How to buy/sell SNX (Synthetix) on Huobi Cryptocurrency exchange?

SNX (Synthetix)

Synthetix is a derivatives liquidity protocol based on Ethereum, which aims to realize the issuance and trading of synthetic assets.

How to buy SNX (Synthetix) on Huobi?

Follow the easy 4 steps below to buy SNX (Synthetix) on Huobi.

1. Register a Huobi Global account
   Provide an email address, create a username, and choose a secure password.
2. Verify your account
   After registering and verifying, all you need to do to buy Bitcoin is to provide your name, date of birth, country/region and phone number. For verification information, see the verification documentation.
3. Deposit in fiat currency or cryptocurrency
   To deposit cryptocurrency, you only need to check the encrypted address on Huobi Global and send funds to that address. There are many ways to use fiat currency to fund your account for transactions, including credit cards, cash, and other cryptocurrencies.
4. Start buying Bitcoin on Huobi
   Once your fiat currency or cryptocurrency is in your account, you can start buying Bitcoin. Through your Huobi Global account, you can get trading charts, 24-hour global customer support, and SNX (Synthetix) derivatives trading.

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What is SNX (Synthetix)?

Synthetix is a new type of decentralized exchange. There are three main differences relative to most other DEXs:

1. Traders trade against pooled community collateral rather than any specific counterparty
2. Traders buy and sell synthetic assets, which are recorded in the market by off-chain oracles
3. Traders have native access to derivatives and investable baskets

The SNX token acts as the foundation and backbone of this model.

SNX investors stake their tokens into the network to mint liquidity before traders can participate. When traders execute trades, they pay fees to trade with stakeholders. Traders’ profits add to the global debt pool, while traders’ losses subtract from it.

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