How and Where to Buy DeFinity (DEFX) – Detailed Guide

Nov 14, 2021 7:18 AM

What is DEFX?
Step 1: Register on Fiat-to-Crypto Exchange
Step 2: Buy ETH with fiat money
Step 3: Transfer ETH to an Altcoin Exchange
Step 4: Deposit ETH to exchange
Step 5: Trade DEFX
Last Step: Store DEFX securely in hardware wallets
Other useful tools for trading DEFX
Frequently Asked Questions
Latest News for DEFX
DEFX Price Prediction and Price Movement

What is DEFX?

What is DeFinity (DEFX)?

DeFinity is a decentralised DeFi exchange, specialised to trade traditional and digital FX via smart contracts, with a focus to provide real-time settlement and clearing for spot FX trading.

DEFX is the native utility token that is used for:

Governance: The governance mechanism of the token will allow token holders to vote on major events and decisions of the future of the exchange and protocol, benefiting the wider community and the nature of the decentralised services.
Staking and Trading: Staking and participation fees are a central element of the decentralised exchange and protocol. As a network provider and participant, you can select an institutional and retail pool and stake your tokens against the trading pairs and receive a percentage of the network fees from within the trading pair pool and generated via the network and protocol.
Rewards: Additional rewards are available to token holders. These include trading fee reductions for both Clarity and Clarity Pro, as well as referral programmes for network sign-ups and sign-ins.

DEFX tools include: 

Clarity app: This is the interface for retail investors to participate in DeFinity's FX and digital asset trading.
Clarity Pro platform: The solution enables professional traders to execute FX trades, monitor PnL and utilise the reporting blotter to send deals to the back-office. The Clarity Pro GUI offers deep liquidity with access to multiple pools resulting in tighter spreads and optimal fill rates.

How Many DEFX Coins Are There in Circulation?

The DEFX token launched on May 26, 2021 with an initial supply of 8,764,545 DEFX tokens created at genesis. 50% of the supply is allocated to rewards, 27% were offered at token sale, 10% allocated for development and marketing, 10% to the team and 3% to advisors. A vesting schedule is in place for seed investors (10% monthly starting at TGE), private investors ((15% monthly starting at TGE for six month and 10% on the 7th month), development & marketing (1 – 36 months), the team (12 to 36 months), advisors (3 to 12 months) and rewards (1 to 36 months).

Who Are the Founders of DeFinity?

On the joint mission to create a decentralised, more efficient, and cost-effective FX market, two experienced partners have come together to create DeFinity: DMALINK, with established customer relationships and contacts in the FX industry with 50 of the top investment banks and hedge funds and WeOwn as a technology provider that was the first to develop a hybrid, purpose-built blockchain for the financial market back in 2017.

Manu Choudhary, CEO. Manu leads macro strategy across EMEA, expanding key strategic partnerships and building out the product suite. Manu has over 16 years of front office derivative sales experience in the financial services industry. He joined us from Lloyds Bank, having previously worked at Barclays Investment Bank.
Sascha Ragtschaa, CTO. Sascha leads WeOwn, a pioneering technology company of alternative finance and tokenisation technology. Before WeOwn, Sascha worked as the Regional CIO for Computershare, world’s largest global transfer agency and share registry provider, and held various leadership roles in Europe, Australia and North America.
Michael Siwek, Chief Revenue Officer. Michael comes from a Financial Services background. His speciality is Regulatory Technology, Market Data and multi-asset class trading systems with particular affinity for building from the ground up, operating and distribution of electronic trading venues.
Ashwind Soonarane. Ashwind specialises in the formulation and implementation of strategic plans aimed at achieving innovation and competitive advantage. He further plays an instrumental role in the design and development of our proprietary technology.
Chris Park, Chief Commercial Officer. Leader and specialist with 25 years in both Corporate and Investment Banking. Expertise in ‘Behavioural Capital’, Corporate Finance and Derivatives Structuring with extensive Markets & Risk Management experience.
Florian Batliner-Staber, Chief Product Officer. Florian specialises in technology solutions and product development. Florian was the Head of Technology in Continental Europe for the global market leader in transfer agency and share registration, employee equity plans and stakeholder communications.

Where Can I Buy DeFinity (DEFX)?

DEFX is available for trading on a growing number of exchanges, with cryptocurrency and stablecoin pairs currently available.

Liquidity pool available on Uniswap

DEFX was first tradable on 29th May, 2021. It has a total supply of unknown. As of right now DEFX has a market capitalization of USD $16,018,028.71. The current price of DEFX is $0.0934 and is ranked 3131 on Coinmarketcap and has recently surged 120.15 percent at the time of writing.

