Buy Synthetix: A Comprehensive Guide on How to Buy SNX – Best Exchanges & Brokers

Synthetix (SNX), a leading protocol in the DeFi space, has gained significant traction since its launch. Its innovative approach to synthetic assets and decentralized finance attracts a growing number of crypto enthusiasts. We’ll show you simple, fast, and secure ways to buy and store Synthetix (SNX). To keep things short, we believe that COinbase is the best option to buy Synthetix. Why Coinbase?

The following table explains why Coinbase is the best choice for buying Synthetix.

Buy Synthetix on Coinbase

Coinbase is a regulated crypto custodian with licenses around the world. This means Coinbase meets strict security standards and is supervised by financial authorities. Even BlackRock, the world’s largest asset manager, entrusts Coinbase with the custody of Bitcoin for its Bitcoin ETFs. This speaks to the extremely high level of security Coinbase provides.

While you have the flexibility to use external wallets, Coinbase offers a highly secure environment for storing your Synthetix (SNX). Unlike some platforms that impose delays on withdrawals, Coinbase processes them immediately, giving you quick access to your funds.

Cost-effectiveness is another advantage. Coinbase’s fees are remarkably competitive at 0.15%, significantly lower than the industry average. To put this into perspective, other providers can charge up to 1.5% for crypto transactions.

Coinbase prioritizes user security with features like two-factor authentication, adding an extra layer of protection to your account. They also offer customer support, typically responding within 24 hours. (We can personally vouch for their support team’s efficiency and helpfulness.)

The platform itself is designed with user-friendliness in mind. Its intuitive interface caters to both novice and experienced traders. And with dedicated apps for Android and iOS devices, you can manage your Synthetix (SNX) portfolio and execute trades conveniently from anywhere.

Coinbase is one of the most popular and user-friendly platforms to buy Synthetix (SNX). Here’s how you can buy SNX easily, securely, and quickly on Coinbase.

Step 1: Sign Up for Coinbase

Before you can start buying Synthetix, you need to create an account on Coinbase. Visit Coinbase.com and click “Get Started.” You will be prompted to enter your name, email, and a password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

Coinbase requires you to verify your identity in order to comply with regulatory requirements. You will need to upload a government-issued ID and provide personal details like your address and date of birth. This process may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Synthetix, you need to link a payment method. Coinbase supports several options, including:

• Bank Account: Link your bank account for lower fees and higher transaction limits.
• Credit or Debit Card: Ideal for faster purchases, though fees are typically higher than bank transfers.
• PayPal: Coinbase also supports PayPal for deposits and withdrawals in certain countries.

Step 4: Buy Synthetix (SNX)

Once your account is set up and your payment method is linked, you’re ready to buy Synthetix!

1. On the Coinbase dashboard, navigate to the “Buy/Sell” section.
2. Select Synthetix (SNX) from the list of available cryptocurrencies.
   
3. Enter the amount of Synthetix you wish to purchase, either in your local currency (e.g., USD, EUR) or SNX.
4. Choose your payment method (e.g., bank account, credit card).
5. Review the transaction details, including any fees, and click “Buy Now” to complete the purchase.

Step 5: Store Your Synthetix Securely

After purchasing Synthetix, it will be stored in your Coinbase wallet. For added security, it’s recommended to transfer your SNX to a personal wallet (such as a hardware wallet from Ledger or Trezor) rather than keeping it on Coinbase, which is an online exchange.

Benefits of Buying Synthetix on Coinbase:

• User-Friendly Interface: Coinbase is known for its intuitive design, making it easy for beginners to navigate.
• High Security: Coinbase uses industry-standard security measures such as two-factor authentication (2FA) and insurance for funds held in the Coinbase Vault.
• Wide Payment Options: Coinbase supports multiple payment methods, including bank transfers, credit cards, and PayPal.

Buy Synthetix on Binance

Binance is one of the world’s largest and most popular cryptocurrency exchanges, known for its high security and user-friendly platform. Until recently, it was not possible to directly buy Synthetix (SNX) using Euro (EUR) or US Dollars (USD) on Binance. However, this has now changed, and you can easily purchase Synthetix with a credit card or trade SNX using different cryptocurrencies. In this guide, we’ll walk you through both options!

