Where to Buy Synthetix Coin – Beginner’s Guide

Synthetix’s native token SNX is among the 100 largest cryptocurrencies by its market capitalization; hence many investors with interest in the DeFi section consider adding it to their portfolios. After dropping to $1.4 SNX has increased by 50% since the beginning of 2023, so the coin still has the potential to be a good long-term investment.

If you’re wondering where to buy Synthetix tokens 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.

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 may proceed 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.

We will recommend the best places to buy Synthetix in our guide. For a suitable crypto provider, the guide below will be helpful.

Huobi – Use Debit Card to Buy Synthetix

Huobi is another top platform to invest in SNX. It is a reliable cryptocurrency exchange and is one of the largest globally as per trading volume. The platform has 10 million users registered globally.

It has a 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 using credit/debit cards as your payment option(s). If you use a credit card, it will incur a higher fee. You have the option of investing in more than 350 cryptos. The platform has a ‘Quick Buy’ feature and users find the feature extremely convenient. It supports over 50 local currencies.

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. Huobi has a self-custody wallet app, supporting various blockchains. Users can also use its 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.

What we like:

• Low trading fees for crypto
• Free deposits for crypto
• Credit & debit card transactions enabled
• Many assets to trade

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 is counted among the fastest-growing crypto exchanges globally. It has 150 cryptocurrencies for users.

It uses a maker/taker mechanism like other leading platforms. It charges 0.4% per trade. The fee is reduced by 10% if you use CRO to pay. This is Crypto.com’s native token.

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.

However, it has a network fee for all withdrawals and does not directly handle FIAT deposits as of now. Crypto.com also offers a crypto VISA card with 8% cashback in some places for the top tier.

The Crypto.com app enables users to buy and sell coins without any hassle. App users may also look for ‘Missions’ and complete these to earn rewards in Diamonds, which they can exchange for Mystery Boxes having CRO.

What we like:

• 0.4% maker/taker fee
• Safe crypto wallet app
• Debit/credit card transactions free for initial 30 days
• 150 cryptocurrencies
• Comprehensive educational resources

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

Coinbase – Suitable to Invest in Synthetix for Beginners

Coinbase is a licensed reliable crypto exchange suitable for beginners who want to buy cryptocurrency. Simply 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.

To buy Synthetix instantly using your debit or credit card, the charge is around3.99%. It has a 1.49% standard commission for trades. Coinbase adds a mark-up on spreads. The minimum fee is just £2 to buy Synthetix.

What we like:

• Wide range of cryptos
• Intuitive platform
• Coinbase wallet app; enables storing NFTs
• Active support for customers
• Zero inactivity fees

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

Binance – Trade Synthetix with this Globally Popular Exchange   

Binance earlier permitted 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.

The highest commission charged while buying and selling Synthetix is just 0.10% per slide. This is reduced further if you trade a huge amount or hold BNB tokens in your Binance crypto wallet. Binance is hence a good option for users looking to trade cryptocurrencies at low fees.

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

What we like:

• Huge crypto collection
• Low fees
• Has staking and NFTs
• Zero management fees for maintaining your account

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 $27.

​​While the price action has been in a bearish downtrend since the beginning of 2022, the coin’s value started to peak again by dropping to $1.4 in late 2022. Along with the uptrend of the crypto market, it may resume its bull market as decentralized finance begins to play a larger part in the financial markets in 2023 and beyond. Here are some reasons that make SNX a good investment for 2023. 

Incorporates a Non-blockchain Algorithm

One of the benefits of the Synthetix blockchain is the fact that its protocol also incorporates a non-blockchain algorithm which signifies that SNX coin is geared towards programmability. It means that investors who initially did not have access to certain markets and commodities can now access them due to Synthetix. 

Scalability

Another feature making Synthetix an exceptional crypto project is its scalability. The ecosystem is built on the Ethereum blockchain, which has recently moved to a new consensus mechanism called Proof of Stake. This consensus mechanism provides more scalability to the blockchain, ensuring more transactions are conducted in a certain time. 

Collaborations

The successful collaborations of the network have increased its momentum and value, and it is greatly contributing to the global smart contract ecosystem. Among Synthetix’s partners are Chainlik, Curve, and many others. The platform is also backed by venture capitalists supporting its development throughout the Web3 infrastructure.

Synthetix Price

Synthetix is now trading at around $2.52 with a market cap of over $651.8 million With an approximate quantity of 258,384,717 SNX coins 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 coin started its journey in 2018 with a listing price of $0.4. Its price managed to drop below $0.1 and again recovered to $0.4 during 2018 and 2019. Soon, it hit the $1 mark, and by the end of 2019, SNX was already trading at $1.23. 

Synthetic All-time Price Performance, Source:coinmarketcap.com

SNX started to reach new peaks during 2020, when it increased by 1700% compared to its initial price. After hitting its first record-breaking price of $7.2 SNX prices correlated at $2.6, but it conquered new heights in 2021 when most of the tokens hit their all-time highs. In April 2021, SNX hit its historical all-time high of $27, which was 58x higher than its listing price. 

After that, SNX’s value dropped to $5 and again increased to $15, but it still finished 2021 with a price of slightly over $5. 2022 was a bad year for the whole crypto world and SNX was not an exception. By the middle of the previous year, it already lost 200% of its value and dropped to $1.7. 

From there, the price of the coin started to grow, and for a while, it was traded at above $2. Another downtrend started in the crypto market, and the price of the coin again dropped to $1, and with $1.4, it finished 2022. The current value of the coin is $2.4 with a 24-hour price range of $2.46-$2.54 so the YTD return rate of the coin is almost 50%. 

SNX Price Prediction

How will SNX perform in the next few years? This is a question that nobody can give an exact answer to as long as the prices of cryptocurrencies are highly volatile. It is possible that SNX can keep growing and be a profitable investment for buyers, but the downtrend in the crypto market is also a possibility that can lead to a price drop again. In this section, we summarize the future price predictions for the Synthetix coin. 

2023-2025

Price predicting platforms give different predictions regarding the future prices of the SNX coin. Price Prediction Net indicates that SNX will have an average trading price of $3.47 in 2023 with a maximum price of $4.04. SNX can hit $5 in 2024 and in 2025 its average trading price can be $7.33 with a possibility of having a maximum price of $8.52.

According to Digital Coin Price, SNX price will hit $5 in 2023 when it will have an average price of $5.22. The platform indicates that in 2024 SNX can reach $6 and have a maximum price of $6.46. As for 2025, the coin’s average value will be $8.45 with the highest price of $8.95 and the lowest price of $7.43. 

In contrast to these platforms, Wallet Investor is not as optimistic. It foresees a downtrend for the SNX coin. According to this platform, the coin will lose 94% of its value and drop to $0.1 in one year. 

2026-2027

Both Digital Coin Price and Price Prediction are optimistic about the performance of the SNX coin in the long-term perspective. According to the first one, SNX will be traded above $10 from 2026. SNX will have an average trading price of $11 in 2025 and 2027 and by 2030 its average price will even reach $26.

According to the Price Prediction’s data, SNX’s average price will reach $15 in 2027, with the highest price of $17.27. SNX will hit $20 in 2028 and $30 in 2029. The platform indicates that the coin will have an average price of $45.6 in 2030, with the lowest price of $44 and the highest price of $51.8. 

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.

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.

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.

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.

Many platforms have a high 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 best and most suitable 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, which offers a free crypto wallets with an unlosable private key.

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

FAQs