How To Buy GXChain (GXC)?
A common question you often see on social media from crypto beginners is “Where can I buy GXChain?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process.
Step 1: Create an account on an exchange that supports GXChain (GXC)
First, you will need to open an account on a cryptocurrency exchange that supports GXChain (GXC).
We recommend the following based on functionality, reputation, security, support and fees:
1
Binance
Fees (Maker/Taker) 0.075%*-0.1%*
Cryptocurrencies
Available for Trade 500+
Sign-up bonus
10% reduced trading fees*
Available in
Europe, Asia, Oceania, Africa
2
MEXC
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1500+
Sign-up bonus
10% reduced trading fees & up to $170 in USDT vouchers*
Available in
North America, South America, Europe, Asia, Oceania, Africa
3
Gate.io
Fees (Maker/Taker) 0.2%*-0.2%*
Cryptocurrencies
Available for Trade 1000+
Sign-up bonus
Up to $100 in USDT vouchers*
Available in
Europe, Asia, Oceania, Africa
In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.
Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.
Step 2: Deposit funds into your account
Many cryptocurrency exchanges will allow you to purchase GXChain (GXC) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.
Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.
Step 3: Buy GXChain (GXC)
This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for GXChain (GXC) or GXChain (GXC) trading pairs. Look for the section that will allow you to buy GXChain (GXC), and enter the amount of the cryptocurrency that you want to spend for GXChain (GXC) or the amount of fiat currency that you want to spend towards buying GXChain (GXC). The exchange will then calculate the equivalent amount of GXChain (GXC) based on the current market rate.
Note: Make sure to always double-check your transaction details, such as the amount of GXChain (GXC) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.
How to create a Binance account
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Step 1: Go to the Binance website.
Step 2: On the registration page, enter your email address, and create a password for your account.
Then, read and agree to the Terms of Service and click “Create Account”.
Note: Your password must be a combination of numbers and letters.
It should contain at least 8 characters, one UPPER CASE letter, and one number.
Step 3: Complete the Security Verification.
Step 4: The system will send a verification code to your email. The verification code is valid for 30 minutes. If you can’t find the email in your inbox, check your other mail folders as well, or click “Resend Email” to resend.
How to complete KYC (ID Verification) on Binance
Step 1: Log in to your Binance account and click “User Center” and then “Identification”.
Step 2: click “Start Now” to verify your account.
Step 3: Select your country of residence.
Ensure that your country of residence is consistent with your ID documents.
Step 5: Enter your personal information and click “Continue.”
You won’t be able to change it once confirmed.
Refer to the respective options offered for your country.
Step 7: Follow the instructions to upload photos of your document. Your photos should clearly show the full ID document.
Do not wear hats, glasses, or use filters, and make sure that the lighting is sufficient.
Once your application has been verified, you will receive an email notification.
How to buy cryptocurrency on Binance
Step 1: Log in to your Binance account and click “Buy Crypto” and then “Credit/Debit Card”.
Step 2: Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. When you have selected the amount you wish to spend then press “Continue”.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: Click “Add New Card”. Then enter your credit card details and your billing address.
Step 4: Check the payment details and confirm your order within 1 minute. After 1 minute, the price and the amount of crypto you will get will be recalculated. You can click “Refresh” to see the latest market price. You will then be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.
How to Conduct Spot Trading on Binance
Step 1: Log in to your Binance account.
Click on “Classic” under “Trade” on the top navigation bar.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can place a “Market Order” to set the buying/selling price automatically.
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How to create a Gate.io account
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Step 1: Go to the Gate.io website.
Step 2: Choose your username, your email address and your password. Then check “I certify that I am 18 years of age or older, and I agree to the Gate.io User Agreement Privacy Policy” and click “NEXT”.
Step 3: Set your fund password and click “Create account”.
Note: Your fund password must contain at least 6 characters and can not be the same as your login password.
Step 4: An activation email will be sent to your email address. Complete the rest of the registration process by following the instructions in the email to activate your account. Once this is done done, click “Email activated, please log in”.
