Credit / Debit Card
Fee
Variable Fees
Processing Time
Usually within 1 minute, up to 48 hours
Minimum Purchase Amount
Starting from approx. 10–15 USD
Supported Regions
Subject to region, fiat currency, issuing bank, and payment channel support
How to Buy Legacy Frax Dollar (FRAX) on LBank
Learn how to buy Legacy Frax Dollar (FRAX) on LBank, including payment methods such as credit cards, debit cards, Apple Pay, and bank transfers, as well as the purchase process, preparations, and FAQs.
Step 1
Download the LBank App
Please download the LBank App and register to get started
Step 2
Fund your account
Deposit using your preferred payment method.
Step 3
Choose your cryptocurrency
Select the crypto you want to buy from over 3,000,000 cryptocurrencies available on LBank Exchange or Wallet.
Purchase Decision Overview
Bank Transfer / Local Transfer
Fee
Variable Fees
Processing Time
Depends on the payment method; some local channels may be faster
Minimum Purchase Amount
Starting from approx. 1–10 USD
Supported Regions
Subject to local payment channel support
Three Simple Steps to Buy FRAX on LBank
How to Buy FRAX on LBank: Payment Methods Overview
Explore the available payment methods for buying FRAX on LBank, including credit card, debit card, bank transfer, Apple Pay, Google Pay, PayPal, and P2P, to quickly choose the most suitable way to buy FRAX.
Credit / Debit Card
Processing Time: Usually within 1 minute; up to 48 hours
Use a Visa/Mastercard that supports international online transactions and ensure 3D Secure is enabled; if it fails, try a different card or try again later
Common Reasons for Failure: The issuing bank declined the cryptocurrency transaction; insufficient balance; 3D Secure verification failed; risk control interception; or region/card network not supported
Bank Transfer / Local Transfer
Processing Time: Instant or 1–3 Business Days
Verify the receiving account, reference code, and transfer network, and use a bank account consistent with your identity verification
Common Reasons for Failure: Incorrect receiving information or reference code; name mismatch; bank processing delay; or unsupported transfer network
What Do You Need to Prepare Before Buying Legacy Frax Dollar (FRAX) on LBank?
Check the preparations required before buying Legacy Frax Dollar (FRAX) on LBank, including account registration, identity verification (KYC), payment methods, regional availability, and pre-purchase precautions to help you smoothly complete the BTC purchase process.
Suitable for
Users who want to quickly buy FRAX with fiat
Before You Buy: Checklist
Register and log in to your account
Complete required KYC
Prepare payment method
Confirm regional availability，Check limits / fees / processing time
User Path
Buy Crypto
How to Buy Legacy Frax Dollar on LBank – Step-by-Step Guide
Before you begin, decide how you’d like to pay:
Pay with fiat
If you're new to crypto, using fiat currency (such as USD, EUR, etc.) is the easiest way to buy Legacy Frax Dollar. LBank supports various payment methods, including debit cards, credit cards, bank transfers, and other local payment options where available. You may need to fund your LBank account before making a purchase.
Pay with other cryptocurrencies
If you already hold other cryptocurrencies, you can trade them for Legacy Frax Dollar on LBank. Please make sure that LBank supports the trading pair you need (e.g., Bitcoin (BTC)). LBank offers a wide range of trading pairs, allowing you to conveniently convert your existing crypto into Legacy Frax Dollar.
LBank supports multiple payment methods
You can use the following payment methods to purchase Legacy Frax Dollar on LBank:
Mobile app guide
1
Open the LBank mobile app and tap “Buy Crypto”
2
Select “Buy”
3
Choose , enter the fiat currency you want to use, input the amount, then tap “Buy” or “Confirm”
Desktop guide
1
Log in to LBank on your desktop browser and click the “One-Click Buy” option.
