$ 0.0404 USD
$ 0.0404 USD
$ 49.412 million USD
$ 49.412m USD
$ 3.735 million USD
$ 3.735m USD
$ 19.024 million USD
$ 19.024m USD
950.246 million MDX
Issue Time
2021-01-19
Platform pertained to
--
Current price
$0.0404USD
Market Cap
$49.412mUSD
Volume of Transaction
24h
$3.735mUSD
Circulating supply
950.246mMDX
Volume of Transaction
7d
$19.024mUSD
Change
24h
-2.15%
Number of Markets
159
Current Rate0
0.00USD
The number of the negative comments received by WikiBit have reached 5 for this token in the past 3 months, please be aware of the risk!
3H
0.00%
1D
-2.15%
1W
+1.73%
1M
-19.26%
1Y
-33.07%
All
-98.86%
Aspect | Information |
---|---|
Short Name | MDX |
Full Name | Mandala Exchange Token |
Founded Year | 2018 |
Main Founders | Nate Flanders and Anant Handa |
Support Exchanges | Mandala Exchange, Uniswap, Hotbit |
Storage Wallet | Mandala Exchange Wallet, Metamask, Ledger Nano |
The Mandala Exchange Token, commonly referred to as MDX, is a type of cryptocurrency that was introduced in 2018. It was founded by Nate Flanders and Anant Handa. As a token, it is primarily traded on the Mandala Exchange, Uniswap, and Hotbit, though it is supported by other exchanges as well. For secure storage, MDX can be stored in the Mandala Exchange Wallet, Metamask, and Ledger Nano among other cryptocurrecy wallets.
Pros | Cons |
---|---|
Supported on multiple exchanges | Inherent volatility of cryptocurrencies |
Can be stored in various wallets | Dependent on the performance and reputation of Mandala Exchange |
Founded by experienced individuals in the field | Relatively newer cryptocurrency (founded in 2018) |
Pros of MDX token:
1. Supported on Multiple Exchanges: The MDX token is not limited to one place for buying or selling. It is supported by multiple exchanges including Mandala Exchange, Uniswap, and Hotbit. This provides users with a range of choices for conducting their trading activities and can potentially allow for more liquidity and trading volume.
2. Can Be Stored in Various Wallets: Cryptocurrency security is a major concern and storing tokens securely is crucial. MDX offers flexibility in this regards, as it can be stored in various wallets, including Mandala Exchange Wallet, Metamask, and Ledger Nano allowing users to use their preferred wallets for storage and transactions.
3. Founded by Experienced Individuals: With founders like Nate Flanders and Anant Handa who have prior experiences in the field, the MDX token potentially has a solid base of knowledge and experience to draw upon in its operations and development.
Cons of MDX token:
1. Inherent Volatility of Cryptocurrencies: Like most cryptocurrencies, MDX is subject to the market's volatility. This means that while there can be high returns, there can be equally drastic losses. It's a risk that all potential investors should be aware of.
2. Dependency on the Performance and Reputation of Mandala Exchange: Given that the MDX token is closely associated with the Mandala Exchange, its performance and value may be heavily reliant on the exchange's performance and reputation. If the Mandala Exchange faces issues or loses credibility, it could potentially impact the value and performance of the MDX token.
3. Relatively Newer Cryptocurrency: Founded in 2018, MDX is relatively newer in comparison to other cryptocurrencies that have established a foothold in the market. As it is still establishing its reputation and value, there may be potential risks and uncertainties associated with its development and growth.
The Mandala Exchange Token (MDX) introduces a key feature that distinguishes from many other cryptocurrencies, which is its deep-rooted association with the Mandala Exchange platform. It is an integral part of the Mandala Exchange's ecosystem where it functions beyond just a tradable asset. Instead, it allows holders to benefit from discounts on trading fees, participate in decision-making processes affecting the platform's operation, and access premium features.
However, although the idea of a token with utility within a specific platform is not unique to MDX, its implementation is heavily tied with the performance and popularity of the Mandala Exchange. Unlike cryptocurrencies that aim to be universally acceptable, the functionality and value of MDX is more concentrated around the Mandala platform. As such, the uniqueness of MDX largely depends on the development and reception of the Mandala Exchange.
