How to Acquire / Sell Flow-Based Tokens (USDC, tUSDT, FLOW & FUSD)

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Introduction

Flowty operates on the Flow blockchain. Interacting with the platform may encompass exchanging tokens across blockchains or using on / off ramps between fiat and crypto.

The following is a guide on how to exchange assets to ensure a smooth experience on flowty. Please note that there are restrictions in some jurisdictions that may limit access to some or all of the platforms we have highlighted. There are also other (potentially more cost-effective or faster) ways to exchange that we have not covered below.

Always use caution when interacting with exchanges. Inclusion below is not an endorsement of any platform. Please take the time to understand and review the risks associated with using any of these platforms.

Keep in mind that exchanging currencies may take time. Please plan accordingly, especially if you are relying on an exchange or transaction to be able to repay a loan.

Exchanges:

• US exchanges: Kraken.us, Moonpay, Coinlist, Coinbase
• Non-US exchanges: Binance, Kucoin

Scenario 1: Have fiat, need Flow tokens

Easiest:

1. Purchase FLOW on Coinbase
2. Transfer FLOW to Blocto wallet
3. Keep FLOW or convert to desired Flow-based token using Blocto Swap

Most Direct:

1. Open Blocto app
2. Navigate to Wallet
3. Click “+” to add [target Flow token]
4. Select [target Flow token] from wallet
5. Select Buy and follow prompts

Alternative:

1. Create a Kraken account on the website or mobile app
2. Search and select FLOW
3. Click ‘new order’ and input the desired amount
4. Attempt to confirm the transaction and select the preferred payment method
5. When the transaction is finalized, the FLOW will appear in your Kraken account
6. Click on funding at the top of the Kraken home page (Withdraw crypto from Kraken to a wallet -> helpful post)
7. Select withdrawal and search for the currency you wish to withdraw
8. Input your Blocto Flow wallet address and the withdrawal amount
9. Click withdraw and confirm the transaction
10. The funds will appear in your wallet shortly thereafter

Scenario 2: Have crypto, need Flow token (step-by-step video)

As of May 19, 2022, users in many countries can now use Coinbase to purchase FLOW. For some, selling other crypto and purchasing FLOW via Coinbase may be the easiest option.

To swap Ethereum tokens to Flow tokens, you need to convert crypto to USDT first

1. Go to Uniswap
2. Connect Ethereum wallet
3. Swap crypto for USDT
4. Confirm the swap - you will be charged a gas fee for this transaction

USDT to Flow tokens

1. Go to Blocto teleport
2. Sign in with a Blocto account
3. Connect an Ethereum wallet (containing USDT)
4. Input USDT in ‘from’ and tUSDT in ‘to’
5. Enable tUSDT
6. Approve tUSDT
7. Teleport (may take 5–10 minutes, per Blocto)

Swap tUSDT for other Flow tokens

1. Open Blocto
2. Input tUSDT in ‘from’ and [target token] in ‘to’ and confirm the swap

Scenario 3: Have one type of Flow token, need another type of Flow token

1. Go to Blocto
2. Sign in with your Blocto account
3. Input [token you have] in ‘from’ and [target token] in ‘to’
4. Click swap
5. Confirm the swap

Scenario 4: Have Flow token, need Ethereum-based tokens

Swapping for Eth-based tokens

1. Go to Blocto swap
2. Swap Flow token for tUSDT (skip if you already have tUSDT)
3. Open Blocto teleport
4. Select ‘connect Ethereum wallet’ and connect your wallet [IMPORTANT: if you want to transfer to your metamask (or any non-Blocto Ethereum wallet), use the desktop version of Blocto, not the app. The app will force you to create a Blocto Ethereum wallet and you will need to transfer to your metamask.]
5. Input tUSDT in ‘from’ and USDT in ‘to’
6. Confirm the swap
7. Open Uniswap
8. Swap USDT for desired token — there will be a gas fee

Scenario 5: Have Flow token, need fiat

Easiest:

1. Convert Flow token to FLOW
2. Send to Coinbase
3. Sell -> withdraw

Alternative:

1. Go to Blocto
2. Swap Flow token for FLOW (skip if you have FLOW already)
3. Send FLOW to an exchange (Kraken, Kucoin, etc)
4. Sell FLOW and send proceeds to bank

Scenario 6: Have Dapper Balance, need Flow tokens

Easiest (for users with this feature enabled):

1. Open Dapper Wallet
2. Select “Home”
3. Select “Withdraw Balance”
4. Withdraw to USDC on Flow
5. Use USDC or swap to desired token on Flow via Blocto swap

Alternative:

1. Open Dapper Wallet
2. Select “Home”
3. Select “Withdraw Balance”
4. Withdraw to USDC on Ethereum
5. Send USDC to Coinbase
6. Sell USDC on Coinbase
7. Buy FLOW on Coinbase

Alternative:

1. Open Dapper Wallet
2. Select “Home”
3. Select “Withdraw Balance”
4. Withdraw to USDC on Ethereum
5. Convert USDC to USDT (Uniswap is a commonly used platform for swapping)
6. Teleport USDT to tUSDT via Blocto teleport
7. Use tUSDT or swap to desired token on Flow via Blocto swap

Scenario 7: Have Flow-based token, need Dapper balance

Easiest:

1. Convert tokens to FLOW via Blocto swap
2. Send FLOW to Coinbase
3. Sell FLOW
4. Deposit fiat in Dapper balance or purchase USDC (eth) and deposit Dapper balance

Alternative:

1. Go to Blocto swap
2. Swap Flow token for tUSDT (skip if you already have tUSDT)
3. Open Blocto teleport
4. Select ‘connect Ethereum wallet’ and connect your wallet [IMPORTANT: if you want to transfer to your metamask (or any non-Blocto Ethereum wallet), use the desktop version of Blocto, not the app. The app will force you to create a Blocto Ethereum wallet and you will need to transfer to your metamask.]
5. Input tUSDT in ‘from’ and USDT in ‘to’
6. Confirm the swap
7. Open Uniswap
8. Swap USDT for USDC (eth)— there will be a gas fee
9. Deposit USDC to Dapper balance

Where to Find Us

• Flowty Website
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• Medium