labs is well known for creating CryptoKitties, NBA Top Shot, and Dapper. In 2018, it founded the Flow Network to develop new ways of global digital user engagement using blockchain technology. The objective is to create a deeper connection with users and the brands they enjoy and expand opportunities for consumers to become active creators and have a stake in a community where they contribute.
The Flow project has the backing of multiple strategic investors with a shared vision for a dynamic future in Web3, such as Andreessen Horowitz, Venrock, CoinFund, AppWorks, Blocktower, Digital Currency Group, and a16zcrypto.
What is Flow (FLOW)?
Flow is a layer-one decentralized blockchain and developer-friendly Web3 platform that combines usability and scalability to provide next-generation digital assets, apps and games.
Flow’s native token that powers the network is $FLOW. It’s the currency used by developers, validators and users participating in the network to maintain integrity and security in order to receive rewards. $FLOW is also the token required to pay fees and take part in the future governance of the Flow protocol.
The Flow ecosystem
Flow created the blockchain to encourage mainstream adoption. The network says it is the only blockchain building usability layers into the protocol layer, and some of the industry’s leading developers and global brands build on the Flow platform.
Flow has an impressive list of ecosystem partners, including: –
- Warner Music Group
- Sumo Digital
- Dr Seuss
What Makes Flow (FLOW) Unique?
Flow is a global leader in energy efficiency, with a goal to lead Web3 to an eco-friendly future.
“In simple terms, minting an NFT on Flow requires less energy than an Instagram post.” – Flow website.
Comparisons of Energy Usage – PoW (proof of work) blockchains
Proof of work (PoW) blockchains are energy-intensive. The Flow blockchain represents a significant energy reduction.
- FLOW – 0.18 GWh
- Bitcoin – 182,120 GWh
- Ethereum – 82,190 GWh
Comparisons of Energy Usage – PoS (proof of stake) blockchains
PoS (proof of stake) is typically less energy-intensive than PoW, but Flow’s energy consumption beats some of the industry leaders for PoS energy consumption.
- FLOW – 0.18GWh
- Solana – 11.05 GWh
- Polygon – 0.79 GWh
Other Unique features of Flow (FLOW)
- Multi-role architecture – the network can scale without sharding to billions of users and without compromising decentralization consensus
- Resource-oriented programming – Flow uses Cadence, a safe and easy programming language used for writing smart contracts
- Developer ergonomics – The network is ideal for anyone wanting to provide valuable products to the community
- Consumer onboarding – Flow has safe and easy payment on-ramps such as cryptocurrencies, or fiat currencies for mainstream consumers
How and Where to Buy Flow (FLOW)?
If you want to invest in Flow (FLOW) tokens, it’s a good idea to choose a reputable exchange, such as Kraken:
- Create a Kraken account – click on the link in the top right corner of the official Kraken website
- Click on the activation key – a link is sent to your email
- Log in and go to the “funding tab – and click on “deposit”
- Enter the amount – and choose a payment method: credit or debit card or ACH online banking
- Find the $FLOW pair – FLOW/USD, FLOW/ETH, FLOW/EUR, FLOW/XBT & FLOW/GBP
- Transfer your $FLOW tokens to a secure wallet. Kraken does not have a separate downloadable cryptocurrency wallet, so ensure you set up an off-ramp wallet before buying $FLOW tokens
Kraken also has a ‘buy crypto’ widget for buying, selling or converting combinations of cryptocurrency and cash.
- To buy – click on the “buy” tab
- Choose the asset – click on the drop-down menu
- Enter a cash amount and choose a “pay with” method
- Payment options – your cash balance, credit or debit card, or through your online banking (ACH)
- Check processing fees – and confirm to complete
How do I Sell Flow (FLOW)?
To sell your $FLOW tokens: –
- Kraken itself is a quality on and off-ramp, so convert your $FLOW into your fiat currency of choice and withdraw it to your bank account
Should I Buy Flow (FLOW)?
Buying $FLOW tokens is a personal choice, and we cannot advise on any investment opportunities. Make sure you do sufficient research before buying any cryptocurrencies. Still, if you are ready to buy $FLOW tokens, register with an established cryptocurrency exchange like Kraken, Binance or Gate.io.
How do I invest in Flow (FLOW)? Safely?
Investing in Flow (FLOW) tokens is as risky as buying any financial instrument. The cryptocurrency market is volatile, and there are no guarantees of making a profit.
One safety concern is to avoid signing up with a scam crypto platform. Make sure you register for an account with a regulated cryptocurrency exchange like Kraken, established in 2011. The FinCen regulation means that your Kraken account funds are protected.
Two alternative and equally trustworthy crypto exchanges are: –