Alchemix is a decentralized finance protocol designed to allow users to take instant loans without worrying about paying the funds back. This is because the loans repay themselves over time. The protocol gives users yield-backed synthetic assets that serve as the financing agreement.

On the other hand, users provide collateral that will remain locked until the loan is fully repaid. Alchemix has its native cryptocurrency token – ALCX. This guide will show you how to buy Alchemix securely and from the comfort of your home. 

How to Buy Alchemix – Quickfire Walkthrough to Buy Alchemix (ALCX) Tokens In Less Than 10 minutes 

The process of how to buy Alchemix is a straightforward one, as you will come to realize. Pancakeswap is a decentralized exchange or DEX that makes the process relatively easier. 

You can follow these steps to learn how to buy Alchemix tokens in less than five minutes. 

  • Step 1: Download Trust Wallet: This wallet is a great storage option that supports Pancakeswap, the best DEX for purchasing Alchemix. You can download it from the App or Google Play Store. 
  • Step 2: Search for Alchemix: After installing Trust Wallet, locate the bar at the top right corner and input Alchemix. Trust Wallet will display the token and other numerous options also available. 
  • Step 3: Add Cryptocurrency Assets to Your Wallet: You will need to deposit some cryptocurrency assets in your Trust, as you cannot trade without them. Now, you can choose to buy with your credit/debit card or simply transfer from an external wallet. However, you must already own some cryptocurrency tokens elsewhere before deciding to go for the latter option. 
  • Step 4: Connect to Pancakeswap: Search for ‘DApps’ at the bottom of your Trust Wallet. Choose Pancakeswap from the options, and click connect. 
  • Step 5: Buy Alchemix: Once you have connected to Pancakeswap, you can now buy your Alchemix coins. First, click ‘Exchange’ to unveil the ‘From’ drop-down box. You will find many cryptocurrencies, and you can choose one of the established coins for your exchange. Next, locate the ‘To’ tab, select Alchemix, and the number of tokens you want. 

Finally, you can complete the transaction and expect your Alchemix tokens to reflect in the Trust Wallet in minutes. 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile. 

How to Buy Alchemix – Full Step-By-Step Walkthrough to Buy Alchemix 

An experienced cryptocurrency trader may find the quickfire walkthrough on how to buy Alchemix sufficient to make transactions, but a newbie will certainly need a more thorough explanation. 

With that said, both categories of traders will undoubtedly find the below full step-by-step guide on how to buy Alchemix very helpful. 

Step 1: Get the Trust Wallet 

Pancakeswap is the most suitable decentralized exchange or DEX for purchasing Defi coins like Alchemix, and Trust Wallet supports it. You can download Trust Wallet on your Android or iOS phone for free. Moreover, it is supported by Binance, one of the world’s biggest cryptocurrency trading platforms. 

Trust Wallet assures you of the security of the tokens you buy. We suggest that you choose a solid and impenetrable PIN while setting up your wallet. Trust Wallet also assigns a 12-word passphrase to its users, and you can use it to retrieve your account if you forget your PIN or lose your phone. 

Step 2: Add Cryptocurrency Assets to Your Wallet 

You have to deposit some cryptocurrency into your Trust Wallet before you can start trading. Essentially, there are two ways to do it, and you can choose the one that is most suitable for you. 

Send Cryptocurrency From an External Wallet 

You can only use this option if you already own some digital assets in another wallet. That way, you can follow these steps to transfer tokens to your Trust Wallet and subsequently buy Alchemix. 

  • Open your Trust Wallet and select ‘Receive.’ 
  • Trust Wallet will present the tokens you can receive, and we suggest that you go for a renowned coin like BNB or BTC. 
  • Next, copy the unique address Trust Wallet displays on your screen. 
  • Go to your other wallet and paste the address you have copied in the ‘Send’ section. 
  • Subsequently, choose the number of tokens you want to send, and complete your transaction. 

The coins you have just transferred will reflect in your Trust Wallet within 10-20 minutes. 

Buy Cryptocurrency Directly With Your Credit/Debit Card

If you do not already own some cryptocurrency tokens in another wallet, you may opt for this method. You will be buying cryptocurrency with fiat money, so you have to complete a required Know Your Customer (KYC) process.

It is pretty straightforward and only requires you to provide some essential details about yourself, alongside a government-issued identification card. 

You can now buy your digital currencies by following this short guide.

  • Locate the ‘Buy’ button on your Trust Wallet page. 
  • Trust Wallet will display the cryptocurrency tokens available, and we recommend opting for an established one like Binance Cash (BNB) or Bitcoin. 
  • Next, choose the quantity you want, and input your card details where necessary. 

You can now complete your trade, and your tokens will reflect in the Trust Wallet momentarily. 

Step 3: How to Buy Alchemix Through Pancakeswap 

Since you now own some cryptocurrency tokens in your Trust Wallet, you can buy your Alchemix via Pancakeswap. 

