ProximaX, pronounced as Proxima X, is an all-in-one platform for cross-industry application and decentralized app management. Within its core is the NEM blockchain. The platform’s native token is XPX, the cryptocurrency that will allow a sustainable marketplace for its services.
As of this writing, XPX is not readily available in the country. Filipinos who want to own this token needs to purchase it through cryptocurrency exchanges. In this article, we will teach you how you can buy ProximaX in the Philipines.
Table of Contents.
What is ProximaX?
ProximaX aims to be an all-in-one platform where it uses the blockchain powered by NEM, decentralized storage by InterPlanetary File System (IPFS), and its peer-to-peer multimedia and messaging layer is by PeerStream Protocol (PSP). According to the official ProximaX website, it is an “advanced extension of the blockchain and distributed ledger technology (DLT) with utility-rich services and protocols”.
“ProximaX combines blockchain, storage, streaming and an advanced consensus algorithm to enable a rich, all-in-one platform for broader cross-industry application and decentralized app development.” – ProximaX
ProximaX’s token, XPX, will be used by its users to in order to “subscribe to the network” and this will be their “ProximaX Power”. The company also stressed that the token is a utility token and doesn’t have any security instrument tied in it.
Where to Buy ProximaX XPX in the Philippines?
As of this writing (September 27, 2018), XPX is not yet directly available in the country. Cryptocurrency enthusiasts in the country can own an XPX by purchasing it through traditional cryptocurrency exchanges.
Step 1: Buy BTC through Coins.ph
Just in case you don’t have bitcoins yet, you can purchase it through a leading cryptocurrency wallet in the Philippines, Coins.ph. You will need to register, get verified, and complete the necessary KYC before you can get started. After completing the necessary steps, you may proceed to cash in. You can deposit PHP via 7-Eleven’s Cliqq kiosk, partner pawnshops, or via Union Bank. After funding your account with PHP, you can then convert it to BTC using Coins.ph’s app.
- Get your Coins.ph app (Register here!)
Step 1 (Alternate): Buy BTC using Credit/Debit Card
If you want to purchase BTC using your credit or debit card, you can use Changelly. It works just like a money changer where you put your USD or EUR from your credit/debit card and it will exchange it for BTC. It uses the market price for the exchange and charges for the transaction.
Step 2: Buy ProximaX on Traditional Cryptocurrency Exchanges
Traditional cryptocurrency exchanges are the open book type trading platforms. Users of this exchange can purchase tokens by using the market price or setting their own buy/sell price. These exchanges also have different trading pairs. For XPX it currently has XPX/BTC and XPX/ETH. In this article, we will use the XPX/BTC trading pair.
As of this writing, there are currently three exchanges that have XPX listed: Kryptono, Bilaxy, and Coinsuper.
You can start trading using these platforms by registering and verifying your email. You will then need to add funds to your account. Since we will do the XPX/BTC pair, have your BTC funds ready. Click on Deposit in your exchange account and deposit BTC. After completion, go to Exchange and search for the BTC/XPX pair. You can set your own price or buy a token using the market price. Once done, don’t forget to Withdraw your XPX in your XPX wallet for safe keeping.
Step 2 Alternative: Buy on Nemchange
NEMchange is a cryptocurrency exchange where users can exchange their NEM tokens to NEM Mosaics like ProximaX. We have an in-depth-guide on how to buy on NEMChange but that article is about buying LoyalCoin. So here’s are the steps to take:
If starting with BTC
- Buy BTC on Coins.ph.
- Transfer BTC to Binance and purchase NEM (Check out how to buy on Binance here.)
- Transfer NEM to NEM Nano Wallet.
- Transfer NEM from Nano Wallet to NEMChange.
- Purchase ProximaX. (Check this article. Substitute LYL for ProximaX mosaic.)
If starting with NEM
- Buy NEM on Changelly.
- You will be receiving the NEM you bought from Changelly to the NANO Wallet.
- Transfer NEM from Nano Wallet to NEMChange.
- Purchase ProximaX. (Check this article. Substitute LYL for ProximaX Mosaic.)
ProximaX XPX Wallet
ProximaX has an available mobile wallet on both iOS and Android.
Since it runs on the NEM blockchain, XPX is a NEM mosaic you can keep your XPX in the NEM wallet.
Lifetime XPX Price Chart
Looking at the chart, XPX’s lifetime has just started/. Its price initially started on August 9, 2018 at 0.005025 USD. Although the change is still minimal, its highest price it reached was August 10, 2018 at 0.005843 USD. Its lowest dip was 0.003320 USD on September 13, 2018. As of this writing (September 26, 2018), the price per XPX is dancing around 0.003 to 0.004 USD.
XPX – Difference from other Coins
According to ProximaX, its token is a utility token and will be used to subscribe in its network in exchange for ProximaX power. The company will also develop further its system to define, charge, and consume a user’s “ProximaX power” during subscription periods.
ProximaX Key People
- Lon Wong, Founder & CEO, ProximaX (LinkedIn)
- Alvin Reyes, Co-Founder & CTO, ProximaX (LinkedIn)
- Devinder Singh, Director – Projects & Operations, ProximaX
- Dr. K W Lee, Head – Applications Development, ProximaX (LinkedIn)
- Timothy Chia, Director – Special Projects, ProximaX (LinkedIn)
- Carlo Cayos, Lead Developer – Core, ProximaX (LinkedIn)
ProximaX is a platform that integrated its blockchain from NEM, its decentralized storage from InterPlanetary File System (IPFS), and its peer-to-peer multimedia and messaging layer from PeerStream Protocol (PSP). It aims to be an all-in-one platform. Its token, XPX, is a utility token that will be used to subscribe in ProximaX’s network and to give its users “ProximaX power”. Upon checking the history of the coin via Coinmarketcap, its first trade was on August 9, 2018 at 0.005025 USD. The token is still trying to get listed on to various cryptocurrency exchanges. As of this writing (September 26, 2018), it is listed in three traditional cryptocurrency exchanges namely Kryptono, Bilaxy, and Coinsuper. The token’s total supply is set at 9,000,000,000 XPX.