Crypto

XFT Crypto: The Future of Private Decentralized Finance

XFT is the native token of Offshift, a project that aims to create a clear separation between the standard blockchain transactions and the new private blockchain system that protects users’ privacy. Offshift is pioneering the concept of Private Decentralized Finance (PriFi), which combines the benefits of decentralized finance (DeFi) and privacy technologies. In this blog post, we will explore what XFT crypto is, how it works, and how you can buy it.

What is XFT Crypto?

XFT is an ERC-20 token that runs on the Ethereum network. It was launched in 2019 as part of the Offshift project, which was founded by Arsen Torosian, a serial entrepreneur and crypto enthusiast. XFT has a total supply of 40.4 billion tokens, of which 61% are allocated to DEX liquidity, 29% to unity, and 10% to CEX.

XFT serves as the utility token of the Offshift ecosystem, which consists of three main components: the Offshift app, the Offshift card, and the Offshift exchange. The Offshift app is a mobile application that allows users to manage their crypto and fiat balances, trade various cryptocurrencies on different exchanges with one app and a single KYC process, send and receive crypto or fiat to anyone in the world for free, and access exclusive features and rewards. The Offshift card is a physical or virtual Mastercard that can be used to withdraw fiat from ATMs or spend crypto or fiat online or offline. The Offshift card also offers cashback rewards, no annual fees, no delivery charges, and instant notifications. The Offshift exchange is a proprietary platform that connects multiple exchanges and provides users with the best prices and liquidity for their trades.

XFT is used for various purposes within the Offshift ecosystem, such as:

  • Fees: Users can pay lower fees for trading, withdrawing, or spending by using XFT instead of other currencies.
  • Rewards: Users can earn XFT rewards by staking their tokens on the app, referring new users, or participating in promotions and events.
  • Governance: Users can vote on important decisions regarding the Offshift project by using their XFT tokens as voting power.
  • Access: Users can access premium features and services on the app or the card by holding a certain amount of XFT tokens.

How does XFT Crypto work?

XFT crypto works by leveraging the power of blockchain technology and smart contracts to enable fast, secure, and transparent transactions between crypto and fiat currencies. XFT also works by integrating with various partners and platforms to provide users with a seamless and convenient experience.

Some of the features and benefits of XFT crypto are:

  • Security: XFT uses multi-signature cold storage to store all the assets in the Offshift ecosystem, ensuring that they are safe from hackers or theft. Cold storage is an offline wallet that is not connected to the internet and is immune to cyberattacks.
  • Speed: XFT uses smart contracts to execute transactions instantly and automatically, without any intermediaries or delays. Smart contracts are self-executing agreements that are coded on the blockchain and are triggered by predefined conditions.
  • Simplicity: XFT uses one app and one card to manage all the crypto and fiat assets in the Offshift ecosystem, eliminating the need for multiple accounts, wallets, cards, or exchanges. Users can also use one KYC process to verify their identity and access all the services on the app or the card.
  • Savings: XFT uses its own exchange to provide users with the best prices and liquidity for their trades, saving them from paying high fees or slippage on other platforms. Users can also save money by using XFT to pay lower fees or earn rewards on the app or the card.

How to buy XFT Crypto?

If you are interested in buying XFT crypto, you will need to follow these steps:

  • Step 1: Get an Ethereum wallet. You will need an Ethereum wallet to store your XFT tokens. You can choose from various options such as MetaMask, Trust Wallet, or Coinbase Wallet. Make sure you have some ETH in your wallet to pay for gas fees.
  • Step 2: Go to Uniswap. Uniswap is a decentralized exchange that allows you to swap any ERC-20 token for another. You can access Uniswap through your web browser or your Ethereum wallet app. You will need to connect your wallet to Uniswap and approve the transaction.
  • Step 3: Swap ETH for XFT. On Uniswap, you will need to select ETH as the input token and XFT as the output token. You can use this link to access the XFT/ETH pair directly. You will need to enter the amount of ETH you want to swap and click on “Swap”. You will see the amount of XFT you will receive and the gas fee you will pay. Confirm the transaction and wait for it to be processed.
  • Step 4: Check your balance. Once the transaction is completed, you will see your XFT balance in your wallet. You can also check it on Etherscan by entering your wallet address or transaction hash.

Conclusion

XFT crypto is the native token of Offshift, a project that aims to create a clear separation between the standard blockchain transactions and the new private blockchain system that protects users’ privacy. Offshift is pioneering the concept of Private Decentralized Finance (PriFi), which combines the benefits of decentralized finance (DeFi) and privacy technologies.

XFT serves as the utility token of the Offshift ecosystem, which consists of three main components: the Offshift app, the Offshift card, and the Offshift exchange. XFT is used for various purposes such as fees, rewards, governance, and access within the Offshift ecosystem.

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