How to buy ChainX (PCX) in Australia
Learn how to buy ChainX (PCX) on 2+ crypto exchanges in our step-by-step guide.
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You can buy ChainX (PCX) on a cryptocurrency exchange like KuCoin. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. ChainX is a blockchain platform designed to help promote asset interoperability across a number of different blockchains. Here's how to buy ChainX.
How to buy ChainX in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy ChainX is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit $ using the payment method that best suits you – cryptocurrency, PayPal, wire transfer and credit or debit card payments are widely accepted.
- Buy ChainX You can now exchange your funds for ChainX. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your ChainX to your personal wallet.
Where to buy ChainX in Australia
Find an exchange to buy, sell and trade PCX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy ChainX?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy ChainX?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading ChainX.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing PCX with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy ChainX with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy PCX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy PCX on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase PCX by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for PCX on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy ChainX?
The easiest way to buy PCX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying PCX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of ChainX has been performing recently.
Best ChainX wallets to store your PCX
You can keep your PCX on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Is ChainX a good investment?ChainX, or PCX, like any other altcoin, should be carefully evaluated before an investment decision is made. To help you with that decision here are some factors to consider:
- Interchain operability: Thanks to the use of Substrate chains, the platform is able to provide seamless compatibility with the Polkadot network. Not only that, but the platform also utilises other bridges that allow ChainX to facilitate cross-chain operations. This could be a promising area of future development for the cryptocurrency industry.
- Widespread availability: As a result of ChainX’s growing popularity over the last couple of years, PCX is now available across a number of major mainstream cryptocurrency exchanges including KuCoin, Gate.io and CoinW. Liquidity is also relatively high.
- Highly secure: By using a decentralised network, ChainX is able to facilitate cross-chain exchanges in a totally peer-to-peer fashion, thereby eliminating the scope of any human manipulation or fraud.
- DEX Module: The platform comes complete with a fully functional cross-asset transaction module that is designed to help in the circulation of various digital currencies across different ecosystems. There are not many competitors in this space, but true demand has not yet been proven.
- All-in-one ecosystem: ChainX features an inter-chain transaction verification system as well as other niche features, such as an on-chain mintage program and deposit and withdrawal programs. The company also hosts a trusteeship program that provides independent developers with technical and monetary support.
- Novel consensus mechanism: The platform utilises a hybrid Proof-of-Stake consensus mechanism — referred to as the “Babe + Grandpa” set-up — wherein all block generation activities are maintained separately from any transaction confirmation/validation-related matters.
- Competition: ChainX is not the only blockchain looking to tackle the interoperability of blockchains. While the approach may be novel, the project will need to continue innovating to take market share away from Harmony and Cosmos.
Additional information about ChainX can be found using our PCX analysis tools.
Today's ChainX price versus ATH
Compare today's price of ChainX ($0.675854 USD) against its all-time-high price of $17.54 USD on 29 March 2021. The closer the bar is to 100%, the closer PCX is to reaching its ATH again.
ATH date: March 29, 2021
ChainX ATH: $17.54 USD
How to trade, convert or sell ChainXYou can convert or sell your PCX with the same exchange you bought it through:
- Sign in to the exchange you have PCX on.
- If you store your ChainX in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of PCX you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of ChainX.
- Complete your transaction and move your PCX to a wallet for storage.
Disclaimer: Cryptocurrencies, including ChainX, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of PCX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the ChainX or any other cryptocurrency discussed.
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