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How to Buy Synthetix 2022

Investing in Synthetix is something that many crypto traders with an interest in decentralized finance (DeFi) are considering. The native token of the Synthetix platform, SNX could be a good long-term investment.

If you’re wondering where to buy Synthetix token and how to do so securely, this guide is for you.

We’ll review how to invest in Synthetix in the UK, US or worldwide by registering with an FCA regulated crypto platform, and speculate on some potential SNX price predictions.

How to Buy Synthetix – Quick Steps

To know the basics of how to buy Synthetix in the UK safely – follow the steps below to invest with FCA-regulated broker eToro in just a few minutes.

  • Step 1: Open an eToro account

Open an account on the eToro website by entering your personal information as required. Choose a username and password.

  • 💳 Step 2: Deposit Funds

Deposit at least $10 – or about £7, which is the minimum deposit requirement on eToro for US and UK investors. You can invest in Synthetix coin with as little as that. The available deposit methods include bank transfers, debit / credit cards, Paypal, e-wallets and more depending on your country.

  • 🔎 Step 3: Search for Synthetix

Enter ‘SNX’ to search for it and click on ‘Trade’ when you see it appear on the screen.

Enter the amount you want to trade. Your Synthetix investment amount starts from $10 on eToro. Click on ‘Open Trade’ to confirm your SNX purchase.

For a more detailed guide on how to invest in SNX, read our full review below.

Where to Buy Synthetix

Do you want to buy SNX online? If yes, then you will need to open an account with an online exchange or broker. And the process is simple.

The best Synthetix brokers that we have reviewed charge low fees, have many market options and come with robust regulations and licenses.

To choose a suitable crypto provider, our review below will be helpful. We will recommend the best places to buy Synthetix.

eToro – Overall Best Place to Buy Synthetix 

To invest in SNX in 2022 with low fees and safety, our top recommendation is eToro. etoro review

It is the best place to buy SNX from our research. Also, the process on this platform is very easy. Opening an account on the platform to make your first trade will take just a few minutes on eToro. This brokerage site has more than 20 million people registered on it.

eToro is regulated and authorized by the FCA in the UK, as well as the ASIC in Australia, and is SEC compliant in the US.

So, you can securely proceed to buy SNX with eToro. eToro has a spread system to buy and sell Synthetix. The spreads are competitive. Apart from Synthetix, eToro offers over 60 alternate cryptocurrencies.

etoro review

As well as SNX you can buy XRP, ETH, Dogecoin and ApeCoin on eToro with low fees. eToro also provides one of the best crypto wallets available to users.

eToro also supports thousands of stocks, shares and ETFs if you want to diversify your investment portfolio. It also offers currencies and hard/soft commodities. While buying a cryptocurrency on eToro, you can make use of its Copy Portfolio feature (Smart Portfolios).

Professsional investors can then manage, maintain, and rebalance your Smart Portfolio. The platform requires a minimum deposit of $10. Funding on eToro is free and easy with UK debit/credit cards or Paypal.

What makes eToro the best crypto platform:

  • Fully FCA regulated
  • Low Synthetix trading fees
  • No deposit or account fees
  • Supports social and copy trading
  • Offers a wide variety of payment methods 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Huobi – Popular Platform to Buy Synthetix with Debit Card

Huobi is another top platform to consider if you want to invest in SNX. Huobi Logo

It is a reliable cryptocurrency exchange and is one of the largest globally as per trading volume. It has over ten million registered users on the platform.

Huobi’s craze is for its low trading fees. You have the option of investing in more than 350 cryptos. It has a low 0.2% maker/taker fee. And the fee is further reduced to half if you pay in HT, which is the native token of Huobi.

On Huobi, you can also buy SNX by choosing a credit or debit card as your payment option. The platform has a ‘Quick Buy’ feature and users find the feature extremely convenient. Using a credit card will incur a higher fee. It also supports over 50 local currencies.

