How To Buy Flux (FLUX)?

A common question you often see on social media from crypto beginners is “Where can I buy Flux?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Flux (FLUX)

First, you will need to open an account on a cryptocurrency exchange that supports Flux (FLUX).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Flux (FLUX) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Flux (FLUX)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Flux (FLUX) or Flux (FLUX) trading pairs. Look for the section that will allow you to buy Flux (FLUX), and enter the amount of the cryptocurrency that you want to spend for Flux (FLUX) or the amount of fiat currency that you want to spend towards buying Flux (FLUX). The exchange will then calculate the equivalent amount of Flux (FLUX) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Flux (FLUX) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Flux (FLUX)?

The Flux Ecosystem is a suite of decentralized computing services and blockchain-as-a-service solutions which offer an interoperable, decentralized, AWS-like development environment. Flux utilizes a native POW (Proof of Work) coin to power this ecosystem, providing incentive for hardware hosters, governance on-chain, and bad actor mitigation via staking requirements for running hardware. The Flux operating system runs on top of Linux to provide the network with verified and benchmarked high-availability compute power and utilizes the blockchain to ensure transparency in governance operations.

Flux node operators can choose from three tiers of hardware requirements to stand up after providing the necessary Flux capitaI soft-locked in their wallet. This allows anyone to be rewarded for providing hardware to the network, from anywhere in the world.

Flux has built the necessary development tools to speed up the usage of blockchain solutions through creating real-world use cases and the underlying technologies necessary to build these products and platforms. The Flux Ecosystem has a plethora of current and future technologies to offer the world, and we are always working on adding more features to our offering through partnerships with other crypto projects in the space via strategic partnerships and our Fluxlabs incubator (see below). With these partnerships, we will help speed up delivery of usab/e blockchain products to the masses in easy-to-use applications and products. Projects that are currently working on single, large-scale blockchain problems can save time and resources by leveraging the Flux Network for scalable, decentralized enterprise-grade hardware resources to allow them to focus on their own projects. Partnerships will also help bring together the fractured crypto space to create an ecosystem of complementary products that work seamlessly together.

What is the Flux token?

Flux is a fair-mined, proof-of-work cryptocurrency that acts as a utility asset for onboarding to the Ecosystem and powering the transaction of information across the Ecosystem. The asset also acts as the main incentivization for operating a FluxNode: enterprise-grade server hardware powering the Ecosystem. Flux can be attained via GPU mining, trading on available exchanges, and as rewards for operating nodes. The Ecosystem is a community-based project with a foundation that represents the community’s voice and protects the community’s wishes for the project.

Flux is a fork of Zcash. The team strives to implement the necessary security and performance improvements from Zcash to stay lock-step with the Zcash team as Flux continues to commit its own improvements to the codebase.

Flux ecosystem

Next Generation Decentralized Web3 Computational Network with more than 2300+ Flux nodes located all around the globe providing around 10,900+ vCores of CPU power, 35+ terabytes of RAM and 850+ terabytes of storage. Anyone can stand up a Flux Node if they provide the required Flux collateral and hardware for one of three Flux Node tiers.

Flux Nodes can be run on Raspberry Pi/Home PC/Servers/VPS hardware from anywhere in the world. Flux node operators are rewarded with Flux through block rewards, but are also able to earn other cryptocurrencies by hosting specific dapps on their nodes. FluxNodes are what really differentiate Flux from other crypto projects. There are many projects that offer “masternodes” via low-powered nodes that process transactions. FluxNodes turn this idea on its head by requiring highly-available, enterprise-grade hardware, along with sufficient Flux collateral, to operate on the network and provide real, useful computing power to the network. Operating a FluxNode is also available to anyone with the required Flux and hardware, making the network decentralized both in who can run a node and the geographic location of the nodes. At the time of writing, there are over 1100 FluxNodes in operation across hund reds of operators and the globe.

