MinePlex is an innovative mobile crypto-bank with its own blockchain, liquid token and mobile application. This bank successfully integrates traditional financial instruments with blockchain technology and mobile apps to deliver full-fledged banking service available 24 hours a day.
MinePlex’s banking platform allows for fast transactions at a very low cost and allows you to use cryptocurrencies every day, anywhere in the globe. MinePlex’s services include an efficient and reliable mobile crypto bank, available 24/7 with all banking services.
Continue reading to find out everything about cryptobank MinePlex, the PLEX token and where to buy PLEX.
Let’s get right to it!
This content is for informational purposes only. It should not be considered as investment advice or financial advice.
Three Quick Steps to Buy PLEX
These are the steps you need to take in order to purchase PLEX
- Buy your first Bitcoin or Etherium purchase at your preferred crypto exchange.
- Your newly acquired cryptocurrency can be transferred to an exchange that allows you to use PlexCoin.
- PlexCoin is a place where you can exchange Bitcoins or Etherium.
Now, let’s break the entire process down to a step-by-step guide below to help you buy the Plex token.
Step 1: Open an Exchange account
You can open an account on one of the several mainstream exchanges, such as Crypto.com, Binance, Coinbase, etc., to start trading with digital assets. Let’s see, for example, how to open a Coinbase account.
Register for Coinbase
It is easy to register a Coinbase Account. There are two options for registering a Coinbase account: as an individual trader or as a company. You can register as an individual by filling in your name and email address.
Important: Double-check your email address access as you need to confirm registration. It is best to provide your REAL NAME as this will allow you to utilize two-factor authentication. Learn more.
Allow account verification
After you have registered a Coinbase Account, you will need to enter additional information about your identity. You can also use two-factor authentication (2FA) to make sure your account is more secure by providing a valid phone number.
The system will send you a text message any time there’s any change in your Coinbase account.
Fill In Trading Details
You must select a payment method to set up your trading account at any cryptocurrency exchange including Coinbase. You can connect your bank account and exchange account for wire transfers or to deposit funds into your account.
The first time you open a Coinbase Account, wire transfers are limited to $750 per week.
A bank transfer can take up to four business days. If you use a Credit Card to make the payment, however, it will be processed much quicker.
You’re now just one step away from purchasing PLEX
Step 2: Purchase Bitcoin or Ethereum
Once your Coinbase account is set up and verified, you’ll need to purchase leading cryptocurrencies like Bitcoin or Ethereum, which you will later exchange for PLEX tokens.
Go to the “Buy” page, choose the deposit source (for example, Credit Card) from the dropdown menu, and the deposit currency (for example, USD).
Now it’s time to purchase Bitcoin or Ethereum! You will need to select the source of funding and the purchase amount. The transaction can be completed with a fraction or all of the BTC currency.
MAKE SURE that you are getting your specific currency’s wallet ID, as Bitcoins can only go into Bitcoin wallets, Ethereum can only go into Ethereum wallets.
Do not spend more than you have to. It might prove impossible to reverse the damage you caused by a mistake.
Once you’ve entered all the details correctly, the 2FA will ask you to use your phone to verify the transaction.
Step #3: Choose an Exchange That Accepts Plex and Make the Purchase
Now that you are the proud owner of some Bitcoin, it’s time to take the next step and purchase PLEX. But, you won’t be able to purchase PLEX pairs on Binance and Coinbase. That’s why you’ll need to register on an exchange that offers PLEX/BTC pairs.
Choose a Crypto Exchange
There are many crypto exchanges available that allow PLEX trading.
To purchase PLEX, choose the one you want.
Register on the Exchange
While you can purchase PLEX on any of the exchanges listed above, for the sake of guiding you through the process, this time, we’ll choose STEX as an example. According to CER.live, it’s ranked #61 by security level.
STEX registration works in the same way as that on Coinbase. However, instead of connecting your exchange account to your bank accounts or credit card, you’ll need to transfer the Bitcoin (BTC) you purchased on Coinbase to proceed with purchasing PLEX.
Step 4: Deposit Bitcoin at STEX
Once your desired amount of BTC is transferred to your STEX account, you’re finally set to purchase the PLEX token.
Here’s a step-by-step guide for trading MinePlex (PLEX)!
- To access the STEX Website, click the button in the top right hand corner.