How to complete KYC (ID Verification) on Gate.io
In order to ensure the safety of your assets, and to reduce fraud, money laundering, blackmail, and other illegal activities, Gate.io makes it mandatory that all users obtain KYC ID Verification. Only after your account has obtained KYC ID verification, can you withdraw funds or use credit cards or debit cards to buy cryptocurrencies.
Step 1: Log in to your Gate.io account.
Place your cursor on the top-right profile icon and go to “KYC (ID Verification)”
Step 2: Click “Individual (Verify now)”
Step 3: Select your country, input your full legal name (twice), fill in your ID information, upload photos of both sides of your ID card, and a photo of you holding your ID together with your User ID (UID) for Gate.io. You will see your User ID by placing the cursor on the top-right profile icon on the main page. Make sure everything is filled in correctly and then click on “Confirm and Submit”.
Step 4: After you have submitted all the requested information, you will see the pending approval.
Approval can take anywhere from a few hours to a few days to complete.
Once the KYC is approved, you’re ready to make your first cryptocurrency purchase.
How to buy cryptocurrency on Gate.io
Step 1: Log in to your Gate.io account.
Then in the Menu Bar at the top of the page, click “Buy Crypto” and select “Credit Card”.
Step 2: Enter the amount you wish to spend in the “Buy with Fiat Currency” tab and select the cryptocurrency that you want to buy under the “Currency Purchased” field. Then select one of the “Service Providers” below and click the “Place Order” button to enter the confirmation page.
Note: You might not be able to purchase every cryptocurrency directly using fiat, if you’re looking to purchase something that isn’t offered in the currency list on this page, then you will want to purchase USDT. We will then show you how to exchange that on the spot-market for the cryptocurrency that you want in the next section of this guide.
Step 3: On the confirmation page, select “Buy Crypto” or the “Create Order” button to complete the payment.
Note: To ensure a quick and secure way of receiving the order, users might need to conduct an additional Identity Verification (KYC) with a third-party service provider. Once successfully verified, the service provider will immediately transfer the cryptocurrencies to your Gate.io account.
How to Conduct Spot Trading on Gate.io
Step 1: Log in to your Gate.io account.
Click on “Spot Trading” under “Trade” on the top navigation bar.
You can either choose “standard” or “professional” version. This tutorial uses the standard version.
Step 2: Search and enter the cryptocurrency you want to trade.
Step 3: Set buying/selling prices and buying/selling amount (or exchange total). Then click on “Buy”/”Sell”.
(Note: The percentages under the “Amount” box refer to percentages of the total account balance.)
Step 4: If you don’t want to set a manual price, you can click on the last prices on the order book to set the buying/selling price automatically.
Step 5: Confirm the price and amount. Then click on “Place Order” to place the order, followed by “Confirm Order” to confirm it.
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For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out.
Simplecryptoguide.com
What Is GXChain (GXC)?
GXChain is a fundamental blockchain for the global data economy, designed to build a trusted data internet of value. Benefiting from DPoS based Graphene underlying architecture, GXChain possesses functions including G-ID, GVM, BaaS, and Blockcity, which are convenient for application development. GXChain based DApp-Blockcity has reportedly more than two million verified users and provides data for other DApps and strategic partners. GXChain launched a decentralized data marketplace and serves hundreds of Chinese enterprises.
The GXChain blockchain requires that users pay 3 specific fees for using a smart contract:
- Basic fee – a fixed amount
- Ram Fee – proportional to ram usage
- CPU fee – calculated by CPU run-time GXChain enables users to create a digital identity on GXChain that records on-chain data, user behavior, and acts as a login for applications built on GXChain.
GXChain history and progress
GXChain has evolved rapidly since its inception, which started from a decentralized data marketplace (commercialized in September 2017) to a fundamental blockchain ecosystem. The ecosystem is currently serving millions of users and software developers. In 2018, the company released Blockcity, a mobile app that improved upon the GXChain wallet and enabled access to the GXChain. That following May, the firm developed a Blockchain as a Service platform that utilizes the GXChain. In 2019 GXChain has launched the staking mechanism and updated the voting mechanism from the one-vote multi-vote to one-token one-vote, making each vote of the public chain governance more valuable. More recently, GXChain has claimed the team is exploring new blockchain infrastructures to implement that are highly standardized and more developer friendly.
