How and Where to Buy Matrix Protocol (MTX) – An Easy Step-by-Step Guide
What do artificial intelligence and crypto gaming have in common? Matrix Protocol apparently! Matrix Protocol (MTX) is an Australian-based crypto project that seeks to aid in the development of AI, as well as capitalize on the emerging crypto gaming market. In this article, we are going to provide you with a step-by-step guide on how to purchase MTX, discuss the background of the coin, and show you how far the rabbit hole goes.
What is MTX?
Created in late 2021, Matrix Protocol claims that when it comes to crypto gaming, “we do it better.’’ With a focus on games from the early 90s and with a 16-bit feel, MTX has a variety of different games scheduled for release throughout 2022, including beat ’em ups, battle royales, and Play-to-Earn games. Included in these games will be the capacity to wager MTX tokens in a closed-loop business model of gaming, gambling, and P2E.
Additionally, MTX has also made public commitments to the development of artificial intelligence. MTX claims that partnerships with research and development projects that focus more on the adoption and growth of AI will be a focus of the MTX group. Citing the various benefits of AI adoption in care facilities and assisted living facilities.
This somewhat odd mixture of gaming and AI development can be summarized as a type of ‘start-up focus.’ The project looks to its interests that are found throughout various fields of interest both to the company and to the development team in general, with another focus being on future aspirations toward NFT projects.
On the more technical side, MTX operates via the BEP20 Binance Smart Chain and has been publicly audited by three different firms, including Desert Finance, Solidarity, and Spywolf.
Step 1: Register on Fiat-to-Crypto Exchange
Since MTX is an altcoin, it works a bit differently than other conventional tokens, so there are a few extra steps you need to take to get some of your own. But don’t worry; if you just follow along, you’ll easily get your MTX.
The first thing we must do is sign up for a Fiat-to-Crypto Exchange. We’ll be using TrustWallet in this article; you can get it either from the Google Play Store or the Apple App Store. Once downloaded, register for an account by following the prompts on the screen. Some fundamental KYC stuff, security procedures, and safeguards will be needed for this.
The next step is to deposit some fiat money into your new account. You may do this by either using a debit or credit card or by wiring money straight from your bank account.
Step 2: Buy BNB with Fiat Money
You may use those funds to trade for some BNB Smart Chain at any time after your deposited money in your TrustWallet is displayed. To accomplish this, find the BNB Smart Chain option, choose how much you want to spend, and then click “trade.”
Something to note: the vast majority of cryptocurrency exchanges, like TrustWallet, CryptoWallet.com, and MetaMask, will provide you with a comprehensive range of price charts, different trading volume tools, and live market data when you use these sorts of crypto financial services. It’s a great idea to become acquainted with these and truly grasp how they operate since, if you use them effectively, they could enable you to use your money to make more wise financial decisions.
Now there will be a brief confirmation period following your completion of the BNB purchase. Normally, this process lasts for less than 30 minutes, but depending on the flow of traffic at the time, it could go a bit longer. Your TrustWallet will then show the quantity of BNB SmartChain as well as any extra money on screen in your account.
Step 3: Transfer BNB to an Altcoin Exchange
Next, find a cryptocurrency exchange that handles the BNB/MTX trading pairs. This process may be a little different from most other exchange platforms because of MTX’s position on the BNB Smart Chain. Nevertheless, if you adhere to a few straightforward instructions, you ought to have some MTX in no time at all.
Take a look at Pancakeswap. Enter the desired trading choices, BNB being exchanged for MTX. You may manually enter the address for MTX from this page on Coinmarketcap, which can be found in the top left-hand corner of the screen if you are having difficulties finding it in the search bar. You must connect your TrustWallet account to this exchange as your next step. To accomplish this, open Pancake Swap, select the “link wallet” option, pick Trust Wallet, and then follow the on-screen directions. You may perform this action directly through your TrustWallet, using a browser, or even by scanning a QR code.
After that, choose the quantity you want to exchange, and then finish the transaction! Congratulations on getting this far. If you’ve been following along, you should have some of your MTX.
Last Step: Store MTX Securely
You might be wondering what to do next after making it this far. This shows that it’s time to consider wallet systems. Thankfully, if you have been following this instruction, you can already keep this coin in your Trust Wallet. However, you have a few alternatives if, for some reason, you want something else, including hardware solutions, the Binance Smart Chain Wallet, and MetaMask.
Thankfully, the desired wallet systems are from the drop-down menu. Then, as instructed by Pancakswap, follow the instructions displayed on the screen. Your wallet should now contain the money from the Pancake Swap.
Note: Although CryptoWallet.com does not presently host MTX, it does offer a variety of other currencies and financial services. As was already said, it also provides a wide range of wallet services and excellent levels of security. So, in the future, it’s something to be on the lookout for.
Frequently Asked Questions
Can I buy MTX with cash?
Unlike some of the more well-known cryptocurrencies, MTX tokens cannot be purchased with fiat currency. Instead, you may purchase an existing cryptocurrency like BNB, Bitcoin, or Ethereum and then swap it in an exchange for other cryptocurrencies for the alternative coin you choose. Look at the previous instructions to learn how to complete them.
Are there any quick ways to buy MTX in Europe?
Compared to other crypto transactions, buying MTX could appear a little more difficult. We can walk you through each step sequentially, and fortunately, this manual is acceptable for the EU.
Are there any alternative platforms to buy MTX or Bitcoin with credit cards?
Unlike other cryptocurrencies, MTX cannot be purchased using fiat money. Instead, you may purchase an existing cryptocurrency like BNB, Bitcoin, or Ethereum and then swap it in an exchange for other cryptocurrencies for the alternative coin you choose. To find out how to do this, look at the instructions above.
However, one may obtain bitcoin by registering with a cryptocurrency exchange that accepts credit cards. eToro is one business that provides this service.