Huobi exchange

As far as trade opportunities are concerned, Huobi also offers futures, USDT-margined contracts, and swaps apart from spot trading.

Huobi has a streamlined trading experience. Users can also use its dedicated mobile app to trade in Huobi. The app is more suitable for new investors as it offers multiple order types, quicker withdrawals, and 24/7 customer support. Huobi has a dedicated self-custody wallet app and supports various blockchains.

What we like:

  • Low crypto trading fees
  • Supports credit & debit card purchases
  • Free crypto deposits
  • Great crypto wallet app
  • Wide range of tradeable assets

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Crypto.com – User-Friendly App to Buy Synthetix

If you want a convenient and beginner-friendly option to buy SNX, then Crypto.com is another reliable platform.Crypto.com logo

Crypto.com is one of the quickest-growing crypto exchanges across the world. It offers over 150 cryptocurrencies for users.

Like many other exchanges, it uses a maker/taker model and charges 0.4% per trade. The fee is reduced by 10% if you use Crypto.com’s native token, CRO while paying.

Another method to go for if you want to instantly invest in Synthetix coin via the Crypto.com app is using credit or debit cards. This usually incurs a fee of 2.99%, even though it is applicable only after the first 30 days of your trading. Users can fund their crypto accounts on Crypto.com by using crypto without any charge.

Crypto dot com features

However, it does not directly handle FIAT deposits yet. All withdrawals are subject to a network fee.

The Crypto.com app is well-designed and it enables users to buy and sell coins without any hassle. App users can also look for ‘Missions’ and complete these to earn rewards in Diamonds, which can then be exchanged for Mystery Boxes that have CRO. Crypto.com also offers a crypto VISA card with an impressive 8% cashback for the top tier in certain places.

What we like:

  • Very low 0.4% maker/taker fee
  • Free debit/credit card purchases for the first 30 days
  • Secure crypto wallet app
  • Over 150 cryptocurrencies to trade
  • Excellent educational resources

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Coinbase – Popular Place for Beginners to Buy Synthetix  

Coinbase is an online broker and exchange that has a license.

It is suitable for beginners who want to buy cryptocurrency. You can create your account on this platform in just a few minutes and opt for debit/credit cards or bank transfers to pay when you buy Synthetix. Coinbase has a simple interface but has high fees for certain functions.

For instance, 1.49% is the standard commission that the platform charges. To buy Synthetix instantly using your debit or credit card, the charge is around3.99%. Coinbase also adds a mark-up on spreads, which means an added fee. The minimum fee however to buy Synthetix on the platform is just £2.

coinbase platform screenshot

What we like:

  • Intuitive interface
  • Offers access to a huge range of cryptos
  • Coinbase wallet app also can store NFTs
  • No inactivity fees
  • Helpful customer support

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Binance – Top Exchange to Trade Synthetix   

Binance earlier allowed UK residents to buy crypto instantly using a debit or credit card.

You could make deposits on the platform through a local bank transfer. However, the FCA-led investigation directed Binance to not accept British pounds directly.

Binance is otherwise a good option for users looking to trade Synthetix and other cryptocurrencies as it has low fees.

For instance, the highest commission charged while buying and selling Synthetix is just 0.10% per slide. This is further reduced if you trade a huge amount or hold BNB tokens in your Binance crypto wallet.

binance platform screenshot

It allows users to access more than 1,000 digital assets markets and passively earn interest on your cryptocurrency holdings.

What we like:

  • Competitive instant buy fees
  • Huge collection of cryptos
  • Offers NFTs & staking
  • No account management fees
  • Simple account opening process

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Synthetix?

Founded in 2019, Synthetix was created as a part of the Ethereum blockchain for facilitating DeFi protocols. Their aim was to encourage trading of synthetic assets, or ‘synths’ on Ethereum. Assets that are not blockchain-oriented can be hosted in the Synthetix eco-space.

It aims to assist and enhance the financial market. SNX is the token of the Synthetix platform, a decentralized exchange (DEX) with a range of decentralized applications.

