How to Buy Gyroscope Crypto (GYFI)

What is Gyroscope GYFI?

According to Coingecko, Gyroscope is : "Gyroscope is a decentralized protocol which allows the issuance of a fully-backed stablecoin with algorithmic price bounding and all-weather reserves: - A fully backed stablecoin: the Gyroscope stablecoin aims at a long-term reserve ratio of 100%, where every unit of stablecoin is backed by 1 USD worth of collateral. - An all-weather reserve: the reserve is a basket of protocol-controlled assets that jointly collateralize the issued stablecoin. Initially most assets will be other stablecoins. The reserve aims to diversify all risks in DeFi to the greatest extent possible. It considers more than just price risk, but also censorship, regulatory, counterparty, oracle and governance risks. - Algorithmic price bounding: Prices for minting and redeeming stablecoins are set algorithmically to balance the goal of maintaining a tight peg with the goal of long-term viability of the project in the face of short-term crises. "

Where can I buy GYFI Crypto?

You can buy Gyroscope on Uniswap.

Why should you buy Gyroscope?

Gyroscope is really one of a kind project. The roadmap is incredibly promising and if the dev team can keep up with the with it, it's only a matter of time for the market to catch up. It's a very risky play but one that can yield amazing profits. Do you own diligence and research the project further so you can make your own decision.

How to Buy Gyroscope Crypto?

Step 1 - Setting up a Metamask Wallet

Metamask is by far the most used walled in the world of Ethereum. Whenever you want to buy and sell cryptocurrencies or even use blockchain apps that run on the Ethereum Network, Metamask will be your best friend. Setting up the wallet is also very simple and easy.

Head over to metamask.io and click Download. You'll need to use Google Chrome, Brave Browser, Firefox, or Microsoft Edge for this to work. So make sure you are using one of these four browsers. Now at the end of the page, click on the browser you're using and install the extension.

You are now the Welcome Page of Metamask. Click on 'Get Started.' Now click on 'Create a Wallet.' Choose a strong password for your Metamask wallet and continue.

Very Important Part! Keeping your backup phrase safe is the difference between having millions in your account or be that guy on the landfill looking for his old hard drive.

Click on reveal your backup phrase and write every word down on paper. Make sure you don't save your backup phrase on anything digital. This is for your security. After you wrote down your backup phrase, you'll be asked to confirm it. Click on every word in the correct order, and you should be done.

Step 2 - Buy Ethereum on Simpleswap

Simpleswap is the easiest way to buy crypto today. Free from registrations, KYC and third-party custody. With Simpleswap we can buy ETH and receive it directly on our on-chain Metamask wallet, skipping most of the steps we'd have to take through a traditional exchange.

Click here to access Simpleswap

Just click the Buy/Sell Crypto tab, insert the USD amount you want to trade for ETH, and click "Exchange", just like this:

Now all you have to do is click the Metamask fox logo to directly copy and paste your Metamask Ethereum address. It should add it automatically.

You can now choose between Google Pay or card to complete the payment:

Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in Metamask.

Step 3 - Buy Gyroscope on Uniswap with ETH

Buy GYFI on Uniswap with ETH

Uniswap is currently the number one Decentralized Exchanged in the world, and it's simply the best place to buy cryptocurrencies that aren't available on sites like Coinbase or Binance.

Before we head over to Uniswap, we need to prepare your Metamask Wallet to receive Gyroscope. Open Metamask, scroll all the way down, and click here:

Select Custom Token and paste this token contract address there:

0x70c4430f9d98b4184a4ef3e44ce10c320a8b7383

The rest should autofill, and you need to click next and then add tokens. Your account is now ready to receive Gyroscope (GYFI).

You can check the price and confirm the correct token address of Gyroscope on Coingecko.

Let's buy some Gyroscope!

Go to Uniswap. On the upper right corner, click on Connect Wallet and select Metamask. A confirmation popup should open on Metamask (click on the "little fox logo" if you don't see it). Now you need to accept, connect, and your wallet should be connected to Uniswap.

Select a token and paste the Token contract address: 0x70c4430f9d98b4184a4ef3e44ce10c320a8b7383

Click Import and accept the terms.

Now you have to select the amount of ETH you want to trade for GYFI. After you confirm it, another popup will appear from the Metamask extension and you should approve the transaction.

Wait a few minutes, and your GYFI should appear on your Metamask Wallet.

Congratulations! You are now a proud Investor of Gyroscope!

In case your transactions keep on failing, adjust your slippage tolerance. To do that, click on Uniswap's gear icon, and put 5% here:

Adjust slippage on uniswap