What is Position Exchange and how does it work?
Position Exchange is completely new to cryptocurrency and it is a decentralized trading protocol that has been powered by the vAMM. It operates on the Binance Smart Chain in its initial stages and hopes to bridge the gap between cryptocurrency and investors. The main reason why Position Exchange has made so much buzz around is because of the enhanced trading experience it provides to all crypto traders.
The protocol is known to offer some accessible and easy derivatives with help of which traders can trade with the Crypto Derivatives Products all fully on-chain transparency and trustless. Position Exchange comes with a lot of privacy and high security with a plan with help of which you will be able to expand into other assets in the future. The platform of Position Exchange is designed in such a manner that it can deliver all the benefits of using Decentralized Finance whilst bringing back the traditional centralized finance experience. Position Exchange uses vAMM to mention low costs, low slippage, and high leverage which ends up solving the issue with liquidity.
All the other tokens which have been created recently by other exchanges for crowdfunding and reducing the trading fee have quite a unique approach. Position Exchange has been in the development state since February 2021 and since it went public it has attracted a lot of attention. All the features of Position Exchange are not yet out. The developers are working on the features one by one and it is expected that all the features will be out soon. The Position Exchange token has already been released to the public along with the farming features. It is expected that Position Exchange will be releasing its staking and NFTs by September. The mainnet is also scheduled to launch in September which is great news. Position Exchange will start working on the multichain very soon so that they can reduce the on-chain gas fee. The developers have also announced that they will be releasing the mobile application by October.
Position Exchange token details
The price of Position Exchange is now at USD 5.96 which comes with a 1\24-hour trading volume of USD 3,898,456. The developers keep updating the POSI into USD in real-time. The prices of Position Exchange are up by about 22.41% in the last 24 hours. Currently, Position Exchange is ranked at 2743 with no live market cap and it is expected that by the end of the year after all the major releases the ranking will surely go up drastically. The circulation supply of Position Exchange is not available right now and it has a max supply of 100,000,000 POSI coins. Position Exchange has been listed in a lot of new crypto exchanges. Like other cryptocurrencies in the market, Position Exchange cannot be purchased directly with the help of flat money. The easiest way to purchase Position Exchange is to buy some Bitcoins from a flat to crypto exchange and then use the bitcoin to purchase it.
How to buy a Position Exchange token?
Position Exchange is comparatively a newer coin and a lot of people have shown interest in it. Since Position Exchange cannot be purchased with flat money we have listed down all the steps that investors need to follow to get a hold of Position Exchange tokens.
Register on a Flat-to-crypto exchange
If you are thinking of investing in Position Exchange then you need to remember that you will not be able to purchase it with flat money. The first thing you will need to do is find an exchange that accepts flat currency and register in it. Multiple exchanges accept flat currency so choose the one which suits all your needs. You can buy Bitcoin from the exchange to make your transaction smooth and easy. Each exchange has its own set of policies and fees for every transaction so make sure you read them carefully before investing. The registration process in the exchange is quite simple. All investors need to do is give all the correct information and verify the account. Once the account is verified they can proceed to the next step.
Buy bitcoin with flat money
Once the registration is complete investors will be able to buy all the popular cryptocurrencies available in the exchange. All you need to do is add all your payment details to the payment page and look for bitcoins in the purchase. Add as many bitcoins as you want and simply proceed to checkout. It is recommended that you use a bank account to make the transfer because processing fees in credit and debit cards are generally quite high. Complete the purchase in this step.
Transferring bitcoin to altcoin exchange
In the next step investors will need to convert their bitcoin into POSI. The first thing you need to do is look for an altcoin exchange so that you can store your purchased bitcoin. Setup a wallet with all your credentials and verify the account. Once the account is verified simply store the bitcoin you purchased in the wallet.
Find an exchange with Position Exchange
In the next step, you will need to find an exchange where you can purchase Position Exchange. Once you have done so simply create an account in the exchange and sync your crypto wallet to it. Add as many Position Exchange coins as you want into the cart and proceed to checkout. You can simply make the payment using the bitcoin you purchased from the wallet. The processing fee that the exchange will charge can also be paid with the help of bitcoins which makes the entire process quite smooth and easy. If you do not have bitcoin and have Ethereum in your wallet you can also make the payment with it.