Posted 7 months ago | by @devadmin
Best place to purchase SNX at true cost with zero fees and markups
Synthetix (SNX) is listed on the Crypto.com App today, 7 January 2021. SNX joins a growing list of 90+ cryptocurrencies and stablecoins on our App, such as Bitcoin (BTC), Ether (ETH), Cardano (ADA), Chainlink (LINK), VeChain (VET), USD Coin (USDC), as well as Crypto.com Coin (CRO).
Synthetix is a decentralised synthetic asset issuance protocol built on Ethereum. These synthetic assets are collateralized by the Synthetix Network Token (SNX) which when locked in the contract enables the issuance of synthetic assets (Synths). This pooled collateral model enables users to perform conversions between Synths directly with the smart contract, avoiding the need for counterparties. This mechanism solves the liquidity and slippage issues experienced by DEX’s.
With SNX added to the Crypto.com App, users can now purchase it at true cost with no fees – credit card and bank transfer both supported. As Crypto.com also offers a Visa Card, this adds additional utility to SNX as users can easily convert cryptocurrencies into fiat currencies and spend at over 60M merchants globally.