DEFX has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Ethereum from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy DEFX.

Step 1: Register on Fiat-to-Crypto Exchange

You will have to first buy one of the major cryptocurrencies, in this case, Ethereum (ETH). In this article we will walk you through in details two of the most commonly-used fiat-to-crypto exchanges, Uphold.com and Coinbase. Both exchanges have their own fee policies and other features that we will go through in detail. It is recommended that you try both of them and figure out the one that suits you best.

Suitable for US traders

Select Fiat-to-Crypto Exchange for details:

UpHold

Being one of the most popular and convenient fiat-to-crypto exchanges, UpHold has the following advantages:

Easy to buy and trade among multiple assets, more than 50 and still adding
Currently more than 7M users worldwide
You can apply for UpHold Debit card where you can spend the crypto assets on your account like a normal debit card! (US only but will be in the UK later)
Easy to use mobile app where you can withdraw fund to a bank or any other altcoin exchanges easily
No hidden fees and any other account fees
There are limited buy/sell orders for more advanced users
You can easily set up recurring deposits for Dollar Cost Averaging (DCA) if you intend to hold cryptos long term
USDT, which is one of the most popular USD-backed stablecoins (basically a crypto that is backed by real fiat money so they are less volatile and can be treated almost as the fiat money it's pegged with) is available, this is more convenient if the altcoin you intend to buy has only USDT trading pairs on the altcoin exchange so you don't have to go through another currency conversion while you buy the altcoin.

Show Details Steps ▾

Type your email and click 'Next'. Make sure you provide your real name as UpHold will need it for account and identity verification. Choose a strong password so that your account isn't vulnerable to hackers.

You will receive a confirmation email. Open it and click on the link within. You will then be required to provide a valid mobile number to set up two-factor authentication (2FA), it is an extra layer to the security of your account and it is highly recommended that you keep this feature turned on.

Follow the next step to finish your identity verification. These steps are a bit daunting especially when you are waiting to buy an asset but just like any other financial institutions, UpHold is regulated in most countries such as the US, the UK and the EU. You can take this as a trade-off to using a trusted platform to make your first crypto purchase. Good news is that the whole so-called Know-Your-Customers (KYC) process is now fully automated and it shouldn't take more than 15 minutes to finish.

Step 2: Buy ETH with fiat money

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer. You may be charged higher fees depending on your credit card company and the volatile prices when using cards but you will also make an instant purchase. While a bank transfer will be cheaper but slower, depending on the country of your residence, some countries will offer instant cash deposit with low fees.

Now you are all set, on the 'Transact' screen under the 'From' field, select your fiat currency, and then on the 'To' field choose Ethereum, click preview to review your transaction and the click confirm if everything looks good... and congrats! You've just made your first crypto purchase.

Step 3: Transfer ETH to an Altcoin Exchange

BitMart

But we are not done yet, since DEFX is an altcoin we need to transfer our ETH to an exchange that DEFX can be traded, here we will use BitMart as our exchange. BitMart is a popular exchange to trade altcoins and it has a large number of tradable altcoins pairs. Use the link below to register your new account.

BitMart is a crypto exchange from the Cayman Islands. It became available to the public in March 2018. BitMart has a truly impressive liquidity. At the time of the last update of this review (20 March 2020, right in the middle of the crisis with COVID-19), BitMart’s 24 hour trading volume was USD 1.8 billion. This amount placed BitMart on place no. 24 on Coinmarketcap’s the list of exchanges with the highest 24 hour trading volumes. Needless to say, if you start trading here, you will not have to worry about the order book being thin. Many exchanges does not allow investors from USA as customers. As far as we can tell, BitMart is not one of those exchanges. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

After going through a similar process as we've done before with UpHold, you will be advised to set up 2FA authentication as well, finish it as it adds extra security to your account.

Step 4: Deposit ETH to exchange

Depends on the policies of the exchange you might be required to go through another KYC process, this should usually take you from 30 minutes to possibly a few days maximum. Though the process should be straight-forward and easy to follow. Once you're done with it you should have full access to your exchange wallet.

If this is your first time making a crypto deposit, the screen here may look a bit scary. But don't worry, it's basically simpler than making a bank transfer. At the box on the right, you will see a string of random numbers saying 'ETH address', this is a unique public address of your ETH wallet at BitMart and you can receive ETH by giving this address to the person to send you the funds. Since we are now transferring our previously bought ETH on UpHold to this wallet, click on 'Copy Address' or right-click on the full address and click copy to grab this address to your clipboard.

Now head back to UpHold, go to the Transact screen and click on ETH on the "From" field, choose the amount you wan to send and on the "To" field choose ETH under "Crypto Network", then click "Preview withdraw".