Should I Buy Synthetix?

Synthetix network has attracted a significant following in the crypto community, going on an over 500% bull run in 2021 from $5 to an all-time high of over $25.

Synthetix buy

While the price action has been in a bearish downtrend since then back down to the $5 level, it appears to have found support there and may resume its bull market as decentralized finance begins to play a larger part in the financial markets in 2022 and beyond.

The fact that the Synthetix protocol also incorporates a non-blockchain algorithm signifies that SNX coin is geared towards programmability.

The successful collaborations of the network have increased its momentum and value, and it is greatly contributing to the global smart contract ecosystem. See our picks for the best cryptos to invest in for 2022.

Synthetix Price

Synthetix is now trading at around $5 with a market cap of over $2,000,000,000. With an approximate quantity of 114,841,533 SNX in circulation currently, many experts are recommending investors to hold on to their SNX coins. Many see a rise in value in the future for the coin.

Synthetix Price

SNX Price Prediction

2022-2024

Synthetix is now trading at around $5 with a market cap of over $2,000,000,000. With an approximate quantity of 114,841,533 SNX in circulation currently, many experts are recommending investors to hold on to their SNX coins. Many see a rise in value in the future for the coin.

The future Synthetix price forecasts for the coin predict a promising $28 by 2022 end. As per predictions, its value will rise further in 2023. Experts predict continuous peaks for SNX and believe that it will reach a $36-$40 mark in 2023. According to these forecasts, the beginning of 2024 will see a dip in the price of SNX. It might fall back to $35 in 2024.

2025-2026

Many investors are hopeful and predict that the price of SNX will rise to $45 in 2025. It will slowly pick up its pace and traders consider it as a worthy investment now.

In 2026, the price of SNX will probably exceed $55. Since the token will be used extensively and its validity will grow over time, the SNX price is excepted to hit $60 by the end of 2026.

Ways of Buying Synthetix

Like many other cryptos, you have various ways at your disposal to buy Synthetix. You can choose any one of the options below to buy the coin conveniently.

Buying Synthetix With PayPal

Many traders prefer to buy Synthetix with PayPal as this e-wallet is globally recognized and widely used. This option offers additional security to your Synthetix purchase since you do not have to separately enter your debit/credit card details.

To buy Synthetix with PayPal on eToro, you just have to pay a deposit fee of 0.5%. When you use Paypal at eToro, your transactions are instantly processed.

Buying SNX With Credit Card or Debit Card

To buy Synthetix using a credit or debit card is also simple. The platform will process your transaction instantly and you can start with the small minimum deposit.

Users have to pay higher fees on credit or debit card purchases while buying Synthetix. For instance, Coinbase charges around 10% for this. Even Binance will use third-party partners and levy a heavy charge. In this case, the best option is eToro since it only charges 0.5% when you buy Synthetix with a debit card.

Buying SNX With Neteller or Skrill

FCA-regulated broker eToro allows you to deposit funds instantly with Neteller and Skrill. You can use your funds to buy Synthetix and the minimum trade starts at $10.

How to Buy Synthetix Safely

If you want to invest in Synthetix coin safely, go for a regulated broker. In the UK, the financial services industry is regulated by the FCA. This financial body is tasked with ensuring that retail clients are treated fairly by brokers online – and that risk warnings are transparent.

So, when researching where to buy Synthetix, it is important that you go for an FCA-regulated broker. When you select the right broker that has the most appropriate regulation, it will help you to make your Synthetix purchases fair, hassle-free, and safe.

This is why we recommend eToro and consider it as one of the best places to buy Synthetix in the UK. The broker is both authorized and regulated by the FCA. Its other regulations/licenses include those from the SEC (US), ASIC (Australia), and CySEC (Cyprus).

Keep Your Investments Modest

When you are investing in a cryptocurrency, only invest what you can afford to lose. As we have pointed out before too, Synthetix is a highly volatile and speculative asset like other cryptocurrencies. So, losing a small amount is better than regretting your impulsive investment choices.