Step 1: Register on Binance

Unlike many other exchanges, Binance offers the option to verify your identity. This is not mandatory, but completing the verification process will allow you to increase your daily withdrawal limit to 100 BTC (or equivalent). Without verification, the daily limit is 2 BTC, and you can still use all the other platform features.

Step 2: Buy Synthetix (SNX) with a Credit Card

To buy Synthetix via credit card on Binance, follow these steps:

1. Navigate to the Credit Card Section: In the top menu, click on “Buy Crypto” and then select “Credit/Debit Card.”
2. Select Your Payment Currency: Choose Synthetix (SNX) as your cryptocurrency and select your payment currency (Euro, USD, etc.).
3. Enter Your Personal Information: Fill in your details in the provided fields if prompted.
4. Verify Email and Phone Number: You will need to verify your email and phone number using a code sent by Binance.
5. Proceed to Payment: After verification, click “Next” to enter your credit card information.
6. Upload ID for Verification (if required): Some transactions may require identity verification. Upload the front and back of your government-issued ID.

Important Notes Before and After Your Purchase

• SNX Price Fluctuation: The Synthetix amount displayed is based on the current price and may change due to market volatility.
• Transaction Fees: Binance charges a competitive fee for credit card transactions, usually around 1.8%–2.5%, depending on the payment method.
• Transaction Limits: Daily and monthly purchase limits vary based on your verification status and payment method.
• Track Payment Status: After completing your purchase, you can check your payment status and transaction history in the “Orders” section of your Binance account.

Step 3: How to Trade for Synthetix (SNX) on Binance

If you already have other cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), or Tether (USDT), you can deposit them into your Binance account and trade them for Synthetix (SNX). Here’s how:

1. Deposit Cryptocurrency: If you have crypto on another exchange or wallet, send it to your Binance wallet address.
2. Access the Deposit Section: Once logged in, click on “Wallet” in the navigation bar, then select “Fiat and Spot” and click “Deposit.”
3. Find Your Wallet Address: Choose the cryptocurrency you wish to deposit (e.g., ETH) and copy your Binance wallet address to send funds from your external wallet.
4. Exchange for Synthetix (SNX): Once your crypto has arrived in your Binance account, go to the “Markets” tab, search for SNX trading pairs like “ETH/SNX” or “USDT/SNX,” and place an order.

Additional Trading Tips

• Spot and Margin Trading: Binance offers both spot and margin trading. Margin trading allows you to leverage your trades for potentially higher profits (but with increased risks).
• Security Measures: Enable two-factor authentication (2FA) to secure your account. Binance also offers advanced security features, including cold storage for funds and SAFU (Secure Asset Fund for Users) for added protection.

Buy Synthetix on Kraken

Kraken is a regulated crypto custodian with licenses across various jurisdictions globally. This means Kraken adheres to stringent security standards and is overseen by financial authorities, ensuring the safety of your assets. Kraken is trusted by institutional investors, including major entities in the financial world, for the custody of cryptocurrencies, which highlights the extremely high level of security Kraken provides.

Kraken offers the flexibility to use external wallets, but it also provides a highly secure environment for storing your Synthetix (SNX). Unlike some platforms, Kraken processes withdrawals swiftly, allowing you to access your funds promptly.

When it comes to cost-effectiveness, Kraken’s fees are highly competitive. The platform’s trading fees are structured in a tiered manner, with the lowest fees reaching 0.16% for makers and 0.26% for takers, which are notably lower than many competitors in the market.

User security is a top priority at Kraken, with features such as two-factor authentication (2FA) and advanced encryption to protect your account. The platform also offers customer support that typically responds quickly, providing assistance whenever needed.

Kraken is designed to be user-friendly, accommodating both beginners and advanced traders. Its intuitive interface is complemented by mobile apps for both Android and iOS devices, enabling you to manage your Synthetix (SNX) portfolio and execute trades conveniently on the go.

