How to Buy Flow (FLOW)

Want to jump straight to the answer? You can buy Flow on Coinbase.

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flow

Flow

$0.612374*

^*prices delayed up to 10 minutes

+3.00%

24H

Buy Flow

MOONBUST

7 votes

Non-fungible tokens (NFTs) have gained immense popularity in the cryptocurrency community due to their unique characteristics, primarily their ability to signify scarcity and provenance on the blockchain. Unlike conventional cryptocurrencies such as Bitcoin, where each coin is identical to another, NFTs represent one-of-a-kind digital assets. This makes them particularly appealing for artists and collectors. The meteoric rise of NFTs was highlighted by the impact of CryptoKitties in 2017, which caused significant congestion on the Ethereum network due to overwhelming demand. This experience prompted Dapper Labs, the developer of CryptoKitties, to proactively create Flow, a dedicated blockchain designed to enhance scalability and foster a thriving ecosystem for NFTs and similar decentralized applications (dApps). As a result, Dapper Labs not only addressed the congestion issue but also laid the groundwork for a new standard in the digital asset space.

Looking to add Flow to your portfolio? Discover how to buy Flow crypto with our simple guide, from selecting an exchange to making your first purchase.

How to Buy Flow (FLOW)

Does it seem too complicated to invest in Flow? All you need to do is follow these easy and quick steps.

1. Open an Online Account

Flow is available for trading on a few different trading platforms. Before you can start trading Flow you will need to sign up for an account on one of these platforms. Some of the best crypto exchanges offering the token are Coinbase, Binance and Crypto.com.

When you sign up for an account you will need to verify your identity before you purchase any cryptocurrencies. This is usually a painless process and entails providing your Social Security number, address and a picture of your driver’s license or another valid ID.

2. Fund Your Account

Once your account is verified, it’s time to deposit the funds you need. Funding options depend on the platform, which include bank transfer, credit card, debit card or cryptocurrency deposit.

To initiate a bank transfer, link your bank account. This process typically takes a few business days to complete. Alternatively, you can fund your account instantly with a credit card or debit card for immediate trading. You can also send another cryptocurrency to the exchange if you already have some to trade. Ensure that you follow the platform's specific instructions for each payment method to prevent delays. Once your funds are available, you may begin trading cryptocurrencies based on your investment strategy.

3. Purchase Flow (FLOW)

Now that your account is set up and funded, you can proceed with your purchase. Go to the trade section of your chosen platform and search for the crypto FLOW. Click the option to buy, set your price and make your purchase.

Please make sure to review the details before proceeding. Once confirmed, your FLOW tokens will be credited to your portfolio. You will receive a confirmation email following the transaction.

What Is Flow?

Flow is the native cryptocurrency of the blockchain sharing its name and it has more functionality than many other altcoins. It will eventually act as a governance token for a decentralized autonomous organization (DAO) to let users decide the future of the network.

Users secure the Flow network and process transactions by staking the crypto with validator nodes on the network. They earn interest and transaction fees based on their stake to incentivize network participation. This system is similar to the popular consensus mechanism, proof of stake.

The Flow blockchain is also split into multiple pieces and seems similar to the Ethereum 2.0 update, but it has a few key differences. Instead of sharding, Flow separates validator nodes vertically into four different roles. In a sharded blockchain, nodes will not participate in validating every transaction. Without further protections, this means attackers could hurt the network with control over a smaller percentage of nodes on the network. Ethereum plans to get around this by randomly assigning transactions to nodes to make such an attack too unpredictable to be possible. Flow wants to completely avoid this problem by ensuring all nodes help validate every transaction, even if each one only completes a quarter of the whole process. 

Flow has a wide range of uses beyond basic utility because decentralized application (dApp) developers can easily integrate the coin into their platforms. Games and any other kind of platform on the blockchain can use Flow to purchase in-game items, make peer-to-peer transfers, earn rewards and more. One of the most popular platforms on Flow right now is NBA Top Shot. You can spend Flow to buy packs of NFTs representing fully licensed clips of NBA games. Starting in 2021, the team behind CryptoKitties, the popular crypto-collectibles game, has made a move to transition from Ethereum to Flow blockchain.

Brief History of Flow

Dapper Labs, the team behind Flow, originates from Axiom Labs, a startup, venture capital firm and incubator rolled into one. CryptoKitties was developed in 2017 before Dapper Labs spun off into its own company in early 2018. The next year, Dapper Labs finally announced its new project, the Flow blockchain. In the same release, it touted an $11 million investment from the Silicon Valley venture capital firm, Andreessen Horowitz. Since then, Dapper Labs has amassed hundreds of millions of dollars in total to fund the NBA Top Shot platform and its other products. Even the legendary basketball player Michael Jordan invested, dead set on helping to expand the project.

Flow has seen many dramatic price shifts since its release. In January of 2022 it was trading a little under $9, and in June of 2022, the token had fallen all the way down to around $1—a stark contrast from its all-time high of $46.16. The token has not seen significant price increase since then. Currently FLOW is trading for around $0.5249 with a market capitalization of $803 million.

Where to Buy Flow (FLOW)

Consider these platforms for your FLOW crypto investment. Each platform provides unique features to facilitate your entry into the market. Evaluate your options based on your specific investment goals and preferences.

How to Store FLOW Safely

Security is a major concern for cryptocurrency investors due to the ease of hacks. While large exchanges like Binance, Crypto.com, and Coinbase use extensive security measures, it is often advisable for investors to move their cryptocurrencies to personal wallets, whether software or hardware wallet, to enhance safety. Each crypto wallet type has its own pros and cons, and many investors use a combination of both.

• Best hardware wallet: Ledger

Ledger is the leading hardware wallet brand known for its security in storing cryptocurrencies. They offer two main models: the Ledger Nano S, which is user-friendly for beginners, and the Ledger Nano X, which features a larger screen and Bluetooth for convenience. Both models use a secure chip to safely generate and store the wallet’s private key, ensuring that the user's crypto portfolio remains inaccessible to anyone, including Ledger itself.

• Best software wallet: Dapper

If you want to store Flow tokens, you can't use regular Ethereum wallets like Metamask or Coinbase Wallet. Instead, you must use Dapper Labs' wallet, which supports both the Flow blockchain and Ethereum. It allows funding through credit/debit cards and wire transfers, and connects to DApps like NBA Top Shot for purchases and collectibles storage.

Trade, Sell or Convert FLOW Tokens

Flow is a volatile asset and can be extremely sensitive to the ups and downs of the larger cryptocurrency market. This is certainly not unusual for relatively small market capitalization altcoins, but you should always know how to sell your tokens in case of drastic price swings. Luckily, it's incredibly simple to close your position. The first thing you have to do is send the tokens back to the exchange you purchased them on or another that supports Flow trading. After the tokens are in the exchange, find the trading pair you want to use and complete the trade.

Current Crypto Prices

The cryptocurrency market is highly volatile, with daily price changes, especially for smaller coins. Investors need real-time data to manage this dynamic environment. Here's a quick look at the price movements of the major cryptocurrencies today.

Is Flow a Good Investment?

Flow might be a good investment, but it’s certainly not without risk. Anyone who invested in it in January or June would be deep in the green. However, if you invested anywhere near the coin’s all-time high, you might be down over 98%. If you strongly believe in NFTs, the blockchain and dApps on it, purchasing Flow may be your best way to speculate on the success of the entire ecosystem.