How to buy

How to Buy Synthetix ($SNX) – Beginner’s Guide

Synthetix ($SNX) is a confusing cryptocurrency to buy. There’s no good guide out there explaining everything you need to know. That’s why we created this beginner’s guide. In this article, I’m going to walk you through how to buy Synthetix so that you can start trading/investing in it.

How to Buy Synthetix ($SNX) – Beginner’s Guide

What is Synthetix ($SNX)?

Synthetix ($SNX) is a new token based on the Ethereum blockchain, which aims to revolutionize decentralized finance. Synthetix creates a decentralized finance (DeFi) protocol that provides on-chain exposure to a wide variety of crypto and non-crypto assets. The protocol offers users a highly liquid synthetic asset (synths). Synths’ primary role is to provide a return on underlying assets without requiring to hold one directly. What makes Synthetix unique is that it allows users to trade and exchange synths autonomously. It also has a staking pool where holders can stake their SNX tokens and are rewarded with a share of the transaction fees on the Synthetix Exchange. Synthetix was launched in 2017 and promises holders on the long-term sustainability of the token by ensuring consensus to allow the SNX token to hold its value in the long run.

Synthetix ($SNX) initially launched at USD 0.43, with a 24-hour trading volume of $44,992,135 USD, which is slightly down by 0.04% in the last 24 hours. However, there is no current information about the total market cap, and since its launch, $SNX has gained around 455.8% of its value and is currently (as of October 1st, 2022) priced at USD 2.38 a pop. The current coin supply is 238,500,594 SNX coins, and the maximum supply is 291,657,310 SNX coins.

How to buy Synthetix ($SNX)?

No matter what people say, it’s easy to buy Synthetix ​​with a credit card. Your first step will always be to buy BTC/ETH/USDT/BNB with your credit card. They can then be converted to Synthetix. Transfer BTC/ETH/USDT/BNB to an exchange that supports Synthetix. Finally, exchange it for Synthetix. Please follow our step-by-step guide below on how to buy Synthetix ($SNX).

The well-known website Coinbase has already enabled trading for Bitcoin Cash, Ether, and Litecoin, but what about what’s commonly referred to as altcoins? Here’s how to buy Synthetix ($SNX)!

Step 1: Register on Fiat-to-Crypto Exchange

The first thing you will need to do is register with one of the many exchanges that allow fiat-to-crypto purchases. You can buy cryptocurrency on exchanges or peer-to-peer. On exchanges you can use fiat money to buy cryptocurrency, for example, you can use USD to buy Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC).

In this case, we need to buy Ethereum (ETH) from Coinbase.

Coinbase CryptoBuyClub

Coinbase is also one of the largest crypto exchanges that accept fiat deposits. Use the link below to register at Coinbase and you will receive a free amount of $10 worth of BTC after buying $100 worth of cryptos.


This can be done by going to the website and clicking “Sign Up.” You will be required to enter your name, and email address, create a password and verify your email address.

Verify Coinbase Account

After your account has been created, you will be required to go through the KYC (know your customer) process. The KYC process also requires you to provide proof of identity and proof of residency.

Coinbase KYC

During the KYC process, you may be required to add a picture of yourself holding up your government-issued ID and a picture of yourself holding up your driver’s license or passport. Once this is complete, you should have successfully registered and can now buy cryptocurrency!

Step 2: Buy ETH with fiat money

Select ETH and enter how much money you want to spend/how many coins you want to buy in the windows at the bottom of the page. Once this is done, click on the Buy button. Now you will have to confirm your purchase. Do this by pressing the Confirm purchase button. You now own some ETH. However, don’t close Coinbase just yet – we’ll use it later!

Coinbase CryptoBuy

Note: If you use a card on Coinbase, your fees will be higher, but your purchases will be instant. It’s cheaper to use bank transfers, but it’s slow – it can take up to a week to receive your coins. When your payment details are verified, click on the ‘buy/sell’ button in the top menu.

Step 3: Transfer ETH to MetaMask

You can use ETH to buy most coins and tokens in the market. The quickest way to buy Synthetix is to transfer your ETH to Metamask Wallet (or the exchanges listed below for US traders) and swap your ETH for SNX on UniSwap.

