How to Buy Frax (FRAX): A Step-by-Step Guide

Introduction

When purchasing Frax, there are several factors to consider, including choosing an exchange to purchase it from and transaction method. Fortunately, we've compiled a bunch of reputable exchanges to help you with the process.

Step-by-Step Guide

1. Choose an Exchange
Research and select a cryptocurrency exchange that operates in the in your country and supports Frax trading. Consider factors such as fees, security, and user reviews.
Platform Coin Price
Uphold Frax (FRAX) 1
FMFW.io Frax (FRAX) 0.5
Gate.io Frax (FRAX) 0.86
See all 5 prices
2. Create an Account
Register on the exchange's website or mobile app, providing personal information and identity verification documents.
Platform Coin Price
Uphold Frax (FRAX) 1
FMFW.io Frax (FRAX) 0.5
Gate.io Frax (FRAX) 0.86
See all 5 prices
3. Fund Your Account
Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card.
4. Navigate to the Frax Market
Once your account is funded, search for "Frax" (FRAX) in the exchange's marketplace.
5. Choose a Transaction Amount
Enter the desired amount of Frax you wish to purchase.
6. Confirm Purchase
Preview the Transaction Details and Confirm Your Purchase by clicking the "Buy FRAX" or equivalent button.
7. Complete Transaction
Your Frax purchase will be processed and deposited into your exchange wallet within minutes.
8. Transfer to a Hardware Wallet
It's always best to keep your crypto in a hardware wallet for security reasons. We always recommend Wirex or Trezor.

Platform	Coin	Price
Uphold	Frax (FRAX)	1
FMFW.io	Frax (FRAX)	0.5
Gate.io	Frax (FRAX)	0.86

Platform	Coin	Price
Uphold	Frax (FRAX)	1
FMFW.io	Frax (FRAX)	0.5
Gate.io	Frax (FRAX)	0.86

What to be Aware of

When purchasing Frax, it's important to choose a reputable exchange that is easy to use, and has reasonable fees. Once you've done this, always transfer your crypto a hardware wallet. That way, no matter what happens to that exchange, your crypto is safe.

Latest Movements

Frax (FRAX) is currently priced at $1 with a 24-hour trading volume of $24.88M. In the last 24 hours, Frax has experienced a decrease of -0.05%. The market cap of Frax stands at $646.08M, with 649.43M FRAX in circulation. For those looking to buy or trade Frax, Uphold offers avenues to do so securely and efficiently

Market cap: $646.08M
24h volume: $24.88M
Circulating supply: 649.43M FRAX

See latest information

Frequently Asked Questions About Buying Frax (FRAX)

What is Legacy Frax Dollar (frax) and how does it differ from other stablecoins?: Legacy Frax Dollar (frax) is a stablecoin designed to maintain a near-1:1 value with the US dollar. While many stablecoins rely solely on collateral or algorithms, frax emphasizes a hybrid approach that can involve collateral reserves and algorithmic mechanisms to help stabilize its price. It trades around $1.00, with small daily price movements such as the recent increase of about 0.012% in 24 hours. Understanding its stabilizing framework—reserves, minting/burning dynamics, and governance—helps users assess its reliability for payments, remittances, and on-chain liquidity.
How can I buy, store, and use frax in DeFi workflows?: To acquire frax, you typically buy it on supported exchanges or decentralized pools, then transfer it to a wallet that supports ERC-20 tokens. Store frax in wallets with stablecoin support, such as hardware wallets or reputable software wallets. In DeFi, frax can be used for lending, borrowing, and liquidity provision. When participating in pools, consider impermanent loss risks and pool rewards. Always verify contract addresses to avoid scams and ensure you’re interacting with the correct frax token on the intended network, especially since multi-chain deployments are common for stablecoins.
What are the key metrics to watch for frax, such as price stability and supply changes?: Key metrics include the price (target near $1.00) and 24-hour price change, circulating supply, and market capitalization. For frax, the current price around $0.994 and a small 24-hour increase indicate stable market activity. Monitor the circulating supply (roughly 276 million frax) as it can influence liquidity and price stability. Also track on-chain reserves and governance updates, since changes in collateral or mint/burn rules can impact stability. Keeping an eye on exchange liquidity and trading volume helps gauge how easily you can enter or exit positions.
Is frax suitable for cross-border payments and savings, and what are the risks?: Yes, frax can be used for cross-border payments and as a stable savings asset due to its near-$1 value and relatively fast settlement on compatible networks. However, risks include protocol changes, reserve mismanagement, or liquidity crunches that could temporarily affect price stability. Regulatory developments and custody risks also play a role. Before using frax for payments or savings, review the latest governance proposals, reserve disclosures, and platform reliability. Diversifying across stablecoins or using over-collateralized assets can mitigate some risk.
What should a new user know about the security and auditing of frax deployments?: Security considerations include using official contracts and verified token addresses, enabling hardware wallets for storage, and keeping software up to date. Check whether frax deployments have undergone third-party audits and how the reserves are managed and disclosed. Read recent audit reports, reserve composition, and any treasury or governance updates. For active users, enable transaction alerts and consider using reputable DeFi interfaces that implement robust input validation and anti-phishing protections. Staying informed through official channels helps reduce exposure to scams or faulty implementations.