Kraken is one of the most trusted and secure platforms to buy Synthetix (SNX). Here’s how you can buy SNX securely and efficiently on Kraken.

Step 1: Sign Up for Kraken

To get started with buying Synthetix, create an account on Kraken’s platform. Visit Kraken.com and click on “Create Account.” You will be asked to enter your name, email, and create a secure password. Once completed, click “Create Account.”

Step 2: Verify Your Identity

Kraken requires you to verify your identity to comply with financial regulations. You will need to upload a government-issued ID and provide personal details such as your address and date of birth. This verification process is necessary for your security and may take a few minutes to complete.

Step 3: Add a Payment Method

To buy Synthetix, you must link a payment method. Kraken supports several payment options, including:

• Bank Account: For lower fees and higher transaction limits.
• Credit or Debit Card: Ideal for faster purchases, though fees tend to be slightly higher than bank transfers.
  
• Wire Transfers: For larger purchases, Kraken also supports wire transfers in several countries.

Step 4: Buy Synthetix (SNX)

Once your account is set up and a payment method is linked, you’re ready to buy Synthetix!

• On the Kraken dashboard, go to the “Buy Crypto” section.
  
• Select Synthetix (SNX) from the list of cryptocurrencies.
• Enter the amount of Synthetix you’d like to purchase, either in your local currency (e.g., USD, EUR) or in SNX.
• Choose your payment method (e.g., bank account, debit card).
• Review the transaction details, including any fees, and click “Buy Now” to finalize your purchase.
  

Step 5: Store Your Synthetix Securely

After purchasing Synthetix, it will be stored in your Kraken wallet. For enhanced security, it’s recommended to transfer your SNX to a personal wallet, such as a hardware wallet (e.g., Ledger or Trezor), rather than keeping it on Kraken, an online exchange.

Benefits of Buying Synthetix on Kraken:

• User-Friendly Interface: Kraken is known for its clear and easy-to-navigate design, making it simple for beginners to use.
• High Security: Kraken employs top-tier security measures such as two-factor authentication (2FA) and provides insurance for funds held in its vault.
• Competitive Fees: Kraken offers low, competitive fees, making it an attractive option for both small and large transactions.
• Multiple Payment Options: Kraken supports various payment methods, including bank transfers, credit cards, and wire transfers, to cater to different user needs.

Buy Synthetix on Kriptomat

About Kriptomat

In contrast to the established broker eToro, Kriptomat is a comparatively young crypto exchange, but no less trustworthy. On Kriptomat, you can buy over 30 cryptocurrencies, including Synthetix (SNX), directly via Euro, USD, and other fiat currencies, and also send them directly to an external wallet. It is important to know that trading is currently restricted to Europe, so investors from, for example, the USA are not allowed to use the platform.

The focus is on an easy-to-use and modern user interface that allows anyone to buy and trade cryptocurrencies. Therefore, Kriptomat is our top recommendation, especially for beginners! As far as credibility is concerned, Kriptomat holds two licenses from the Estonian government, ensuring strong regulatory compliance.

Furthermore, there is another unbeatable advantage of Kriptomat: the fees. In contrast to other exchanges and brokers, Kriptomat does not charge a price premium. Your purchase price corresponds to the spot price of Synthetix. Kriptomat only charges a nominal fee for each transaction, which is always displayed transparently during the creation of the buy order. The deposit fees look like the following:

Set Up a Synthetix (SNX) Account on Kriptomat

First of all, you should know that Kriptomat adheres very closely to the legal requirements of the European Union and therefore requires complete verification of your identity. In order to buy Synthetix on Kriptomat, you first need to create an account. To do so, go to the official website kriptomat.io and click on the orange “Register” button. This will open a pop-up window where you have to enter your first and last name, an email address, and a password for the exchange.

Kriptomat will then send you an email with a confirmation link. By clicking on the link, you verify your account. As soon as you have done this, you can log in to your Kriptomat account with the access data you have just entered. However, at this point, you are not yet finished with the registration.

Before you can buy Synthetix and use further features of the exchange, you have to enter and verify your phone number. Kriptomat will send you an SMS containing a verification code that you have to enter on the website. However, the registration process is not yet complete. Due to the strict EU guidelines, you still have to confirm your full identity. To start the process, simply click on the corresponding prompt (see screenshot).

