FLy is an ERC20 based token issued on the Ethereum blockchain. Black Ocean provides a bridge to migrate FLy tokens from Ethereum network to Binance Smart Chain and back. It means, you can use both solutions - ERC and BSC to buy and hold FLy. To hold FLy you need an Ethereum address. Fortunately, that's very easy to achieve:
1: Setup an Ethereum address (or use the BSC solution).
There are many ways to setup an ethereum address, you could install an Ethereum node and use a generated address. However, that requires some technical knowledge and it's not a user friendly method, for this step-by-step we will use MetaMask and
Setting up MetaMask: Head over to YouTube to watch this instructional video
on setting up MetaMask. Sending FLy to your MetaMask address is simple. Copy your ETH address from your MetaMask interface and use this address to send funds to and from an exchange. We recommend sending your funds to your MetaMask wallet for long term storage and for extra security. Read more about using MetaMask here
For the BSC solution, you can use the Smartchain (BNB) Wallet. Binance Smart Chain has a BEP20 token standard that functions similarly to Ethereum's ERC20 standard. The easiest way to access the BSC ecosystem is using the Trust DApp Browser
Always verify you are on the correct website before interacting with an Ethereum wallet or Trust Wallet on the web. VRM and Black Ocean are not liable for lost funds. Follow this tutorial at your own risk.
2: Add Ethereum to your address.
Now that you have an Ethereum wallet and address you're gonna need some ETH to pay the gas fees for moving assets around the blockchain. Gas is the network fee paid to miners for processing and validating transactions. Most exchanges offer Ethereum and its many tokens so you will be able to find ETH readily. Once you have acquired ETH on your chosen exchange you can send it to your new shiny ETH address. Once you hold both FLy and ETH on an address you are able to send FLy to any exchange account you wish to trade with.
3: Trade on a FLy listed exchange:
Now you are able to move your FLy tokens around the blockchain you can start trading on your chosen exchange