How To Buy BinaryX (BNX)?

A common question you often see on social media from crypto beginners is “Where can I buy BinaryX?” 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 BinaryX (BNX)

First, you will need to open an account on a cryptocurrency exchange that supports BinaryX (BNX).
We recommend the following based on functionality, reputation, security, support and fees:

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 BinaryX (BNX) 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 BinaryX (BNX)

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 BinaryX (BNX) or BinaryX (BNX) trading pairs. Look for the section that will allow you to buy BinaryX (BNX), and enter the amount of the cryptocurrency that you want to spend for BinaryX (BNX) or the amount of fiat currency that you want to spend towards buying BinaryX (BNX). The exchange will then calculate the equivalent amount of BinaryX (BNX) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of BinaryX (BNX) 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.

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. 

The BinaryX platform is the backbone of the Binance Smart Chain-based game CyberDragon. The game is a play-to-earn system where users can earn real tokens that hold real-world value by paying for the game. The BinaryX platform started out as a decentralized derivative trading protocol. However, a lot has changed, and the system has been improved to accommodate the innovations that have been sprouting up in the GameFi sector. At the moment, the BinaryX platform is working on its own metaverse game called CyberDragon. The game has a traditional MMORPG system with a variety of DeFi properties. For example, the game props used as its derivatives are mostly NFTs, and they allow players to choose between a variety of gameplay modes, including PvP and PvE.

Since the development of CyberDragon, a multi-token economy has been added to its system, allowing players to earn money simply by playing the game. The main goal of the game is for players to try to defeat the cyber dragon, the game’s ultimate character. If a player defeats the character, the Cyber Dragon treasure reward is awarded.

According to a BinaryX platform statement, its main vision was to become the leading inventive platform in the world of GameFi developments, as well as to bring about more innovative applications of blockchain technology to the gaming sector.

How does BinaryX work?

According to the BinaryX team, the platform aims to attract more players by providing a game with low entry barriers, simple vocabulary, and various game scenarios that allow its players to earn property.

Players on the platform can create characters that can level up by spending gold, the game’s native currency. The gold can be obtained by daily mining or by completing dungeon adventures. Leveling up a character grants them enhanced abilities such as mining speed and combat power. It does not, however, improve the character’s fundamental characteristics. The system also offers a path to some specific challenges and high-level jobs, which are unlocked only when a player reaches a point considered commensurate with the level. The game generally has five character-classes from which players can choose.

BinaryX’s CyberDragon Gameplay

Heroes are level one when they are first recruited, and you can level them up by consuming a certain amount of Gold and BNX. The more Gold you need to consume, the higher your level. Gold can be obtained as a reward for dungeon adventures or through each hero’s daily mining work. One of the most important parts is leveling up the hero. Leveling up the hero increases her combat effectiveness and mining duration, but it has no effect on her attributes. To participate in high-level jobs and dungeons, you must have the corresponding hero level.

You can recruit your hero through the hero recruiting page. You need to pay 1 BNX and 50 BUSD for each hero. Each hero will get a random class/attribute/talent. Each hero is in the form of NFT, and you can freely transfer/buy/sell the heroes.

BinaryX’s CyberDragon Classes

Your hero is randomly assigned a Class when you recruit them. Classes that are currently supported include: Warrior, Rogue, Mage, Ranger, Knight, Priest, Druid.

Warrior – Warriors are dependable team protectors because they are brave and experienced fighters. They can equip all one-handed or two-handed weapons except magic staff. They can equip light, medium, or heavy shields as well as medium or heavy armor. Warriors boast the greatest growth in terms of Strength and Constitution. They can protect their teammates by using their taunting/guarding abilities.

Rogue – Rogues who are skilled in the art of dual-wielding can inflict massive physical damage. All one-handed weapons, light shields, and light and medium armor are available to rogues. These astute thieves have quick Agility and can dodge and evade damage. During combat, rogues can use their Steal skill to steal items and rare equipment for their team. Outside of combat, Rogues are versatile in terms of Life Skills and can earn a decent amount of Gold tokens by doing Daily Work.

Mage – Mages are masters of manipulation when it comes to the elements. Can only use a magic staff and robes, and no shields or armor. They have the highest spirit and intelligence growth and are adept at dealing with AOE damage. The Mage can also make magical equipment, enchant it, and improve team combat abilities.

Knight – Knights are steadfast warriors with strong beliefs whose Aura skills can grant buffs to their team. All one-handed weapons (except the magic staff), light or heavy shields, and medium or heavy armor are available to knights. Knights have the fastest Constitution and Spirit growth. Although their combat effectiveness is limited, their aura abilities are critical for challenging advanced instances.