Its important to remember that as with all cryptocurrencies, MDX operates in a volatile and highly competitive market. Its unique aspects do distinguish it from other cryptocurrencies, but also represent unique challenges and dependency factors that are crucial to its performance and value.
MDX is a utility token that powers the MDEX decentralized exchange (DEX). It is used for a variety of functions on the platform, including liquidity mining, governance, and discounts and benefits. MDX is a native token on the Huobi Eco Chain (HECO) and is also available as an ERC-20 token on the Ethereum blockchain. This makes it easy for users to trade and transfer MDX tokens. Overall, MDX is a versatile utility token that plays an important role in the MDEX ecosystem.
MDX is a utility token for the MDEX decentralized exchange. It is used for liquidity mining, governance, and discounts and benefits. MDX is mined using a halving mechanism, with a current mining output of 183,848,593.65 MDX per day. The total circulating supply of MDX is 859,088,728.95, and there is a mining cap of 1 billion tokens. The price of MDX has fluctuated significantly since its launch in March 2021, reaching an all-time high of $1.21 on April 24, 2021, but has since fallen to its current price of $0.0673. The price of MDX is influenced by a number of factors, including the overall cryptocurrency market conditions, the volume of trading on the MDEX platform, and the demand for MDX tokens for liquidity mining and governance.
Several exchanges support the buying and trading of the Mandala Exchange Token (MDX). Below are some of the main exchanges, along with the currency and token pairs they support:
1. Mandala Exchange: Being the native platform of MDX, Mandala Exchange supports a broad variety of MDX pairs including MDX/USDT, MDX/BTC, MDX/ETH among others.
2. Uniswap: One of the most well-known decentralized exchanges, Uniswap supports MDX trading primarily against ETH (MDX/ETH), but because of Uniswaps functionality, MDX can be technically traded against any token available on the platform.
3. Hotbit: On Hotbit, users can trade MDX against USDT, resulting in the following pair: MDX/USDT.
4. Binance: Binance, one of the world's biggest crypto exchanges, may occasionally list MDX for trading. The supported trading pairs vary, but could typically include MDX/USDT, MDX/BTC, MDX/ETH.
5. KuCoin: This is another large-scale exchange that may list MDX. If it does, the pairs usually include MDX/USDT, MDX/BTC, MDX/ETH.
6. Bitfinex: Bitfinex is known to list a variety of tokens including MDX. The commonly supported trading pair is MDX/USD.
7. Bittrex: On Bittrex, the main trading pair for MDX is typically MDX/USD.
8. Poloniex: Similar to other exchanges, Poloniex may list MDX with pairs like MDX/USDT, MDX/BTC.
9. OKEx: OKEx is a global exchange that could list MDX with the primary trading pair being MDX/USDT.
10. BitMax: On BitMax, MDX can be traded, often with the MDX/USDT pair.
Please note that the availability of MDX and its trading pairs can change and potentially vary by region due to different regulations. Always check the specific exchange for confirmed, real-time information.
Mandala Exchange Token (MDX) owners have several options when it comes to storage, ranging from exchange wallets to hardware and software wallets.
1. Exchange Wallets: Keeping MDX in the wallet provided by the Mandala Exchange is one option. However, users should be aware that while trading on exchanges can be very useful, holding large amounts of tokens on an exchange also presents risk since user funds could potentially be affected if the exchange is compromised.
2. Software Wallets: These are non-custodial wallets where users have control of their private keys. Software wallets such as Metamask are accessible via web browser extensions, making them relatively user-friendly for many. They provide a balance between convenience and security.
3. Hardware Wallets: For the highest level of security, hardware wallets like Ledger Nano offer a more secure way to store MDX tokens. Hardware wallets store users private keys on a physical device that can be disconnected from the internet when not in use, providing protection against online threats.
Each type of wallet has its pros and cons. Exchange wallets and software wallets may offer more convenience for trading and transacting, while hardware wallets offer a greater level of security. As always, its essential for every MDX holder to research each option and decide on the best storage solution for their specific circumstances.
