How to Buy Mdex (MDX) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has Mdex, and is trustworthy!

You can find our top 3 exchanges for buying Mdex here, alternatively you can also check our comparison of the best crypto exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy Mdex

And of course, the final step is to find Mdex on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy Mdex (MDX)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell Mdex

  1. Sign into the exchange
  2. Find where you stored your Mdex, either on a hardware wallet or on the exchange.
  3. Transfer your Mdex to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell Mdex.
Businessman looking at crypto trend

Considerations when looking to buy Mdex.

MDEX, a decentralized trading protocol, was launched in January 2021.

MDEX (automated market making) is a decentralized exchange protocol. It operates on the idea of fund pools and shares some similarities with standard DEXs. However, it distinguishes itself from other DEXs by using a dual chain model that is based on both the Ethereum network (ETH) and the Huobi Ecological Chains (HECO), which allows it to access the liquidity of the Ethereum eco-system.

MDEX is a trading platform that was built on HECO. It has an estimated cost of token swaps of $0.001 per trade and a transaction speed up to three seconds.

While the vast majority of DeFi assets are ERC-20 assets, it faces problems with high gas fees and slow transaction speeds as it transitions to Ethereum 2.0.

If they want to see rapid adoption, most newly-developed protocols consider the scalability factor when choosing blockchain networks. Uniswap had at least an advantage as it was launched before the Ethereum network became congested. Some even claim that Uniswap is the cause of the network's congestion. However, Uniswap could see its market share change quickly if second-layer solutions don't get implemented in the timeframe and produce the expected results.

The Huobi Ecological Chain-based Mdex has this unique characteristic: it is based on a chain which aims to avoid scaling problems.