GXChain combines “On-Chain” and “offchain” governance, simultaneously putting people and computational code into the governance system, realizing decentralization, robustness, and efficiency. Every GXChain asset holder has the right to participate in the decentralized governances. All GXC holders could vote to determine the future direction, strategy, and operation of the GXChain ecosystem.
What is Blockcity?
Users can interact with the GXChain via “BlockCity” a mobile app that provides a GXChain wallet and access to the GXChain. Within the mobile app, users can upload, store, and exchange their data with other users.
GXChain consensus mechanism
The GXChain ecosystem maintains 3 distinct parties that participate in the consensus process:
- TrustNode: a node that is responsible for validating blocks and verifying transactions every hour. Similar to the EOS blockchain, there are 21 TrustNodes that are voted in by shareholders as validators.
- Committee: The top 11 TrustNodes are elected as GXChain committee members and are responsible for implementing network upgrades and changes.
- Shareholders: Individuals or entities that hold GXC (GXChain’s native token) and are able to vote for which TrustNodes are considered as part of the 21 validators.
GXChain development updates in 2023
GXChain (GXC) has undergone several developments and continues to evolve as a significant blockchain network focused on data exchange and decentralized applications. Here are the key highlights of GXChain’s developments in 2023:
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GXChain’s Core Features: GXChain stands out as an industrial-level, permissionless blockchain that aims to create a trusted data internet of value. It supports a wide range of applications, not just limited to smart contracts or blockchain as a service (BaaS) but also offers unique services like ID verification, multi-dimensional data, KYC, and swift login. This makes GXChain versatile for various business applications.
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Current Price and Market Performance: As of recent data, GXChain’s price was around $0.33 USD, with a circulating supply of 75 million GXC out of a total supply of 100 million. The all-time high (ATH) for GXC was $10.61, indicating a significant potential for value appreciation.
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Blockcity Application: A major development on GXChain is Blockcity, a mobile dApp that consolidates user data into an encrypted file. This file can then be used to earn GXC, providing a practical use case for the platform’s participants. Blockcity is known for being one of the most active blockchain communities globally, with a substantial user base.
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Tokenomics and Consensus Mechanism: GXC is mined using a Delegated Proof of Stake (DPoS) consensus mechanism, ensuring efficient transaction processing and network security. The DPoS mechanism is performed on a Graphene layer, where delegates are elected to run GXChain TrustedNodes. These nodes process transactions and generate fee and block rewards.
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Strategic Partnerships and Use Cases: GXChain has formed several strategic partnerships, notably with Chinese companies, to bolster its position in data exchange and financial technology. These collaborations enhance GXChain’s practical applications in various sectors, including finance, insurance, healthcare, and government services.
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Future Prospects and Roadmap: GXChain continues to expand its ecosystem, focusing on cross-compatibility and support for off-chain transactions and interactions with any off-chain data platform. The platform’s roadmap includes further development of its data exchange network, enhancing its DeFi functionalities, and potentially expanding to additional blockchains for broader reach and utility.
Overall, GXChain’s developments in 2023 reflect its commitment to creating a robust and versatile blockchain platform that caters to the growing demands of data exchange and decentralized applications in various industries.
Official website: https://en.gxchain.org/
Best cryptocurrency wallet for GXChain (GXC)
There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.
HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for GXChain (GXC)?
Deciding which type of wallet to use depends on a variety of factors, including:
- How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades.
- What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
- Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
- How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
- What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.
For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.
If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.
Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).
Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).
Market Overview
Coinmarketcap.com
Coinmarketcap will be your cryptocurrency go-to for just about everything. Here you can see the following:
Market Capitalization And Daily Trading Volume
Current Market Price Of Every Cryptocurrency Relative To USD (And Some Local Currencies)
Circulating And Total Supply
Historical Charts With Prices Relative To USD, Bitcoin (BTC), And Ethereum (ETH).