The Mandala Exchange Token (MDX) might be suitable for a variety of individuals depending on their cryptocurrency goals and risk tolerance. Prior to making a decision on buying MDX, it's important to consider certain factors.
1. Crypto Traders: Individuals who trade frequently on the Mandala Exchange could potentially benefit from owning MDX, as the token enables discounted transaction fees on the platform.
2. Long-term Investors: For those who believe in the future growth and success of the Mandala Exchange and are willing to hold onto their tokens in anticipation of appreciation, MDX could be an appealing investment.
3. Participation-Focused Holders: MDX holders have some voting rights within the Mandala platform, so those who value having a measure of influence in the evolution of the platform may be interested in acquiring MDX tokens.
4. Risk-Tolerant Individuals: Like with all cryptocurrencies, investing in MDX carries a degree of risk due to the potential volatility of the cryptocurrency market. Thus, individuals comfortable with this level of risk might deem MDX a proper fit for their portfolio.
For anyone considering buying MDX, remember the following:
- Always conduct your own research to fully understand the potential risks and rewards.
- Keep an eye on the performance and reputation of the Mandala Exchange, as it can directly impact the value of MDX.
- Regularly monitor the cryptocurrency market trends and news.
- Diversify your investment portfolio to mitigate risk.
- Only invest money you can afford to lose, as the value of cryptocurrencies can fluctuate rapidly.
- Consider your personal financial situation and risk tolerance before making an investment.
- Finally, it might be prudent to seek advice from a financial advisor or an expert in cryptocurrency.
The Mandala Exchange Token (MDX) is a type of cryptocurrency intricately tied with the performance and functionality of the Mandala Exchange platform. Launched in 2018 by Nate Flanders and Anant Handa, it has made its way onto multiple platforms, and the token can be stored in several types of cryptocurrency wallets.
As a part of the Mandala Exchange's ecosystem, MDX provides its holders with several benefits such as discounts on trading fees, access to premium features, and opportunities to participate in certain decision-making processes. This forms an innovative approach, differentiating MDX from other cryptocurrencies.
Despite this, like all cryptocurrencies, MDX carries its inherent risks largely attributed to market volatility and its strong dependency on the performance and reputation of the Mandala Exchange. MDX is more inclined towards active traders or long-term investors who believe in the success and growth of the Mandala Exchange.
As for its appreciation and money-making potential, it's difficult to definitively predict. The world of cryptocurrencies is highly volatile and unpredictable. However, active participation, vigilance in market trends, diverse investment strategy, and sound knowledge could potentially increase chances for profit.
While MDX presents unique opportunities, it is important to take all these factors into account before making any investment decisions. Always conduct your own research or consider seeking advice from a financial advisor. Proceed with investments wisely.
Q: Is there any risk associated with purchasing MDX tokens?
A: As with all cryptocurrencies, MDX is subject to market volatility and its value is heavily linked to the performance of the Mandala Exchange, so potential buyers should be conscious of these risks.
Q: Can MDX tokens appreciate in value?
A: While the potential for MDX token appreciation exists, given its position in the volatile cryptocurrency market and its link to the performance of the Mandala Exchange, precise predictions are challenging to make.
Q: Who would be the ideal candidate to invest in MDX tokens?
A: Frequent traders on the Mandala Exchange, long-term investors believing in Mandala's success, holders valuing platform influence, and individuals with a high risk tolerance may be suitable candidates for MDX investment.
Q: What unique characteristic does MDX bring to its investors?
A: The unique selling point of MDX lies in its utility within the Mandala Exchange, affording token holders benefits like trading fee discounts and participation rights in decision-making processes.
Q: Would I need to actively monitor the performance of the Mandala Exchange if I own MDX?
A: Yes, the status and reputation of the Mandala Exchange directly impacts the value of MDX, so it's crucial for holders to keep close tabs on the exchange's performance.
Q: Can holding MDX offer me any advantages on the Mandala Exchange platform?
A: Yes, MDX holders on the Mandala Exchange can enjoy benefits such as discounted trading fees and the opportunity to participate in certain platform decisions.
Q: Is MDX a new player in the cryptocurrency market?
A: Having been founded in 2018, MDX is relatively newer compared to some more established cryptocurrencies, and it is still shaping its market reputation.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
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