- Click the dropdown menu.
- Click on “Profile.”
- Enter BTC in the search box by clicking on it
- Then press “deposit” and paste the Deposit Address you copied from the Coinbase account.
Once you complete the actions above, it’s time to transfer your Bitcoin:
- Return to Coinbase and Binance
- Click on the “wallet” button.
- Go to “Deposit and Withdrawal.”
- Locate BTC in the list and click “withdraw.”
- Add the STEX address into the platform
- Specify the amount you’d like to withdraw.
- Confirm your decision by clicking “Submit.”
- A 2FA could be requested by the platform before the transaction can proceed.
- Once you submit, take a moment to wait.
- An email confirmation will also be sent.
It is easy to do and many exchange sites are intuitive enough that they will direct you in the right direction.
Step 5: Buy PLEX with Your BTC
You are now ready to exchange your BTC for PLEX. You have a choice between buying under the marker “Market” or “Limit.” If you want to purchase MinePlex (PLEX) for its market price (current value on the market), click on “Market” and find the pair you want to trade (BTC/PLEX).
You can trade the limit price if you believe that the price will move in any direction soon.ShortThe asset LongIt will be done once your expected price has been reached. The limit price, which is more a prediction of future prices than an actual value, represents the true market value. A shorting of the asset is predicting a decrease in its value, while a longing refers to predicting an increase.
NOTE: We recommend conducting your own research before trading and being vigilant about the market climate and the asset’s use cases.
Now you have purchased PLEX, and it’s time to store the asset in a secure wallet. CoinStats has one of the best DeFi wallets available, and you can trade PLEX with it without any transaction fees.
Step 6: Place the purchased PLEX in a secure wallet
A wallet is a safe and secure way to store your PLEX if it will be held for a prolonged period of time. While some crypto exchanges provide their own wallets, many prefer a wallet.
Many software wallets are available for download from Google Play or the App Store.
A cold wallet is also called a hardware wallet. The possibility of hackers being able to access your private keys is eliminated by hardware wallets.
Now that you’ve chosen a wallet to store your PLEX, safely transfer digital assets into it, and you can consider yourself a proud MinePlex (PLEX) investor!
Now, let’s discuss the MinePlex project and the issues it aims to solve.
MinePlex: What is it and how does it work?
The wide variety of possibilities offered by blockchain technology in many areas, such as banking and shopping, is unmatched. Blockchain technology allows you to pay rent or utility bills faster, send interbank transfers quicker and make payments.
However, it’s still not entirely accepted in the fiat economy. This means everyday customers can not spend crypto savings at retailers and services. It is a bad thing for the both of them.
The MinePlex team attempted to solve the issues mentioned above by developing processing solutions and providing basic banking services for the community. This company is a mobile-based crypto bank, which solves all your banking problems right within the app.
The MinePlex team consists of more than 50 experts in various spheres of the financial and crypto industry, who create the company’s products, develop processing solutions, and promote the project.
How is PLEX used?
MinePlex describes itself as a CrossFi service. It combines both the stability and liquidity of the fiat markets with the transparency and security of blockchain-based transactions. It’s based on a Liquid Proof of Stake (LPoS) consensus mechanism.
The MinePLex network includes its own blockchain, a mobile crypto bank, contactless debit cards, a mobile app, an array of different wallets, and a P2P exchange.
MINE and PLEX are the main tokens of the ecosystem. MINE is used internally for transaction settlements, rewards systems and commission charging. MINE’s USD value is fixed at 1 US dollar per token.
PLEX can be listed on multiple exchanges. MINE ownership grants PLEX mining rights. The monthly deposit is 20%.
Commonly Asked Questions
Do I need cash to purchase PLEX
It’s short: no. That’s why we offered you the extra step of registering on an exchange like Coinbase or Binance, where you can purchase crypto with fiat money. Unfortunately, many of the PLEX pairs supported crypto-tocrypto trades.
What platforms can I use to acquire the first Bitcoin, other than Coinbase?
Yes, certainly. Many other exchanges also offer fiat trading. We have selected Coinbase to be an example, and it is a very popular option.
Where can I buy PLEX?
Europe has a greater tolerance for cryptocurrencies than the United States. Online banks can also facilitate fiat-crypto trading and offer quick methods to purchase your first crypto.