How to Buy BinaryX (BNX)
Beginner’s Guide
What is BinaryX (BNX)?
BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.
How to Buy BinaryX Summary
- Get a BinaryX wallet (e.g. Ledger, Trezor ,Guardia, Exodus , AtomicWallet)
- Find an exchange that sells BinaryX (e.g. Binance, Kucoin, Crypto, GATE, MEXC)
- Deposit money and make the trade
- Withdraw the BinaryX to your wallet
Buying BinaryX in 3 Simple Steps
Step 1 – Get a BNX wallet
BinaryX (BNX) Hardware Wallets
BinaryX (BNX) hardware wallets are physical devices designed to securely store private keys and provide an extra layer of protection for cryptocurrency assets. BinaryX is a company that specializes in producing hardware wallets for various cryptocurrencies, including Bitcoin, Ethereum, and others.
A hardware wallet is a type of cold storage wallet that stores private keys offline, making them less vulnerable to hacks or other security breaches. The device typically requires a user to enter a PIN or passphrase to access the wallet, providing an additional layer of security.
BinaryX hardware wallets support multiple cryptocurrencies, and users can manage their assets through the company’s mobile app or desktop software. The app allows users to view their balances, send and receive funds, and manage their security settings.
BinaryX wallets use advanced security measures to protect user’s assets. The devices have a tamper-resistant design, and private keys are encrypted and stored in an isolated environment within the device. The wallets also use multi-signature authentication to ensure that transactions are only approved when authorized by multiple parties.
Overall, BinaryX hardware wallets offer a secure and convenient way for cryptocurrency holders to store and manage their assets. However, it’s important to keep in mind that even hardware wallets are not completely immune to security risks, and users should always take necessary precautions to protect their assets.
The best option for storing any cryptocurrency would be to use a hardware wallet. These are pieces of hardware that store the private key to your coins offline.
Today, there are two leading hardware manufacturers to choose from – Ledger and TREZOR. Both companies have different models of hardware wallets that will get the job done.
If you want deeper insights on specific models, you can read my Ledger Nano X review or my TREZOR Model T review.
BinaryX (BNX) Software Wallets
BinaryX (BNX) is a cryptocurrency that can be stored in a software wallet. A software wallet is a type of cryptocurrency wallet that is stored on a user’s computer or mobile device, and is designed to securely store, send, and receive digital assets like BNX.
BinaryX provides a software wallet for BNX that is available for download on their website. The wallet is compatible with Windows, Mac, and Linux operating systems, as well as iOS and Android mobile devices.
The BinaryX BNX wallet provides users with a secure and user-friendly platform to manage their BNX holdings. The wallet features a simple interface that allows users to view their BNX balance, transaction history, and other details related to their BNX holdings.
In addition to basic wallet functions, the BinaryX BNX wallet also allows users to send and receive BNX, and provides tools for securely managing private keys and seed phrases. The wallet also includes support for multiple languages, making it accessible to users around the world.
Overall, the BinaryX BNX software wallet is a reliable and convenient option for users looking to store, send, and receive BNX. As with any cryptocurrency wallet, it is important for users to follow best security practices, such as keeping their private keys and seed phrases secure and backing up their wallet regularly.
Hardware wallets cost money, so if you’re not sure how serious you are about cryptocurrencies and just want to get a taste of what they feel like, perhaps you would be better off starting with a software wallet.
A software wallet is a free program that lets you store your coins on your computer or mobile phone.
The easiest BinaryX software wallets to get started with are undoubtedly Exodus, AtomicWallet and Guarda . All wallets are very intuitive. Exodus, Atomic Wallet and Guarda is available on desktop for Windows, Mac and Linux, as well as on mobile for both iOS and Android. If you want more information you can read my Exodus, AtomicWallet and Guarda review.
Step 2 – Find an BinaryX (BNX) Exchange
Buy BinaryX (BNX) through Binance
- Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.
Buy BinaryX (BNX) through Kucoin
- Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.
Buy BinaryX (BNX) through Crypto.com
- Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos.The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.
Buy BinaryX (BNX) through Gate.io
- Gate.io is a crypto exchange founded in the fall of 2017. The platform is a part of Gate Technology Inc corporation, and has a registration address in Virginia, USA. The platform does not have an official license. Its interface is available for working in three versions: English, Chinese and Japanese.
Buy BinaryX (BNX) through MEXC
- Founded in 2018, MEXC Global is known as the exchange of high performance and mega transaction matching technology. The team at MEXC Global are some of the first movers and pioneers of financial and blockchain technology. Currently, MEXC Global caters to 10 M+ users in more than 170 countries around the world and we have just started.
Step 3 – Withdraw Your BinaryX (BNX)
Once you decide on an exchange, open an account and buy your BinaryX . Make sure to withdraw the BinaryX from the exchange to your personal wallet.
Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past).
OVERVIEW
What is BinaryX ($BNX)?
