How To buy ImmutableX, first, you need to select a cryptocurrency exchange that supports this payment method, such as Coinbase or BitPay.
What Is ImmutableX?
Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable X, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security. To achieve that, Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin considers Ethereum to be “all-in on.”
Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable X, stated that Immutable X allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable X aims to create a world-class experience for users and developers alike.
Why Use ImmutableX?
ImmutableX is a Layer-2 scaling solution for Ethereum that is focused on enabling fast, secure, and low-cost trading of non-fungible tokens (NFTs) and other digital assets. There are several reasons why someone might want to use ImmutableX:
- Faster Transactions: ImmutableX uses zero-knowledge rollups to enable faster transactions. This means that trades can be settled in a matter of seconds rather than minutes or hours, which is especially important for traders who need to make quick decisions.
- Low Transaction Fees: By using ImmutableX, users can avoid the high gas fees associated with trading on the Ethereum mainnet. This makes it more accessible for small traders and also lowers the barrier to entry for new users.
- Secure Trading: ImmutableX is built on top of Ethereum, which is one of the most secure blockchain networks. The use of zero-knowledge proofs also adds an extra layer of security by allowing users to trade without revealing their private data.
- Scalability: As more people start using Ethereum and NFTs, the network can become congested, leading to slower transaction times and higher fees. ImmutableX is designed to help scale Ethereum by offloading transactions to a separate network, which can handle a much higher volume of transactions.
- Interoperability: ImmutableX is built to be interoperable with other Layer-2 solutions, which means that users can easily move their assets between different platforms and take advantage of the unique features of each one.
Overall, ImmutableX offers a range of benefits for users who want to trade NFTs and other digital assets on Ethereum, including faster transactions, lower fees, and greater security.
Best Platform To Buy ImmutableX
Bitstamp
Founded in 2011, Bitstamp is one of the longest-standing and most regulated centralized crypto exchanges(CEXs), serving more than 4 million customers worldwide in over 100 countries. Whether users want to trade on their web platform, mobile app, or APIs, Bitstamp provides a convenient and easy-to-use access to crypto. They take special pride in the fact the exchange has been built on security, transparency and regulation, which is reflected by their AA rating as the world’s top-rated crypto exchange in CryptoCompare’s Exchange Benchmark report.
Bitstamp customers have access to up to 80 digital assets and do not charge trading fees on the first $1000 in trading volume over a 30-day rolling period. Customers can use debit or credit cards, ACH transfers, Apple Pay, Google Pay, PayPal and international bank transfers to purchase cryptocurrencies. Crypto beginners can get started with the help of a wide range of educational resources on Bitstamp’s Learn Center, intuitive features on trading platforms, and a 24/7/365 live support service. For more advanced traders, the exchange offers competitive trading fees, Tradeview, an enhanced version of the platform with advanced trading tools, and a crypto reward program with staking – Bitstamp Earn.
Bitstamp holds 50 licenses and registrations globally. It was the first crypto exchange to receive a Payment Institution License in the EU, holds a BitLicense in New York, and undergoes regular audits by a global Big Four accounting firm. 95% of crypto held at Bitstamp is securely stored offline and their custodians hold additional insurance for client assets in cold wallets. Bitstamp also holds all customer assets in 1:1 custody and separate from Bitstamp entity assets. All this forms the basis of the principle they operate in accordance with – the customers’ crypto is always theirs.
Uniswap (V2)
Uniswap is a decentralized exchange (DEX) which first introduced the automated market maker (AMM) model. Unlike with an order book, traders are provided with constanBybitt liquidity thanks to the “constant product” formula. The V2 version was first based on Ethereum, before branching out to other blockchains that support ERC-20 tokens.
While the V1 version of Uniswap only supported swapping ETH-ERC-20 token pairs, the V2 version did away with this bridging problem and introduced flash swaps. These allowed users to swap between different ERC-20 tokens without incurring too much slippage. It also introduced protocol fees, which contributed to the platform’s ongoing development. Furthermore, the V2 version began using wrapped Ether over native Ether for its core contracts.
The exchange’s popularity gave birth to a V3 version with concentrated liquidity and more flexible fees, which improved the user experience for traders and liquidity providers alike.
Bybit
Bybit is a cryptocurrency centralized exchange (CEX) that offers a professional platform featuring an ultra-fast matching engine, quality customer service and multilingual community support for crypto traders of all levels. Established in March 2018, Bybit currently serves more than 10 million users and institutions offering access to over 100 assets and contracts across Spot and crypto derivatives like Futures.
Options, launchpad projects, earn products, an NFT Marketplace and more. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro, Made in Brazil (MIBR), City Esports, and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.
The platform offers the following products: Spot, Derivatives (USDT perpetuals, USDC perps, inverse perps, futures, USDC options, leveraged tokens), NFT marketplace, Bybit Earn, Buy Crypto and Options.
