Buy GMX
What is GMX?
GMX is a decentralised exchange (DEX) focused on trading perpetual cryptocurrency futures. It provides users the ability to trade popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) with leverage of up to 50x. The platform operates on the Arbitrum and Avalanche blockchains and is designed to provide a decentralised and secure trading environment.
How does GMX work?
GMX utilises a decentralised approach to trading, employing a unique multi-asset liquidity pool model. This model allows users to deposit various cryptocurrency assets into the pool and become liquidity providers. The platform aggregates prices from leading exchanges via Chainlink oracles, ensuring accurate and timely pricing data. The use of smart contracts, which have been audited by ABDK Consulting, helps manage liquidity and trading operations efficiently.
What are the potential use cases for GMX?
GMX's primary use cases include:
- Decentralised perpetual futures trading and spot trading.
- Providing opportunities for leveraged trading with up to 50x leverage.
- Liquidity provision through the GLP pool, allowing users to participate as liquidity providers.
- Staking for rewards and governance participation within the platform.
This versatility makes GMX particularly relevant in the cryptocurrency trading and DeFi sectors.
What is the history of GMX?
GMX was developed by a team of anonymous experts known for launching successful protocols like XVIX and Gambit. It launched its first version (V1) on the Arbitrum blockchain in September 2021 and expanded to the Avalanche blockchain in January 2022. In November 2022, the launch of GMX V2 brought enhancements in performance and functionality. Over time, GMX has evolved from being a basic decentralised exchange to a sophisticated platform with significant trading volume and market presence.
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Frequently Asked Questions (FAQs)
What is the current price of GMX (GMX)?
The GMX price is $47.58 AUD, representing a +12.42% from the day prior.
Where is the best place to buy GMX (GMX) in Australia?
The best place to buy GMX (GMX) 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 GMX (GMX) 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 GMX (GMX)?
The trading volume of GMX (GMX) is $62.7M AUD in the last 24hrs, representing a +12.42% from the day prior.
How can I buy GMX (GMX)?
GMX (GMX) 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 GMX (GMX)?
The current market cap of GMX (GMX) is $466.1M AUD.
Can I convert GMX (GMX) to cash?
Yes - With Coinstash you can convert your GMX (GMX) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many GMX (GMX) are there?
The current circulating supply of GMX (GMX) is 9.9M.
Is Coinstash a safe place to buy GMX (GMX) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling GMX (GMX) 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.