Ranger – Rangers are archery masters and wilderness survival experts. They’re known for delivering lethal blows with their bows and can lead their team around traps or flank the enemy for a surprise attack. Rangers can equip bows and crossbows as well as light and medium armor, but they cannot equip shields. Rangers have shown consistent and balanced growth in Strength, Agility, and Constitution, allowing these tough fighters to dominate in Adventures and Challenger Competitions.

Priest – Priests are healers who come in handy during battle. They can use any wand, light shield, or robe. Priests are endowed with increased intelligence, spirit, and willpower. The powerful healing ability increases teammates’ survivability.

Druid – Druids are weavers of magic with balanced attributes who have excellent survival skills and are extremely lethal. All wands, light shields, and medium armor are available to Druids. These spritely forest dwellers have enhanced Intelligence and Constitution development. Despite their sweet appearance, Druids are as fearsome in combat as any other mage class, and they have incredible survival skills.

BinaryX’s CyberDragon Character Attributes

Strength – Strength represents the muscle strength of a hero. When using most physical damage weapons, your attack power is determined by your strength. You can get a higher strength damage bonus when using two-handed weapons. Furthermore, heavy armor and heavy shields usually have minimum strength requirements.

Agility – Hand-eye coordination, physical flexibility, reaction time, and balance are all characteristics of agility. This is the most important characteristic of rogues. Evasion ability is determined by the hero’s agility. (The dodge ability is also affected by the hero’s armor and shields; see the Fighting section for more information.) Furthermore, some weapons with “dexterous” attributes will gain agility damage. When dual-wielding weapons, the agility attribute also determines the debuff.

Constitution – Constitution represents health and endurance, so this attribute is essential for every class. Aside from health, the Constitution determines whether or not a hero will be debuffed.

Intelligence – A hero’s intelligence represents his or her learning and thinking ability. The most important attribute of Spellcasters is intelligence. The number of spells that the hero can cast, the difficulty of the opponent’s resistance to the spell, and the spell’s damage are all affected by intelligence. Mages with high intelligence can learn more advanced spells and deal more significant damage than other Mages.

Willpower – Willpower represents the hero’s ability to endure injury and pain. Willpower determines a hero’s ability to resist physical damage in the game.

Spirit – Spirit represents the mental fortitude of the hero. A hero with high mental fortitude will take less magical damage. Furthermore, Spirit determines the effects of knights and priests.

BinaryX’s CyberDragon Game Modes

Adventure

Adventures are the most exciting part of the game! Kill monsters, take on bosses, and seize treasure chests containing all your deepest desires: Gold, items, skill books, rare equipment, and so much more!

Your hero can embark on two types of Adventures: Small Dungeons and Large Dungeons.

Small Dungeons

Small Dungeons can be challenged by lone heroes. When you send your hero into the dungeon, the system generates random monsters for you to fight based on the difficulty level of the dungeon. You are not required to manually control the battle process. You’ll get the dungeon reward when your hero returns victorious. Some dungeons may contain random boss encounters, for which you will be rewarded even more generously.

If your hero is defeated in a battle, you will still receive a portion of the rewards from previous victories. Each hero is limited to a certain number of Adventures per day: Level 1-3 heroes can challenge three Small Dungeons, while level 4+ heroes can do as many Adventures as their level allows. Every day at UTC 12:00 noon, the Adventure count is reset. To embark on an Adventure, you will need to pay some Gold, and the amount required may change dynamically in response to changes in the prices of Gold and BNX.

Large Dungeons

Large Dungeons can only be fought in groups of two or more heroes. When you send a team to the Large Dungeon, the system will generate monsters at random to fight alongside the team. The large dungeon may have multiple stages, each with its own boss, and at the end, the heroes will face a final boss in the dungeon. After completing each stage, you can either proceed to the next stage or exit the dungeon. If you fail to complete the large dungeon, you will forfeit all rewards from this challenge.

Dungeon rewards will be influenced by the wealth of the monsters. The fewer heroes challenge the dungeon in a short period of time, the higher the monster’s wealth will be. Meanwhile, the more heroes in the daily mining, the higher the monster’s wealth will be. The monster’s wealth starts at 1 and fluctuates between 0.1 and 2. The wealthier the monsters are, the higher the dungeon rewards will be.

