How to buy AdEx
Your guide to AdEx and how you can buy and sell the ADX cryptocurrency in the UK.
AdEx is a decentralised ad exchange built on the Ethereum network. Built 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.
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. Create an account with a cryptocurrency exchange that allows you to trade ADX
ADX isn’t listed on every crypto exchange around the world, so search for a suitable platform that allows you to exchange ADX with the currency of your choice. Once you’ve found a site, sign up for an account by providing your name, email address and contact information.
In line with Know Your Customer (KYC) laws, some exchanges will also require proof of ID before your account can be verified and you can begin trading. It’s also recommended that you set up two-factor authentication for increased account security.
Depending on how busy your chosen exchange is, verification can take anywhere from a few hours to a few weeks.
Step 2. Deposit funds into your account
Many cryptocurrency exchanges don’t allow you to swap fiat currency, such as GBP, for cryptocurrencies directly. If this is the case, you’ll need to acquire a cryptocurrency that’s available in a pairing with ADX, such as Ethereum (ETH) or Bitcoin (BTC), and then exchange it for ADX.
Step 3. Buy ADX
Once the necessary funds have been deposited, search for the currency pair you want to trade, such as ADX/ETH. Review the current price of ADX and click on “Buy ADX”.
You will then need to choose a limit or market order, enter the amount of ADX you want to buy, and review the full details and cost of your transaction. If you’re happy with all the details and ready to proceed, confirm your buy order.
How to sell ADX
The process for selling ADX is more or less the same as the buying process detailed in Step 3 above. Of course, you’ll obviously need to follow the prompts to “Sell ADX” rather than buy, while it’s also important to remember that it may not be possible to directly exchange your ADX for the currency you want.
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:
- Ethereum Wallet
- Ledger Nano S
How AdEx works
First announced in 2016 and based in Bulgaria, the AdEx network features several layers to provide a secure, decentralised 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 was held 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 exactly 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 (1 February 2018), 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, and 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 US$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.
*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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