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What is IMX coin? What can IMX coins do? How to store IMX coins?

IMX coins facilitate transactions, staking, and governance within the Immutable X gaming platform, enabling user participation and platform security.

Oct 21, 2024 at 12:12 pm

1. What is IMX Coin?

IMX coin is the native token of the Immutable X platform, a Layer-2 solution built on Ethereum specifically designed for gaming. It is a decentralized protocol that allows the creation, issuance, and trading of non-fungible tokens (NFTs) for gaming applications.

2. What Can IMX Coins Do?

IMX coins are used for various functionalities within the Immutable X platform, including:

  • Transaction fees: Users pay transaction fees in IMX when interacting with the Immutable X platform, such as creating or transferring NFTs.
  • Staking: IMX holders can stake their tokens to earn rewards and support the network's security.
  • Governance: IMX holders have voting rights to participate in the governance of the Immutable X ecosystem, including proposing and voting on changes to the platform.

3. How to Store IMX Coins?

IMX coins can be stored in several ways:

  1. Hardware wallets: These physical devices, such as Ledger and Trezor, provide secure offline storage for your IMX coins.
  2. Software wallets: Mobile or desktop wallets, such as MetaMask and Exodus, allow you to store and manage IMX coins conveniently.
  3. Centralized exchanges: Exchanges like Binance and Coinbase offer IMX storage services, but these may not provide the same level of security as hardware or software wallets.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

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