BinaryX ($BNX) is a cryptocurrency that powers the BinaryX platform. BinaryX is a company that offers a range of blockchain-based services, including hardware wallets, exchange, and staking. BinaryX ($BNX) was created to support these services and to provide an incentive for users to use the platform.
BinaryX ($BNX) is built on the Ethereum blockchain and is an ERC-20 token. This means that it can be stored in any Ethereum-compatible wallet and can be traded on any exchange that supports ERC-20 tokens.
The primary use case for BinaryX ($BNX) is to provide users with a discount when they use BinaryX’s services, such as purchasing a hardware wallet, trading on the exchange, or staking their cryptocurrencies. Users who hold BinaryX ($BNX) can benefit from reduced fees, increased staking rewards, and other discounts on the platform.
Additionally, BinaryX plans to introduce other use cases for BinaryX ($BNX) in the future, such as governance and voting rights for platform decisions.
Overall, BinaryX ($BNX) serves as the backbone of the BinaryX platform and provides users with a range of benefits for holding and using the token.
BinaryX ($BNX) is the platform cryptocurrency for the BinaryX ecosystem, which includes the DAO and all products & games utilizing $BNX. BinaryX began as a decentralized derivative trading system. Recognizing the burgeoning popularity of GameFi and interest in the metaverse games, the team gradually evolved into developing decentralized video games and is now fully transitioning to be a GameFi platform offering IGO services to bridge Web2 developers to Web3.
Some of the services provided by BinaryX includes infrastructural support, a DAO governance system, and community building to scale promising gamefi projects and bring more innovation to the blockchain gaming sector.
Who Are the Founders of BinaryX?
Information about the founders of BinaryX is not readily available, and the company has not publicly disclosed the names of its founders. However, BinaryX is a registered company in the United Kingdom, and the company’s website lists a team of professionals who are working on the project.
The BinaryX team includes developers, designers, marketers, and customer support representatives, who are all working towards the company’s goal of providing secure and user-friendly blockchain-based services, including hardware wallets, exchange, and staking.
The team is focused on building a platform that offers high-level security, usability, and functionality. The company’s mission is to make blockchain technology accessible to everyone, and they believe that their platform can help achieve this goal.
While the founders of BinaryX may not be publicly known, the company is transparent about its team and has an active social media presence, which allows users to stay up-to-date with the latest developments and news about the project.
Despite the fact that Binance Labs backed the project itself, the developers behind BinaryX are anonymous. However, during an interview with Binance, they revealed that they were a team made up of international backgrounds and a number of senior blockchain experts.
Supposedly, the team members have experience building centralized and decentralized exchanges and managing derivative assets of more than $100 million.
What makes BinaryX Unique?
There are several features that make BinaryX unique compared to other hardware wallet providers:
Multi-Asset Support: BinaryX supports multiple cryptocurrencies, making it a versatile solution for cryptocurrency holders. In addition to the most popular cryptocurrencies such as Bitcoin and Ethereum, BinaryX supports a wide range of altcoins, including Ripple, Litecoin, and Dash.
Mobile App: BinaryX provides a mobile app that allows users to manage their assets on-the-go. The app is available for both iOS and Android devices and offers a user-friendly interface for managing cryptocurrencies.
High-Level Security: BinaryX takes security seriously and has implemented several measures to ensure that users’ assets are protected. The device features a tamper-resistant design, and private keys are stored in an isolated environment within the device. Additionally, multi-signature authentication ensures that transactions are only approved when authorized by multiple parties.
Competitive Pricing: BinaryX hardware wallets are competitively priced compared to other hardware wallet providers, making it an affordable option for cryptocurrency holders.
User Experience: BinaryX offers a seamless user experience, with an intuitive interface and easy-to-use mobile app. The device is also lightweight and portable, making it easy to carry around.
Overall, BinaryX’s combination of multi-asset support, mobile app, high-level security, competitive pricing, and user experience makes it a unique and attractive option for cryptocurrency holders.
The developer team on BinaryX aims to redefine what gaming looks like in the GameFi industry. The key focus for BinaryX is to create a sustainable economic model for our games, building upon the existing ecosystem and adding more fun gaming experiences in the space.
As a GameFi platform, BinaryX has made CyberDragon and CyberArena, two top games on the BNB Chain.
In September 2022, BinaryX launched CyberChess, an auto battler strategy game that is inspired by the game Autochess. CyberChess has a firmer structure, greater playability, and the most complete mechanism of any game that BinaryX has ever done, and signifies the transition from play-to-earn, to play-and-earn.
To further add value as a GameFi industry player, BinaryX is in the midst of becoming an IGO platform that provides a comprehensive suite of solutions to incubate, enable, and empower aspiring GameFi developers. This comes in the provision of better and more tailored resources for developers that are facing roadblocks in their project runway. At the time of writing, BinaryX has just launched its first IGO project — SHIT IGO, with more IGOs to come.