2
Under the “One-Click Buy” tab:
(a). Choose the fiat currency you want to use
(b). Select the Legacy Frax Dollar you want to purchase
(c). Enter an amount or use quick-select options (e.g., 100, 200, 500, max)
(d). Choose your payment method
(e). Click “Confirm” or “Buy now”
P2P Trading
Merchant | Price | Amount ｜ Limit | Payment Method | Action |
|---|---|---|---|---|
18 180-fast24x7 1047 min | 100% | 1.000 USD | 10.00 USDT 10.000 - 10.000USD | Bank Transfer | |
SU SUPER FAST BUY-SELLR 651 min | 100% | 1.000 USD | 163.06 USDT 1.000 - 163.060USD | Bank Transfer | |
MA MALAYSIAN MYR_KING 576 min | 100% | 1.000 USD | 1457.44 USDT 10.000 - 1457.440USD | Bank Transfer |
What is Legacy Frax Dollar (FRAX)?
The Legacy Frax Dollar, known as FRAX, is a stablecoin that was launched in 2020 as part of the Frax Finance protocol. It was designed to maintain a stable value pegged to the US dollar. FRAX pioneered a unique "fractional-algorithmic" model, meaning its stability was achieved through a combination of collateral backing and algorithmic mechanisms. Initially, FRAX was partially backed by collateral, such as USDC, and partially stabilized through an algorithm that adjusted its supply. This system involved a dynamic collateralization ratio (CR) that would change based on the market price of FRAX. For instance, if FRAX traded above its dollar peg, the protocol could decrease the collateral ratio, making it less backed by collateral. If it fell below the peg, the collateral ratio would increase. The Frax Protocol uses a two-token model, where FRAX is the stablecoin and Frax Shares (FXS) is the governance token. FXS plays a role in the collateralization process through burning and redemption mechanisms. The Frax Finance ecosystem has evolved to include various decentralized finance (DeFi) components, such as liquid staking, lending markets, and automated market makers (AMMs). Following the 2025 North Star Hardfork, FRAX was renamed "Legacy Frax Dollar" as the Frax Finance protocol transitioned to frxUSD, a fully collateralized stablecoin backed by institutional assets like tokenized U.S. Treasuries. Despite this transition, Legacy Frax Dollar continues to be utilized within the broader Frax ecosystem for various operations. The protocol aims to provide a scalable, decentralized, and stable digital currency. Learn more
Is Legacy Frax Dollar (FRAX) a good investment?
Whether Legacy Frax Dollar (FRAX) is a good investment depends on your personal financial situation and risk tolerance. Cryptocurrency investments are speculative and can be highly volatile.
Before investing in Legacy Frax Dollar (FRAX) or any cryptocurrency, consider the following:
Your financial goals
Are you seeking short-term gains or long-term growth?
Your risk tolerance
How much potential loss are you comfortable with?
Diversification
Don’t put all your eggs in one basket. Spread your investments across different types of assets.
Your goals and time horizon
Cryptocurrencies are best suited for long-term investors. Disclaimer: This is not financial advice. Please do thorough research before making any investment decisions.
Fees, limits, and processing time for buying FRAX on LBank
Compare fees, transaction limits, and estimated processing times across different payment methods. Actual fees and availability may vary by region, fiat currency, payment method, and third-party providers. Please refer to the order page for final details.
ROI calculator
If I invest, how much profit will I make?
Invest
$
Enter
FRAXDate
2026-06-06
You will earn $-- in profit, with an ROI of --
What can you do with Legacy Frax Dollar (FRAX)?
Investment
Buy and hold Legacy Frax Dollar (FRAX), expecting its value to increase over time.
Trade
Actively trade Legacy Frax Dollar (FRAX) on LBank to profit from price fluctuations.
Pay
Use Legacy Frax Dollar (FRAX) to pay for goods and services where accepted.
Why is LBank the best platform to buy Legacy Frax Dollar (FRAX)?
User-friendly interface
LBank offers a simple and intuitive platform for buying and selling Legacy Frax Dollar (FRAX).
Competitive fees
LBank provides competitive trading fees for Legacy Frax Dollar (FRAX).
Secure platform
LBank applies robust security measures to protect your funds.
Diverse trading pairs
LBank offers a wide range of trading pairs for Legacy Frax Dollar (FRAX).
24/7 customer support
LBank provides customer support to help you with any questions or issues.
Mobile app
Trade Legacy Frax Dollar (FRAX) anytime, anywhere using the LBank mobile app.
