As the crypto space leans deeper into AI, Web3, and decentralized infrastructure, Akash Network is steadily making a name for itself. It offers a cheaper, permissionless alternative to traditional cloud providers, and if that sounds interesting, it’s probably time to look into its native token, $AKT.
This guide will show you exactly how to buy Akash Network tokens on BYDFi, along with what to expect during the process, the fees you’ll run into, and what to do after the purchase.
What is Akash Network?
Akash is a decentralized cloud computing network. Unlike centralized providers, it connects people who need computing power with those who have extra resources to share, kind of like a Web3 version of Airbnb for cloud services.
It runs on Cosmos using a Delegated Proof-of-Stake mechanism, where validators help secure the network and get rewarded with $AKT. Regular users can also earn by staking their tokens or using them to pay for services on the network’s marketplace. With developers building everything from AI tools to DeFi protocols on it, Akash has quietly become one of the more practical blockchain ecosystems out there.
How to Buy Akash Network Tokens ($AKT) on BYDFi
For this walkthrough, we’ll use BYDFi, a user-friendly exchange with decent liquidity, straightforward UI, and support for $AKT. You don’t need to complete full KYC for basic trading, which is great if you’re looking for speed and simplicity.
What About the Fees?
This is where we’ll use the only bullet section in this guide, because it just makes more sense when talking numbers:
- Standard trading fee on BYDFi is 0.10% for both makers and takers.
- There’s no hidden markup, what you see on the order book is what you get.
- Occasionally, BYDFi runs promotions or offers fee discounts, but for now, you should assume the flat 0.10%.
Where to Store $AKT After Purchase
If you’re holding for the short term, keeping your tokens on BYDFi is okay, just don’t leave large amounts parked there forever. For more control and safety, transfer your $AKT to a self-custodial wallet that supports Cosmos-based tokens.
You can then delegate your tokens to a validator and start earning staking rewards. It’s a passive process, you don’t need to run any node or deal with infrastructure. Just pick a validator with a good reputation and let your tokens do the work.
Bottom Line
Whether you’re in it for staking rewards, long-term value, or using Akash’s decentralized cloud services, learning how to buy Akash Network tokens is a smart move if you’re exploring utility-based assets. BYDFi makes the process smooth and uncomplicated — just make sure you understand where and how you plan to use or store your $AKT once you’ve got it.
FAQs
1. Is BYDFi a good exchange to buy Akash Network tokens?
Yes, BYDFi is a reliable platform for buying $AKT. It offers competitive fees, supports multiple order types, and doesn’t require full KYC for basic trades.
2. Do I need to complete KYC on BYDFi to buy AKT?
For small trades and deposits, KYC is not mandatory on BYDFi. However, to access higher withdrawal limits or certain features, you may need to verify your identity.
3. Can I stake AKT directly from BYDFi?
No, BYDFi does not support native staking for $AKT. You’ll need to transfer your tokens to a Cosmos-compatible wallet and delegate them to a validator.
4. What wallet should I use to store Akash tokens?
You can store $AKT in Keplr or Cosmostation wallets, both of which support Cosmos-based assets and offer staking features directly within the interface.
5. What’s the minimum amount of AKT I can buy on BYDFi?
Minimum order sizes may vary slightly, but generally, you can start with just a few dollars’ worth of USDT to buy AKT on BYDFi.