  • Head over to your Coinbase dashboard and click on the “Accounts” tab.
  • Under the category “Deposit,” you will see a list of all the digital assets that Coinbase makes available for trading. If you want to transfer Ethereum from Coinbase to MetaMask, click on the “Send” button next to your Ethereum balance.Send Ethereum from Coinbase
  • If you want to send all of your Ether, click on “Max” next to “Amount” Otherwise, you can manually input an amount by clicking on this field and typing in a number.
  • In the “Recipient Address” field, paste your MetaMask wallet address (or manually type it in). This is where your Ether will be sent after you complete these steps.
    Metamask Wallet Address
  • Next, click on the blue “Continue” button at the bottom right corner of the page. At this point, Coinbase will ask you to confirm the transaction by entering your password into a pop-up.

Now you will need to find an exchange that allows you to deposit ETH and trade it for Synthetix. As SNX Coin is currently listed on UniSwap we will guide you through how to convert your ETH on the platform.

There are many other exchanges like KuCoin, Kraken, Gate.ioByBit, Bitmart, and MEXC that offer Altcoins.

See more: How to buy Crypto from PancakeSwap using MetaMask Wallet & How to use Metamask

Step 4: Connect MetaMask with UniSwap

Connecting to UniSwap using MetaMask is easy, once you have your own wallet set up.

Once you have installed MetaMask on your browser and created a wallet, we can begin connecting it to the Uniswap exchange.

Step 1: Go to the Uniswap website to start the process.

Step 2: Click on Connect Wallet in the top right corner of the page.

Step 3: You will then see a pop-up asking you which wallet you want to use. Select MetaMask from the list of options displayed on this page.

Step 4: A pop-up will appear from MetaMask asking you if you would like to allow Uniswap to connect with your wallet. Click connect.

Step 5: Swap ETH for SNX

I will show you step by step on how to swap ETH for SNX:

  • Click the “Select a token” dropdown.
  • Search for the Synthetix token, or you can copy-paste the token contract code from a website like Coin Gecko or Coin Market Cap.
  • Now, we’ll go to CoinMarketCap. In the search bar at the top right of the website, search for SNX.
  • Select SNX in the drop-down.
  • Under SNX you will see a “Contract” To copy the contract code press the paper icon.
    Matic contract address
  • Now go back to Uniswap and paste the contract code into the “TO” field. 
  • You’ll see “SNX” appears. Click the import button to save SNX so you do not have to copy-paste the Synthetix contract code again.
    buy X2Y2 coin from UniSwap
  • Read the Uniswap warning and then click “I understand” and then the import button to continue.
  • Next, you have to select the amount of ETH you want to convert to SNX.
  • Press the Swap button, and lastly the Confirm button to complete the swap.

Now you can see your SNX Coin in your MetaMask Wallet. Congratulations! You have finally bought Synthetix ($SNX)!

Learn more: How to buy coins from UniSwap using MetaMask Wallet

Frequently Asked Questions

Can I buy Synthetix on Coinbase?

No, Not all cryptocurrencies are as easy to get as others. Synthetix is one of them. It’s not listed on Coinbase’s app or the Coinbase Wallet.

Where can I buy Synthetix crypto?

You can buy Synthetix with any decentralized crypto exchange which works on Ethereum Blockchain technology.

What exchanges sell Synthetix?

You can sell Synthetix with any decentralized crypto exchange which is built on Ethereum Blockchain technology.

Is Synthetix crypto?

No, Synthetix is a digital token built on the Ethereum Network.

How do I buy Synthetix with PayPal?

No, you cannot buy Synthetix with PayPal directly. However, you can use Binance to exchange your fiat currency in PayPal for $SNX.

Can I buy Synthetix through Cash?

No, you cannot buy Synthetix with your cash directly. However, you can use Binance to exchange your cash for $SNX.

Can I mine Synthetix instead of buying?

No, you cannot mine Synthetix ​​as it has a different network structure than Bitcoin. You can only buy Synthetix ​​from an exchange.

About the author


I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

Trade with Binance.US