How to buy Icon coin online

Icon has created a community of blockchains that can all interact with each other. Icon's ICX coin powers the community and you can learn how to buy ICX here.

This guide introduces you to Icon and its ICX coin. Learn more about where to buy ICX, how it all works, and what to look out for before you invest.

Compare where to buy Icon, and open an account

You can buy ICX using the brokers below. These are the top brokers chosen by our teams of crypto experts, who have reviewed all the most popular options. If you aren’t ready to buy yet, read on to learn more about Icon.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
FOREX.com
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Min Deposit
$50
United States
Start Trading View key features
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Top Coins
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated jurisdictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
CedarFX
Key Features
0% Commission Account
Low Spreads
Eco-Account Option
Min Deposit
$10
United States
Start Trading View key features
Key Features
0% Commission Account
Low Spreads
Eco-Account Option
Top Coins
  • BTC
Payment Methods
Bitcoin, Credit Card, Debit Card
CedarFX is an eco-conscious broker offering 0% commission trading on 170+ assets, including Forex, Cryptocurrency Pairs, Stocks, Indices and Commodities. With up to 1:500 leverage, no-fee transactions and low spreads, traders can make the most of their funds. CedarFX also offers an Eco Account option to support tree planting and sustainability projects.
LonghornFX
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Min Deposit
$10
United States
Start Trading View key features
Key Features
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Top Coins
  • BTC
  • BCH
  • ETC
  • ETH
  • NEO
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
CEX.IO
Key Features
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Min Deposit
$20
United States
Start Trading View key features
Key Features
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Top Coins
  • BTC
  • ETH
  • USDT
  • BCH
  • BTG
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.

What is Icon?

Icon is a framework for creating a community of blockchains that can all work together. It runs like a union of states, where each blockchain platform is a state with its own rules that uses Icon to communicate, trade, and share information with any other state. All this is powered by the ICX coin, which is used for payments, voting and to earn rewards.

By offering a place for blockchains to interact like this, Icon creates a decentralised exchange of information that’s not constrained by borders or government regulation, and can be used to solve practical problems in the real world. Icon originates in South Korea, where it’s already received government backing, and launched in 2018.

How does Icon work?

Icon works by creating a common set of rules so all its communities can talk to each other. It’s essentially a decentralised exchange where blockchains can come together and all transactions between them are stored on Icon’s own blockchain. This removes the need for any central body to act as governor of the network.

The other crucial part of Icon’s infrastructure is its voting system. ICX holders can stake their coins – locking them up for a short period so they can’t be used for anything else – to allow them to vote for representatives to act in the best interest of each community on Icon.

Voting also has another aspect, as holders also vote on public representatives to add new transactions to the blockchain, and everyone is rewarded for contributing. The biggest rewards go to those who contribute the most, but you can also be punished if you use your coins to vote for a bad actor.

How to buy Icon online – a step-by-step guide

Step 1. Find an exchange to buy Icon

To buy ICX you need a cryptocurrency exchange. There are lots of exchanges out there but each one has its own pros and cons. You should take a look at the options before you decide on the best one for you.

A couple of the top exchanges around are:

  • Binance: With Binance you can trade more than 100 cryptocurrencies. Binance has more trading volume than any other exchange and so is a great place for most crypto trading. Sign up for Binance >
  • Bitpanda: Bitpanda is ideal for beginners with an intuitive platform. It specialises in trading cryptocurrency with fiat currency. Join Bitpanda today >

Step 2. Sign up and fund your account

To buy and sell on an exchange you need to first sign up for an account. It’s a simple process but make sure to have a copy of your photo ID handy for verification. Once that’s done, you’ll need to deposit some fiat currency (like GBP, USD, or EUR) to fund your account.

Step 3. Buy Icon

To buy ICX you’ll need to buy another cryptocurrency first. For smaller cryptos, you will often find you can’t buy them direct with fiat currency. The easiest way to get around this is to buy Bitcoin, and then use that to buy ICX. Search out the ICX/BTC crypto pair and hit buy.

Step 4. (Optional) Get a suitable wallet

You can store your new ICX coins in your exchange account. This is reasonably safe, but for extra security you want to think about getting a wallet. Wallets give you control of a private key to access your coins. The most security comes from hardware wallets, but there are also online wallets and mobile wallets available as well.

Here are two of the top wallet providers available:

  • Freewallet: An online wallet that can be accessed through a browser and a mobile app. On Freewallet you can hold more than 100 different cryptos. Get Freewallet now >
  • Trezor: Trezor was the first ever hardware wallet to be released. Trezor holds your coins in a USB stick-like device, ensuring they’re always safe, even if you connect to a malware infected computer. Sign up with Trezor >
Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
$1
United States
Start Trading View key features
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

How to trade Icon – a step-by-step guide

Step 1. Find a broker

When you look for a broker you want to find one with low fees. This is especially true if you plan on making a lot of trades, as trading fees can make it very expensive.