Poloniex
Poloniex is a global crypto centralized exchange (CEX) platform backed by Justin Sun, founder of Tron. The exchange provides the following products: spot trading and margin trading, futures trading and perpetual swaps, limit orders, real-time order books, a convenient lending system (P2P lending), crypto staking and a trading terminal.
The exchange lists over 350 cryptocurrencies and tokens, which can be purchased with a bank account, credit or debit card, and ApplePay. The exchange has an insurance fund and its own crypto community — Poloniex Learn, where guides, educational materials and relevant industry news are available.
Phemex
Phemex is a crypto derivatives trading exchange. Based in Singapore, it was launched in 2019 by former executives from Morgan Stanley. The project is rapidly gaining popularity due to low fees and deep liquidity, offering user-friendly charting and wallet interface, no-KYC, tight/fast execution spreads, as well as spot, contract, and margin trading.
The centralized cryptocurrency exchange (or CEX) serves all types of clients, ranging from crypto newbies to professional investors. Phemex offers financial advice to improve the trading experience, an educational portal with guides and charts, a quick registration process, a convenient mobile app, referral programs, and ways to generate passive income.
The platform provides an instant purchase of digital assets. According to the project’s website, it can handle 300,000 transactions per second, while the order response time is less than 1 millisecond.
Here are the quick steps to buy ImmutableX
here are the quick steps to buy ImmutableX:
- Set up a wallet: You will need to have an Ethereum wallet to buy ImmutableX. You can use a hardware wallet like Ledger or Trezor, or a software wallet like Metamask.
- Get some Ethereum: You will need to have some Ethereum to buy ImmutableX. You can buy Ethereum from a cryptocurrency exchange like Coinbase, Binance, or Kraken.
- Transfer Ethereum to your wallet: Once you have bought Ethereum, you will need to transfer it to your wallet. You can do this by withdrawing Ethereum from the exchange and sending it to your wallet address.
- Connect your wallet to ImmutableX: You can connect your wallet to ImmutableX by visiting the ImmutableX website and clicking on the “Connect Wallet” button. Select your wallet from the list of available wallets, and follow the prompts to connect it.
- Buy ImmutableX: Once you have connected your wallet, you can buy ImmutableX by clicking on the “Trade” button and selecting the asset you want to buy. You can then enter the amount you want to buy and confirm the transaction.
- Wait for the transaction to complete: Once you have confirmed the transaction, you will need to wait for it to complete. The amount of time it takes will depend on the current network congestion and the gas fees you have set.
That’s it! Once the transaction is complete, you will see the ImmutableX tokens in your wallet.
Does ImmutableX Charge Fees
Phemex employs a 0.01% maker fee and a 0.06% taker fee for contracts. The spot trading fees are 0.1% for both maker and taker. This is highly competitive compared to industry standards, and both spot and contract fees can be further reduced through VIP program.
Yes, ImmutableX does charge fees, but they are much lower than the fees associated with trading on the Ethereum mainnet.
The fees on ImmutableX are based on a “gas” system similar to that used on the Ethereum mainnet. However, the fees on ImmutableX are much lower than the fees on the Ethereum mainnet because ImmutableX uses a Layer-2 scaling solution.
The fees on ImmutableX are paid in ETH, and are used to pay for the computational resources required to execute transactions on the network. The fees are typically very low, with an average cost of around $0.01 per transaction.
In addition to the gas fees, ImmutableX charges a small trading fee of 0.03% for each trade executed on the platform. This fee is charged in the native token of the platform, IMX.
Overall, the fees on ImmutableX are much lower than the fees on the Ethereum mainnet, which makes it a more cost-effective solution for trading non-fungible tokens (NFTs) and other digital assets.
Why We Choose Buy ImmutableX Any Reason
Scalability:
ImmutableX offers scalability by enabling fast and cheap transactions for dApps on the Ethereum network. This is achieved by leveraging off-chain scaling technology and a unique zk-rollup solution, which allows for significantly more transactions to be processed per second than the Ethereum mainnet.
Security:
ImmutableX provides a high level of security for dApps, with all transactions on the network being fully auditable and tamper-proof. This is achieved through the use of zero-knowledge proofs, which ensure that only valid and legitimate transactions can be processed on the network.
Decentralization
ImmutableX is built on top of the Ethereum network, which is known for its strong decentralization and security features. This means that dApps using ImmutableX can benefit from the same level of decentralization and security as the Ethereum mainnet.
Interoperability
ImmutableX is designed to be interoperable with other Ethereum-based dApps and smart contracts. This means that developers can easily build and deploy their dApps on the network, while also being able to integrate with other Ethereum-based applications.
Community:
ImmutableX has a strong and active community of developers, users, and supporters who are working together to build and improve the network. This community provides a valuable resource for anyone looking to build or use dApps on the network, as well as for investors who are interested in the long-term potential of the project.
Pros Or Cons Of Buying ImmutableX
| PROS | CONS |
|---|---|
| Low transaction fees | Limited liquidity |
| Fast transaction times | Limited asset selection |
| High scalability | Reliance on Ethereum |
| Secure trading |