  • Look for ‘DEX’ on your Trust Wallet page. Subsequently, choose ‘Swap.’
  • You will find a ‘You Pay’ section, and it is here that you can choose the cryptocurrency tokens you transferred or purchased earlier.
  • Also include the number of coins you want to use for the exchange. 
  • Find the ‘You Get’ section on the other side, and choose Alchemix and the number of tokens you want. 

Complete the transaction and await your newly purchased Alchemix tokens. 

Step 4: How to Sell Your Alchemix tokens

Just as you are learning how to buy Alchemix, understanding the ways you can sell the token is equally important. It is the only way you can realize the profits you are looking to gain. 

Now, there are two ways you can sell your Alchemix tokens, and you may choose the one that best suits you. 

  • You can use Pancakeswap to exchange the Alchemix tokens for another cryptocurrency. With Pancakeswap, you have a range of available options, over 500 tokens, to be precise. You may opt for one with a higher or lower value. Simply follow the previous step, but input Alchemix tokens in the ‘You Pay’ section and the new coin you want in the ‘You Get’ bar. 
  • Alternatively, you may choose to sell the Alchemix tokens for fiat money. However, you will have to do it on a centralized trading platform. Since Binance supports Trust Wallet, you can simply move your tokens there to sell them. But of course, you will first have to complete the Know Your Customer process. 

Where Can You Buy Alchemix Tokens Online?

Alchemix provides a medium to take cryptocurrency loans that repay themselves through the protocol’s systems. As such, the coin is gaining traction, and you may also desire to take a look. Well, there is a supply of over 283,000 tokens in circulation, so finding a place to buy will be relatively easy. 

With that said, Alchemix is a Defi coin, so the best way to buy it will be to go through a decentralized exchange like Pancakeswap. This DEX has a lot to offer, and we will inform you about some of those perks below. 

Pancakeswap – Buy Alchemix Coins Via a Decentralized Exchange

Pancakeswap is a decentralized exchange, which means it eliminates the need for an intermediary in cryptocurrency trades. You can find it on your Trust Wallet, which you can download from the App or Google Play Store. In addition, Pancakeswap has a simple user interface that makes it easy for cryptocurrency newbies and veterans alike to navigate the DEX.

With Pancakeswap, you don’t have to worry about sourcing a secure wallet to store the Alchemix coins you purchase. As noted, Trust Wallet supports Pancakeswap, and this wallet is one of the most user-friendly ones out there. It also has excellent backup and retrieval features suitable for storing large or small quantities of Alchemix tokens. 

Pancakeswap provides diverse money-making opportunities to its users. The best part is that you can earn interest and rewards from your unused coins by either staking them or utilizing one of the numerous farming options on Pancakeswap. Additionally, if you enjoy prediction and lottery games, you can access them on the DEX. 

There is also sufficient liquidity at this DEX, even on minor tokens. That way, you can sell your Alchemix tokens on demand. You also have access to at least 500 different cryptocurrency tokens, which indeed comes in handy when you intend to diversify or exchange your Alchemix coins. Low transaction fees and swift execution time are also additional perks.

Ways to Buy Alchemix 

Essentially, there are two ways to buy Alchemix with a decentralized exchange. However, they both require you to use another cryptocurrency for the exchange, preferably an established one like Bitcoin or Ethereum. 

Buy Alchemix With Cryptocurrency 

Since you will be exchanging another cryptocurrency for your Alchemix tokens, you must first deposit some in your Trust Wallet. If you already own digital currencies in an external wallet, it’s just a case of transferring them over. 

Then you can connect your Trust Wallet to Pancakeswap and seamlessly exchange the tokens you transferred earlier for Alchemix coins. 

Buy Alchemix With Your Credit or Debit Card 

You may also choose to use your credit/debit card for the trade; you can buy cryptocurrency tokens directly from Trust Wallet. However, you have to verify your identity by completing the required KYC process beforehand.

Then, input your Visa/MasterCard details where they are required and buy the base cryptocurrency for your intended swap. Next, connect to Pancakeswap and swap those coins for Alchemix. 

Should I Buy Alchemix?

If you actively seek information on how to buy Alchemix, then the chances are that you are contemplating investing in this project.  This is a decision we suggest you take your time to make while also carrying out in-depth research. When you find out everything there is to know about Alchemix, you reduce your chances of making an uninformed decision. 

While you take your time to decide whether or not to buy Alchemix, we have a few features you may want to look into. 

Growth Trajectory 

Alchemix was launched in March 2021, barely five months before the time of writing. As of mid-2021, the coin has a price of just over $359. Alchemix hit its all-time high of $11,060 on 11 May 2021, just three months after it was launched. 

It hit its all-time low of $227.60 on 22 July 2021. If you had purchased some Alchemix tokens when it hit its all-time low, you would have since enjoyed a sizable increase at over 90%. In this context, this would have been a good investment. However, you still have to do your research – as the price of Alchemix can just as easily go down.

Farming Opportunities 

One of the significant reasons the Alchemix protocol exists is to provide an avenue for its users to make money through farming. The protocol itself uses yield farming to make the interest it uses to pay off the loans of its holders. 

This means that you can engage in yield farming and make some regular gains via interest payments. The protocol allocates 60% of the Alchemix tokens in circulation to those interested in yield farming. You can then use the issued coins to stake select and liquidity provider tokens. 

