Bonfida is a decentralized and no-custody exchange. This project was based on Serum platform, which is built using the Solana blockchain. This is also one of the advantages that a DEX has over a CEX, which is a centralized exchange. It offers a wide range of trading products based on the Solana order book. Solana provides for a faster speed of cryptocurrency transactions without the costly gas fees faced by people who use other exchange platforms. 

FIDA is a token in the Bonfida ecosystem. Coin holders get access to the VIP API and rare Solible markets in addition to the crypto exchange delivered by Bonfida. This token is also used for rewards and staking. 

Moreover, FIDA token holders can help shape the future of this project as this is a governance token. This page offers valuable Bonfida statistics, including the quarterly closing price of FIDA, market cap, as well as FIDA price index and the current price of Bonfida expressed in USD, BTC, and ETH. 

What are Bonfida’s key features and how does it work?

The primary function of Bonfida is enabling users to make fast coin and token swaps for a fraction of a price they would otherwise pay. Solible, an NFT exchange powered by a fully chained order book, is also a product of Bonfida. It makes it possible to have access to a real-time auction house as if the user was trading on a regular market. This project also has a great API system and a wallet.

Its goal is to create the best possible experience with Serum and show the users the true potential of this protocol. With the help of Serum, the plan to put into action the entire financial ecosystem that already present on Solana. 

Bonfida aims to remain the top choice of a graphical user interface for Serum and bring the CEX trading experience on-chain. TradingView data, informative charts, and market orders were brought to Serum by this project. Bonfida also provides valuable analytics and information about activity on Serum.  

What makes Bonfida noteworthy?

Bonfida is one of the best decentralized platforms for exchanging cryptocurrency built on the Serum platform and its market price is gradually growing. The advantage DEX has over a CEX is that in the first case, you have full control of your funds. In case anything happens, your funds are safe on your wallet.

As it turns out, the Solana blockchain used by the Bonfida is currently one of the fastest and strongest performing blockchains in the world. With a processing power that allows completing more than 50 thousand transactions every single second, users no longer have to wait as much to settle a transaction.

Another factor that makes Bonfida noteworthy is that even the largest market makers in the cryptocurrency world have shown interest in its application programming interface and started using Bonfida. Every week the number of API users is quickly increasing. 

Where can you buy Bonfida?

Most crypto exchanges now have Bonfida token listed among other cryptocurrencies. Similarly to many tokens, you would need to first have another cryptocurrency to exchange for the FIDA token. A list of exchanges that offer FIDA pairs is located under the Markets tab. You can choose a pair you want and go directly to the exchange that lists it to buy the token. Make sure to compare FIDA price on different exchanges as the difference can be significant.