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What is GMX coin and how does it work?

by Financial Economy

GMX is basically a decentralized derivatives exchange. This exchange is used in Avalanche Blockchain network and Arbitrum One Layer-2 scaling solution. The protocol supports cryptocurrencies such as ETH, WBTC, LINK, UNI, DAI, USDC, USDT and FRAX. Information about some topics that what is GMX coin, how does it work, how to buy it, on which exchange, how much is it, etc. is in continuation of the article. You can browse here for information about MetagamZ (METAG) coin.

What is GMX coin and how does it work?

GMX also allows users to buy and sell BTC, ETH and other popular cryptocurrencies directly from their crypto wallets. In doing so, it uses Blockchain technology and works decentralized. A GMX user can do what he does on a centralized exchange. Accordingly, the platform supports spot swaps and provides perpetual futures with up to 50x leverage. However, they trade through their wallets, with higher security than a centralized exchange.

GMX coin is a utility and governance token. Holders of this Arbitrum-based token vote on proposals that will help decide the future direction of GMX. Thus, they provide decentralized management of the network. Cryptocurrency also works with the Proof-of-Stake mechanism. Thanks to this mechanism, users can get high returns by staking GMX coins. However, all gas fees that the platform receives from users are distributed among token holders.

Which exchange is GMX coin on?

GMX Token is listed on some cryptocurrency exchanges such as Binance, BTCEX, Bitrue, MEXC, BingX, etc.

How to buy GMX coins?

GMX coin can be purchased from listed some cryptocurrency exchanges, like mentioned above. However, before trading, it is necessary to make sure that the exchange and the crypto project are “RELIABLE”. It is so important point for investors.

GMX token supply!

Total supply of GMX token is 8.648.200 GMX.

GMX token price!

As of December 7, 2022, at the time of the writing, 1 GMX coin price is around $50,61 (because of the volatility on crypto market the price can change instantly).

Caution: The information contained in this content is for general informational purposes only. It is not investment advice.

For information about cryptocurrency: https://en.wikipedia.org/wiki/Cryptocurrency

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