A new pop-up will then open in which you must first enter your address (street, house number, city, country). You will also need to upload a photo or scan of your passport or ID card. Kriptomat provides an elegant and fast solution for this. You can easily continue the registration process on your smartphone. Just click on the link, and Kriptomat will send you an SMS with a link to continue the process.

You can then take a photo of your ID (front and back) with your smartphone and upload it immediately. The same applies to the final step. To verify your identity, Kriptomat requires a selfie from you. You can allow Kriptomat to access your smartphone’s camera and take a selfie directly.

If you want to buy cryptocurrencies via SEPA bank transfer, it is also necessary to add a bank account to your Kriptomat account in the last step. You can then deposit money via SEPA and use your “credit” to buy Synthetix and other cryptocurrencies. If you use Neteller, Skrill, or your credit card, this is not necessary. Once you have completed the registration process described above, the following purchase limits are available to you. There is no distinction between different verification levels, as on other crypto exchanges, because you have already completed the full verification.

Buy Synthetix (SNX) on Kriptomat

Buying Synthetix on Kriptomat is very simple and intuitive. First, go to the “Buy/Sell” tab (step 1) and then select the “Buy” tab (step 2). In the now visible area below, you can select Synthetix (SNX) to buy it.

You can then choose from four different payment methods (step 3). While you need to add a bank account to your Kriptomat account to make a deposit via “EUR,” i.e., SEPA bank transfer, the other three options (credit card, Neteller, Skrill) allow you to purchase immediately without having to enter any further data.

In the fourth step (see screenshot), you only have to enter your purchase amount for Synthetix (SNX). After you click on “Buy Synthetix,” you will see the transaction fees for the order. To finalize the purchase, you must click “Confirm transaction.”

Kriptomat will then confirm the purchase and redirect you to your “My Wallet” section. Within a few seconds, your purchased amount will be displayed here. A good summary of the purchase process is also provided in the following video tutorial:

Buy Synthetix at Anycoin

Anycoin is a popular cryptocurrency exchange platform that offers a simple and secure way to buy and sell Synthetix (SNX) and other cryptocurrencies. It caters to both beginners and more experienced traders, providing an intuitive interface and a variety of features designed to make crypto trading easier and more secure.

Key Features of Anycoin:

1. User-Friendly Interface: Anycoin offers a straightforward and clean platform, making it easy for new users to start trading and for more experienced traders to access advanced features.
2. Wide Selection of Cryptocurrencies: Anycoin supports a range of cryptocurrencies including Synthetix (SNX), Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and more, allowing you to diversify your portfolio easily.
3. High Security Standards: Security is a priority for Anycoin, with features like two-factor authentication (2FA) and SSL encryption to protect user accounts and transactions. This ensures your crypto holdings are safe from external threats.
4. Low Fees: Anycoin aims to provide competitive fees for trading and transactions, making it an attractive option for those looking to minimize costs while trading digital assets.
5. Multiple Payment Methods: Users can purchase cryptocurrencies using various payment methods, including bank transfers, credit cards, and sometimes even PayPal, depending on their location.
6. Fast Transactions: Anycoin processes transactions quickly, allowing users to purchase cryptocurrencies without long delays. This quick access to funds is a major benefit for those who need to act fast in the market.
7. Support for Wallets: While Anycoin provides its own wallet to store your crypto assets, it’s also recommended to use your own personal wallet for added security. This can include hardware wallets or other types of secure storage.
8. Dedicated Customer Support: Anycoin offers customer support, providing assistance with any issues or inquiries that might arise during your experience on the platform.
9. Mobile Apps: Anycoin has apps available for both Android and iOS devices, making it easy to manage your portfolio and execute trades on the go.

