Your guide to AdEx and how you can buy and sell the ADX cryptocurrency
We know that everyone's situation is unique and we aim to help you find the right product for you. We may receive compensation when you visit our partners' sites or are approved for their products. You can read more about how we maintain editorial independence and how we make money here.AdEx is a decentralized ad exchange built on the Ethereum network. Developed with the aim of disrupting the existing online advertising landscape and overcoming problems such as fraud and privacy concerns, AdEx is designed to provide advertisers, publishers and consumers with a secure and transparent platform.
The AdEx token (ADX) is used on the platform to buy or sell advertising time. Read on to find out exactly how the exchange and token work, and how you can buy ADX.
Where to buy, sell or trade ADX in the US
You can buy ADX on a wide range of cryptocurrency exchanges, including the following:
A step-by-step guide to buying ADX
If you want to buy ADX, here’s an example of how to do it:
Step 1. Register for an account with HitBTC
You can exchange US dollars (USD) for ADX tokens on local cryptocurrency exchange HitBTC. You’ll need to register for a free account by entering your email address and creating a password. In order to deposit funds into your account and start trading, you’ll also need to send your full name, date of birth, country of birth, address, bank account information and supporting documents in an email to HitBTC’s compliance department. If you already own a cryptocurrency, you can also deposit that in your HitBTC account without submitting all that verification data.
Don’t forget to activate two-factor authentication on your account for an extra layer of security.
Step 2. Deposit funds into your account
On the menu bar at the top of the website, click the “Deposit” link and select the desired currency, then follow the instructions.
Note: In this example, it’s possible to exchange USD directly for ADX. However, many cryptocurrency exchanges don’t allow you straight swaps between fiat currency and cryptocurrency. If this is the case on your chosen exchange, you’ll first need to acquire a cryptocurrency that’s available in a pairing with ADX, such as Bitcoin (BTC) or Ethereum (ETH), then transfer it to your HitBTC wallet address for that crypto.
Step 3. Buy ADX
Click the “Markets” link at the top of the page, then find and click an “ADX” pairing, either ADX/ETH, ADX/BTC or ADX/USDT. Look for the “Buy ADX” box, click the order type from the tabs and enter the amount you want to purchase. Be sure to review the details of your transaction, including the amount of ADX you’re buying, the fees and the total transaction cost, before completing your purchase.
How to sell ADX
If you want to sell your ADX tokens, navigate to the ADX pairing you want and complete the “Sell ADX” box instead.
Which wallets can I use to hold ADX?
Rather than storing your crypto holdings on an exchange, the most secure way to hold your ADX is in a secure wallet. ADX is an ERC20 token on the Ethereum blockchain, so you’ll need to use a wallet that’s compatible with these types of tokens, such as the following:
How AdEx works
First announced in 2016 and based in Bulgaria, the AdEx network features several layers to provide a secure, decentralized ad exchange. The first layer is the ad exchange itself, which is built on Ethereum smart contracts.
On top of the exchange, the company is building dapps for the publisher portal, the advertiser portal and the AdEx profile for end users. All of those dapps will be browser-based and accessible online but hosted by AdEx. The end-user profile will give people the opportunity to understand and control the ads delivered to them.
According to the team behind AdEx, the network is designed to solve a range of problems with online advertising, including the following:
- A lack of consumer consent and control over the ads they are shown
- Online privacy concerns and the misuse of personal data
- A lack of bidding transparency for advertisers
- Unclear and misleading reporting of online ad campaigns
- Advertising fraud
The AdEx beta is scheduled for release in February 2018. The AdEx token (ADX) will be used internally to buy or sell advertising space and time within the AdEx ecosystem. A token sale took place in June and July 2017 and raised 40,000 ETH.
Key things to consider if you’re thinking about buying ADX
Cryptocurrencies are complex, speculative and risky, so it’s essential to understand how they work and all the risks involved before you buy. If you’re thinking of purchasing ADX, make sure you take the following factors into account:
- Supply. According to CoinMarketCap at the time of writing (2/1/18), the circulating supply of ADX was 60,248,315 out of a total supply of 100,000,000 ADX.
- White paper. For more details about the technology behind AdEx, how the platform works and the function of the ADX token, check out the company’s detailed white paper.
- Token use. The white paper explains that advertisers will be able to create ads, then place bids for them in the AdEx ecosystem, setting the bid in ADX tokens. The advertisers may bid for a specific number of impressions, clicks or conversions. Once a publisher accepts a bid, the tokens will be frozen until the publisher proves that they have completed the goal, at which time the tokens will be transferred to the publisher’s balance.
- Possible new token. The white paper mentions the possible addition of a second token, the ADXToken2 (ADXT). This upgradable ERC20 token would feature an inflation model designed to improve the token’s scalability and avoid too much scarcity.
- Still in development. Like many other cryptocurrencies, ADX will be used on a platform that is still in development. This means there are several unknowns about the user-friendliness and robustness of the platform that can only be answered once it has been fully released.
- Partnerships. It’s also a good idea to stay up to date with news of any partnerships and commercial arrangements a crypto has lined up. For example, AdEx has partnered with NEO and video entertainment platform Stremio.
- Team. AdEx co-founders Ivo Georgiev and Dimo Stoyanov founded Stremio, and the video entertainment hub has almost 5 million active users.
- Potential market. Digital advertising spend exceeded TV ad revenue for the first time ever in 2016, attracting revenue of $72.5 billion.
- Competition. AdEx isn’t the only blockchain-based tech company that aims to disrupt the online advertising industry. Basic Attention Token (BAT), Qchain and adChain are just some potential competitors you’ll need to be aware of.
You’ll need to consider these and many other factors to determine whether you should buy ADX.