What is FUSE Token and Why Hold it?

Fuse Token

Few networks out there are so invested in democratizing crypto payments as Fuse. Its native token is the fuel that powers the Fuse blockchain and its wide range of features.

But what are the benefits of holding this cryptocurrency in the long run, and what is the network up to? We’ll cover all this and more in this article, so keep reading to learn more about the FUSE tokens.

What is the FUSE Token?

The FUSE token is the native currency of the Fuse network. FUSE is a cryptocurrency, so it’s stored and exchanged on a distributed ledger that enables peer-to-peer transactions without any third-party involvement.

In this case, tokens are secured on the Fuse blockchain – a side chain of Ethereum – and benefit from low-cost transaction fees and over-the-average speed and security.

What can you do with FUSE?

As a utility token, FUSE was conceived to serve specific functions within the Fuse ecosystem, such as paying transaction fees.

All decentralized applications (dApps) and non-fungible tokens (NFTs) projects on the blockchain also allow you to use FUSE as payment for its services and products.

Another way to use your FUSE tokens and earn a passive income is by staking. Whether you keep your tokens in MetaMask, a Coinbase wallet, or others, the process is quite simple and can be followed through a step-by-step guide.

Staking FUSE may earn you up to 14% per year and grants you access to vote on network governance (using FUSE) without any need for technical knowledge.

However, if you are on the technical side and want to have a more active role in the future of Fuse, you can stake a minimum of 100k FUSE to become a validator. Being a validator also grants you some benefits, like earning network fees in exchange for your contribution to maintaining the network’s transactions moving.

What is the FUSE token worth?

The price of the FUSE token at the time of writing was around $0.067, having reached its all-time high in January 2022 at $2.13. The all-time low was in March 2020, when it reached $0.004. You can track the token’s real-time price on CoinGecko and CoinMarketCap.

Nevertheless, as with any crypto, a token must also be evaluated by the project’s leadership, team experience, and community engagement. In that sense, there’s plenty of space for speculation.

How to get yourself some FUSE tokens

If you are new to crypto, before being able to buy FUSE, you’ll need to set up a blockchain wallet. MetaMask and Fuse Cash are recommended.

Then, you can head to a centralized (CEX) or decentralized exchange (DEX) such as Huobi Global and Uniswap, where you can swap cryptocurrencies for FUSE. You can explore all exchanges where you can swap and trade FUSE here.

Some of the best DeFi dApps where you can buy FUSE within our network are:

Since Fuse is EVM-compatible, wrapped versions of Fuse on other blockchains, such as Ethereum and Polygon, are available on some exchanges. So make sure you are trading within the correct chain when using Fuse’s fast and cheap transactions.

What is the Fuse Dollar?

To facilitate US currency trading and user experience of Fuse-backed dapps, the network community created a decentralized stablecoin pegged to the US Dollar.

The Fuse Dollar (fUSD) is governed by a decentralized autonomous organization (DAO) that decides which fees and collateral are applied. It’s only available on Voltage Finance and a few other exchanges.

The future of the FUSE token and its ecosystem

Fuse is still in its early stages, but there’s no denying its potential for onboarding businesses to permissionless financial transactions – an evolution of what Paypal did at the beginning of the millennium.

As the project continues to build partnerships and expand its influence across the DeFi space, we expect to see more dApps built on the Fuse blockchain. As the network expands, the FUSE token will likely rise in price.

Doing your research and keeping updated with Fuse’s latest announcements is essential to managing your portfolio and keeping an eye on opportunities.

If you want to support this project, join the community and get FUSE tokens

Learn more about Fuse with further reading.

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