High liquidity
LBank offers excellent liquidity for Legacy Frax Dollar (FRAX) trading, ensuring you can easily buy and sell your crypto assets.
Regulatory compliance
LBank complies with all regulatory requirements in the jurisdictions where it operates to ensure a compliant and secure trading environment
After buying FRAX, what is the best way to store it?
After buying FRAX, you can choose a storage method based on your usage frequency, holding period, and security needs. If you need to trade at any time, you can store it in your LBank account. If you prioritize self-custody or long-term security, consider using a personal wallet or a hardware wallet.
Store in your LBank account
Suitable for
Users who want to trade or convert at any time
Short-term BTC holders
Features
Ready to use immediately after purchase; easier to use
Ideal for frequent trading, conversions, or using platform features
Security Alert
Please enable 2FA
Please set an anti-phishing code
Only log in through official channels
Transfer to a personal hot wallet
Suitable for
Users who want to manage their own assets
Users who need daily transfers or on-chain usage
Features
More flexible; convenient for daily transfers and management
Better suited for small holdings and everyday use
Security Alert
Do not store seed phrases or private keys in the cloud
Do not save sensitive information via chat tools, email, or screenshots
Stay alert for phishing websites and fake wallet apps
Transfer to a hardware wallet
Suitable for
Long-term BTC holders
High-value holders who prioritize security
Features
Private keys are stored offline, offering enhanced security
Ideal for long-term storage of infrequently moved assets
Security Alert
Securely back up seed phrases offline
Never disclose your recovery phrase to anyone
Assets may be irrecoverable if the seed phrase is lost
Legacy Frax Dollar (FRAX) FAQ
Legacy Frax Dollar (FRAX) is the original stablecoin of the Frax Finance protocol. It was designed as a decentralized, hybrid algorithmic-collateralized stablecoin pegged to the US dollar. Its mechanism involved adjusting supply and utilizing collateral along with the FXS token to maintain its peg. After the 2025 North Star Hardfork, its pegging mechanism evolved, and it transitioned towards a more collateralized model, with frxUSD becoming the fully collateralized stablecoin.
Initially, FRAX used a fractional-algorithmic model combined with Algorithmic Market Operations (AMO) to maintain its $1 peg. This involved dynamically adjusting its supply and utilizing a mix of collateral and the FXS token. Following the 2025 North Star Hardfork, its stability mechanism evolved. While still active, FRAX's peg is now supported by a mostly collateralized model, with frxUSD taking on the role of the fully collateralized stablecoin within the updated Frax Finance framework.
After the 2025 North Star Hardfork, FRAX was rebranded as "Legacy Frax Dollar" as Frax Finance introduced frxUSD as its primary fully collateralized stablecoin. Despite this evolution, Legacy FRAX remains an active and important component within the ecosystem. Its current roles include being used for minting FPI (Frax Price Index), which is a CPI-pegged stablecoin, and supporting various other essential protocol operations within the Frax Finance framework.
Legacy Frax Dollar (FRAX) offers diverse utility within the decentralized finance (DeFi) space. It can be actively used for trading purposes across various platforms, staked to potentially earn rewards, and serves as a reliable and consistent medium of exchange in a wide array of DeFi applications. Furthermore, FRAX functions as a restakable asset, providing a mechanism for participation in governance within the broader Frax Finance protocols.
The Frax ecosystem is interconnected. FXS (Frax Shares) initially served as the utility and governance token for the Frax Protocol. Post-North Star update, FXS was renamed FRAX and became the native gas token for the Fraxtal blockchain. frxUSD is the new fully collateralized stablecoin introduced after the North Star Hardfork, while Legacy FRAX (the original FRAX) continues to play a role in minting FPI and other operations. These tokens work together to maintain stability and utility.
The original FRAX token, now referred to as Legacy Frax Dollar, was officially launched on December 20th, 2020. The project was founded by a team of visionary individuals: Sam Kazemian, Travis Moore, and Jason Huan. Their collective expertise contributed to the development and initial rollout of this innovative hybrid algorithmic-collateralized stablecoin project.
