How to Buy Alchemix | Buy ALCX in 4 Steps (September 2023)

Alchemix is self-described as ‘a platform to create yield-backed synthetic tokens'.  Its name is derived from the famous ‘philosopher's stone' – a mythical substance which, in the hands of an alchemist, can transmute metals.

Through leveraging of DeFi, Alchemix offers a variety of unique services, such as providing its clients access to ‘self-paying loans' which tap in to expected future yield on provided collateral.  This is currently done through the use of a yield-backed synthetic token known as ‘alUSD', founded on DAI stablecoins.  This service allows for users to gain access to a loan, without being forced to sell off their digital asset (DAI).  Over time, the interest earned on the users deposit is used to pay down the loan, paying it off automatically.

Beyond self-paying loans, Alchemix looks to disrupt various aspects of DeFi, including the following services.

• Automated Market Makers
• Yield Aggregators
• Yield Farming

Governance of the Alchemix platform is facilitated through tokens known as ‘ALCX'.  This means that ALCX holders have the ability to take part/vote in various network decisions, such as the allocation of treasury funds.

The Alchemix team notes that in time, it will transition its operations in to a ‘full, on-chain DAO' – meaning that the platform will be governed entirely by the community, rather than a central authority.

To learn more visit our Investing in Alchemix guide.

We list the top 5 exchanges that offer the ability to Buy Alchemix (ALCX) with a credit card, debit card, or Bitcoin (BTC).

How to buy Alchemix (ALCX) in 4 Steps

The whole process can take as little as 10 minutes and all you'll need is a smartphone or computer, photo identification and a means of payment.

1. Compare Crypto Exchanges – We list the top cryptocurrency exchanges that offer the ability to buy Alchemix (ALCX) cryptocurrency.
2. Create an account – Verify your email address and identity.
3. Make a deposit – Debit Card, Credit Card, Wire Transfer, or Bitcoin.
4. Buy Alchemix – Use your funds to Buy ALCX.

1. Uphold

A top exchange in the United States & UK, Uphold is an experienced and extremely innovative trading platform that should be able to meet your needs for trading across a number of cryptocurrencies including Alchemix (ALCX). Beyond the ease of use and innovative features within the trading platform, what stands out about Uphold is the credibility it has gained in the industry.

Uphold offers both a desktop and mobile app trading experience that is extremely intuitive. The trading view is completely customizable with the assets that you trade the most, and is very easy to navigate while providing a modern feel on both desktop and mobile. It is a very popular and suitable choice, particularly for new traders.

Besides being visibly appealing, the Uphold trading platform allows you to place your trades with great ease. Just a couple of clicks and you can make trades directly from your deposit method without even having to wait for funds to clear to your account. This one-step ordering is another innovation from a company which prides itself on the usability of its platform. Uphold also provides the ability to execute limit orders.

Germany & Netherland residents are prohibited.

Read our Uphold Review or visit Uphold.

Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.

2. Kraken

Founded in 2011, Kraken is one of the most trusted names in the cryptocurrency industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.

From humble beginnings, Kraken now offers over 200 digital assets including Alchemix (ALCX). For more sophisticated investors Kraken also offers futures and margin trading.

Kraken has continued to evolve its platform, and its commitment to the industry by being one of the first exchanges to offer buying opportunities on new tokens.

Kraken offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state)

Read our Kraken Review or visit Kraken.

3. Binance

Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Alchemix (ALCX) here are both lower fees than competing exchanges, and increased liquidity enabling you to buy and sell quickly to take advantage of market moving news.

This exchange is best for investors residing in Australia, Singapore, UK & internationally. Canadian & USA residents are prohibited.

Read our Binance Review or visit Binance.

Use Discount Code: EE59L0QP for 10% cashback off all trading fees.

4. OKX

OKX is a popular choice for many traders.  It is particularly popular among those looking to trade in a wide variety of altcoins and memecoins – including Alchemix (ALCX). OKX is known to cater to Asian-based traders with support for currencies like the Chinese Yuan. High volumes are found on this exchange which enables high liquidity.

USA & Ontario/Quebec Residents are prohibited.

Read our OKX Review or visit OKX.

5. Gate.io

Established in 2013, Gate.io has grown in to a reputable trading platform.  While it is not the most popular exchange, it provides users with an easy to use interface for beginners while maintaining robust and advanced charts for various skill levels – including technical traders. The exchange boasts a large number of altcoins including Alchemix (ALCX), and is often the first exchange to add new tokens. Notably, Gate.io maintains a strong stance against any type of market manipulation.

This exchange currently accepts Australia & UK residents.

USA & Canada residents are prohibited.

Read our Gate.io Review or visit Gate.io