Using Zengo, you can securely and safely trade Bitcoin (BTC) for Immutable X (IMX). This guide will provide clear instructions on how to swap your BTC for IMX tokens or vice versa in just a few steps.
Bitcoin (BTC) was the first successful cryptocurrency and is still the most popular today. The project was launched in 2008 by an anonymous individual or group called Satoshi Nakamoto and went live in 2009. Since Bitcoin operates independently of traditional banking systems and government institutions, it promotes decentralized control over finances. It operates through blockchain technology, a set of interconnected data blocks that record all transactions without requiring a central authority to manage them. In addition, it is based on a proof-of-work (PoW) algorithm, which creates new BTC tokens through a mining process. Due to its open-source nature and increasing popularity, Bitcoin is becoming increasingly popular as an alternative payment method.
Immutable X (IMX) is a layer two solution operating primarily on the Ethereum blockchain. Founded in 2018, Immutable X was established by James and Robbie Ferguson in collaboration with Alex Connolly. It is designed to provide developers with the tools to build fast, scalable, and secure applications for NFTs and blockchain games. Immutable X has introduced its native token, IMX, which serves a multitude of purposes, including various services and governance. Immutable X places its emphasis on security, user-friendliness, and the reduction of gas fees. Their upcoming developments encompass features like Immutable Passport, SDK enhancements, and marketplace improvements.
Zengo offers a safe and secure platform for trading Bitcoin for Immutable X. To start with trading, the first thing to do is download the Zengo app from Google Play or the Apple App Store. Then, create a Zengo account and finish the onboarding process.
As soon as you have created your Zengo account, follow these steps to trade your BTC for IMX:
Open your Zengo app and click the “Actions” button on the main menu.
Select the BTC and IMX pair (or vice versa) and specify the amount you wish to trade.
Verify all your transaction details, and click “Confirm.” A Zengo notification will be sent to you once your trade has been completed.
Zengo offers a platform that allows you to trade BTC for IMX tokens or vice versa. Zengo is a popular cryptocurrency and NFT wallet for a number of reasons, including:
Zengo delivers the highest security to protect your digital assets. Zengo utilizes advanced MPC technology, biometrics, and a comprehensive 3-factor authentication to provide you with full protection. Also, Zengo provides additional protection via a Web3 firewall during interactions with Web3 Dapps. Learn more about Zengo’s advanced security measures.
Zengo allows you to have full control over your private keys, ensuring that only you have access to your digital assets. Furthermore, our app’s intuitive interface has been thoughtfully designed to minimize the chances of human errors when performing cryptocurrency swaps or sending funds to other wallets.
Zengo allows you to trade your tokens at fair and competitive rates. Furthermore, we do not charge transaction fees for either sending or receiving crypto, although network fees may still apply. Additionally, with Zengo, you have the flexibility to determine how much you are willing to spend on gas, charging a higher fee for fast transactions or a lower one for slow ones. For more information, please refer to our fees and limits guide.
Zengo’s advanced recovery system offers you the capability to regain access to your account at any time, even if you happen to lose your phone or delete the app. Simply download the Zengo app and re-access your account using your facial ID for authentication.
Cryptocurrency trading can be thrilling, but it’s crucial to remember that this market remains largely unregulated and subject to frequent price fluctuations. While Zengo offers users a secure environment to store digital assets and interact with Web3, the platform does not offer financial advice. If you are considering investing in crypto or NFTs, you should do thorough research first.
Trading and investing in cryptocurrencies can be exciting and profitable. However, digital asset trading is primarily unregulated, and the majority of digital assets are highly volatile. Zengo safeguards your cryptocurrency holdings and enables you access to Web3, Dapps, and decentralized finance, but it doesn’t constitute financial advice, nor does it recommend buying or selling any digital assets. Always do your own research before investing in any cryptocurrency.
To learn more about trading BTC to IMX, refer to the FAQ section below.
In spite of both Bitcoin (BTC) and Immutable X (IMX) being cryptocurrencies, their applications and characteristics differ greatly. Bitcoin is regarded as the first successful cryptocurrency. Essentially, it is used as a store of value and as a medium of exchange. In light of its decentralized nature, it allows peer-to-peer transactions to take place without the involvement of middlemen such as centralized banks and governments. It has a limited supply of 21 million coins, and it uses a proof-of-work consensus mechanism to allow the mining of new coins. In contrast, Immutable X (IMX) is a layer-2 scaling solution for NFTs on Ethereum, focusing on enhancing Ethereum’s scalability and user experience for NFT transactions. Furthermore, IMX is a native token of Immutable X, which is utilized for service and governance.
Trading Bitcoin for Immutable X token is a simple process that involves swapping BTC for IMX tokens or the other way around by using Zengo’s integrated crypto trading function.
For trading BTC for IMX, you will need a wallet that supports both assets and allows this type of transaction. The Zengo wallet supports this process, making it safe to swap BTC for IMX tokens.
Yes, there is a minimum trading amount, and it may fluctuate based on the market conditions. The most up-to-date information can be found by opening the Zengo app, navigating to the trade section, and selecting BTC and IMX. To learn more about Zengo’s fees and limits, click here.
With Zengo’s wallet app, you can trade BTC and IMX for a variety of cryptocurrencies, such as ETH, DOGE, XTZ, and VGX. Depending on market conditions, some pairs may be unavailable. If you want to check availability, go to the Zengo app, select “Actions,” then click “Trade,” and find the tokens you want to swap.
With Zengo, you have complete control over your digital assets; therefore, you can send BTC and IMX simply by launching the Zengo app, finding the token, clicking “Actions,” choosing “Send,” typing in the amount along with the destination address, and verifying all the details.
If your BTC to IMX trade is successful, you should receive a notification on your device. Alternatively, you can check your transaction history in your Zengo app; once the trade has been completed, the status will shift from “Trade Pending” to “Trade Received.”
Yes, through Zengo’s fiat-to-crypto on-ramp, you can buy BTC and IMX. If you want to make a purchase, open Zengo, click on “Actions,” select “Buy,” and follow the on-screen instructions, then select your payment method. Zengo supports several payment methods, including MasterCard, Visa, Apple Pay, and bank wire transfers.
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