How to Buy Synthetix (SNX) on Anycoin:

1. Create an Account: Start by visiting the Anycoin website and clicking on “Sign Up.” Enter your name, email address, and create a password. Afterward, you’ll receive a verification email to confirm your account.
2. Verify Your Identity: Anycoin will ask you to complete a verification process to comply with regulatory requirements. This may involve submitting a government-issued ID and some personal information.
3. Link a Payment Method: To buy Synthetix, link a payment method to your account. Anycoin supports various payment options like bank transfers, credit cards, and PayPal.
   
4. Make Your Purchase: Once your account is verified and your payment method is linked, go to the “Buy” section, select Synthetix (SNX), and enter the amount you wish to purchase. Review the transaction details and fees, then complete your purchase.
   
5. Store Your Synthetix Securely: After buying Synthetix, it will be stored in your Anycoin wallet. However, for extra security, it’s recommended to transfer your SNX to a personal wallet (e.g., a hardware wallet) for safe storage.

Benefits of Using Anycoin:

• Simple and Easy to Use: With its user-friendly interface, Anycoin makes cryptocurrency trading accessible to everyone, including beginners.
• Secure Platform: Advanced security measures, including 2FA and SSL encryption, help ensure your funds are safe.
• Variety of Cryptocurrencies: You can easily buy Synthetix and other major cryptocurrencies on Anycoin.
• Competitive Fees: Anycoin offers low transaction fees, making it a cost-effective platform for crypto trading.
• Quick Transactions: The platform processes transactions quickly, providing fast access to your purchased assets.

Buy Synthetix at ByBit

Bybit is a popular cryptocurrency exchange platform that specializes in trading digital assets such as Synthetix (SNX), Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Known for its advanced features and high liquidity, Bybit is primarily used by more experienced traders, especially those interested in leverage trading and derivatives.

Key Features of Bybit:

1. Advanced Trading Tools: Bybit offers a range of professional trading tools, including spot trading, margin trading, and derivatives trading (futures contracts). The platform also provides advanced charting features and technical analysis tools to help users make informed decisions when trading Synthetix (SNX).
2. High Liquidity: Bybit is known for its high liquidity, which is particularly beneficial for traders who need to execute large trades without significant slippage. This makes it a reliable platform for both day traders and long-term investors.
3. Leverage Trading: One of Bybit’s standout features is its leverage trading options. Users can trade SNX with leverage, enabling them to amplify their positions and increase potential profits. However, this also comes with higher risks, and it’s important to use leverage cautiously.
4. User-Friendly Interface: Despite offering advanced trading options, Bybit maintains an intuitive and user-friendly interface, making it accessible for both beginner and experienced traders. The platform’s clean design helps users navigate the various trading tools easily.
5. Security Features: Bybit places a strong emphasis on security with features such as two-factor authentication (2FA), cold storage for crypto assets, and an insurance fund to cover potential losses during extreme market conditions. These measures help ensure the safety of user funds.
6. Mobile App: Bybit offers mobile apps for both Android and iOS, allowing users to trade and manage their SNX holdings on the go. The mobile apps have many of the same features as the desktop platform, providing flexibility for traders who need to stay connected to the markets at all times.
7. Fast Transactions: Bybit offers quick and seamless transactions, with order execution speeds often cited as some of the fastest in the industry. This ensures that trades are executed without delay, which is crucial in volatile markets.
8. Referral Program: Bybit has a referral program that allows users to earn rewards by inviting others to join the platform. This is a great way for traders to earn additional income while growing the community.
9. Customer Support: Bybit provides 24/7 customer support to help users with any issues or questions. The platform offers support through live chat, email, and other communication channels, ensuring that help is readily available.

How to Buy Synthetix (SNX) on Bybit:

1. Create an Account: Start by visiting the Bybit website and clicking “Sign Up.” You’ll need to provide your email address and create a secure password. After registering, you will receive a verification email to activate your account.
2. Verify Your Identity: To comply with regulatory standards, Bybit may ask you to complete a KYC (Know Your Customer) verification process. This can involve uploading a government-issued ID and some personal information to verify your identity.
3. Deposit Funds: Once your account is set up, you need to fund your account. Bybit supports deposits in several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and others. You can deposit these digital assets directly into your Bybit wallet.
   