On the next screen, paste the wallet address from your clipboard, for security consideration you should always check if both addresses are matching. It is known that there are certain computer malware that would alter the content in your clipboard into another wallet address and you will be essentially sending funds to another person.

After reviewing, click 'Confirm' to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to BitMart!

Now go back to BitMart and head to your exchange wallets, don't worry if you haven't seen your deposit here. It is probably still being verified in the blockchain network and it should take a few minutes for your coins to arrive. Depending on the network traffic condition of the Ethereum network, during busy times it may take even longer.

You should receive a confirmation notification from BitMart once your ETH has arrived. And you are now finally ready to purchase DEFX!

Step 5: Trade DEFX

Go back to BitMart, then go to 'Exchange'. Boom! What a view! The constantly flicking figures might be a bit scary, but relax, let's get our heads around this.

In the right column there is a search bar, now make sure "ETH" is selected as we are trading ETH to altcoin pair. Click on it and type in "DEFX", you should see DEFX/ETH, select that pair and you should see a price chart of DEFX/ETH in the middle of the page.

Below there is a box with a green button that says "Buy DEFX", inside of the box, choose the "Market" tab here as that is the most straight-forward type of buying orders. You can either type in your amount or choose what portion of your ETH deposit you would like to spend on buying, by clicking on the percentage buttons. When you have confirmed everything, click "Buy DEFX". Voila! You have finally bought DEFX!

Last Step: Store DEFX securely in hardware wallets

Ledger Nano S

Easy to set up and friendly interface
Can be used on desktops and laptops
Lightweight and Portable
Support most blockchains and wide range of (ERC-20/BEP-20) tokens
Multiple languages available
Built by a well-established company found in 2014 with great chip security
Affordable price

Buy Now

Ledger Nano X

More powerful secure element chip (ST33) than Ledger Nano S
Can be used on desktop or laptop, or even smartphone and tablet through Bluetooth integration
Lightweight and Portable with built-in rechargeable battery
Larger screen
More storage space than Ledger Nano S
Support most blockchains and wide range of (ERC-20/BEP-20) tokens
Multiple languages available
Built by a well-established company found in 2014 with great chip security
Affordable price

Buy Now

If you are planning to keep("hodl" as some may say, basically misspelt "hold" which get popularised over time) your DEFX for a considerable long time, you may want to explore ways of keeping it safe, although Binance is one of the safest cryptocurrency exchange there had been hacking incidents and funds were lost. Because of the very nature of the wallets in exchanges, they will be always online("Hot Wallets" as we call them), therefore exposing certain aspects of vulnerabilities. The safest way of storing your coins to date is always putting them into a type of "Cold Wallets", where the wallet will only have access to the blockchain(or simply "go online") when you send out funds, reducing the chances of hacking incidents. A paper wallet is a type of free cold wallet, it's basically an offline-generated pair of public and private address and you will have it written somewhere, and keep it safe. However, it is not durable and is susceptible to various hazards.

Hardware wallet here is definitely a better option of cold wallets. They are usually USB-enabled devices that store the key information of your wallet in a more durable way. They are built with military-level security and their firmware are constantly maintained by their manufacturers and thus extremely safe. Ledger Nano S and Ledger Nano X and are the most popular options in this category, these wallets cost around $50 to $100 depending on the features they are offering. If you are holding your assets these wallets are a good investment in our opinion.

Frequently Asked Questions

Can I buy DEFX with cash?
Are there any quick ways to buy DEFX in Europe?
Are there any alternative platforms to buy DEFX or Bitcoin with credit cards?

Can I buy DEFX with cash?

There is no direct way to buy DEFX with cash. However, you can use marketplaces such as LocalBitcoins to first purchase ETH, and finish the rest of the steps by transferring your ETH to respective AltCoin exchanges.

LocalBitcoins is a peer-to-peer Bitcoin exchange. It is a marketplace where users can buy and sell Bitcoins to and from each other. Users, called traders, create advertisements with the price and the payment method they want to offer. You can choose to buy from sellers from a certain nearby region on the platform. is after all a good place to go to buy Bitcoins when you can't find your desired payment methods anywhere else. But prices are usually higher on this platform and you have to do your due diligence to avoid getting scammed.

Are there any quick ways to buy DEFX in Europe?

Yes, in fact, Europe is one of the easiest places to buy cryptos in general. There are even online banks which you can simply open an account and transfer money to exchanges such as Coinbase and Uphold.

Are there any alternative platforms to buy DEFX or Bitcoin with credit cards?

Yes. is also a very easy to use platform for buying Bitcoin with credit cards. It is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with a bank card. Its user interface is very easy to use and the buying steps are pretty self-explanatory.