The following computation is independent for each dungeon level:

Wealth of monsters in a dungeon = (1,000,000 + Gold mined in daily mining in the last 1 hour) / (number of times that dungeon was challenged in the last 1 hour * dungeon entry cost * 12) Dungeon rewards Expected Value = Dungeon entry cost * Conversion Rate * Wealth of monsters in a dungeon

Daily Mining

Aside from the bloody battles, the heroes have their own daily lives and jobs. When not on an adventure, the characters can work for gold. You only need to click the button for the hero to begin working and earning gold. Different job types may have different requirements for attributes and levels. The higher the requirements, the greater the gold wages that can be obtained.

All newly recruited heroes will be mining gold for a living. These heroes will benefit from an extended mining period with a mining cap of 2,592,000 blocks (approximately 90 days). Heroes will continue to earn mining tokens once they begin mining. Players can resign from their heroes’ jobs at any time, but they will no longer be able to participate in daily mining.

BinaryX Multi-Token Economic System

What is the BNX Token?

Token address：0x8c851d1a123ff703bd1f9dabe631b69902df5f97

BNX is CyberDragon’s governance token. Holders of BNX tokens can participate in community governance and vote on major game decisions. At the same time, holders of BNX tokens can receive regular gold airdrops. Some key game operations, such as creating heroes, forging rare equipment, and challenging the Cyber Dragon dungeon and some top dungeons, require BNX tokens.

BNX tokens can be obtained by purchasing from a cryptocurrency exchange, completing specific dungeons in the game; and participating in other BinaryX Defi products. The majority of the BNX paid by users in the game will be used to set event rewards before being returned to the users.

What is the GOLD Token?

Token address：0xb3a6381070B1a15169DEA646166EC0699fDAeA79

This is the game’s main currency. Gold is required in most consumption scenarios in the game. Heroes, for example, must consume gold to upgrade; gold is required for expenses when challenging dungeons and preparing equipment. You can also use gold to hire the heroes of other players to form a team, and so on. After recruiting heroes, gold can be obtained by mining by participating in daily work. The DEX platform can also be used to trade gold.

What is the CRYSTAL Token?

Token address: 0x6AD7e691f1d2723523e70751f82052A8A2C47726

The currency game can be used in the game. For example, players can consume crystals to reforge equipment, which is consumed when challenging a specific dungeon.

BinaryX development updates in 2023

BinaryX (BNX) has made several significant advancements in 2023, reinforcing its position in the GameFi and blockchain gaming sectors. Here’s an overview of the key developments:

• Expansion of Gaming Portfolio: BinaryX has launched trending blockchain games on the BNB chain, including CyberDragon, CyberArena, and CyberChess. Each game incorporates unique play-to-earn mechanics, allowing users to earn crypto rewards for their gaming achievements.

• Development of CyberLand: An ambitious project named CyberLand is in the pipeline, poised to introduce a massive metaverse environment. This game will feature a medieval fantasy world with various in-game quests, enhancing the immersive gaming experience BinaryX offers.

• NFT Marketplace Integration: BinaryX has its own NFT marketplace where users can trade medieval fantasy-themed NFTs. This marketplace supports both BNB chain-based and Ethereum-based ERC-721 NFTs, providing flexibility for players to trade NFTs across different BinaryX games.

• Decentralized Autonomous Organization (DAO): The introduction of the BinaryX DAO allows players to have a say in the platform’s development, game launches, and ecosystem changes. This democratic governance model enhances user engagement and participation in the BinaryX ecosystem.

• Market Performance: As of the last update, BinaryX had a market capitalization of around 102 million USD, with a circulating supply of approximately 346 million BNX tokens. The token’s price showed a slight movement in the last 24 hours.

• Focus on AI and Virtual Reality: BinaryX has introduced an AI-powered Battle Royale game, “Ai Hero,” and collaborated with AiGC Labs to develop an AI-powered VR hack-and-slash game. These initiatives signify BinaryX’s commitment to incorporating advanced technology in their gaming offerings.

• Project Matthew and Other Initiatives: BinaryX rolled out a blockchain simulation game with a space theme, named Project Matthew. Additionally, the platform has been proactive in hosting events like the Blockchain Gaming Online Hackathon and providing Initial Game Offering (IGO) services to support upcoming GameFi projects.

• Token Use Cases: BNX tokens are integral to the BinaryX ecosystem, facilitating in-game transactions, purchasing NFTs, and participating in community governance through the DAO. Holders of BNX tokens can also engage in voting on game listings and receive rewards from game tokens and NFT airdrops.

These developments underscore BinaryX’s strategic direction toward expanding its gaming ecosystem and enhancing the overall GameFi experience​​​​​​.

Official website: https://www.binaryx.pro/

Best cryptocurrency wallet for BinaryX (BNX)

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 BinaryX (BNX)?

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 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).