4. Buy Synthetix (SNX): To buy Synthetix on Bybit:
   • Navigate to the “Spot” trading section on the platform.
   • Select Synthetix (SNX) as the cryptocurrency you wish to purchase.
   • Choose your trading pair (e.g., SNX/USDT).
     
   • Enter the amount you want to buy and review the transaction details.
   • Confirm the purchase to complete the transaction.
5. Store Your Synthetix (SNX): After purchasing Synthetix, you can store it in your Bybit wallet. However, for added security, it’s recommended to transfer your SNX to a private wallet, such as a hardware wallet (e.g., Ledger or Trezor), rather than keeping it on the exchange.

Benefits of Using Bybit:

• Advanced Trading Options: Bybit is ideal for traders looking for advanced features like margin trading and leverage, along with access to a wide range of crypto assets, including Synthetix.
• Fast Execution and High Liquidity: The platform provides fast order execution and deep liquidity, which is crucial for active traders in fast-moving markets.
• Security: Bybit prioritizes user security with features like two-factor authentication (2FA), cold storage, and an insurance fund.
• Mobile Trading: Bybit’s mobile apps allow users to trade and monitor their portfolios from anywhere.
• Competitive Fees: Bybit offers competitive trading fees, making it an attractive option for traders looking to minimize costs.
• 24/7 Support: Bybit provides round-the-clock customer support to help resolve any issues or concerns quickly.

Best Synthetix wallet: Electrum

When using a desktop wallet, we have had very good experiences with the Electrum Wallet. Although originally designed for Bitcoin, Electrum can be configured to manage other cryptocurrencies, including Synthetix (SNX), through custom settings or compatible forks. We will show you briefly how to download and use it for secure SNX storage.

First, go to the official site and download the wallet (click!). If you click on the link, you’ll be directed to the official website where you can download the wallet. Scroll down slightly and click on the button “Download Electrum.”

Now you will land on a page where you need to select the appropriate wallet version for your operating system. If you’re using Windows, click on “Windows Installer” (see picture: red arrow). If you prefer the Android app, select the corresponding installer:

When the file is downloaded, click on the setup file. Choose the directory where you’d like to install the wallet and click “Install.” The installation should take no longer than 2 minutes. Once complete, click “Close.”

Congratulations! The wallet is installed. Now start the Electrum Wallet by double-clicking the Electrum icon on your desktop. The software will first ask how you’d like to connect to a server. As a beginner, we recommend selecting “Auto connect.”

Since this is your first time using Electrum, the software will detect that you haven’t created a wallet yet. Simply click “Continue” and give your wallet a name if you’d like. Next, you’ll be prompted to choose the type of wallet you want to create. If you’re new to this, we recommend selecting the “Standard Wallet.” It’s completely free and works efficiently.

Alternatively, for added security, consider creating a “Wallet with Two-Factor Authentication.” You’ll need a smartphone with the Google Authenticator app, which is available on the App Store and Google Play. While this option may come with a small fee, we highly recommend it as it significantly enhances your wallet’s security.

After clicking “Next,” you’ll need to generate a new seed phrase. This is a critical security step. We recommend selecting the “Segwit” option as it’s the most commonly used address format today. Once selected, you’ll be shown your unique 12-word seed phrase. This phrase is your key to recover your wallet if you lose access to your device or forget your password. Write it down on paper and store it somewhere safe—never share it online!

In the next step, you’ll be asked to re-enter your seed phrase to confirm you’ve saved it correctly. After that, create a strong password to secure your wallet. Use a mix of letters, numbers, and special characters. This password will be required each time you open the wallet, so keep it safe.

Now you’re ready to use the Electrum Wallet. To receive Synthetix (SNX), click on the “Receive” tab at the top right of the interface. Here you’ll find your “Receiving Address,” which you can copy and use when transferring SNX from an exchange like Bybit, Kraken, or Binance.

Once you’ve entered your Electrum receiving address on the exchange, select your payment method, complete the purchase, and wait for the transaction to process. Generally, your SNX should be credited to your wallet within a few minutes to 24 hours, depending on network congestion.

If you have any questions, feel free to leave a comment—we’ll be happy to assist you!

 

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