PLNX on eToroX
PLNX is a tokenized stablecoin — a cryptocurrency linked to a traditional financial asset — in this case, to the Polish zloty (PLN), which can now be traded on eToroX Exchange. Since the price of the PLNX is linked to the Polish zloty on a 1:1 value basis, to trade PLNX on eToroX is the same as trading fiat Polish zloty.
The Polish zloty (PLNX) is one of the five most recently added stablecoins to the eToroX Exchange together with the Turkish lira (TRYX), the South African Rand (ZARX), the Singaporean dollar (SGDX), and Hong Kong dollar (HKDX). In all, there are 17 stablecoins being traded on the eToroX exchange, including eToroX’s US Dollar (USDEX), the Euro (EURX) and the Pound Sterling (GBPX). There are currently 99 trading pairs available on eToroX.
PLNX Trading on eToroX Exchange
PLNX came into being in 2019 and is a fusion of the traditional world of finance with the disruptive world of cryptocurrencies and is one of a group of stablecoins. Stablecoins were introduced into the volatile world of cryptocurrencies to counteract the essential lack of stability.
In order to fund your account with Bitcoin or Ethereum, or any other supported cryptoassets, you can download and use the eToro Wallet, and then buy PLNX. Afterwards, you will be able to sell, or exchange PLNX on eToroX exchange – against the available stablecoins and cryptoassets.
PLNX Exchange Pairs
PLNX is currently paired on eToroX exchange against the tokenized stablecoin of the Euro (EURX/PLNX) and the US Dollar (USDEX/PLNX).
What Affects the Polish Zloty (and the PLNX as a result)?
The zloty (Polish for “golden”) and the PLNX are influenced by external drivers including:
- Expected growth rate
- Unemployment rate
Other factors that could affect the value of the zloty:
- New economic program
- Revitalisation of Polish industries including shipbuilding
- Successful social benefit program
- Low internal and external debt growth rate
- Stable internal political situation
Why Trade PLNX with eToroX
In the erratic and disruptive world of cryptocurrencies, eToroX offers you a reliable and secure exchange platform on which to trade cryptoassets. eToroX is the crypto and blockchain arm of the social trading platform eToro, and is regulated by the Gibraltar Financial Services Commission (GFSC). This enables exchange and trading of PLNX and other cryptoasset pairs in a safe, secure and transparent way.
You can also exchange PLNX on eToroX for other cryptoassets, such as Bitcoin, Litecoin, Stellar, EURX, GoldX and SilverX.
How to get started with PLNX
Your first step is to open and verify your trading account, transfer funds into it and make sure you are connected to the trading exchange. You can then buy or sell PLNX or exchange it for another stablecoin or crypto. The procedure is simple using the online form. You can also create a profile by using your Gmail or Facebook account or your existing eToro account.
You will be able to download the eToro Wallet – a cold storage wallet – where you can store your cryptoassets – on either Android Play Store or iOS/App Store. As soon as the funding cryptos are “in place,” you will be able to transfer them to the exchange and buy PLNX.
The above content is for informational purposes only and should not be construed as financial or any other type of advice. All trading involves risk of capital loss. Digital Assets trading also involves additional special risks not generally shared with official currencies, goods or commodities. For more information on the risks please refer to our Risk Disclaimer.