How to Buy FUEL (Etherparty) Token from Exchanges?
EtherParty is a product of The Vanbex Group, a member of the Enterprise Ethereum Alliance(EEA). Want to buy FUEL (Etherparty) for long-term profits? Here goes the step-by-step guide on how to buy FUEL token and where to buy FUEL token.
Update: Etherparty ICO has completed in 2017.
Disclaimer: This article does not endorse or recommend investing in cryptocurrencies. This article should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only.
What Is Etherparty?
Etherparty is a platform that removes the complexity and management of creating and executing smart contracts. It is, in fact, inspired by Counterparty, a meta-protocol on Bitcoin that made it easier to issue tokens, and had/has some other features such as a distributed exchange.
In other words, Etherparty is a P2P and Enterprise platform that will enable anyone (with zero knowledge) to write smart contracts across multiple blockchains. The platform which uses FUEL tokens allows users to sign up, pay with these tokens (ERC20) and pick out a contract from a library to execute.
Presently, the UI/UX for creating smart contracts is not good. Etherparty aims to solve that problem.
Smart contracts can be difficult to understand because they reflect the complicated nature of contract law. In the past, service-oriented contracts had to run through a centralized service like a middleman or company. This poses a threat to the security and freedom of the clients because it creates a single target for potential attacks.
When Ethereum came into the picture, it solves that problem with smart contracts. Smart contracts allow for a number of possibilities, including provable, hedging coins, and even coins within a coin. However, it brings more complication to the development side of the things.
The complexity of programming languages and the cost of the process hinder many brilliant ideas to be materialized.
The value proposition of providing pre-built smart contract templates for many general use-cases which no-technical users can use to deploy on Ethereum is one of the best DApp platforms that is badly needed in the Ethereum ecosystem.
Hence, Etherparty is introduced to provide a cloud based platform for Ethereum smart contracts. The goal is to make smart contracts as easy and accessible as possible on any blockchain like Wix did for websites and LegalZoom did for legal documentation.
The biggest help of this platform as promised is that these templates will be audited and also cost less gas in comparison to stand alone smart contracts as they are derived from a master contract template.
With Etherparty, you are able to create decentralized autonomous applications with a few lines of code. With Etherparty, you will not need to install anything else like Geth, Meteor, or Mist to run Smart Contract and it works directly with the Ethereum network so there is no delay for software to sync to quickly execute a contract.
Why Etherparty Has Huge Potential?
We, in our opinion Etherparty will be big and it is going to stay. There isn’t much strong ICOs in the market and this is a pretty solid one that we believe it is worth holding on for long-term. The product of a company which is part of the Enterprise Ethereum Alliance (The Vanbex Group).
Vanbex Group specializes in consulting, communications and development for blockchain businesses. Their services include Consulting and Strategy, Marketing and Communications, Blockchain and Smart Contract Technology and ICO Fundraising and Investment Marketing.
The Vanbex Group was established in 2013 as a strategic communications organization to better tell the story of the companies in the blockchain industry, and has since evolved into a professional services firm that specializes in all aspects of the Blockchain industry.
As you can see, many ICOs are launched without a proper product in place. Conversely, Etherparty is live now and can be demoed on the Ropsten testnet. The current implementation allows users to create crowdfunding contracts (like the kind behind a token sale) and places baseball sports bets. They hope to expand the library of tested smart contract templates, offering a la cart contracting services similar to LegalZoom, with applications in insurance, supply chain management, digital identity, and more.
The other reason why I believe in Etherparty is it shares the same view as those who see the future of smart contracts. Yes, smart contracts will change the world. The concept of smart contracts has gained a lot of attention in recent years. A “world computer” like the public Ethereum network, or a computing environment that is trusted and verifiable between parties in a smaller group like a consortium blockchain, is a tremendously powerful thing.
However, not every one of us knows exactly how to deal with smart contracts. That’s why Etherparty plays an important role here to allow non-technical people to create smart contracts. Several ICO’s products have essentially been graphically-friendly templates that allow the user to generate smart contracts, and their smart contracts generally require some interaction with the sub-network’s token system.
Whether you like it or not, it is going to stay. Why? Their work through Vanbex puts them deeply in touch with many parts of the industry. We think they will develop an initial user base quickly and that the company will thrive.
Where to Buy Etherparty (FUEL)?
At the time of writing, FUEL is available on Binance, HitBTC, ACX, and EtherDelta
If you are new and would like to know how to purchase some FUEL, it is not that straightforward to just deposit your fiat currencies and buy them on these platforms.
Etherparty (FUEL) now is available for trading on Binance, which can be traded with BTC and ETH.
Binance is the world’s leading bitcoin exchange. It offers platforms for trading and for providing and receiving financing. It was the first exchange in the world to implement real-time proof-of-reserves via segregated customer wallets and boasts some of the best security features in the industry.
However, you can send bitcoin to the above-mentioned exchange accounts and buy FUEL with BTC.
If you are totally new in this, please refer to the following steps to get your first FUEL coin.
How to Buy Etherparty (FUEL)?
Step 1: Create a Coinbase Account to Get bitcoin
There are many ways to buy bitcoin. Perhaps the easiest way is through Coinbase. Go to the Coinbase Signup Page and fill in your first name, last name, email and choose a password.
The registration is quite straightforward. Once, you hit “Create Account”, then you just need to verify your identity (eg: pictures of your driver’s license, etc). Once your account is created and verified, you’ll need to add a funding source like a bank account and/or a debit card. Once this is set up, you can buy some bitcoin.
Many people have the wrong impression that they must buy one full (unit) of BTC. In fact, you can buy even a small fraction of BTC (e.g. 0.05).
The reason I encourage my readers to buy BTC from Coinbase because you will get $10 free BTC once you trade your first $100 through Coinbase.
If you are buying bitcoin via credit card, Coinbase will post two small charges on your credit cards. All you need to do is to verify these charges through your credit card’s recent transaction history and confirm them on Coinbase dashboard.
Step 2: Create a Binance Account
Create an account with Binance by going to their registration page.
The registration process in Binance is super fast & easy. Less can be said about interpreting their dashboard, but it’s not the worst. Once, you’re approved here, we’ll get to the good stuff.
Step 3: Transfer BTC to Binance
Go to Binance “Funds” and “Deposit” from on the top right menu.
Here, you’ll see a list of currencies and you need for “Bitcoin.” When you find Bitcoin, click the “Deposit” icon to open a lightbox in which you will generate a Bitcoin Deposit address. Once you’ve done this, copy that long string of letters & number.
Now, go back to Coinbase. Here, you’ll navigate to the Send/Request tab. Now paste the Bitcoin deposit address you got from Binance into the “Destination” box and type in the amount of Bitcoin you want to send. You can opt to either move all of your Bitcoin or some fraction.
Just one click and your funds should be on their way to Binance. It will take a bit of time, perhaps 15 minutes or more, for your BTC transfer to complete.
Step 4: Trade Bitcoin for FUEL Token on Binance
To trade your BTC for FUEL :
- Check the price of FUEL in real time (1-minute), and when you are happy with the price, say 0.00001126 (FUEL/BTC) as shown in the below figure.
- Click the “Limit” and change to “Market”. This means you are calling the platform to generate the latest bid price.
- Then, key in the number of FUEL you want to buy. In this example, we are buying 100,000 FUEL in the transaction.
- Click “Buy FUEL”.
You just exchanged Bitcoin for FUEL. Be aware that there often isn’t much FUEL for sale at the very lowest price, so you may need to repeat steps 1-3 a few times until all your Bitcoin is exchanged.
You then can check your wallet again and see the amount of FUEL token you have just purchased.