How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase DMX on BYDFi. We'll guide you through it
Choose how to purchase DMX on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (DMX). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store DMX in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your DMX to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy DMX on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive DMX
Trade
Answers
What is the Dymmax Protocol (DMX)?
The Dymmax Protocol (DMX) is a novel protocol designed to create a decentralized platform for options emission and secondary circulation. It is based on a well-studied parimutuel model, which enables the issuance of options without a seller. Buyers of various option types, such as PUT, CALL, and IRONFLY, collectively form a joint bank that ensures sufficient funds for expiration payments. The price of each option type is calculated off-chain to maximize auction efficiency. Matched orders are tokenized as ERC-20 tokens, facilitating trading on the secondary market. New at-the-money options with the same expiration day are issued daily to increase liquidity and supplement the existing supply.
The native utility token of the Dymmax Protocol is called DMX. It is used for various purposes, including:
- Increasing Cashback from trading commissions
- Voting for new options
- Voting on DYMMAX development paths
- Staking to participate in the liquidity pools
How many DMX coins are in circulation?
The initial distribution of DMX was conducted through two rounds of IEO on Probit exchanges, with public trades commencing on December 25, 2020. A total of 500k tokens were sold, while 1.6M tokens are reserved for future use. Additionally, 700k tokens are allocated for community airdrops to be released within one year. Monthly distributions of 25k tokens will be made to users participating in DMX staking, and 3M tokens will be utilized for protocol development over a five-year period. The total supply of DMX is 10M tokens, but 15% of the total supply will be gradually burned over time.
Who are the founders of the Dymmax Protocol?
The Dymmax Protocol was initially conceived by Dmitry Filyaev, an experienced Dapp developer and derivatives trader. The idea was further validated by Dmitry Meshkov, a researcher who joined the project in an advisory role. Prior to the start of the IEO, the team was augmented by Tatiana Maksimenko, an editor in multiple crypto-related media outlets and the co-founder of IdolMe PR Agency.
Where can I buy the Dymmax Protocol (DMX)?
The DMX token is available for trading on an increasing number of exchanges, with cryptocurrency and stablecoin pairs currently supported.
