GMX is a decentralized spot and perpetual contract trading platform that supports low transaction fees and zero-price impact trades, allowing users to leverage up to 30x in their trades.
What Is GMX Coin (GMX)?
This protocol was first launched on Arbitrum in September 2021 before expanding to Avalanche in early 2022. Trading is supported through a unique multi-asset liquidity pool that generates rewards from market making, exchange fees, leveraged trading (spreads, funding fees, and liquidations), and asset rebalancing redirected to liquidity providers.
Ultimately, two key components contribute to the functioning of cryptocurrency:
- Decentralized Finance (DeFi): DeFi eliminates the need for banks, allowing people to access financial services or simply store their money independently.
- Crypto Exchanges: Crypto exchanges facilitate the buying, selling, and swapping of cryptocurrencies. The value of cryptocurrencies appreciates as investors trade them, driven by supply and demand laws.
Some platforms take things to the next level, and one of them is GMX. This system aims to merge advanced decentralized finance with the concept of crypto exchanges. GMX is currently deployed as a decentralized derivatives exchange on Arbitrum One Layer 2 (L2) scaling solution and the Avalanche blockchain.
The protocol offers transactions for cryptocurrencies like ETH, WBTC, LINK, UNI, DAI, USDC, USDT, and FRAX.
Perpetual swap markets allow investors to take long or short positions on main tokens with leverage of up to 30x. This is achieved not through an order book but via a shared liquidity mechanism called GLP, which acts as a pool of all tradable assets. Trades are executed at the current oracle price (secured by Chainlink 
$15), theoretically with unlimited depth.
Where to Buy GMX Coin?
GMX Coin can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. GMX Coin is available on Binance with trading pairs such as GMX/BTC, GMX/BUSD, and GMX/USDT.
To purchase GMX, you first need to sign up for an account on Binance. Once the registration is complete, you should transfer cryptocurrency or fiat currency to your Binance wallet. After the transfer is completed, you can buy GMX Coin using any of the three mentioned pairs. For purchasing through the GMX/USDT trading pair, go to the interface of this pair. In the limit tab, enter the desired amount to buy. Once the amount is entered, execute the purchase order using the “Buy GMX” command.
