How to buy ChainX (PCX) in the UK

Where to buy ChainX in the UK

It looks like PCX may not be available to purchase on an exchange in the UK.

You can still purchase PCX by using a decentralised exchange (DEX) instead. Decentralised exchanges are web applications that run on blockchains like Polkadot and allow users to trade any asset directly with one another.

How to purchase PCX using a decentralised exchange.

1. Find PCX on a decentralised exchange and make sure ChainX can be traded for DOT which is the native asset of Polkadot. The most popular DEX on Fantom is Polkaswap.
2. Buy DOT to trade for PCX using an exchange like Gemini. You will need to purchase enough DOT to swap for PCX as well as DOT to pay for transaction fees on the Polkadot network.
3. Transfer the DOT into a web 3.0 wallet like MetaMask to connect to the DEX.
4. Trade DOT for PCX on the DEX of your choice, following the instructions on screen. Make sure to leave enough DOT in your wallet to pay for gas.
5. Wait for the transaction to finalise and the PCX tokens will arrive in your wallet.
6. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet.

You can follow the same process when you want to sell your tokens, or come back to this page to see if they can now be traded on an exchange in the UK.

Best ChainX wallets to store your PCX

You can keep your PCX on the exchange you purchased it on, or move it to a personal wallet:

• Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
• Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your PCX below.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Is ChainX a good investment?

ChainX, or PCX, like any other altcoin, should be carefully evaluated before an investment decision is made. To help you with that decision here are some factors to consider:

• Interchain operability: Thanks to the use of Substrate chains, the platform is able to provide seamless compatibility with the Polkadot network. Not only that, but the platform also utilises other bridges that allow ChainX to facilitate cross-chain operations. This could be a promising area of future development for the cryptocurrency industry.
• Widespread availability: As a result of ChainX’s growing popularity over the last couple of years, PCX is now available across a number of major mainstream cryptocurrency exchanges including KuCoin, Gate.io and CoinW. Liquidity is also relatively high.
• Highly secure: By using a decentralised network, ChainX is able to facilitate cross-chain exchanges in a totally peer-to-peer fashion, thereby eliminating the scope of any human manipulation or fraud.
• DEX Module: The platform comes complete with a fully functional cross-asset transaction module that is designed to help in the circulation of various digital currencies across different ecosystems. There are not many competitors in this space, but true demand has not yet been proven.
• All-in-one ecosystem: ChainX features an inter-chain transaction verification system as well as other niche features, such as an on-chain mintage program and deposit and withdrawal programs. The company also hosts a trusteeship program that provides independent developers with technical and monetary support.
• Novel consensus mechanism: The platform utilises a hybrid Proof-of-Stake consensus mechanism — referred to as the “Babe + Grandpa” set-up — wherein all block generation activities are maintained separately from any transaction confirmation/validation-related matters.
• Competition: ChainX is not the only blockchain looking to tackle the interoperability of blockchains. While the approach may be novel, the project will need to continue innovating to take market share away from Harmony and Cosmos.

Today's ChainX price versus ATH

Compare today's price of ChainX ($0.367224 USD) against its all-time-high price of $17.54 USD on 29 March 2021. The closer the bar is to 100%, the closer PCX is to reaching its ATH again.

How to trade, convert or sell ChainX

You can convert or sell your PCX with the same exchange you bought it through:

1. Sign in to the exchange you have PCX on.
2. If you store your ChainX in a digital wallet, compare crypto exchanges to convert or sell it on.
3. Choose Sell or Convert and place a sell order.
4. Choose the amount of PCX you'd like to convert or sell.
5. Confirm the sell price and fees and close your sale of ChainX.
6. Complete your transaction and move your PCX to a wallet for storage.

* 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.