How To Buy ForTube (FOR)?

A common question you often see on social media from crypto beginners is “Where can I buy ForTube?” 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 ForTube (FOR)

First, you will need to open an account on a cryptocurrency exchange that supports ForTube (FOR).
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 ForTube (FOR) 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 ForTube (FOR)

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 ForTube (FOR) or ForTube (FOR) trading pairs. Look for the section that will allow you to buy ForTube (FOR), and enter the amount of the cryptocurrency that you want to spend for ForTube (FOR) or the amount of fiat currency that you want to spend towards buying ForTube (FOR). The exchange will then calculate the equivalent amount of ForTube (FOR) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of ForTube (FOR) 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. 

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What Is ForTube (FOR)?

ForTube, previously known as the Force Protocol, describes itself as a suite of distributed crypto-finance service protocols that runs on an open-source blockchain. ForTube is a decentralized financial services platform that focuses on the crypto bond market. The platform seeks to make financial services inclusive and provide global access to all through ForTube cryptocurrency bonds. Its main aim is to offer crypto-finance solutions to developers through its software development kit (SDK) and application programming interfaces (APIs) for decentralized application (DApp) development.

Cryptocurrency bonds are a new bond type where crypto tokens are used to pay the bond. It brings two advantages to the virtual currency market; it avails financing in the digital currency market, and it begets products that introduce fixed incomes in the industry while meeting investor needs. Furthermore, cryptocurrency bonds are based on distributed ledger technology (DLT), which eliminates the need to seek regulatory greenlights for their issuance. The system is made up of an issuer, investor, and rater. The issuer issues the bond by first demonstrating repayment capabilities through collateral.

The platform offers solutions for cross-platform asset transactions, cross-chain communications, crypto-asset-backed stablecoin insurance, token board insurance, and on-chain payments. The Force Protocol project is a decentralized protocol layer that is developed and managed by the Force Protocol Foundation Ltd.

ForTube launched its decentralized finance (DeFi) service on the Binance Smart Chain (BSC) in September 2020.

ForTube offers many advantages, including flexible support of globally popular cryptocurrencies that provide higher yield combinations and an upgraded algorithm and ledger structure that significantly reduces gas costs. It also has a robust technical framework with more secure smart contracts.

What is the FORtube (FOR) token?

FOR is ForTube’s native token. It is used as a governance token on the network. Furthermore, FOR holders can participate in voting on ForTube’s governance proposals and participate in the QIAN ecosystem on things like stability adjustment and global debt auction.

ForTube’s Key Components

• Bond Credit Rating
  The platform uses a decentralized registration process to issue bonds with the issuer’s information automatically verified by the network. In addition, credit rating on the platform always takes a bond’s value into consideration. The rating is geared towards providing a risk reference for investors. Rating involves both the ForTube community and the professional views with community rating enabled by holding the platform’s native currency, FOR.
• BondToken
  After being reviewed, the bond is issued in the form of a BondToken. The token is developed using Ethereum’s ERC-20 standards. Moreover, the token acts as a contract having all the agreements embedded. The token represents debt obligation (the holder is the creditor) and is not divisible. Each BondToken has a value of $100.
• Bond liquidation
  In case the pledged amount loses value, ForTube allows for liquidation to mitigate losses. Apart from an asset sinking in value, liquidation can also happen if the issuer fails to repay within the agreed timeline. The liquidation process takes into account the current debt, target collateralization rate, and the current collateralization rate. The discount rate, collateral price, and the amount before liquidation form part of the liquidation equation.

Note that ForTube uses a liquidation that allows the exchange of discounted pledges through its discounted liquidation model. The ForTube liquidation process happens in two scenarios.

In the first one, the debtor is reminded of an impending liquidation when the collateral’s value falls to 80 percent. When it gets to 70 percent, liquidation is ignited. The second situation is when the liquidation is due to a failure in repayment. When the bond expires without full repayment from the debtor, ForTube triggers the liquidation process. The amount liquidated must fully cover the debt and service fees. And liquidated collateral still belongs to the debtor.

Who Are the Founders of ForTube?

ForTube was originally developed and managed by the Force Protocol Foundation Ltd., founded by Pete Mardell who also works as the company’s chief executive officer. Mardell graduated from Barnfield College in 2004.

What Makes ForTube Unique?

ForTube Yield Farming is a DeFi bank that was launched by ForTube and is based on the Force Protocol. ForTube supports the depositing and borrowing of cryptoassets. Users can deposit, withdraw, borrow, and repay at any time. The interest rates are automatically adjusted by the platform’s algorithms.

This platform is permissionless, decentralized and fully trustless. It is transparent due to the fact that all of the transactions are publicly auditable. Additionally, it is fully programmable, allowing developers to code business logic into low-cost and interoperable financial services. 

ForTube development updates in 2023

ForTube, a decentralized exchange (DEX) platform built on the Binance Smart Chain (BSC), has made notable advancements in 2023. Here’s a summary of the key developments:

• Expansion of Trading Services: ForTube continues to offer a wide range of trading services, including token trading, staking, liquidity provision, and yield farming. The platform supports various Binance Smart Chain tokens, focusing on providing a user-friendly interface suitable for both new and experienced traders​​.

• Enhanced Security Features: Prioritizing the security of user assets, ForTube implements a multi-layer security architecture. This includes the use of hot and cold wallets, encrypted storage, and two-factor authentication. Additionally, the platform employs a smart contract system to ensure the safety of funds and to prevent hacking or theft​​.

• Focus on Liquidity and Affordability: ForTube emphasizes liquidity to provide a smooth trading experience. The platform offers deep liquidity pools and attractive incentives for liquidity providers. Furthermore, ForTube aims to be affordable for its users with low trading fees and discounts for those who pay their trading fees using FOR tokens​​.

• Community and Roadmap: ForTube has a growing community of users and an active social media presence. The development team has outlined a clear roadmap for the platform, including new features, expansion into new markets, and the adoption of new technologies​​​​.

• Governance Structure and Tokenomics: The governance structure of ForTube allows FOR token holders to participate in decision-making processes, such as voting on changes to the platform. The FOR token is used for staking and governance activities. The tokenomics of ForTube involve a circulating supply of 639,520,000 FOR tokens with a max supply of 1,000,000,000​​.

• Educational Initiatives: ForTube has established an Education Academy for users to understand the platform and the broader DeFi ecosystem better. This initiative is aimed at spreading knowledge about ForTube products and providing insights into DeFi​​.

• Risk Control Framework: ForTube offers a comprehensive risk control framework, including financial, smart contract, and oracle security. This framework ensures the protection of users from various types of risks associated with DeFi platforms​​.

These updates demonstrate ForTube’s commitment to advancing its platform, focusing on user experience, security, and comprehensive DeFi services. As the platform continues to evolve, it aims to solidify its position in the DeFi and cryptocurrency markets.

Official website: https://for.tube/navigation

Best cryptocurrency wallet for ForTube (FOR)

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 ForTube (FOR)?

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).