FluxOS is the “brain” of the FluxNodes and the Flux Computational Network. It is an open-source MEVN stack built from scratch by the Flux Team which acts as a second layer operating system to complement the base Linux OS running on all FluxNodes. An operational network of decentralized computing power is one of the core modules to the Flux Ecosystem, providing the ability for Flux and 3rd party developers alike to run their applications on a fair-priced network with no single point-of-failure. Since FluxNodes are operated in a decentralized manner by individual Flux holders, and geographically spaced all over the world, developers can rest assured that their applications are accessible by users at all times and locations. Any hardened dockerized app can be deployed via FluxOS and the network currently hosting more than 30 dapps including blockchain infrastructure, social media, data oracles, websites, games, and file storage.

Flux Fusion – a DeFi bridge providing accessibility to major decentralized exchanges such as Uniswap and Pancakeswap.

Zelcore is the multi-asset crypto wallet and platform. It offers custody management of over 250 cryptocurrency assets, along with over 25,000 digital assets on the Ravencoin, NEO, and Ontology asset layers. Zelcore also offers built-in trading services of major centralized exchanges (Binance, Kraken, Bittrex) and quick-swap services (CoinSwitch, lnstaSwap, Changelly, Kyber, etc.). This allows users to mine, store, transact, and exchange a huge number of crypto assets within the same secure, easy-to-use application. Zelcore is available for Windows, MacOS, Linux, and mobile versions for iOS and Android. 

The platform utilizes a unique accounts system scheme based on a username and password combination, secured by salts and additional security features. The username/password scheme was chosen to provide convenience for the end user compared to other wallets that rely on impossible-to-remember combinations of random words or characters. These mnemonic setups are very secure but not convenient enough to act as the login for people who use their crypto wallets every day. To secure Zelcore’s username/password approach, additional layers of security are available including second-layer passphrases and biometrics, and a unique decentralized two-factor authentication system.

Flux development updates in 2023

Flux (FLUX) cryptocurrency has made significant advancements in 2023, focusing on the development of its blockchain technology and ecosystem. Here are the key developments:

• Introduction of Proof of Useful Work (PoUW) and FluxCore: Flux developed Proof of Useful Work (PoUW) and its client application, FluxCore, as a response to the limitations of Proof of Work technology. This development is aimed at maximizing the utility of computing resources in the network. PoUW allows the use of computational power for more productive activities in traditional industries, such as rendering and training machine-learning models, while supporting the network. FluxCore enables users to connect their machines to the network, utilizing less-used hardware in data bodies, homes, and businesses for computing tasks​​.

• Flux Web3 Cloud: The Flux Web3 cloud provides a solution for decentralized computing and blockchain-as-a-service. It offers an interoperable and decentralized development environment, contributing to the clarity of governance activities within the blockchain space​​.

• Flux Ecosystem Expansion and Partnerships: The Flux Foundation has actively worked on expanding the ecosystem through collaborations with various partners and developers. This includes efforts to promote the adoption and development of the Flux blockchain. Flux also maintains a global decentralized computing platform, supported by a vast network of nodes. As part of its ecosystem, Flux features a native POW cryptocurrency (FLUX), a decentralized computational Flux Network (FluxNodes), a Linux-based operating system (FluxOS), a digital asset platform (Zelcore), and the Flux blockchain for on-chain governance, economics, and interoperability with other blockchains​​.

• FLUX Token Utility: FLUX, the native cryptocurrency of the Flux ecosystem, serves multiple purposes. It’s used for purchasing resources, securing nodes, and fueling transactions on FluxOS. The FLUX token demonstrates democratic tokenomics, with a significant majority of the supply belonging to the users. The block reward in the Flux network is split equally between miners and masternode operators, further supporting the decentralized nature of the network​​.

These developments highlight Flux’s commitment to innovation and its role in advancing the Web3 space. Flux’s focus on leveraging computing power for practical purposes and its expanding global network underscore its growing significance in the decentralized computing and blockchain industry.

Official website: https://runonflux.io/

Best cryptocurrency wallet for Flux (FLUX)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Flux (FLUX)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).