How to Buy Mdex (MDX) in 2022: A Simple Guide

Mdex (MDX)In this guide you’ll get information about where to buy Mdex, if you are planning to buy MDX token – You’re in the right place!

Mdex is a platform that is created as a new and advanced decentralized trading network and protocol. The launching of this platform took place in January 2021, but the popularity of the platform is soaring fast and high. The platform has usurped the Uniswap (Ethereum), SushiSwap, 1inch, and also PancakeSwap (Binance Smart Chain) exchange in such a short time.

Mdex functions as an AMM (Automated Market Marking) exchange protocol with decentralized mechanism. It has some similarities to other standard DEXs for the fund pool concept. Instead of using the regular a single chain model, Mdex uses dual-chain model: one on Ethereum and one on HECO (Huobi Ecological Chain). Because of this construction, the platform can benefit from the best features of two worlds. It has deep liquidity (from Ethereum ecosystem) and extremely low transaction fee (from HECO). As it constructed on HECO, this platform is said to excel Uniswap in terms of speed and cost; finalize transaction in less than 3 seconds and charge low cost for $0.001 per trade.

Mdex (MDX) Features

  • Unique combination. The platform mixes the best features and natures of different public chains in order to create not only an extremely functional DEX ecosystem, but also a convenient one. With the combination of top notch performance and easy operation, users shouldn’t have any issue managing their assets.
  • Dual mining system. Instead of depending on only one mining mechanism, the platform combines transaction mining as well as liquidity mining for better and greater returns.
  • MDEX Bridge. The platform acts as a ‘bridge’ that connects different platforms and networks. With this, cross-chain interoperability is possible, especially among BSC, ETH, and HECO.
  • Improved value capture. The platform implements a unique system with its transaction fee. With its repurchase-and-burn mechanism within BSC and HECO, it realizes a self-driven and closed loop that should benefit users and investors.

Where to Buy, Sell and Trade Mdex aka MDX

You can basically use debit card, credit card, or even PayPal to buy the Mdex (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Mdex as the exchange.

With cryptocurrency, things are different. You need to use debit card or credit card to buy  Tether first. After you get the ETH or BTC or USDT, you can convert it to Mdex. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.

In general, the process would be:

  1. You go to the online exchange and buy the Ethereum (ETH), Bitcoin (BTC), or Tether (USDT)
  2. Find a crypto exchange that supports Mdex currency and exchange your Ethereum / Bitcoin / Tether with the Mdex
  3. Store your Mdex to a secured wallet

Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) or Tether (USDT) at Coinbase

There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.

The site will ask for some basic information about yourself, make sure to tell the truth. Otherwise, you could face withholding of your investment. Make sure to type your name, your e-mail, and your password correctly. The stronger your password is, the safest your money will be. You will be asked to check your status as a living being using a re-captcha box and to agree to the terms of use of the platform.

Get $10 Bonus when you sign up for Coinbase!

coinbaseClick here to register (opens in new tab)

  • You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
  • Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
  • You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.

That’s the first step in buying Mdex, once you get your Bitcoin or Ethereum or Tether, you can continue to the next step.

Step 2: Choosing the Best Cryptocurrency Exchange for Your Investments

After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH or USDT from your Coinbase wallet.

With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.

These are the best exchanges we can recommend for you to exchange BTC or ETH or USDT with Mdex:

GATE.io
gate.ioGate.io is a crypto exchange service that is part of Gate Technology Inc. Gate.io is registered in Virginia, United States, and founded in 2017. They only handle transactions using cryptocurrencies, so you won’t find Fiat options with them. Since they work with the best ranked digital assets in the industry, they can average up to $48million in transactions. Gate.io crypto exchange allows users in 49 states within the US to trade the spot crypto market except for Washington State and New York State.

  • Deposit Methods: Cryptocurrency Only
  • Fiat Currencies: N/A
  • Supported Cryptocurrencies: BCH, EOS, TRX, ONT, ETH, BTC, BTM, AE, OCN, ADA, IHT, XRP, ETC, NAS, LTC, & over 565+ more
  • Trading Pairs: 1118+
KUCOIN
kucoinKucoin is one of the most solid exchanges in the market right now. They started to operate back in 2017. They take regular payment methods such as wire and bank transfers as well as other cryptocurrencies. They have a presence both in the Google Play Store and the iOSAppStore. Kucoin also offers discount trading fees, as well as significant dividends on half the transactions they do. They have a presence both in the Google Play Store and the iOSAppStore.

  • Deposit Methods: Cryptocurrency, Express Polish Post Office 24/7, Wire transfer, GBP bank transfers
  • Fiat Currencies: USD, EUR, PLN, GBP and 47+ More
  • Supported Cryptocurrencies: BTC, ETH, XRP, BCH, TRX, LTC, DASH, XMR, XLM, OMG & 512+ more
  • Trading Pairs: 1044+

IMPORTANT! Once you are registered to any of the above, find the MDX/BTC or MDX/ETH or MDX/USDT trading pair and then place the order to buy those pairing cryptocurrencies. Go back to COINBASE and transfer/exchange your Bitcoin/Ethereum/Tether

Step 3: Managing Your Crypto Assets in a Secure Wallet

As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.

You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.

There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.

For Securing your Mdex (MDX) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor

ledger nano x

LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.

  • Secure
  • Mobile Friendly
  • Easy to Manage
  • Supported Coins: 1200+

trezor model t

TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.

  • Invented for your digital independence
  • keeps your keys safe
  • Easily back up your entire wallet
  • Supported Coins: 1093+

Frequently Asked Questions (Faqs)

Can I Buy Mdex (MDX) with PayPal?

You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Mdex. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.

Can I Buy Mdex (MDX) with Cash?

You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:

  • Make sure you have a BTC / ETH wallet before you buy from seller
  • Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.

Can I Buy Mdex (MDX) with Skrill?

You can’t buy MDX directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Mdex. You can buy BTC/ETH with skrill by using these exchanges::

  • LocalBitcoins
  • Paxful
  • Virwox
  • SpectroCoin
  • Lykke
  • Exmo
  • Coingate

Can I Buy Mdex (MDX) with Bitcoin?

Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair MDX/BTC and begin the transactions.

Can I Buy Mdex (MDX) with Ethereum?

Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support MDX/ETH trading pair.

What Is the Best Payment Method to Buy Mdex (MDX)?

The cheapest way is to use bank account to buy Bitcoin or Ethereum or Tether first or to buy the Mdex right away. The fastest way is to use a credit card but you will then be charged higher fees.

How to Protect Mdex (MDX)?

Once you have purchased the Mdex, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:

Ledger Wallet

Trezor Wallet

 

 

 

 

 

 

How to Sell Mdex (MDX)?

Find a crypto exchange which allow pairing MDX with BTC or ETH or USDT – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.

Can I Mine Mdex (MDX) and Not Buying It?

You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Mdex is to buy it from a reliable exchange.

Conclusion

If you want to think of it, MDEX is (almost) the same as Uniswap when it comes to function, but they have different concepts and understanding in economics. Expect volatility, especially since MDX has been listed in Gate.io and Huobi (Chinese leading exchanges). However, users can rely on Huobi’s track record and reputation. They believe that the chain will remain functional and safe. Anyone who is interested in joining the platform can always buy Mdex (MDX) to do it.

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