You might find it difficult to buy ICX on any broker at the moment, as they only tend to have the biggest cryptocurrencies available. However, that might change, and when it does eToro and Plus500 are two of the top brokers around.

Step 2. Deposit money

You can fund your broker account with fiat currency. Most brokers also let you trade directly with that fiat currency, but you should check before you start. You should also see if you are entitled to any extra money as a deposit match and the rules around that.

Step 3. Decide how you’d like to trade

Before you start trading you should decide on a trading strategy. Generally, the most popular way of trading cryptocurrency is using contracts for difference. When you trade CFDs you don’t own the underlying asset, rather you speculate on its price moves. They can be a way of getting exposure to the broader market, particularly to assets that would be too expensive to own outright. With CFDs you can back the price to go up or down.

Step 4. Start trading 

Most brokers offer demo accounts where you can trade with pretend money until you get used to how it all works. For beginners, this can be a good way to start without the risk of losing your money.

When you start trading you have two options. If you like a coin, you can back it to go up (going long), while if you don’t you can ‘short’ (sell) it. If you plan on going short you can learn more about it in our guide to short selling.

For traders with a bit more experience, you can use leverage to make bigger trades. When you trade with leverage you put up a small percentage of the overall trade value, which is known as the ‘margin’. Trading like this can open up the potential for big wins, but it means you can lose big as well. It’s not a trading strategy recommended for beginners.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Still undecided?

If you still aren’t sure whether to buy ICX, don’t worry. It’s always a good idea to take some time over an investment, and particularly so with cryptocurrency. Here are some of Icons pros and cons, followed by some more questions for you to think about.

Pros

  • Holding ICX coins entitles you to rewards and lots of voting rights on Icon
  • Icon is one of the most democratic systems around
  • It has already received government backing in South Korea

Cons

  • A one coin: one vote system could hand a lot of power to the biggest holders
  • Its alignment with the South Korean government could be seen as against the blockchain’s decentralised ideals

If you want a bit more information, below are three more questions to help you decide whether to invest in Icon.

1. Is it a good time to buy Icon?

It depends on your investment goals. Icon is a way of investing in the success of a variety of blockchains, and you can use ICX to participate in the platform. It encourages its investors to be active, putting their coins to work and using the voting rights ICX allows them. If those ideals appeal to you, it could well be a good time to buy.

For short term traders, think about whether the current ICX price represents an opportunity. Icon has designed a system to reduce big swings in price, but that doesn’t take away volatility entirely. You’re still looking for reasons that the stock might go up, and below you can find some of our market analysis to help you find them:

ICON (ICX) has advanced from $0.42 above $0.90 since the beginning of January, and the current price stands around $0.78. ICON accelerates enterprise adoption and public blockchain innovation in Korea, and according to analysts, this crypto has a bright future. Fundamental analysis: ICX circulating supply continues to decrease steadily…

2. What problem does Icon solve, and what are the coin’s investment prospects?

Icon solves the problems of isolated blockchains being unable to communicate with each other. By allowing communication it can help solve real world problems: letting data flow across borders and encouraging interaction between industries. Its decentralised nature keeps it secure and no institution or government has control over it, the power is all in its users hands.

ICX is likely to be a good investment if more people join the platform. Part of its voting system allows holders to vote on new projects they want to see developed, so everyone stands to benefit from its democratic nature. ICX will be more in demand the more Icon grows, particularly given the way it incentivises holders to stake their coins in the platform so they can vote.

You should make sure to research before you invest. Because there’s so much voting, holders can act to change the rules if enough people get together. This is something to look out for, as are signs of official approval. Icon has already seen backing from the South Korean government, and you can look for more like this by following the news below:

3. Do you want to hold Icon for the long term?

You want to hold ICX for the long term if you’re going to use its platform. As a long term investor, you can put your coins to work and earn rewards. You can vote on its future, help choose new projects, and contribute to its success. Here are a couple of final things to consider, depending on your investment outlook:

Considerations for a long term investment strategy

If you plan on joining one of the Icon communities and want to vote on its future, it’s a good time to invest. In that case, you should sign up to an exchange and buy some coins straight away. You could also think about a wallet if you want somewhere to hold coins for the long term.

Considerations for a short term trading strategy

ICX is designed to reduce price volatility, but that doesn’t mean there aren’t any opportunities for short term traders. Pick a broker with low fees and read up on trading strategies to see if you can predict moves in the market.

Written by: James Knight
James joined us in 2021 and comes with years of experience as a writer and content creator. Alongside a passion for finance, sports, and technology, James is a historian on a desperate quest to shoot under par.