How to buy Conflux (CFX) in Australia
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How to buy Conflux
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Conflux.
- Open an account on an exchange that supports CFX.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Conflux.
- Buy Conflux.
Complete your Conflux purchase and then find the best wallet to store CFX.
What is Conflux?
Conflux Network is a high-throughput blockchain based on a unique Proof-of-Work (PoW) consensus mechanism. The network was created by Turing Award recipient Dr Andrew Yao and is the only state-backed public blockchain operating in China. It was built with the aim of high throughput, fast confirmation and to be utilised by global communities and economies.
The blockchain can process 3,000-6,000 transactions per second (tps), which is a transaction rate much higher than blockchains such as Bitcoin and Ethereum. The PoW mechanism, called Tree-Graph, optimises security and scalability without compromising decentralisation.
CFX is the native token of the Conflux Network and is at the core of the network’s ecosystem. The CFX token was designed to provide several economic benefits and promote participation in the network by rewarding behaviours that contribute to optimum functionality. Each token consists of smaller units known as Drips. These are comparable to Satoshis on Bitcoin. Drips are used to pay for transaction fees on the network. Any fees are collected and awarded to miners or those that maintain the Conflux Network.
Conflux (CFX) is the 204th largest cryptocurrency in the world by market cap, valued at $351,181,342. The current price of Conflux is $0.346755, which is -0.843% lower than yesterday. Prices have ranged between $0.358339 and $0.342954 over the past 24 hours. All prices are listed in US dollars and accurate as of October 18, 2021 03:10 UTC.
Where to buy ConfluxFind an exchange to buy, sell and trade CFX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Conflux at a glance
|Total CFX supply||5,166,913,180|
|All time high||US$1.70|
|Notable team members||Fan Long, David Chow, YuanJie Zhang, Ming Wu|
|Partnerships||Oasis Foundation, Stablecorp, BCW Group, LISSX, ZIP|
|Token uses||Utility token|
Conflux price performance over time
How to sell Conflux
You can cash out your CFX with the same exchange you bought it through:
- Sign in to the exchange you have CFX on.
If you store your Conflux in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of CFX you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Conflux.
What to consider when buying ConfluxCryptocurrency assets can be extremely volatile in price. An investor should become comfortable with all associated risks before making a purchase. Here's what to consider before buying CFX:
- Supply: At the time of writing, CFX has a circulating supply of approximately 8.4 billion tokens. There is no cap on maximum supply. The network has a certain level of built-in inflation whereby more CFX is gradually added to the total circulating supply over time.
- Staking: The CFX tokens on the Conflux Network are either liquid or staked. Liquid tokens can be transferred and used freely. Staked tokens are locked within the network to assist with validation and security. Staked tokens earn rewards in return for removing them from the liquid market. Staking is required to gain access to voting rights via the community governance protocol.
- Scalability: The unique PoW algorithm provides high throughput without sacrificing decentralisation. The 3,000-6,000 tps makes it one of the best blockchains for scalability.
- Multi-chain interoperability: There are now multiple blockchains globally. To transfer assets across chains usually requires high gas fees. The Conflux Network provides true multi-chain interoperability, allowing users to convert assets across the Binance Smart Chain (BSC), OKEx Chain and Ethereum. This is facilitated by the network’s Shuttleflow service. This also means that the Conflux Network could be applicable to developers looking to create multi-chain decentralised applications.
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