Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy Mdex. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!

Sign up with Swyftx

Mdex

Australia has a good amount of reliable and regulated cryptocurrency trading platforms, so it’s quite easy finding an exchange that has Mdex. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.

Let’s get into it!

How to Buy Mdex in Australia

There are only 4 main steps involved and it’s pretty straightforward:

  1. Choose a crypto exchange
  2. Sign up with the exchange
  3. Fund your account with AUD
  4. Buy Mdex

1. Choose a crypto exchange

As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has Mdex in its list of cryptocurrencies.

Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.

And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.

So for this guide on buying Mdex, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer Mdex.

Alternatively, if you want to know more about the exchanges we prefer, read our list of the most secure crypto exchanges.

2. Sign up with the crypto exchange

Once you’ve decided on which exchange to use, it’s time to sign up.

Sign up with Swyftx and grab $20 free BTC.

Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.

Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.

Once done, it’s time for the next step.

3. Funding your account with AUD

To buy Mdex, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.

Swyftx Deposit Methods

4. Buy Mdex

The final step is to go to their asset list, find Mdex, navigate to the buy section, and then trade your AUD for some MDX. Once you’ve bought Mdex, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.

Where to Buy Mdex (MDX)

ExchangeRatingCryptocurrenciesSite
Swyftx logo5/5300+ cryptocurrenciesVisit Swyftx
CoinSpot logo4/5200+ cryptocurrenciesVisit Coinspot
binance logo3/5400+ cryptocurrenciesVisit Binance

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

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How to Sell Mdex

If you’re thinking about selling Mdex, just follow the steps below.

  1. Sign in to the cryptocurrency trading platform (like Swyftx).
  2. Click on Mdex in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
  3. FInd the sell section and sell Mdex for AUD, or trade it for another cryptocurrency.

Frequently Asked Questions

Is buying Mdex in Australia legal?

Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.

How to buy Mdex with PayPal?

Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find Mdex. Have a look on their site first, you might be lucky.

How to buy Mdex with a credit card or debit card?

Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy Mdex with your credit/debit card.

About Mdex

MDEX was launched in January 2021 as a decentralized trading protocol.

MDEX, or automated market making, is a protocol for decentralizing exchanges. It is based on the concept of fund pools and shares many similarities with other standard DEXs. It is unique in that it uses a dual-chain model, which is based on the Ethereum network (ETH), and the Huobi Ecological Chainss (HECO), which allows for it to access the liquidity from the Ethereum ecosystem.

MDEX, a trading platform built on HECO, is MDEX. It can trade in tokens at $0.001 per trade, and it has a transaction speed of up to three seconds.

Although the majority of DeFi assets is ERC-20 assets it still faces issues with high transaction speeds and gas fees as it transitions into Ethereum 2.0.

Most new protocols take into account the scalability factor in choosing blockchain networks if they wish to see rapid adoption. Uniswap was launched before the Ethereum network became congestion. This gave it at least some advantage. Some claim that Uniswap caused the network's congestion. If second-layer solutions are not implemented within the required timeframes and produce the desired results, Uniswap may see its market share drop quickly.

This unique feature of the Huobi Ecological Chain-based Mdex is that it is built on a chain that aims to avoid scaling issues.

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