Easy Loans

With Alchemix, you can take cryptocurrency loans that pay off themselves. You simply have to deposit some digital assets into the protocol – which then allows you to access as much as 50% of the cryptocurrency’s market value. Essentially, the protocol will use your coins to make interest from yield farming.

It will subsequently deduct the interest from the amount you have borrowed, thereby leaving you debt-free eventually. When the protocol pays off your debt entirely, you can then choose to withdraw the amount you initially deposited. 

Alchemix Price Prediction

Crypto price predictions are a dangerous trend on the internet today. This is because cryptocurrency tokens like Alchemix are highly volatile, and no one person can successfully predict their price; that is, it is hardly ever accurate. 

As such, you should avoid making a buying decision that is based solely on Alchemix price predictions. Instead, engage in extensive research, buy diversely and invest at periodic intervals. These are sure-fire ways for you to get more understanding of the coin. 

Risks of Buying Alchemix

Buying Alchemix tokens comes with some risks because of several factors. For one, they are highly volatile; the value can shoot up or down in minutes. They are also largely influenced by market speculation and Fear Of Missing Out (FOMO). 

As such, the price of Alchemix can plummet after you purchase some tokens. Then, of course, you will have to wait until it increases in value before you can make any profits. But again, that may never happen. 

There are certain steps you can take to reduce your risks, and they include the following. 

  • Research Adequately: When you have sufficient information about Alchemix, you have a higher chance of making attractive returns on your investments. That way, you know when the market is likely to dip and if it will rise again. Paying attention to current news about Alchemix and cryptocurrency generally will also influence your potential returns. 
  • Buy Diversely: Diversifying your portfolio will vastly reduce your chances of running a loss in cryptocurrency trading. For example, instead of putting all your capital in Alchemix, you may choose to invest in multiple coins. 
  • Invest at Intervals: You may also want to look into investing at intervals. For example, buy Alchemix tokens when the value seems low and ensure you purchase those coins in small quantities. 

Best Alchemix Wallets 

Numerous hardware and software wallets are available, but we have selected the most compatible ones for Alchemix. 

Trust Wallet – Overall Best Wallet for Alchemix USD 

This wallet is the perfect choice for storing your Alchemix tokens for several reasons. For one, it is very secure. You need to input your PIN each time you want to log into your wallet, and you also have to provide the 12-word passphrase Trust gives you if you desire to access your wallet on another device. 

Additionally, it is relatively easy to use and access. It has a clean and crisp user interface that even cryptocurrency newbies can find their way around. It also supports Pancakeswap, which is the best DEX for purchasing Alchemix tokens. 

Trezor One – Best Alchemix Wallet for Security 

Trezor One is a hardware wallet that stores your Alchemix tokens offline. Thus, it essentially makes them inaccessible to hackers. In addition, the wallet has many security measures that guarantee the safety of your tokens.

For instance, you have to input your PIN for every transaction you choose to make. You can access your wallet on your mobile device or laptop. It is also broadly compatible with diverse cryptocurrency tokens. 

Coinomi – Best Alchemix Walley for Convenience 

Coinomi is a hardware wallet launched in 2014 with a series of security measures that have never failed. It has never been hacked or compromised since; hence, you can be assured of the safety of your Alchemix tokens. 

It also allows you to store in excess of 1,000 different cryptocurrency tokens, making it super convenient as you don’t need multiple wallets for your coins. You can also access the wallet through your mobile phone or computer. 

How to Buy Alchemix – Bottom Line

We are confident that we have demystified the process of how to buy Alchemix tokens for you. Moreover, it gets even further simplified when you use a decentralized exchange like Pancakeswap, which you can access on your Trust Wallet. 

If you want to become an expert trader with Defi coins like Alchemix, simply acquaint yourself with this guide and you’ll be good to go. 

Buy Alchemix Now via Pancakeswap

 

 

Always consider the risks involved when buying cryptocurrencies. Digital assets are highly speculative and volatile.

FAQs

How much is Alchemix?

As at the time of writing in early August 2021, one Alchemix token is worth just over $340.

Is Alchemix a good buy?

Deciding whether or not Alchemix is a good buy should be your sole decision. However, there are certain pointers you may want to consider in reaching that decision. This is why you should do your own personal research before buying the coin.

What is the minimum Alchemix tokens you can buy?

You can buy any number of Alchemix tokens - as per your own budget. In fact, you can even buy a small fraction of one token.

What is the Alchemix all-time high?

Alchemix has an all-time high of $11,060, which it reached on 11 May, 2021.

How do you buy Alchemix tokens using a debit card?

You can buy Alchemix tokens with your card through Trust Wallet. Simply download the app, set it up, complete the KYC process, and purchase an established token like Binance Coin. Next, connect the wallet to Pancakeswap, and exchange your base cryptocurrency for Alchemix tokens.

How many Alchemix tokens are there?

There is a maximum supply of over 470,000 tokens. The coin has a circulating supply of over 250 thousand tokens, as of mid-2021.

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