Fetch.ai (FET) is a decentralized, open-access blockchain platform that combines artificial intelligence and machine learning to automate tasks and optimize efficiency in various sectors such as finance, energy, and healthcare. It uses smart agents to perform tasks on behalf of individuals or organizations, leveraging AI automation to improve efficiency and deliver personalized experiences. The platform is powered by the FET utility token, which is used for transactions, governance, and network security.
Fetch.AI (FET) is used in several ways within the Fetch.ai ecosystem:
Staking and Governance: FET is used for staking, which helps secure the network and allows users to participate in governance by voting on project proposals. Users can delegate their stake to larger validators and share in rewards.
Transaction Fees: FET is used to pay for transaction fees on the network, ensuring the smooth operation of the decentralized machine learning platform.
AI Deployment and Services: FET is used to deploy AI models and pay for services on the network, facilitating the development of autonomous economic agents and other AI-powered applications.
Smart Contracts and Oracles: FET is essential for smart contracts and oracles, which are crucial components of the Fetch.ai platform, enabling the automation of tasks and decision-making processes.
Autonomous Economic Agents: FET is used to create, deploy, and train these agents, which can represent individuals, companies, or devices and perform tasks autonomously, leveraging machine learning and AI capabilities.
Overall, FET is the native utility token that powers the Fetch.ai ecosystem, enabling the creation of a decentralized digital economy with AI-backed machine learning capabilities.
To store Fetch.AI (FET) tokens, you can use the Fetch.ai browser extension wallet. This wallet supports native FET tokens and not ERC-20 FET tokens. Here are the steps to set it up:
Download and Install the Fetch.ai Browser Extension Wallet:
- Visit the official Fetch.ai website and follow the installation prompts to integrate the extension into your browser (Chrome, Brave, or Firefox).
Create or Import an Account:
- If you're setting up the wallet for the first time, select the Create new account option. If you have an existing account, select the Import existing account option and restore your wallet by inputting your seed phrase. If you're using a Ledger hardware wallet, select the Connect ledger option.
Connect Ledger Hardware Wallet (Optional):
- If you own a Ledger hardware wallet, connect it to your computer using the supplied USB cable and open the Ledger Live software. Ensure the Cosmos app is installed on your Ledger device. Then, open the Fetch.ai browser extension wallet and select the Connect Ledger option.
Deposit FET Tokens:
- Log into your Fetch wallet, copy your account's address, and use it as the destination account to send FET tokens from another wallet or exchange. You can also buy tokens directly within the Fetch wallet.
Manage Your Tokens:
- Once you have FET tokens in your Fetch wallet, you can use the wallet to send, receive, and stake your tokens. Ensure you have at least 1 available undelegated FET in your wallet to cover transaction fees.
Remember to never send ERC-20 FET tokens to the Fetch wallet, as it only supports native FET tokens. If you have ERC-20 FET tokens, you need to use a token bridge to swap them for native FET tokens before storing them in the Fetch wallet.
To buy Fetch.AI (FET) tokens, follow these steps:
Create an Account:
- Binance: Register on the Binance website or app, and verify your identification.
- Kriptomat: Sign up with Google, Apple, or enter your name and email. Verify your email, phone number, and identity.
- Kraken: Provide your email address and country of residence to create a free account.
- Coinbase: Download the Coinbase app and start the sign-up process, which includes verifying your ID and adding a payment method.
Add Funds:
- Binance: Deposit funds using a credit card, debit card, or bank transfer.
- Kriptomat: Add funds via bank deposit or credit card.
- Kraken: Connect a funding method such as a credit card, debit card, or bank transfer.
- Coinbase: Add a payment method like a bank account, debit card, or wire transfer.
Buy Fetch.AI:
- Binance: Navigate to the "Buy Crypto" section, select Fetch.AI, and choose your payment method.
- Kriptomat: Click on the Kriptomat icon, select "Buy," choose Fetch.AI, enter the amount, and confirm your purchase.
- Kraken: Search for Fetch.AI, select it, and complete your purchase with as little as $10.
- Coinbase: Search for Fetch.AI, select it, enter the amount you want to buy, and finalize your purchase.
Remember to review the fees and market conditions before making your purchase.
