Buy Synthetix (SNX)

Follow the steps below to easily and securely buy Synthetix.

You can securely store your Synthetix in your Finst wallet. Some cryptocurrencies also support external wallets, allowing you to send your crypto to your own wallet if desired. We use state-of-the-art security measures to keep you and your crypto safe.

We work with Fireblocks, one of the most trusted crypto security infrastructure providers, to safely store your Synthetix. They make use of Multi-Party Computation (MPC) technology which is an advanced cryptographic technology used to protect your digital assets.

Additionally, Finst is the first and only Dutch crypto platform that has successfully conducted an extensive Proof of Reserves (PoR) audit. With Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

Yes, at Finst, you can easily buy Synthetix with iDEAL. We also support popular payment methods like SEPA and Bancontact.

At Finst, you can start investing in Synthetix with as little as €1. For many coins, it is not necessary to buy a whole coin.

Yes, it is safe to buy Synthetix through Finst. We are registered as a Crypto Service Provider (no. R189158) with the Dutch Central Bank (DNB), and we are the first and only Dutch crypto platform that successfully obtained a Proof of Reserves (PoR) from an independent and reputable audit firm (Audit Now). At Finst, your assets are segregated and held on a 1:1 basis, plus reserves.

Yes, buying Synthetix is legal in Europe. However, we advise you to do your own research before making a purchase.

Investing in cryptocurrencies like Synthetix involves risks of losses. You can lose (part of) your deposit. Before you decide to buy Synthetix, it is important to understand the risks.

Volatility: The price of Synthetix can fluctuate significantly. This means that its value can rise and fall quickly.

No guaranteed profit: Previous price increases do not guarantee future returns. Therefore, only invest money that you can afford to lose.

External factors: The price of Synthetix is influenced by external factors, such as economic conditions and the actions of influential individuals, governments, and institutions. These factors can have a positive or negative impact on the price.

When you buy Synthetix through Finst, you benefit from the most competitive trading fees of 0,15% per transaction.

Any fees you may encounter when trading crypto are clearly shown for every transaction on our platform.

It's important to note that network fees are outside of our control, as they are determined by the blockchain networks themselves.

This means that while network fees may vary depending on the blockchain and current demand, our trading fee remains consistent, helping you better manage your transaction costs.

No, due to laws and regulations, it is not possible to buy Synthetix or other cryptocurrencies anonymously on a regulated crypto platform in Europe.

At Finst, we support several order types to buy Synthetix: Market Order, Limit Order, and Auto Invest (DCA).

- With a Market Order, you buy Synthetix instantly at the best available market price.

- Do you want to buy Synthetix at a lower price? With a Limit Order, you set the maximum price you're willing to pay for Synthetix. Your order will be executed once your limit price is reached on the market.

- Do you want to invest in Synthetix without constantly checking the market? With Auto Invest, you can schedule automatic and recurring purchases. Whether you want to buy daily, weekly, bi-weekly, or monthly - you choose the frequency.

Yes, on our platform, you can easily buy Synthetix with a Limit Order. This allows you to set the maximum price you're willing to pay. Your order will be executed once the price of Synthetix reaches your limit price or lower.

A Limit Order is ideal if you want to wait for a better price without constantly monitoring the market.

Yes, with Auto Invest, you can set up daily, weekly, bi-weekly, or monthly purchases of your favorite crypto using the Dollar Cost Averaging (DCA) strategy. Create your own investment plan and DCA Synthetix without any action required or additional fees.

Do you prefer to store your crypto on your external wallet? At Finst, we have various cryptocurrencies enabled for automatic withdrawals, which are sent straight to your wallet after each recurring purchase.

Yes, you can send your Synthetix to an external wallet. With Finst, you can easily send your Synthetix to a hardware or a software wallet.

Yes, you can store Synthetix (SNX) on hardware wallets such as Ledger or Trezor.

Synthetix Network is a decentralized liquidity protocol and DeFi tool that enables the trading and creation of representative tokens. These are called synthetic assets (Synths). Trading Synths is made possible by Synthetix on Ethereum and Optimism. A Synth can represent another cryptocurrency, but also traditional stocks, fiat currencies, and commodities. The unique thing about Synths is that you don’t need to actually own the underlying asset to invest in it. This makes Synthetix a unique DeFi tool because it allows users to invest in a variety of assets without the involvement of a third party like a centralized financial institution.

Synthetix works with a collateralization mechanism. The native token SNX is used to create new Synths (minting). The collateralization process works like this: a holder stakes their SNX tokens in exchange for Synth tokens like sUSD and sBTC. The staked tokens are then used as collateral. To ensure the stability of the network, Synthetix aims for a collateralization ratio of 400%. This means that for every dollar in issued Synths, there must be four dollars in collateral.

Synthetix works with other decentralized protocols to keep the prices of Synths up to date. This is done through decentralized oracles, such as Chainlink.

A major advantage of the Synthetix network is that there is no counterparty required to trade against. The protocol itself acts as the counterparty, which leads to deeper liquidity and less slippage.

Thanks to the integration with DeFi platforms like Curve and Kwenta, Synthetix also offers advanced trading options like futures and perpetual contracts. This allows users to speculate on price movements and use leverage without owning the underlying asset. The implementation of Optimism alongside Ethereum enables users to trade faster and cheaper, as Optimism processes transactions more efficiently and lowers transaction fees.

Synthetix Network was founded in 2018 by Kain Warwick, a well-known entrepreneur in the DeFi sector. Before launching Synthetix, he founded Blueshyft, a payment platform used by several Australian crypto exchanges.

Synthetix originally started as Havven, a project focused on decentralized stablecoins, but was later rebranded and expanded into a broader protocol for synthetic assets. In 2018, an Initial Coin Offering (ICO) was held, raising about $30 million. Initially, 100 million SNX tokens were issued. After the rebranding, the project expanded the total supply with an additional 250 million tokens. The token supply will continue to evolve in the future based on the economic model of the protocol.