How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase GMX on BYDFi. We'll guide you through it
Choose how to purchase GMX on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (GMX). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store GMX in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your GMX to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy GMX on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive GMX
Trade
Answers
Is GMX (GMX) a Good Investment?
As the governance and utility token of a popular DEX, the GMX token could be an interesting addition to your crypto portfolio. With the increased interest in decentralized finance (DeFi), the GMX exchange could attract more traders, making its token more valuable and supporting an uptrend in the GMX token price.
The GMX price could make gains not only when the number of users trading on its platform increases but also as it lists more crypto assets. In addition, as GMX goes live on more blockchain networks in the future, it could support more assets for trading and swapping, attracting more users and driving up on-chain activity, which could boost the GMX price statistics.
The price of GMX could also strengthen as the market sentiment towards cryptocurrencies improves in the future. A bullish market sentiment increases trading activity across the spot and perpetual markets. It could drive up GMX DEXs trading volumes and revenues, increasing the value of GMX crypto in the market.
What factors could influence the GMX Crypto Price Prediction?
Although it is impossible to offer an accurate GMX price prediction over any duration, based on an analysis of its price history, the following factors could influence price changes in the GMX token:
Level of Adoption of GMX Exchange
A higher number of traders using the GMX platform to perform token swaps or trading could support the GMX to USD price in the market. However, if the platform faces stiff competition from other DEXs that offer more competitive fees and exciting features, a dip in trading activity could weaken the price of GMX crypto in the market.
Services and Offerings
When GMX lists new tokens supported on its platform for swaps and trading or adds new features, it could encourage higher activity that could send the price of GMX token higher in the market. In addition, the market cap and value of GMX crypto could pick up in the future as developers expand the DEX to operate on more blockchains beyond Arbitrum and Avalanche.
Market Sentiment
As a decentralized exchanges utility token, the price of GMX token depends heavily on the crypto market sentiment. A bullish mood among investors could encourage more trading and swapping activity, earning the DEX and GMX token holders more revenue and supporting the price of GMX. On the other hand, when investors stay away from the market due to a risk-off mood, the trading activity, and volumes on GMX dip, causing weakness in the GMX token price.
What is GMX Token Used For?
The following are the most popular use cases for the GMX cryptocurrency:
Utility Token to Earn Rewards
You can stake GMX to receive 30% of fees generated from the swaps and leverage trading activity on the GMX DEX.
Governance Token
GMX holders can also enjoy voting rights and participate in critical decisions about future upgrades to the exchange. They can submit and vote on other users' proposals that can influence the development of the DEX.
Crypto Asset to Trade and HODL
You can trade GMX crypto against other digital assets in the crypto market to profit from changes in market conditions. Buy or sell GMX against other crypto assets, or hold it long-term if you believe in the future potential of the GMX decentralized exchange. Review the live GMX price today, GMX live market cap, circulating supply, and 24-hour trading volume, and analyze the GMX price chart before trading GMX in the market.
What Can You Do on GMX DEX?
The GMX exchange can be used for the following:
Token Swaps
Swap multiple crypto assets supported by the GMX platform with zero price impact. GMX is live on Aribtrum and Avalanche networks and supports low swap fees on leading cryptocurrencies, including WETH, BTC, LINK, UNI, USDC, USDT, DAI, and FRAX.
Perpetual Trading
You can go long or short on leading cryptocurrency trading pairs on GMX with up to 50x leverage. You can set your preferred market, limit, take profit, and stop loss orders. GMX charges a low fee of 0.1% for opening and closing positions.
Provide Liquidity
You can provide liquidity to the GMX platform using the GLP token. The LP token of the GMX exchange accrues 70% of the trading fees generated by GMX and earns liquidity providers' fees. It can be minted or burned to redeem any index component asset from the platform's unique multi-asset pool.
Staking
You can stake GMX or GLP on the GMX DEX to earn attractive rewards. In addition to earning ETH or AVAX as rewards for staking GMX, you can also earn escrowed GMX (esGMX) that can be vested to become actual GMX tokens in one year. You can also earn Multiplier Points for staking on the GMX platform, a reward for long-term holders without inflation.
How to Stake GMX?
Heres how to stake GMX on the app:
1. Launch the GMX decentralized exchange app and connect your wallet to the apps interface.
2. Ensure you have sufficient GMX tokens for staking before proceeding further. You can fund your wallet with GMX tokens by purchasing them on BYDFi or other supported platforms and withdrawing them into your wallet.
3. Head to the Earn tab on the GMX exchange app and visit the section on GMX.
4. Click on Stake and enter the number of GMX coins you wish to stake. Confirm the staking transaction.
5. Sit back, earn rewards on staking GMX on the exchange, and grow your crypto holdings conveniently.
