GMX (GMX) crypto asset is now listed on INDODAX on the Arbitrum network.

 

Interested in GMX (GMX) and how to buy it? Learn more before investing by reading below!

 

About GMX (GMX) 

 

GMX is a well-known decentralized exchange focused on perpetual futures trading. They launched the platform on the Ethereum Layer 2 network Arbitrum in late 2021 and have since expanded to Avalanche. GMX gained popularity due to offering leverage trading of up to 30x of the deposited collateral, a relatively high amount. GMX provides decentralized exchange capabilities while also giving leverage trading options. This combination is similar to merging the functionality of DeFi exchanges like Uniswap with the leverage features offered by exchanges such as Binance. Some of GMX’s key features include leverage trading of up to 30x, reducing liquidation risks through the use of price oracles, lower costs due to minimal spreads and zero price impact on orders, as well as a user-friendly interface without the complexity of margin, debt, and collateral. They also have a presence across multiple networks like Arbitrum and Avalanche.

 

For more information, visit the official website of GMX (GMX) at https://gmx.io/#/

 

Problem Solving GMX (GMX) 

GMX aims to solve several issues with previous decentralized exchanges by integrating Chainlink price oracles and simplifying its trading interface. One of the major problems is liquidation risks caused by sudden price fluctuations in the market. GMX uses price data from multiple exchanges to mitigate this risk. Another issue is protocol performance being affected by transaction execution speed. GMX integrates Chainlink Data Streams to accelerate price data delivery. High trading fees were also an issue that GMX tries to address by offering small spreads and zero price impact. Finally, complex interfaces are simplified to make GMX more user-friendly, especially for new traders. Through these measures, GMX aims to become a more reliable, fast, affordable and user-friendly decentralized exchange.

 

Crypto Asset Ranking Information

As of August 23, 2024, the CoinMarketCap ranking of GMX (GMX)  is #184, with a market cap of RP 410,927. It has a circulating supply of 9,638,067 GMX and a maximum supply of 9,638,067 GMX.

 

How to Buy GMX (GMX) on INDODAX 

Now that you’ve discovered more about GMX (GMX) , you can start investing in GMX (GMX)  easily and securely on INDODAX. 

You can access INDODAX via the INDODAX Mobile App, which can be downloaded from the App Store or Google Play Store, or by visiting the INDODAX website.

To buy GMX (GMX)  crypto asset on INDODAX, follow the steps below:

 

1. Register on INDODAX if you are not yet an INDODAX Member or login to your INDODAX account
2. Then, deposit by reading how to make a deposit below
3. After making a successful deposit and the balance has been credited to your INDODAX account, visit the INDODAX market
4. Search for GMX in the IDR market, and click to visit the crypto asset page
5. On the crypto asset page, enter the balance and desired GMX purchase price, or buy instantly at the current price
6. Next, you should wait for the price to increase for some time
7. Once the price increases, your assets can be sold at a higher price with the Instant method
8. If you use the Limit method to sell, make sure to place a sell order after purchasing the asset and enter a higher sell number

 

INDODAX also offers other features than trading, such as INDODAX Earn which allows you to lock crypto assets and earn interest rewards, and INDODAX OTC for large crypto transactions in a more personalized and secure way.

 

Let’s invest in GMX (GMX) on INDODAX now!