Uphold - Digital Asset Platform

- Trade GMX and 273 other cryptos.
- Trade directly across crypto and traditional currencies.
- Instant deposits and withdrawals.
Uphold - Digital Asset Platform
GMX (GMX) is the 313rd largest cryptocurrency by market cap, valued at US$199,993,665.
GMX is a highly volatile asset capable of major price swings in a single day. Today the price of GMX is $20.08, which is lower than yesterday's trading price of $20.79. Over the past year, GMX's price has seen a decrease of -53%.
So before you buy GMX, make sure you understand these unique risks as well as its legal and tax status here in the US.
If you're ready to get started, read on for step-by-step instructions on how you can buy GMX.
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Find an exchange to buy, sell and trade GMX by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
GMX is a decentralized perpetual exchange (DEX) that offers optimal exchange prices and leveraged trading. Thanks to an integration with Arbitrum - an Ethereum layer-2 network - and the Avalanche blockchain, GMX offers minimal spreads, low trading fees, and zero price impact trades. Alongside traditional spot trading, GMX also offers users the ability to trade with up to 30x leverage on popular cryptocurrencies such as Bitcoin, Ethereum, and Avalanche. Traders can also open both long and short positions.
According to the project's website, to improve the accuracy of pricing data and, therefore, minimise the risk of liquidations, the DEX has integrated with the decentralized data oracle, Chainlink, and applies a time-weighted average pricing mechanism from other leading DEXs. To accompany accurate pricing data, the platform has been designed to be intuitive and eye-catching for users unfamiliar with decentralized finance (DeFi) applications. All trading that takes place on the GMX exchange is supported by a multi-asset user-supplied liquidity pool, which is also used to collect and distribute a range of platform fees.
GMX is the platform's utility and governance token. The token can be staked in the platform to earn a share of 30% of all transaction fees. Unlike other DEXs, fees collected by the platform are not solely distributed in the native token. Those staking GMX tokens will earn both AVAX - the native cryptocurrency of the Avalanche blockchain, and esGMX - otherwise known as escrowed GMX. esGMX rewards can be converted to GMX after a 1 year vesting period.
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the US to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading GMX.
Once you've created an account, you will need to deposit funds to buy GMX with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy GMX:
The easiest way to buy GMX is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying GMX, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of GMX has been performing recently.
You can keep your GMX on the exchange you purchased it on, or move it to a personal wallet:
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,000+ |
Supported assets 30,000+ |
Price (USD) $149 |
Price (USD) $129 |
Price (USD) $49.99 |
See more of the best crypto wallets
All investments require an understanding of the risks and potential upsides. With regards to GMX, here are a few things to consider:
Compare today's price of GMX ($20.08 USD) against its all-time-high price of $91.07 USD on 18 April 2023. The closer the bar is to 100%, the closer GMX is to reaching its ATH again.
Disclaimer: Cryptocurrencies, including GMX, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GMX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the GMX or any other cryptocurrency discussed.
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