How to buy AdEx
Your guide to AdEx and how you can buy and sell the ADX cryptocurrency
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AdEx is a decentralised ad exchange built on the Ethereum network. Built with the aim of disrupting the existing online advertising landscape and overcoming problems such as fraud and privacy concerns, AdEx is designed to provide advertisers, publishers and consumers with a secure and transparent platform.
The AdEx token (ADX) is used on the platform to buy or sell advertising time. Read on to find out exactly how the exchange and the token work, and how you can buy ADX.
Quick guide: How to buy ADX
- Register for an account with a cryptocurrency exchange like Swyftx.
- Verify your account.
- Go to the deposits section
- Select your preferred payment method and confirm.
- Go to the buy section and select the cryptocurrency you want to buy.
- Enter how much you want to buy, or how much you want to spend.
- Double check the details and confirm your purchase.
This is our quick guide to just one way to buy ADX. Compare some other options in the table below.
Where to buy, sell or trade ADX in Australia
You can buy ADX on a wide range of cryptocurrency exchanges, including the following:
A step-by-step guide to buying ADX
If you want to buy ADX, here’s an example of how to do it:
Step 1. Register for an account with CoinSpot
You can exchange Australian dollars (AUD) for ADX tokens on local cryptocurrency exchange CoinSpot. You’ll need to register for a free account by entering your email address and creating a password. In order to deposit funds into your account and start trading, you’ll also need to supply your full name, contact details and photo ID.
Don’t forget to activate two-factor authentication on your account for an extra layer of security.
Step 2. Deposit funds into your account
From your account dashboard, click the “Deposit AUD” link and enter the amount of AUD you want to transfer. If you’d prefer to pay in cash, you can deposit cash at a newsagency via Blueshyft.
Note: In this example it’s possible to exchange AUD directly for ADX. However, many cryptocurrency exchanges don’t allow you straight swaps between fiat currency and cryptocurrency. If this is the case on your chosen exchange, you’ll first need to acquire a cryptocurrency that’s available in a pairing with ADX, such as Bitcoin (BTC) or Ethereum (ETH), and then exchange it for ADX.
Step 3. Buy ADX
Click the “Buy/Sell” link at the top of the page and search for “ADX”. Next, click on “Buy ADX” and specify either the amount of AUD you want to spend or the amount of ADX you want to purchase. Be sure to review the details of your transaction, including the amount of ADX you’re buying and the total transaction cost, before completing your purchase.
How to sell ADX
If you want to sell your ADX tokens, search for “ADX” from the “Buy/Sell” menu and click on “Sell ADX”. The process you’ll need to follow after that is essentially the same as the buying process outlined in step 3 above. However, you may not be able to immediately exchange ADX for the currency you want.
Which wallets can I use to hold ADX?
Rather than storing your crypto holdings on an exchange, the most secure way to hold your ADX is in a secure wallet. ADX is an ERC20 token on the Ethereum blockchain, so you’ll need to use a wallet that’s compatible with these types of tokens, such as the following:
How AdEx works
First announced in 2016 and based in Bulgaria, the AdEx network features several layers to provide a secure, decentralised ad exchange. The first layer is the ad exchange itself, which is built on Ethereum smart contracts.
On top of the exchange, the company is building dapps for the publisher portal, the advertiser portal and the AdEx profile for end users. All of those dapps will be browser-based and accessible online, but hosted by AdEx. The end-user profile will give people the opportunity to understand and control the ads delivered to them.
According to the team behind AdEx, the network is designed to solve a range of problems with online advertising, including the following:
- A lack of consumer consent and control over the ads they are shown
- Online privacy concerns and the misuse of personal data
- A lack of bidding transparency for advertisers
- Unclear and misleading reporting of online ad campaigns
- Advertising fraud
The AdEx beta is scheduled for release in February 2018. The AdEx token (ADX) will be used internally to buy or sell advertising space and time within the AdEx ecosystem. A token sale was held in June and July 2017 and raised 40,000 ETH.
Key things to consider if you’re thinking about buying ADX
Cryptocurrencies are complex, speculative and risky, so it’s essential to understand exactly how they work and all the risks involved before you buy. If you’re thinking of purchasing ADX, make sure you take the following factors into account:
- Supply. According to CoinMarketCap, at the time of writing (1 February 2018), the circulating supply of ADX was 60,248,315 out of a total supply of 100,000,000 ADX.
- White paper. For more details about the technology behind AdEx, how the platform works and the function of the ADX token, check out the company’s detailed white paper.
- Token use. The white paper explains that advertisers will be able to create ads, and then place bids for them in the AdEx ecosystem, setting the bid in ADX tokens. The advertisers may bid for a specific number of impressions, clicks or conversions. Once a publisher accepts a bid, the tokens will be frozen until the publisher proves that they have completed the goal, at which time the tokens will be transferred to the publisher’s balance.
- Possible new token. The white paper mentions the possible addition of a second token, the ADXToken2 (ADXT). This upgradable ERC20 token would feature an inflation model designed to improve the token's scalability and avoid too much scarcity.
- Still in development. Like many other cryptocurrencies, ADX will be used on a platform that is still in development. This means there are several unknowns about the user-friendliness and robustness of the platform that can only be answered once it has been fully released.
- Partnerships. It’s also a good idea to stay up to date with news of any partnerships and commercial arrangements a crypto has lined up. For example, AdEx has partnered with NEO and video entertainment platform Stremio.
- Team. AdEx co-founders Ivo Georgiev and Dimo Stoyanov founded Stremio, and the video entertainment hub has almost 5 million active users.
- Potential market. Digital advertising spend exceeded TV ad revenue for the first time ever in 2016, attracting revenue of US$72.5 billion.
- Competition. AdEx isn’t the only blockchain-based tech company that aims to disrupt the online advertising industry. Basic Attention Token (BAT), Qchain and adChain are just some potential competitors you’ll need to be aware of.
You’ll need to consider these and many other factors to determine whether you should buy ADX.
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