The safest way to invest in any asset is to start with modest amounts. At eToro, you can start your trade with just $10 to buy Synthetix. This is a very small amount, especially for new investors who do not have much crypto trading experience.

Many other platforms have a higher minimum investment amount. Before you move ahead with your investment, thoroughly analyze the fees and other requirements.

Use the Best Synthetix Wallet

Another aspect that investors want to be sure of is the most suitable Synthetix wallet for safe storage. Digital currencies are stored in wallets in mobile apps, desktop software, or hard device. It is a challenge to safeguard your wallet and prevent it from being hacked.

Going for ‘hot’ storage or an online wallet is safe in this regard. You can easily keep your Synthetix tokens at a regulated broker like eToro, which offers a free crypto wallet with an unlosable private key.

How to Buy Synthetix – Tutorial

If you’re ready to invest in Synthetix coin right now but need help, this section of our guide will walk you through the process with eToro.

In choosing this broker, it will take less than five minutes from start to finish to buy Synthetix.

Plus, the minimum investment requirement is just $10 – so you get started with a small amount of money.

Step 1: Open an Account

Visit the eToro.com website to open an account. This is a simple process that requires you to enter some information about who you are. This will include your name, date of birth, home address, and mobile phone number.

etoro signup

Additionally, you also need to choose a username/password and verify your email address. Finally, eToro will ask you a couple of questions about your prior investment experience – which is to ensure that it offers you the right financial products.

Step 2: Upload ID

You will now be asked to verify your newly created account. This can be completed near-instantly by uploading two documents.

First, for proof of address, upload a recently issued utility bill or bank statement. Second, upload a passport or driver’s license for proof of identity.

etoro verification

If you don’t have the aforementioned documents to upload right now – you can still make a deposit and subsequently buy Synthetix. However, your deposit limit will be capped to €2,000 (about £1,600) and you won’t be able to make a withdrawal until this is done.

Step 3: Deposit Money

Next up is the deposit process. If you want to deposit funds instantly so that you can proceed to buy Synthetix without delay – consider using a debit or credit card issued by Visa or MasterCard.

You can also fund your account instantly when using Paypal or Skrill. Bank transfers, on the other hand, can take anywhere from 0-3 working days.

etoro deposit funds

Regardless of the payment method you choose, eToro requires a minimum deposit of only $10 – which is around £7. Furthermore, you will pay a small fee of 0.5% on the deposit amount.

Step 4: Search for Synthetix

With thousands of markets supported on the eToro website, it’s best to search for Synthetix so that you can go straight to the relevant investment page.

As you can see from the image above, when ‘SNX’ appears, click on the ‘Trade’ button to load an order box.

Step 5: Buy Synthetix

If this is your first time trading online – you should know that the Synthetix investment process at eToro has been designed for beginners.

Synthetix buy online

As such, the only piece of information that you need to provide is the amount of money that you wish to invest. As noted earlier, this can be any amount of your choosing – as long as you meet the minimum of $10.

Once you are happy with the amount entered, you can complete the Synthetix investment process by clicking on the ‘Open Trade’ button.

Conclusion

In our comprehensive guide, you have probably gotten your answers on how to buy Synthetix coin. Are you now prepared to go ahead with your investment? Were you able to grasp everything we wrote about in our detailed review?

Apart from where and when to invest, we also told you the pros and cons of various crypto exchanges and brokers. You also learnt about the risks and prospects of buying Synthetix. If you want to buy Synthetix today we recommend the FCA-regulated eToro, a user-friendly platform to execute your trades at low fees.

It is only a matter of a few minutes to open your eToro account. You can instantly deposit your funds which start from just $10 (about £7) and use a debit/credit card or e-wallet to make your payment. After that, proceed to buy Synthetix and go for the competitive spreads offered by eToro.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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Traciwininger
Author: Traciwininger

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