Buy BinaryX (BNX)
What is BinaryX?
BinaryX is a GameFi platform that develops and hosts blockchain-based games, integrating principles of decentralised finance (DeFi). It functions both as a developer of blockchain games and as an Initial Game Offering (IGO) launchpad for other game developers. The platform aims to combine gaming with DeFi elements to create an engaging ecosystem for users.
How does BinaryX work?
BinaryX operates on the Binance Smart Chain, utilising a Proof of Staked Authority (PoSA) consensus mechanism to select validators for transaction security and network efficiency. The platform leverages smart contracts to manage game logic, token distribution, and the creation and management of NFTs. BNX tokens serve multiple roles within the platform, including in-game transactions, DAO governance, and community rewards.
What are the potential use cases for BinaryX?
The BNX token can be used for several purposes, such as:
- Game Development Funding: BNX helps finance game development within the BinaryX platform.
- Community Incentives: It rewards community members for their contributions and engagement.
- DAO Governance: Token holders can participate in governance decisions via the platform's DAO.
- Initial Game Offering (IGO) Services: BNX supports IGO services, aiding game developers in launching their projects.
- Play-to-Earn: Users can earn BNX tokens by engaging in gameplay.
- Transaction Fees: BNX is used to pay various fees on the platform.
What is the history of BinaryX?
BinaryX was established in May 2021, originally as a decentralised derivatives contract platform. It shifted focus to GameFi, launching notable games like CyberDragon and CyberArena. Major milestones include the launch of BinaryX DAO, and significant updates to its economic model and tokenomics. The BNX token underwent a split in February 2023 following a DAO vote. The platform has built a strong market presence, backed by significant partnerships like those with Binance Labs.
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Frequently Asked Questions (FAQs)
What is the current price of BinaryX (BNX)?
The BinaryX price is $0.69402809 AUD, representing a +6.2% from the day prior.
Where is the best place to buy BinaryX (BNX) in Australia?
The best place to buy BinaryX (BNX) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell BinaryX (BNX) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of BinaryX (BNX)?
The trading volume of BinaryX (BNX) is $36.7M AUD in the last 24hrs, representing a +6.2% from the day prior.
How can I buy BinaryX (BNX)?
BinaryX (BNX) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of BinaryX (BNX)?
The current market cap of BinaryX (BNX) is $260.5M AUD.
Can I convert BinaryX (BNX) to cash?
Yes - With Coinstash you can convert your BinaryX (BNX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many BinaryX (BNX) are there?
The current circulating supply of BinaryX (BNX) is 370.6M.
Is Coinstash a safe place to buy BinaryX (BNX) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling BinaryX (BNX) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.