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What is FLEX Coin?

FLEX Coin (FLEX) is the native token of the CoinFLEX exchange, a centralized cryptocurrency derivatives exchange. It was initially minted on the BCH SLP network and later expanded to ERC-20. FLEX is used for discounted trading fees, collateral for trading, and governance on the platform. It also provides various benefits to holders, such as reduced fees, higher leverage, and rewards through staking and participation in the FLEXDAO governance system.

How is FLEX Coin used?

FLEX Coin (FLEX) is the native token of the CoinFLEX exchange, which is a physically delivered futures exchange. It has several use cases within the platform:

  • Trading Fees and Rebates: All trading fees and rebates are paid in FLEX, leading to greater velocity of money.
  • Collateral: FLEX can be used as collateral with a 0.9 Loan-to-Value (LTV) to trade CoinFLEX’s perpetuals, futures, spreads, and rates.
  • Trading Fee Discounts: Holding more FLEX provides an account-wide discount on fees for all trading products, including perpetuals, futures, spreads, rates, and spot trading. Maker rebates are also available for FLEX holders.
  • Affiliate Commission Tiers: FLEX holders can earn commissions ranging from 10% to 30% based on the amount of FLEX held in their account.
  • Listing Votes: FLEX holders are eligible to vote on listing votes and can be monetarily rewarded for participating.
  • Options: CoinFLEX’s options platform is margined in FLEX.
  • Competitions: Holding 4000 FLEX entitles traders to enter CoinFLEX’s trading competitions.
  • Governance: FLEX will be the governance token for flexUSD and noteUSD, two interest-bearing stablecoins issued by CoinFLEX.

How do I store FLEX Coin?

To store FLEX Coin (FLEX) tokens safely, it is recommended to use "Cold Wallets," which are offline wallets. This method ensures that your coins or tokens are protected from potential online threats and unauthorized access.

How to buy FLEX Coin?

To buy FLEX Coin (FLEX) tokens, follow these steps:

  1. Register on a Centralized Exchange (CEX):

    • Create an account on a CEX that supports FLEX Coin trading, such as AscendEX (BitMax).
    • Verify your identity and secure your account with two-step verification.
  2. Buy a Cryptocurrency with Fiat:

    • Use fiat to purchase a cryptocurrency like USDT, ETH, or BNB, which can be easily traded for FLEX Coin.
    • You can use the CEX's over-the-counter (OTC) trading service or a financial service platform like PayPal or Robinhood to fund your account.
  3. Transfer Cryptocurrency to a CEX Supporting FLEX:

  • If the CEX you used to buy USDT, ETH, or BNB also supports FLEX Coin trading, you can proceed to the next step. Otherwise, transfer your cryptocurrency to a CEX that supports FLEX Coin trading.
  1. Buy FLEX Coin:
    • Use your USDT, ETH, or BNB to buy FLEX Coin in the spot market.

Alternatively, you can also use a service like Bit2Me to buy FLEX Coin. Here's how:

  1. Buy ETH on Bit2Me:

    • Open an account with Bit2Me, verify it, and add Euros to your wallet.
    • Buy Ethereum and keep it in your Bit2Me wallet.
  2. Create a MetaMask Wallet:

    • Download the MetaMask browser extension or mobile app and set up your wallet.
  3. Deposit ETH to MetaMask:

  • Send your ETH from Bit2Me to your MetaMask wallet.
  1. Buy FLEX in a Decentralized Exchange (DEX):
    • Connect your MetaMask wallet to a DEX that supports FLEX, such as PancakeSwap.
    • Swap your ETH for FLEX Coin.

Remember to always check the current prices and trading volumes before making a purchase.

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