How to Buy GMX (GMX)
As outlined above, the best way to buy GMX is through a licensed and regulated trading platform like Uphold. Their platform is FCA and FinCEN regulated in the USA and throughout Europe to offer secure a secure crypto trading environment. Uphold has GMX as well as 250 of the other top DeFi and crypto assets tokens available on their exchange.
Here is a simple 4-step guide to getting started:
- Visit the Uphold platform and create your account.
- Deposit funds via Bank Transfer, Debit Card, Credit Card, Apple Pay or Google Pay in your chosen fiat currency.
- Find GMX (GMX) on their cryptocurrency token list.
- Input the amount of GMX you want to buy and execute your trade.
Why is GMX a Good Investment in 2023?
GMX has seen explosive growth in 2022 and 2023 and has become the most popular decentralized perpetual contracts trading platform in DeFi. The protocol initially launched on Arbitrum and has since expanded to Avalanche and has attracted over $100 billion in trading volume with 230,000+ total active users.
Our team expects GMX to continue growing as there is growing mistrust around centralized trading platforms after the collapse of FTX, Celsius and BlockFi. This will result in a continued tailwind for non-custodial solutions like GMX that provide their services on-chain in a transparent and verifiable manner.
How to Stake GMX
Once you have purchased GMX, you may want to stake it directly onto the protocol to earn yields that come from the revenue the protocol earns. The platform currently offers an 8.69% APR that is paid out in ETH and escrowed GMX to users for staking their tokens to the platform.
In order to do this, all users need to do is create a MetaMask Wallet, send the GMX tokens to their MetaMask Wallet and stake them via GMX Earn.
If you are interested in investing in GMX, the fastest growing DeFi platform on Arbitrum and Avalanche, Uphold is the recommended platform to buy, sell, trade and stake GMX tokens. With their FCA and FinCEN regulated platform, investors can be assured of a secure and reliable crypto trading environment.
With the growing mistrust of centralized trading platforms, the on-chain and transparent nature of GMX provides a viable solution for those looking for a decentralized trading platform. Additionally, staking your GMX tokens can earn you yields in ETH and escrowed GMX, making it a potentially lucrative investment option.